Business Model and Strategy

PROGRESS IN 2022  

• We delivered record organic growth in 2022 with 25 new locations plus the acquisition and conversion of 3 competitor sites, opening a total of 28 new gyms.

• With sizes ranging from 8,000 to 21,000 square feet, our adaptable model and flexible format has allowed us to deliver exceptional gym facilities in a wide range of locations and building types.

• Our strong relationships with landlords and financial covenant continue to enable us to secure prime locations.

RISK

• Maintaining a growing mature estate
• Operational gearing

PERFORMANCE MEASURES

• 229 Total number of gyms at 31 December 2022 (vs 202 in 2021)

PROGRESS IN 2022

• We further strengthened the flexibility for our members to workout whenever and wherever suits them by adding the highly rated Fiit ondemand fitness app to our premium Ultimate membership for no additional cost.

• Ultimate, which provides access to all our 229 sites, was chosen by 29.7% of our members, the highest proportion ever.

• Sentiment across social and app reviews supports our consistently high member service scores, in particular 96% positive sentiment for ‘friendly’ and 97% for ‘atmosphere’ demonstrate how much our members value these strengths.

RISKS

• Member experience
• Reputation, brand and trust

PERFORMANCE MEASURES

• 96% of members rated us outstanding (5 out of 5) for staff friendliness

PROGRESS IN 2022

• A significant investment has been into digital this year. We launched our new customer facing website designed to work brilliantly on mobile devices, which is where we see most of our web traffic.

• We continued to invest in technology infrastructure throughout 2022, benefiting members and staff. A new cloud hosting platform, launched in April, uses the latest technologies to maximise performance and deliver the best online experience to members across web and app.

• We also launched our new brand identity in 2022, successfully deploying a new visual presence across 229 external signs, and rebranding key digital touch points across our website and member app.

RISKS

• Reputation, brand and trust
• IT dependency
• Data protection

PERFORMANCE MEASURES

• 27% more digital users in July - Dec 2022 (versus the same period in 2021, across website and app combined, compared to 14% estate growth)

PROGRESS IN 2022

• We launched our ‘people promise’ to focus on our commitment to provide development opportunities and career pathways, support employee wellbeing and nurture a friendly and inclusive culture.

• We launched our Emerging Talent and Apprenticeship programmes providing development opportunities for our operational and support teams.

• We were awarded the We Invest in Wellbeing Silver accreditation in recognition for our ongoing focus on employee wellness and maintained our Investors in People Gold accreditation

RISK

• Reputation, brand and trust
• Our people

PERFORMANCE MEASURES

• 48% promotion rate – Fitness Trainer Emerging Talent programme

PROGRESS IN 2022

• In 2022 we delivered £ [xxx] million of social value in communities across the UK through work outs in our gyms contributing to the improved health, wellbeing and educational development of our members and have increased the percentage of our members working out regularly in our gyms (more than 4x per month) by 6%.

• Our commitment to net zero has taken a significant step forward with a detailed preparation of a full submission to the Science Based Targets Initiative (SBTi).

• We are working towards our gender balance targets of 50/50 gender balance by 2030 and 40% female leaders by 2025. In 2022 we increased the percentage of female senior leaders by 6.3% to 35.1% (up from 28.8% in 2021).

RISK

• Reputation, brand and trust

PERFORMANCE MEASURES

• £756m of social value created in 2022