Gym Group Expects 2026 Profit at Upper End of Analyst Forecasts

The Gym Group announced today that it expects full-year earnings to land at the top of analyst estimates, pointing to continued business momentum during the first half of the year.

The value-focused gym operator now guides to fiscal 2026 EBITDA excluding normalized rent at the upper end of the consensus range, implying an approximate 1% increase versus the average forecast. The company-compiled consensus stands at £61.1 million, with the highest estimate at £62.0 million.

Management said it remains on course to deliver 3% like-for-like revenue growth for fiscal 2026, matching the performance recorded in the first half. Like-for-like cost growth is now expected to come in at the lower end of the previously guided 3% to 4% range.

For the first half, EBITDA excluding normalized rent rose 12% to £30.8 million. Free cash flow increased 10% to £27.7 million, while adjusted profit before tax climbed 31% to £6.4 million. The company held leverage steady at 1.0 times.

First-half revenue advanced 10% year over year to £133.1 million, or 3% on a like-for-like basis. Total memberships increased 7.4% compared with the end of 2025 to 0.99 million. Average memberships grew 5% year over year to 1.0 million, and average revenue per member per month rose 5% to £22.14.

The Gym Group opened four new sites in the first half and currently has 11 locations under construction. The company continues to target at least 20 new site openings for the full year and approximately 75 over the next three years, with the rollout funded from free cash flow.

Three sites were refurbished during the first half, with 18 more planned for the second half. The ten locations refurbished in 2025 achieved a 10% membership increase and are on track to generate a 30% return on invested capital.

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