The company opened three new gyms in the first half of the year and is present in four additional locations as of July 9. This keeps it on track to open 14-16 gyms in 2025. One city center gym closed during the reporting period.

Net debt was £51.2 million as of June 30, compared to £61.3 million as of December 31, 2024. Net debt is expected to return to the December 2024 level by year-end, as new gym openings and refurbishment programs are weighted toward the second half of the year. In June, the Group agreed a one-year extension to existing bank borrowings and a £12 million increase to the available RCF facility. As a result, the Group now has a combined £102 million credit facility, consisting of a £45 million term loan and £57 million RCF, maturing in June 2028.

Will Orr, CEO of The Gym Group, commented: 

"We have achieved sustained momentum in the first half of the year with continued good membership growth and returns. We are seeing excellent performance at our new locations, supported by a tailored marketing approach and the continued development of our location offering. We remain confident in our outlook for the full year and look forward to providing more comprehensive updates to the market in September."

Source: The Gym Group
Picture: The Gym Group