Viva Leisure's Harry Konstantinou explains fitness as a lifestyle philosophy

Harry Konstantinou, Chief Executive and Managing Director of Viva Leisure, has shared his thoughts on the group's growth and performance.

With Viva Leisure ending last week with 160 corporate owned locations and having recorded better than expected performance in all key metrics in the second quarter of Viva Leisure of the current financial year, Konstantinou (pictured) yesterday wrote on social media “a total of 1248 days have passed since VVA listed on the ASX on 7 June 2019. During that period, we have increased our club count by 131 locations which equates to a new corporate owned location every 9.5 days.

“But it isn't just about locations, clubs or unit numbers, it is about changing lives for our (~334,000) members, it is about increasing profitability for our shareholders who trust us to execute on the Viva vision and bringing the unique multi-brand strategy to more Australians. I believe the team is executing this so diligently, and i could not be prouder of them!

“I'd love to know which other fitness business in the world has opened, acquired a new corporate location every 9.5 days over the past 3 years.

“A few weeks back we issued some Guidance on where we see our financial performance at the end of FY23, and that surprised a few people. To recap, for FY23, we believe we will generate EBITDA performance of $28-$30 million. To put that into perspective, when we listed we were targeting $7 million EBITDA. All this through COVID. I just sit here and imagine what we can do now that lockdowns are behind us. So exciting.

“Fitness is a lifestyle as we say in our Club Lime marketing. It is not discretionary spend, and the demand we have for our service and the fitness industry in general proves this.”

Viva Leisure’s second quarter performance saw it report revenue exceeding $11 million for the first time in August 2022 (and $10 million in May 2022), with annualised revenue now exceeding $138 million.

Average revenue per member per week has for the previous two months exceeded $15 (ex GST), while membership numbers across the group at the end of October stood at over 333,500, an increase of over 36,000 since December 2021.