The Holmes Place Group, which manages a chain of fitness and health clubs, this morning publishes its financial results for the third quarter of 2022.
The company currently operates 57 health and fitness clubs nationwide. The number of subscribers amounted to about 170 thousand subscribers at the end of the quarter compared to about 142 thousand subscribers last year.
Revenues by division into sectors: about NIS 94 million from the Holmes Place club sector and about NIS 29 million from the Icon Fitness club sector.
the gross profit In the third quarter of 2022 it amounted to NIS 21.5 million compared to NIS 16 million in the corresponding quarter – an increase of 34%. When the gross profit rate for the quarter was 17.7%.
the net profit The quarter amounted to about 11.5 million NIS, an increase of about 79% compared to a net profit of about 6.4 million NIS in the corresponding quarter last year. The net profit in the quarter almost tripled compared to the 3rd quarter of 2019, before the outbreak of the Corona epidemic.
God- EBITDA In the quarter, it amounted to about 18.5 million NIS, a growth of about 28% compared to the corresponding quarter last year. The figure also shows an increase compared to the previous quarter, in which the EBITDA amounted to about 17.8 million NIS and showed an increase of about 30% compared to the figures The 3rd quarter of 2019, before the outbreak of the Corona epidemic, which were about 14.4 million NIS. The EBITDA multiplier is about 5.5.
net income flow, Presents the EBITDA after deducting tax expenses and financing flows and deducting existing investments, the quarter amounted to approximately NIS 15.8 million. Also in this parameter, Holmes Place shows an increase of about 53% compared to the figures of the corresponding quarter, when it was about 10.3 million NIS.
According to Keren Shatoi, CEO of Holmes Place, “The growth trend of the number of club members, the opening of new clubs and accurate and professional management are the factors that influence the good results we present quarter after quarter. Holmes Place will continue to grow in the coming quarters in all activities thanks to a clear strategy.
Accurate management, attention to detail, understanding the needs of the club members, striving for the professionalism of all the group’s employees while taking efficiency measures and placing emphasis on the experience of the Holmes Place trainers – attracting new club members and preventing the abandonment of existing ones, all of these increase the gross and operating profit rates of Holmes Place .
We are always on the move and looking for opportunities to identify and open new clubs where there is likely to be a population looking for solutions for fitness, health and leisure. Holmes Place does not stop and in the coming months we are going to open 3 more icon clubs, one family club and another mini family club.’
She added, “Today, I can say wholeheartedly that the best thing that happened to Holmes Place during the Corona virus is that we did not shy away, but continued in the group’s development trend – building and opening new clubs, icon clubs and family clubs, and the results we are publishing today show that above all doubt and difficulty , we made the right choice.
The results are the fruit of hard and strenuous work, of the management and staff members, of identifying opportunities in moments of crisis and manipulating them into optimal results.
Our wide range of clubs, including 57 clubs nationwide, that meet the needs of all club members, with premium products at attractive prices compared to the existing competition in the market.
Since the beginning of the year we have opened 5 new clubs (2 in the Holmes Place sector and 3 in the Icon sector) which are in the ramp up period and will contribute increasing amounts to the company down the road.
In addition, we are currently in the pre-sale phase (pre-sale) in four clubs: two in the Holmes Place sector, in Ashdod and in Mevsaret, which are scheduled to open in the first quarter of 2023, and two in the Icon sector, in the Afka neighborhood of Tel Aviv, which are scheduled to open for regular activity in the first quarter of 2023, and in Yehud, which are scheduled to open for regular activity until the end of this year.’