Viva Leisure (ASX: $VVA) FY2024 Full Year Results

Viva Leisure (ASX: $VVA) has reported a record full-year profit for FY2024, with revenue increasing by 15.9% to $163.6 million and EBITDA rising by 21.0% to $35.4 million. The company's NPAT (pre-AASB16) also saw a significant increase of 19.7% to $10.6 million. Viva Leisure's corporate membership grew by 10.0% to 200,067, and network membership increased by 6.5% to 372,354. The company demonstrated strong operational cashflows, with free cash flow before Growth Capex and tax amounting to $15.5 million for FY2024, compared to $13.4 million for FY2023. Utilisation remained strong at 72.6% in corporate locations, indicating continued strong demand and customer satisfaction.

Executive Commentary on FY2024 Performance

The FY2024 results reflect Viva Leisure's ability to achieve significant growth in revenue and EBITDA, despite economic headwinds. The company's focus on operational efficiency and strategic investments has contributed to the improved margins and strong financial performance. We are pleased with the progress made in our corporate membership and network membership, as well as the successful completion of the strategic refurbishment program. The strong exit run rate, along with the full rollout of Viva Pay and Hub technologies across our franchise network, positions us for further growth in FY2025.

Summary of FY2024 Results and Outlook

Viva Leisure's FY2024 results demonstrate a robust financial performance, driven by strong revenue and EBITDA growth. The company's strategic investments in technology, acquisitions, and site upgrades have contributed to improved margins and operational efficiency. With a focus on customer satisfaction and continued membership growth, Viva Leisure aims to capitalize on the strong platform established in FY2024 for further upside in FY2025. The company plans to leverage opportunities for membership growth, synergies from recent acquisitions, and cost management. Additionally, Viva Leisure is set to benefit from the expanding Digital Signage and Vending machine network, the launch of Supp Society, and the introduction of new technology products to enhance membership and access options. The successful completion of the strategic refurbishment program and the implementation of Viva Pay and Hub technologies provide a solid foundation for the company's future growth and profitability.