Viva Gym gets muscle. The Spanish chain of fitness centers anticipates an increase of 44% in its income, reaching one hundred million euros at the end of this financial year, as revealed by the CEO of Viva Gym, Juan del Río, to Palco23. Among the company’s plans, the jump to two new European countries in 2025 stands out.
The company closed last year with income of 76 million euros “Motivated by the global recovery, although still conditioned by the restrictions at the beginning of the year,” del Río admitted.
At the moment, Viva Gym has one hundred gyms between Spain and Portugal and during the present academic year he has in his roadmap the opening of between six gyms and ten gyms in the territory. In addition, the chain intends to “become a company with a presence in four European countries from 2025”, the CEO pointed out. “We like Europe, although we do not rule out making the leap to another continent that same year,” added the manager.
Viva Gym has one hundred gyms between Spain and Portugal
The company, although last year increased its gross operating result (ebitda) to 25 million euros compared to 2021, failed to reach pre-pandemic figures. In 2019 it recorded revenues of 85 million euros. “We have been producing a positive ebitda during all the months of 2022 and the first quarter of 2023 has also been positive, so we anticipate that this year we will reach a positive ebitda of 24 million euros”, the manager pointed out.
In 2022, the gym chain also managed to recover 35% of its members, reaching 270,000 members in the peninsula that year, of which 155,000 members belonged to Spain and the rest, 115,000 subscribers, to Portugal. For this year, del Río anticipates reaching 310,000 members.
In 2022, the chain focused on allocate part of your budget to technological investments, remodel around twenty gyms and carry out four openings. During 2023, the company intends to reform another twenty gyms and allocate a large part of its budget to the opening of up to ten new centers, although the amount of the investment has not been made public.
The chain plans to increase the number of members to 310,000 subscribers in 2023
VivaGym has managed to maintain the impact of the increase in energy costs, since “our operating account has not experienced a great impact in the item of expenses due to the increase in energy costs,” said del Río. The chain does not have aquatic facilities or large sites.
The chain’s income comes entirely from membership feeswhich combine the subscriptions with the services that are provided outside the usual fee, while the three main sources of spending are the rent of the gymnasium premises, the salaries of the 1,200 company workers, and energy consumption .
Founded in 2011, Viva Gym Group is one of the main operators in the low-cost gym segment and also the owner of Fitness Hut in Portugal.. The company’s shareholders are made up of the venture capital company Bridges Ventures, with 51%, the management team and other minority shareholders, with 14%, while the remaining 35% is in the hands of Vivagym Holdings, controlled by the Singh family. In addition, VivaGym Group acquired the companies Happy Gym and Duet Fit in 2019.
