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Overig advies 29/07/2022 07:33
Strong recovery continues with membership base up 45% year-on-year


107 net club openings, growing the network to 1,122 clubs
Number of memberships increased by 45% year-on-year to 2.92 million (H1 2021: 2.01 million)
Average number of memberships at mature clubs increased to 3,138 (YE 2021: 2,646)


Revenue of €355 million (H1 2021: €53 million)
Underlying EBITDA of €60.2 million (H1 2021: minus €12.5 million)
Net loss of €28 million (H1 2021: net loss €126 million)
June 2022 produced first net profit after start of the COVID-19 pandemic
€181 million available liquidity


Membership growth of 1.3 million to around 3.5 million
Network expected to grow to around 1,250 clubs
Revenue of between €800 and €850 million and underlying EBITDA of around €225 million


"In line with our accelerated growth ambitions, we grew our network by a record 107 clubs to 1,122 in the first half of the year. We are on track to grow our network to around 1,250 clubs this year and 2,000 clubs by 2025.

I am very pleased to see the strong growth of our membership base. We are confident that by the end of the year our mature clubs will be back at the average membership level of before the COVID-19 pandemic.

To support the positive momentum of our membership growth, we have been spending more on marketing and will continue to do so in the second half of the year. We now expect to increase our membership base by 1.3 million to around 3.5 million memberships in 2022.

One of the drivers of our strong performance are our attractive membership prices. To cope with today’s inflationary environment, we have been successfully increasing the uptake of the Premium membership. In the month of June, over 35% of joiners chose a Premium membership. This compares to 23% of Premium memberships in our base at the start of the year. This will result in a gradual increase of the average yield per membership. We will continue with a further optimisation of our membership structure in the second half of the year to solidify the positive yield development.”
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