Supera aims to grow to 37 million in 2022

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Centros Supera continues to talk with the Valencia City Council to resolve the future of the Ayora and Abastos municipal swimming pools

(15-7-2022) Centros Supera points to sales growth close to 30% this 2022. The Sidecu gym chain expects to exceed 37 million euros after turning 28 in 2021.

The chain of gyms Supera recovers oxygen. The brand expects to close this year with a 30% sales growth compared to 2021, as published in Marf. This would mean raising its turnover to 37.5 million euros, 8.6 more than in 2021 (28.9). If this figure is reached, it would still be 23% below the turnover achieved before the pandemic (48.24 million in 2019).

The company also anticipates an improvement in EBITDA margins to pre-pandemic levels. In the first semester, Supera achieved a 70% improvement in sales compared to the first six months of 2021, a period in which there were still closures and restrictions derived from the pandemic.

The banner went from a negative EBITDA of -266,342 euros in the first half of 2021 to a positive one in 2022 (1.2 million) despite the increase in energy costs, which were mitigated by the signing of two electricity supply contracts and gas for a period of three years. As will be recalled, Supera closed swimming pools and water areas in 10 centers to reduce energy costs during the first quarter of the year.

The chain reopened most of them in June. The future of facilities such as the municipal swimming pools of Ayora and Abastos, in Valencia, remains to be resolved, since these are centers whose concession has expired for years. The consistory is studying putting them out to tender in the coming months.

THE TERMS OF THE COFIDES LOAN

Supera also details the details of the 15 million euro loan it has received from Cofides. It is 100% a participating loan. The company may allocate the amount of this financing to restore its financial viability and, in particular, payroll and social security payments, ordinary operating payments for the activity (operating expenses), capex payments and financial payments.

According to the company, its intention is to use the funds to meet financial payments of Sidecu and capex payments of the group. The loan bears interest at Euribor, for 12 months, plus a margin (2.5% from the first anniversary of the financing and 3.5% thereafter) plus an additional variable margin (between 1 and 4 %) based on sales.

The Cofides financing matures on March 18, 2025, coinciding with the maturity date of Sidecu’s €70 million bond issue. The participating loan has three partial repayments: 3 million euros in December 2023; 6 million in December 2024 and another 6 million in March 2025.

In order to access financing from Cofides, Sidecu has had to assume various commitments, including the renewal of lines of credit with ICO guarantees, a loan of 500,000 euros by the company’s shareholders, the signing of a mandate to the potential sale of a series of assets or commitments not to distribute dividends.

108,800 SUBSCRIBERS IN 2025

As of June 30, 2022, Supera has 71,187 average subscribers, which represents a growth of almost 25% compared to the end of 2021 (56,341). Looking to the end of 2025, within three years, the company hopes to reach 108,800 subscribers.


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