Leisure Gogolf plans to list on the stock exchange – competition in indoor training places is accelerating in Finland as well

 

The equipment retailer and media house that owns the golf courses are investigating the listing on the First North list.

Last Gogolf, which expanded rapidly during the 1990s, is exploring the possibility of listing on the Nasdaq First North Growth Market Finland during 2022.

Founded in 2010, the company, which originally focused on golf media and events, gaming and coaching, has expanded into operating and contracting golf courses, practice areas and indoor practice venues.

The company’s other mainstay, Golf Sky, sells golf equipment in stores and online.

Gogolf has become known as a golf course operator in particular, it has imported, in addition to golf shares and annual game fees and charges, familiar monthly fees from gyms or one or ten times card fees.

The renewal of the pricing model and the construction boom in indoor practice places have been the most talked about changes in the golf hobby in recent years.

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Gogolf courses include Kurk Golf, Hills by GoGolf, Peuramaa Golf, GoGolf Isosaari, Hirvensalon Golf and Vuosaari Links.

Company says in its release that it has grown by an average of more than 30 per cent a year from 2016 to 2021, and is aiming for strong growth both in the Nordic countries and in Europe as a whole.

CEO of GoGolf Jyrki Rehumäki says the company ‘s 2021 audit is in progress and last year’ s figures cannot yet be released.

However, he says the company’s business has been profitable last year.

“16 million turnover was made in 2020, 23 million last year,” says Rehumäki.

Last year, the golf courses of Vuosaari and Peuramaa were merged into the company. Gogolf owns a stake in Peuramaa.

Gogolf opened a large indoor training hall in Tampere in November. Another large indoor center is Keran Hallit in Espoo.

In indoor practice places competition is accelerating in different parts of Finland.

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According to Rehumäki, four indoor training places have been opened in the Helsinki metropolitan area during the winter season, but Finland still lags behind Sweden, where the largest players have more than 30 halls.

Gogolf has profiled itself, among other things, with a large number of golf simulators and Trackman stroke analyzers in its large practice venues. The “entertainment use” of the simulators has also increased in Golf Sky’s four stores, Rehumäki says.

“We use them to fit rackets, but a lot of people will also play with well-known Pebble Beach and St Andrews fields with a group of friends.”

Gnolf’s listing advisor is Ernst & Young Oy.

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