Investment Proposition

Our vision is to provide affordable access to exercise facilities and expert help to every person who wants to improve their wellbeing, whatever their starting point, whatever their destination.

We focus on operating high quality, low cost gyms that have wide appeal and therefore operate with large memberships in each site. The economies of scale in our business model enable us to offer a great service at a low cost for our members whilst also delivering a strong return on capital for our shareholders.

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INVESTMENT CASE

A growing market for low cost gyms.
The UK low cost gym market has grown strongly over the last five years and still has significant headroom for growth. The continued growth is supported by increasing gym membership, low cost operators winning share from other segments and a broadening of the locations in which low cost providers can successfully operate.

Proven business model enabled by technology and economies of scale.
Our technology-led business model has re-engineered the traditional gym operating model, removed costly under-used facilities and enables focus on core operations.

Strong return on capital.
We continue to use the increasing scale of our Company to drive cost efficiencies across the entire business, enabling us to deliver great value to our members as well as a strong financial return to shareholders. We deliver a return on capital in our mature estate of more than 30%.

GYM NETWORK 

In 2018 we rebranded the remaining acquired Lifestyle Fitness sites, acquired 13 well positioned sites from easyGym, of which we successfully rebranded ten by the end of the year, and opened an additional 17 high quality sites across the UK.

Gym Network

MEMBER PROPOSITION

  • High quality gym equipment and exercise areas
  • Market-leading low price monthly membership
  • 24/7 access
  • Convenient locations
  • Free group exercise classes
  • No contract
  • Extra benefits with live IT membership
  • Online joining and membership area
  • Professional, helpful staff and access to personal trainers

DELIVERING RESULTS

  • Gyms: +30 
  • Revenue: £123.9m
  • Group Adjusted EBITDA: £36.8m
  • Average number of members (vs 2017): +31.3%