Profil:
Benefit Systems SABenefit Systems assumes PLN 5.7-6.3 bln revenue in 2027 in its strategy
Listed employee benefit schemes provider Benefit Systems has adopted the group's strategy valid until the end of 2027, which aims, among other things, to have between 2.9 and 3.1 million sports card users at the end of 2027, and to achieve consolidated revenues of between PLN 5.7-6.3 billion (EUR 1.3-1.5 bln) in 2027, the company said in a market filing.
The company also targets in the strategy to have between 600 and 650 fitness clubs at the end of 2027 and to achieve an operating profit margin (excluding potential incentive programme costs; adjusted for one-off events) of between 17 percent and 18 percent in 2027.
The company noted that the goals and objectives of the 2027 strategy do not constitute a forecast or estimate of performance, including financial performance, and refer only to the Benefit Systems group's intended direction for 2025-2027.
"The Benefit Systems group wants to be the market leader in employee benefits in the category of sports cards, wellbeing and the leading operator of fitness clubs in all markets where it operates," it wrote in the presentation.
The group said that in the area of sports cards it wants to remain the first choice product in Poland, consolidating its market advantage by increasing access to sports facilities, expanding services and education to activate new users.
The target for Poland in this area for 2027 is 1.9-2 million sports cards, PLN 2.5-2.8 billion (EUR 578.8-648.2 mln) in revenue and EBIT profitability of 22-24 percent.
In the fitness area in Poland, the company wants to expand its own network of clubs in order to increase the availability of these services and be able to offer formats tailored to the needs of different user groups.
The number of own fitness clubs in 2027 is assumed to be 370-400. The goal in this segment is revenues of PLN 1.3-1.4 billion (EUR 301-324.1 mln) and EBIT profitability of 13-14 percent.
In its strategy until 2027, Benefit Systems Group assumes the continuation of its current dividend policy.
As stated, the company's dividend policy for 2024-2027 assumes that the management board will recommend to the general meeting to allocate at least 60 percent of the consolidated net profit for the previous financial year, excluding positive or negative unrealised exchange rate differences, to the payment of dividends.
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In the third quarter of 2024, Benefit Systems' revenues amounted to PLN 835.9 million (EUR 193.5 mln), up from PLN 693.9 million (EUR 160.6 mln) in the prior year period. The PAP Biznes consensus was for revenues of PLN 834.8 million (EUR 193.3 mln).
The group posted an operating profit of PLN 183.9 million (EUR 42.6 mln), up from PLN 171.1 million (EUR 39.6 mln) a year earlier. The PAP Biznes consensus had assumed EBIT of PLN 181.3 million (EUR 42 mln) .
The number of cards in Poland during the period exceeded 1.5 million, up by 82,000 since the beginning of the year. User activity remained at a similarly high level to the prior year period's.
The offer of Benefit Systems' own fitness clubs - 230 facilities at the end of September 2024 - is currently used by more than 260,000 users (in the B2C model).
pel/ ao/