Polish Gym Operator Aiming for Fast Recovery as Restrictions End
Poland’s biggest provider of employee-perks programs said it expects to almost double its client base in the next five months on fresh demand for gym activities after lockdown.
Benefit Systems SA, which offers “MultiSport” cards that give holders access to various gyms and swimming pools in Poland and other eastern European countries, reported a net loss of 48.9 million zloty ($13.3 million) in the first quarter as most sports facilities were closed due to virus restrictions. While the company sees headwinds through the second quarter, it said it has enough cash reserves to survive lockdowns since gyms and swimming pools are now reopened in Poland and the Czech Republic.
The Warsaw-based company aims to double card holders to 1.1 million in October from 538,700 at the end of March. During the pandemic, Benefit Systems sought to retain clients by offering online activities such as the “Yes2Move” fitness-coaching platform and well-being training for employees. It’s now seeking to lure clients back with physiotherapy programs for people who suffered injuries as a result of the work-from-home environment.
Benefit Systems is also readying expansion to Turkey with an initial budget of 2 million euros after entering the Czech Republic, Bulgaria, Slovakia and Croatia. The company’s share price has rebounded 41% since late March after almost halving during the pandemic.
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