Viva Leisure reports 15.9% growth in annual income

Leading health club group Viva Leisure has reported that its income in the 2023/24 financial year increased by 15.9% to $163.6 million, with EBITDA increasing 21% to $35.4 million for the period.

Advising that performance was "driven primarily by strong organic growth", the group's financial statements for the year ending 30th June, provided a comprehensive overview of the company’s fiscal performance and operational developments.

With the group having reached more than 360 locations earlier this month, the 2023/24 financial year saw its corporate membership increase 10% to 200,067 and membership across the network rise 6.5% to 372,354.

The full year results presentation also reveals $18.2 million in investment in new sites, acquisitions, technology and site upgrades, along with an ongoing refurbishment plan and the completion of a full roll out of Viva Pay and hub technologies access the group's franchise network.

Overall, Viva Leisure now owns and operates the second-largest health club network in Australia and is ranked the 20th largest club operator in the world by the Health and Fitness Association (the former International Health, Racquet and Sportsclub Association/IHRSA).

The report also previews the upcoming launch of Viva Leisure's member oriented Supp Society.

Over recent weeks, Viva Leisure has also secured additional banking facilities from Commonwealth Bank, freeing up significant free cash flows.