A GROWING MARKET FOR LOW COST GYMS
The UK health and fitness market grew significantly with 15.6% of the UK population having been a member of a gym prior to Covid. This growth was led by the low cost gym sector which was introducing new people to gym memberships for the first time every year. Whilst having a short term impact on the health and fitness sector, COVID-19 is likely to increase gym usage and headroom for significant growth remains with the number of low cost gyms in the UK forecast to almost double by 2026.
PROVEN BUSINESS MODEL ENABLED BY TECHNOLOGY AND ECONOMIES OF SCALE
Our technology-led business model has re-engineered the traditional gym operating model, removed costly underused facilities and enabled us to offer a high quality gym experience at a very low price.
STRONG RETURN ON CAPITAL
We continue to use the increasing scale of our Company to drive cost efficiencies across the entire business, enabling us to deliver great value to our members as well as a strong financial return to shareholders. Prior to Covid we consistently delivered a return on capital in our mature estate of more than 30%.