Overcomethe group of sports centers of the Portobello manager which is present in Spain and Portugal through a concessional model, updates its metrics until 2028. The company has submitted its new projections to the Alternative Fixed Income Market (MARF)in which it expects gross operating profit to reach 29.6 million euros in 2028 and the revenue margin to be 41.7%.
The figures reflect notable growth of the companywhich serves 200,000 members and has more than 1,100 employees. Its EBITDA at the end of the last completed financial year was 12.4 million euros and its margin was 29.4%.
The company hopes that the good performance of the coming years will work in its favor to reduce its leverage. Its projected net financial debt for the next four years is 94.6 million eurosa figure that represents a leverage of 3.2 times ebitda (currently this ratio is more than seven times).
To achieve this new metric, the Supera bondholders’ union must authorize the novation of the MARF bond and the new payment conditions to Cofides, with a deferral in the payment of the debt of three million to 2026, among other conditions.
The company faces this new stage after chaining several years of growth. In 2023, Supera improved results and consolidated its business model. Thus, the group increased its sales by 24.7% compared to the previous year, which benefited the increase in EBITDA margins on sales by 15.8 percentage points.. “This evolution will allow us to exceed pre-pandemic levels in 2024,” the company explains in its latest annual accounts.
Booming market
The outlook is generally positive. The fitness sector is expected to recover its growth trend, taking into account the latest report carried out by the professional services firm BDO entitled ‘Perspectives of the Fitness Market in Spain 2024’. The work states that “more than nine in ten fitness companies will improve their revenue compared to the previous year.”
The other trend that the study shows is that the sector continues to look for partners to maintain and even accelerate their respective expansion plans. In this sense, the Spanish market has experienced a battery of operations mainly carried out by different ‘private equity’ so far in 2024. Providence, for example, has entered the low-cost gym chain VivaGym to take over from Bridges Fund and has already acquired new establishments (ten of the eleven clubs in the Smartfit chain).
The list goes on. Pan-European private equity fund All Seas Capital took a minority stake in Synergymwhile the Spanish fund Alter Capital did the same in Wifit Gyms, in an operation in which the terms of the agreement did not transcend.
#Portobello #foresees #million #operating #profit #Supera #gyms
