Profil:
Benefit Systems SAUPDATE: Benefit Systems posts PLN 211.9 mln net profit in Q3 2025, markedly above consensus
Listed employee benefit schemes provider Benefit Systems posted a PLN 211.9 million (EUR 50.1 mln) attributable net profit in the third quarter of 2025, significantly above the market expectations of a PLN 140.9 million (EUR 33.3 mln) net take, the company's financial report has shown. The company's net profit in the prior year period amounted to PLN 134 million (EUR 31.7 mln).
In the third quarter of 2025, Benefit Systems' revenues reached PLN 1,184.2 million (EUR 279.94 mln), up from PLN 835.9 million (EUR 197.6 mln) in the prior year period. The PAP Biznes consensus was for revenues of PLN 1,134.1 million (EUR 268.1 mln).
The group recorded an operating profit of PLN 239.8 million (EUR 56.7 mln) against PLN 183.9 million (EUR 43.5 mln) in the third quarter of the previous year. The PAP Biznes consensus had assumed EBIT of PLN 214.7 million (EUR 50.8 mln).
The group's operating profit adjusted for incentive programme costs and other one-off events amounted to PLN 283 million (EUR 66.9 mln).
EBITDA reached PLN 377.1 million (EUR 89.15 mln), 6 percent above the market expectations of PLN 355.4 million (EUR 84 mln).
The company reported that the solid double-digit year-on-year growth was driven by the group's sales activities, including an increase in the number of MultiSport cards and fitness network passes, as well as investments in the Turkish MAC network.
"(...) The group's revenues and the significant 42 percent year-on-year increase in adjusted EBIT are particularly satisfying. In the coming periods, we expect an improvement in results on the Turkish market and stable growth in line with our assumptions in other regions," said member of Benefit Systems' management board Marcin Fojudzki, quoted in the press release following the quarterly report.
At the end of the third quarter, the group had nearly 2.4 million sports cards, approximately 650,000 B2C passes and almost 500 fitness clubs across all markets.
Revenues from sales in the Polish segment amounted to PLN 712.8 million (EUR 168.5 mln), an increase of 16 percent year on year.
At the end of the third quarter, the company's own fitness networks in Poland comprised 257 clubs (3 clubs acquired through acquisitions, 3 organic openings), and the number of B2C passes amounted to 292,000.
BELOW ARE BENEFIT SYSTEMS' Q3 2025 RESULTS AGAINST PAP BIZNES CONSENSUS AND PREVIOUS RESULTS.
| Q3 2025 | results | consensus | difference | y/y | q/q | YTD 2025 | y/y |
| PLN mln | PLN mln | % | % | % | |||
| Revenues | 1184.2 | 1134.1 | 4.4% | 41.7% | 8.2% | 3230.2 | 30.2% |
| EBITDA | 377.1 | 355.4 | 6.1% | 38.1% | 15.7% | 902.1 | 25.2% |
| EBIT | 239.8 | 214.7 | 11.7% | 30.4% | 18.7% | 542.3 | 16.9% |
| Attrib. net profit | 211.9 | 140.9 | 50.4% | 58.2% | 48.3% | 411.6 | 22.8% |
| EBITDA margin | 31.8% | 31.3% | 0.50 | -0.82 | 2.07 | 27.93% | -1.10 |
| EBIT margin | 20.3% | 18.9% | 1.33 | -1.75 | 1.79 | 16.79% | -1.91 |
| net margin | 17.9% | 12.4% | 5.48 | 1.87 | 4.84 | 12.74% | -0.76 |
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