Benefit Systems S.A.

Benefit Systems S.A. Announces 2026 Financial Reporting Schedule

Benefit Systems S.A., a leading provider of non-pay employee benefits and operator of fitness clubs, has released its financial reporting schedule for 2026. The company will publish its annual reports for 2025 on March 20, 2026, while consolidated quarterly reports will be issued on May 14, 2026 (Q1) and November 19, 2026 (Q3). Additionally, the semi-annual reports for the first half of 2026 will be available on August 20, 2026. In line with regulatory provisions, the company will not publish consolidated quarterly reports for Q4 2025 and Q2 2026.

Benefit Systems also confirmed that consolidated quarterly reports will include financial information, replacing separate standalone quarterly reports, as per the updated regulations from the Polish Ministry of Finance.

Relevance: This announcement is crucial for stakeholders and investors as it provides transparency and clarity on the company's financial reporting, which is essential for evaluating its performance and strategic decisions, including its fitness club operations and international expansion.

Benefit Systems S.A. Strengthens ESG Strategy and Corporate Governance Practices

Benefit Systems S.A., a leading provider of non-pay employee benefits in Poland and abroad, has reaffirmed its commitment to corporate governance and sustainability through its adherence to the "Best Practice for GPW Listed Companies 2021." The company has implemented a robust ESG (Environmental, Social, Governance) strategy, which includes annual non-financial reporting and plans to develop a comprehensive climate policy in the coming years. Benefit Systems also holds the prestigious B Corp certification, which it successfully recertified in 2023, marking its dedication to high social, environmental, and governance standards.

Despite its achievements, the company has identified areas for improvement, such as enhancing gender diversity in its management board and further integrating non-financial and sustainability criteria into its incentive programs. Benefit Systems has committed to achieving a minimum 30% representation of the minority gender in its governing bodies by 2030 and is actively working on standardizing risk and compliance management across its subsidiaries.

Additionally, the company has emphasized transparency in its investor communications, ensuring timely disclosure of financial results and maintaining open dialogue with stakeholders. While certain principles, such as electronic participation in general meetings, are not fully implemented due to the company's shareholder structure, Benefit Systems continues to prioritize shareholder engagement and governance excellence.

These efforts align with Benefit Systems' business model, which integrates the sale of sports cards with the management of fitness clubs, ensuring high service quality and operational synergies. The company's focus on ESG and governance practices supports its mission to provide sustainable and high-quality well-being solutions to its clients.

Relevance: This article highlights Benefit Systems S.A.'s ongoing efforts to enhance its ESG strategy and corporate governance, which are critical to maintaining its leadership in the non-pay employee benefits sector and ensuring long-term sustainability.

Benefit Systems S.A. Registers New Shares to Support Incentive Program

Benefit Systems S.A., a leading provider of non-pay employee benefits, has announced the registration of 25,300 Series G ordinary bearer shares with a nominal value of PLN 1.00 each. The registration, confirmed by the National Depository for Securities (KDPW) under the code PLBNFTS00174, follows the exercise of subscription warrants issued as part of the company’s conditional capital increase. This initiative is tied to the execution of the company’s Incentive Program for the years 2021-2025, aimed at motivating and retaining key personnel.

The registration process involved the deregistration of subscription warrants coded PLBNFTS00125 and PLBNFTS00166, which were converted into shares. This move underscores Benefit Systems’ commitment to aligning its corporate strategy with long-term employee engagement and performance goals.

Relevance: This development highlights Benefit Systems S.A.'s focus on incentivizing its workforce, which is critical for maintaining operational excellence and supporting its growth strategy in the competitive non-pay benefits market.

UOKiK Accuses Benefit Systems of Unfair Contract Practices

The Polish Office of Competition and Consumer Protection (UOKiK) has raised allegations against Benefit Systems S.A., accusing the company of violating collective consumer interests and employing unfair contract clauses. The charges include misleading marketing practices and lack of transparency in contract terms for sports memberships, such as the SMART and STUDENCKA PROMKA SMART offers. UOKiK claims that promotional materials emphasize attractive pricing for the first month but omit critical details, such as the 12-month commitment period without early termination rights.

Additionally, UOKiK has flagged the automatic renewal of contracts without clear consumer consent, misleading communication regarding the expiration of memberships, and clauses that increase fees upon renewal. These practices, according to UOKiK, place undue responsibility on consumers to avoid contract extensions and higher costs. If proven, Benefit Systems could face fines of up to 10% of its turnover for each disputed practice.

UOKiK is also investigating similar practices in other fitness chains, including CityFit and WellFitness, to assess transparency in contract terms and renewal policies.

Relevance: This article is significant to Benefit Systems S.A. as it directly impacts its reputation and business model, which relies heavily on subscription-based fitness memberships and consumer trust.

