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Benefit Systems SA
Publikacja: 2025-05-27 06:57

Benefit Systems posts PLN 56.7 mln attrib. net profit in Q1 2025

Listed employee benefit schemes provider Benefit Systems' attributable net profit in the first quarter of 2025 fell to PLN 56.7 million (EUR 13.3 mln) from PLN 92.1 million (EUR 21.7 mln) in the prior year period, the company said in its quarterly report.


Benefit System's operating profit in the first quarter fell to PLN 100.5 million (EUR 23.64 mln) from PLN 123 million (EUR 28.93 mln) a year ago. Operating profit adjusted for PLN 22.0 million (EUR 5.2 mln) of incentive programme valuation costs and PLN 26.5 million (EUR 6.2 mln) of MAC Group acquisition costs was PLN 149 million (EUR 35 mln), up 14 percent year on year.

EBITDA was PLN 199.2 million (EUR 46.85 mln) against PLN 204.2 million (EUR 48 mln) in the first quarter of last year. Adjusted EBITDA (excluding IFRS16) increased by 13 percent year on year to PLN 182.3 million (EUR 42.9 mln).

The company's revenue amounted to PLN 952 million (EUR 223.9 mln), up 19 percent year on year. As stated in the press release, the results were impacted by an increase in the volume of sports cards and passes by several percent year on year and a change in the average ARPU by a low few percent year on year.

The Poland segment reported a 17 percent year-on-year increase in revenue to PLN 681.9 million (EUR 160.4 mln) and operating profit of PLN 143.5 million (EUR 33.75 mln), up 40 percent year on year.

The number of cards in Poland increased by 11 percent to 1,675,900, the number of B2C passes amounted to 287,600 (up 11 percent year on year).

According to the company's presentation, for 2025, the number of cards in Poland is assumed to increase by 130,000 and in foreign markets by around 150,000. Year-on-year ARPU growth is expected to be in the low few percent in Poland and at a comparable year-on-year level abroad.

In Poland, the company expects comparable or marginally lower profitability margin compared to 2024. Pressure on the margin of the EU Abroad segment is expected due to investments in the development of fitness and sports card networks.

The company expects around 20 openings in Poland and more than 45 in foreign markets and continues to analyse the market for investment opportunities in Poland and abroad.

Benefit Systems ended the quarter with a net cash position of PLN 108 million (EUR 25.4 mln).

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