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Go Fit confirms plans to enter the Italian market following release of strong financials
POSTED 08 Feb 2024 . BY Kath Hudson
Go Fit achieved growth and higher sales in 2023 Credit: Go Fit
In its latest financial results Go fit reveals its EBITDA was up by 30 per cent to €31 million last year. Sales increased by 15 per cent to €77 million
The company has confirmed it will enter the Italian market, with its first location in Turin
A new club is also under construction in Tenerife and will open in 2025
Clubs are built in partnership with local authorities and offer evidence-based services covering exercise, nutrition, rest and motivation at an affordable price
Iberian operator, Go fit, has confirmed its plans to move into the Italian market next year, following the release of strong year-end results for 2023.

The company currently has 20 clubs: two in Portugal and the rest spread across Spain. Its most recent development is a €22 million site in Tenerife in partnership with the local authority of the island, which will open in the first quarter of next year. The Turin club is scheduled to open next year and marks the operator’s entry into the Italian market.

This news comes in the wake of a strong recovery from the pandemic, with the company having reached pre-COVID levels in early 2023. EBITDA increased to €31 million last year, a 30 per cent increase on 2022, while sales increased by 15 per cent to €77 million. This was achieved through increases in income and cost efficiencies.

Speaking exclusively to HCM, strategy and innovation director and MD UK, Steve Ward, said: “The results of 2023 demonstrate the resilience and success of our business model and our readiness for new adventures. The years ahead are full of excitement for us, as we take our concept to new communities and increase our impact on society as a result.

“We're proud of our track record in inspiring people, families and communities to live healthier and happier lives and striving to create a more sustainable society as a result. This is made possible thanks to our capacity to invest significantly from our own resources in the creation of powerful partnerships with local authorities that result in world class services impacting the communities we serve.”

Go fit was selected by the United Nations Economic Commission for Europe in 2022 as an example of best practice for public-private partnerships (PPP.) This sees the company bid for long-term contracts to design, build, operate and manage facilities on public land. A PricewaterhouseCoopers audit of its social value showed the impact of its PPP model to be worth €300m a year in Spain.

The clubs offer evidence-based services covering exercise, nutrition, rest and motivation at an affordable price. Facilities include gyms, pools and classes. Concessions are offered to the economically disadvantaged and members’ children (under 16) can visit clubs free.

The CEO of Go fit, Mario Barbosa, will be profiled in an upcoming edition of HCM magazine. Sign up here and we'll email you a free digital edition on publication.

Barbosa will also be speaking at the upcoming European Health and Fitness Forum, where he will share insights from his transition to the health and fitness sector after a long career within McDonald's that culminated with him being the first European member of the Global Executive Committee as VP for East Coast US.
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Jobs    News   Products   Magazine
NEWS
Go Fit confirms plans to enter the Italian market following release of strong financials
POSTED 08 Feb 2024 . BY Kath Hudson
Go Fit achieved growth and higher sales in 2023 Credit: Go Fit
In its latest financial results Go fit reveals its EBITDA was up by 30 per cent to €31 million last year. Sales increased by 15 per cent to €77 million
The company has confirmed it will enter the Italian market, with its first location in Turin
A new club is also under construction in Tenerife and will open in 2025
Clubs are built in partnership with local authorities and offer evidence-based services covering exercise, nutrition, rest and motivation at an affordable price
Iberian operator, Go fit, has confirmed its plans to move into the Italian market next year, following the release of strong year-end results for 2023.

The company currently has 20 clubs: two in Portugal and the rest spread across Spain. Its most recent development is a €22 million site in Tenerife in partnership with the local authority of the island, which will open in the first quarter of next year. The Turin club is scheduled to open next year and marks the operator’s entry into the Italian market.

This news comes in the wake of a strong recovery from the pandemic, with the company having reached pre-COVID levels in early 2023. EBITDA increased to €31 million last year, a 30 per cent increase on 2022, while sales increased by 15 per cent to €77 million. This was achieved through increases in income and cost efficiencies.

Speaking exclusively to HCM, strategy and innovation director and MD UK, Steve Ward, said: “The results of 2023 demonstrate the resilience and success of our business model and our readiness for new adventures. The years ahead are full of excitement for us, as we take our concept to new communities and increase our impact on society as a result.

“We're proud of our track record in inspiring people, families and communities to live healthier and happier lives and striving to create a more sustainable society as a result. This is made possible thanks to our capacity to invest significantly from our own resources in the creation of powerful partnerships with local authorities that result in world class services impacting the communities we serve.”

Go fit was selected by the United Nations Economic Commission for Europe in 2022 as an example of best practice for public-private partnerships (PPP.) This sees the company bid for long-term contracts to design, build, operate and manage facilities on public land. A PricewaterhouseCoopers audit of its social value showed the impact of its PPP model to be worth €300m a year in Spain.

The clubs offer evidence-based services covering exercise, nutrition, rest and motivation at an affordable price. Facilities include gyms, pools and classes. Concessions are offered to the economically disadvantaged and members’ children (under 16) can visit clubs free.

The CEO of Go fit, Mario Barbosa, will be profiled in an upcoming edition of HCM magazine. Sign up here and we'll email you a free digital edition on publication.

Barbosa will also be speaking at the upcoming European Health and Fitness Forum, where he will share insights from his transition to the health and fitness sector after a long career within McDonald's that culminated with him being the first European member of the Global Executive Committee as VP for East Coast US.
RELATED STORIES
FEATURE: Write to reply: Celebrating 300 editions of HCM


As it celebrates its 300th edition, HCM can feel proud of producing the richest primary source material for our great sector, says Steven Ward of GO Fit
FEATURE: Interview: The GO Fit standard


Iberian fitness operator GO Fit is developing a low-cost, personalised gym offering based on the latest exercise science from academia
MORE NEWS
JD Gyms acquires Simply Gym as it targets 100 locations
The JD Gyms Group has completed a deal to acquire Simply Gym from Bay Leisure. The deal comprises four gyms: one in Greater London and three in South Wales.
Baz Moffat gets 'sweat equity' backing from Priya Oberoi to drive the growth of The Well HQ
Women’s health specialist, The Well HQ, has secured 'sweat equity' backing from Priya Oberoi, founder of venture capitalists, Goddess Gaia Ventures, who will take on a senior advisory role with the business.
Peloton buys time for a turnaround with US$1 billion loan
Peloton has secured a critical US$1bn five-year loan to shore up its finances.
Dean Kowarski, global CEO of Virgin Active, will keynote at HCM Summit 2024
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Places Leisure is a leading leisure centre operator with a mission to create active places and healthy people for communities to thrive. [more...]

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Following a hugely successful event last year in Split, Croatia, W3Fit EMEA, is heading to the Chia Laguna resort in Sardinia from 8-11 October. [more...]
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Physical

Physical is the UK’s go-to, one-stop shop for commercial grade fitness equipment and flooring, with [more...]
+ More profiles  
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DIARY

 

30-30 May 2024

Forum HOTel&SPA

Four Seasons Hotel George V, Paris, France
30 May - 02 Jun 2024

Rimini Wellness

Rimini Exhibition Center, Rimini, Italy
+ More diary  
 


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©Cybertrek 2024

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