Gym Group (The) PLC (LSE:GYM)
£ 1.572 -0.014 (-0.88%) Market Cap: 279.64 Mil Enterprise Value: 664.84 Mil PE Ratio: 0 PB Ratio: 2.19 GF Score: 73/100
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Half Year 2024 GYM Group PLC Earnings Call Transcript

Sep 11, 2024 / 08:00AM GMT
Release Date Price: £1.56 (+8.62%)
William Orr
GYM Group PLC - Chief Executive Officer, Director

Well, good morning, and welcome to the 2024 half year results presentation for the GYM Group. Thank you for making the time to join us in the room and also on the dial in. After the presentation, we'll take questions in the room first and then from the webcast, our CFO, Luke Tait and I will be doing the presenting today. It's what we plan to cover.

I'll start with an overview before handing to Luke to share our 2024 half-year financial results. I'll then provide a progress report on the next chapter of growth strategy that we outlined in March this year.

And I'll then summarize before taking questions. So starting with the overview, I'm pleased to report strong performance in the first half of 2024, leaving us well set for the full year. Closing membership was up 4% and yield 9% with revenue for the period up 12%, 9% on a like-for-like basis. Strong cash generation is an important part of our investment case, and we've made good progress here. We've reduced net debt by GBP11.8 million since December 2023 and generated $24.5

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