Viva Leisure's H1 FY2024 Financial and Operational Results

Viva Leisure Limited (ASX: $VVA) has reported its financial and operational results for the Half Year ended 31 December 2023. The company achieved a record set of H1 FY2024 results, including $79.1 million Revenue (+17.3%) and $16.6 million EBITDA (+18.6%). Membership increased by 9.8% to 180,071 in owned locations and by 6.2% to 345,317 in all locations. Utilisation increased by 120 basis points over the prior corresponding period to 70.9% in owned locations, indicating strong demand and customer satisfaction. Viva Leisure also provided FY2024 and Q4 run-rate guidance.

Executive Commentary on HY2024 Performance

Our HY2024 results continue to highlight the resilience and robustness of Viva Leisure's strategic direction and operational capabilities. On the back of a significant surge in revenue last financial year, this has continued in the first half with a 17.3% increase to $79.1 million for the half. Our EBITDA has climbed to $16.6 million, an increase of 18.6% from PCP and 9.2% half-on-half, a reflection of our relentless pursuit of improved margins and operational excellence. Utilisation rates remained strong, and our continued reinvestment back of $8.5 million for the half into the Company sets the stage for continued expansion and innovation.

Summary of Viva Leisure's HY2024 Results and Outlook

Viva Leisure's HY2024 results demonstrate a strong financial and operational performance, with significant increases in revenue and EBITDA. The company's strategic initiatives, including the refurbishment program, have contributed to the growth in membership and utilisation rates. Viva Leisure's guidance for FY2024 and Q4 run-rate indicates continual improvement of earnings and a focus on sustained financial performance. The company's ambitions include completing the refurbishment program, expanding through acquisitions and greenfield locations, and leveraging its proprietary billing and membership platform. With a solid location pipeline and the expectation of generating revenue from the vending machine network and in-club digital signage program, Viva Leisure is well-positioned for continued growth and innovation.