The Gym Group plc (GYYMF) Q2 2026 Earnings Call Transcript

SA Transcripts 162.15K Followers Follow The Gym Group plc ( GYYMF ) Q2 2026 Earnings Call September 9, 2026 4:00 AM EDT Company Participants William Orr - CEO & Executive Director Luke Tait - CFO & Executive Director Conference Call Participants Harold Jack - Peel Hunt LLP, Research Division Anna Barnfather - Panmure Liberum Limited, Research Division Ross Broadfoot - RBC Capital Markets, Research Division Jack Cummings - Joh. Berenberg, Gossler & Co. KG, Research Division Timothy Barrett - Deutsche Bank AG, Research Division Nigel Parson - Cavendish Securities plc, Research Division Presentation William Orr CEO & Executive Director Good morning, and welcome to the 2026 Half Year Results Presentation for The Gym Group. Thank you for making time to join us in the room and on the dial-in. After the presentation, we'll take your questions in the room first and then from the webcast. Our CFO, Luke Tait and I will be doing the presenting today. And here's what we plan to cover. I'll start with an overview before handing to Luke to share our 2026 half year financial results. I'll then provide a further progress report on our Next Chapter growth plan and summarize before taking your questions. So starting with the overview. I'm pleased to report a strong performance for the first half of 2026. Average membership was up 5% with revenue for the period up 10%, 3% on a like-for-like basis. With this revenue growth and continued cost discipline, EBITDA (sic) [ adjusted EBITDA ] less normalized rent was up 12% to GBP 30.8 million. The market remains highly attractive. U.K. gym penetration has reached another new high at circa 18% with high-value, low-cost gyms continuing to grow share. Within our Next Chapter growth plan, we continue to strengthen the core, supporting further progress in mature site performance and ROIC. And we continue to accelerate the rollout of quality new sites. We expect to open at least