New investments of Benefit Systems SA

•    Benefit Systems increases its involvement in the Polish fitness market

•    The company invests in a range of products that support an active and healthy lifestyle

•    Investments in the development of the fitness network are a consequence of the dynamic development of the MultiSport sports cards program

Benefit Systems entered into 3 agreements on the acquisition of shares of fitness club networks – Zdrofit, Fitness Club S4, and Tiger. These networks have a total of 35 sports and recreational facilities throughout Poland. The agreements entered into on 22 June of this year involve the acquisition, in the first stage of the transaction, of 30% of shares in Fitness Club S4 and Tiger and an increase in the shares of Zdrofit from 28% to 55%. The total value of these investments will amount to PLN 22.4 million. Moreover, according to the agreements, Benefit Systems obtained the right to increase its shares in all of these entities to the level of 100% over the next 4 years. Additionally, the company signed a letter of intent with the Calypso network, on the basis of which negotiations to increase the number of shares in Calypso Fitness SA by 50.1% to 83.4% will be conducted. The value of this investment will amount to PLN 81.3 million, of which PLN 27.5 million will be paid in cash and the remainder in shares of Benefit Systems.

We are consistently taking action that increase our involvement in the Polish fitness market. Our investments in fitness clubs are aimed to create a firm and attractive infrastructure for the growing number of users of our sports cards, says Grzegorz Mędza, a member of the Management Board of Benefit Systems SA. A wide and interesting range of sports and recreational activities within the framework of our investments and their adaptation to the needs of customers has a positive impact on the sale of sports cards, which in turn has a positive effect on our financial results, he adds.

For several years now, Benefit Systems SA has been pursuing a strategy of investment in the fitness industry, and supports its development and professionalisation. So far, the company had majority shareholdings in the Fitness Academy and Fabryka Formy networks, and minority shareholdings in Calypso and Zdrofit.

Benefit Systems has been operating on the Polish market since 2001 and has been listed on the Warsaw Stock Exchange since 2011. The company is the creator of the MultiSport sports and recreation program, which supports an active and healthy lifestyle of its users. Our sports cards provide access to nearly 4,000 sports and recreation facilities in more than 650 towns and cities throughout Poland. Moreover, starting from 25 June, MultiSport cardholders can use city bike systems in 12 cities. As part of the holiday program, the offer for MultiSport cardholders also includes outdoor swimming pools, rope courses, and other outdoor activities. At the end of the first quarter of this year, the sports cards offered by the Benefit Systems Group were used by more than 677,000 people. The sports offer is successfully developed by the company also in the Czech Republic, Slovakia, and Bulgaria, where the number of sports cards users is steadily increasing.