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08 Feb 2024
Go fit confirms plans to enter the Italian market following release of strong financials
BY
Kath Hudson
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Go Fit achieved growth and higher sales in 2023
photo: Go Fit
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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