2023 marks an outstanding year for the fitness and technology company EGYM, which increased its turnover by an incredible 60% according to industry experts. This development led to an operating profit for the first time, as reported by Handelsblatt.
EGYM is determined to maintain this rapid pace of growth. The positive development in corporate client business, which is doubling every year, is particularly striking. CEO Philipp Roesch-Schlanderer emphasizes the goal of making EGYM profitable in the long term.
EGYM has secured well-known reinforcements for its further expansion plans. The former CEOs of Life Fitness and Precor, Chris Clawson and Rob Barker, are now part of the team. Their expertise will be particularly useful in the USA and international markets.
Another milestone in the company's development was the successful raising of capital last year. US investor Affinity Partners invested up to 207 million euros in the company, which was subsequently valued at around 600 million euros.
A key sales driver is the corporate fitness offering EGYM Wellpass, which was strengthened in particular by the acquisition of French competitor Gymlib. Around 10,000 companies and hundreds of thousands of employees in Germany, Austria and France benefit from this offer.
EGYM's continued growth could lead to an IPO in the medium term. Even if there is currently no fixed timetable for the IPO, the now profitable company enjoys increased flexibility.
Editorial team fitnessmarkt.de
Source and image source: BODYMEDIA
Published on: 23 January 2024