Benefit Systems Faces Allegations of Consumer Rights Violations

The Polish Office of Competition and Consumer Protection (UOKiK) has raised allegations against Benefit Systems S.A., accusing the company of violating collective consumer interests and using unfair contract clauses. If the charges are confirmed, the company could face penalties of up to 10% of turnover for each disputed practice and for employing prohibited provisions in contract templates. The investigation highlights potential risks for the company’s reputation and financial stability.

Relevance to Benefit Systems S.A.: These allegations directly impact Benefit Systems S.A., as they challenge the company’s business practices and could lead to significant financial penalties, affecting its operations and market position.

Benefit Systems S.A. Reports Record Growth in Active MultiSport Cards by End of 2025

Benefit Systems S.A., a leading provider of non-pay employee benefits, has announced a significant milestone in its operations. By the end of Q4 2025, the company reported a total of 2.52 million active MultiSport cards, marking substantial growth in its user base. Of these, 1.78 million cards were active in Poland, 680,300 in the EU international segment, and 56,600 in Turkey.

This achievement underscores the company's strong market position and the growing demand for its flagship MultiSport programme, which provides access to a wide network of sports and fitness facilities. The expansion in Turkey, following the acquisition of MAC Group, also highlights the company's successful international growth strategy.

Relevance: The article is relevant as it reflects Benefit Systems S.A.'s robust growth in its core business, aligning with its strategy of integrating sport card sales with fitness club operations to drive operational synergies and expand its international footprint.

Benefit Systems S.A. Issues Series G Shares Under Incentive Program

Benefit Systems S.A., headquartered in Warsaw, has announced the issuance of 25,300 Series G ordinary bearer shares as part of its 2021-2025 Incentive Program. A total of 76 participants exercised their subscription warrants (series Ł and M) and paid the issue price of PLN 617.01 per share. The issuance was conducted under the provisions of the Polish Commercial Companies Code and resolutions passed during the Extraordinary General Meeting on February 3, 2021. The rights to the Series G shares will be established upon their registration in securities accounts, and the company has submitted applications to the National Depository for Securities (KDPW) and the Warsaw Stock Exchange (GPW) for registration and trading of the shares on the regulated market.

Relevance: This development highlights Benefit Systems S.A.'s commitment to incentivizing its workforce, aligning with its business model of fostering employee well-being and engagement, which is central to its operations in the non-pay benefits sector.

Benefit Systems Acquires Majority Stake in Endorfina Group

Benefit Systems S.A. has announced the acquisition of a 51% stake in Endorfina Group and Endorfina FHU, with a projected purchase price of approximately PLN 95.4 million. The final price will be determined based on the normalized EBITDA of the companies for 2025, calculated using a single-digit transaction multiplier. This strategic move aligns with Benefit Systems’ focus on expanding its portfolio in the sports and recreation sector, further strengthening its position in the non-pay employee benefits market.

Relevance: The acquisition supports Benefit Systems’ business model by enhancing operational synergies and expanding its presence in the fitness and well-being industry, which is central to its flagship MultiSport card offering.

Benefit Systems S.A. Acquires Majority Stake in Endorfina Fitness Chain

Benefit Systems S.A., a leading provider of non-pay employee benefits and fitness services, has announced the acquisition of a 51% stake in Endorfina Group sp. z o.o. and Endorfina FHU sp. z o.o., with plans to acquire the remaining 49% by 2027. The total transaction will result in Benefit Systems owning 100% of the Endorfina fitness chain. The initial purchase price for the first stage is approximately PLN 95.4 million, subject to adjustments based on the normalized EBITDA of the companies for 2025. The price for the remaining shares will be determined based on the 2026 EBITDA results.

Endorfina currently operates 11 fitness clubs across cities such as Lublin, Rzeszów, Radom, Kielce, Częstochowa, and Starachowice, and has shown significant growth in 2024-2025. This acquisition aligns with Benefit Systems’ strategy to expand its fitness club operations in Poland.

Relevance: This acquisition strengthens Benefit Systems’ position in the fitness market, enhancing its operational synergies and expanding its proprietary fitness club network in Poland.

Benefit Systems Explores New Markets and Expansion Opportunities

Benefit Systems S.A., a leading provider of non-pay employee benefits, continues to actively analyze investment opportunities both in Poland and internationally, according to Marcin Fojudzki, a member of the company’s management board. While no acquisitions comparable to the MAC Group deal in Turkey are expected in the short term, the company remains open to strategic growth through acquisitions rather than solely relying on organic development.

The acquisition of MAC Group has encouraged Benefit Systems to consider entering new markets via acquisitions, marking a shift from its traditional approach of starting with card-based operations. Despite increased debt levels following the MAC acquisition, the company’s financial position remains secure, with a net debt-to-EBITDA ratio of 0.7x, providing room for further investments.

Benefit Systems reported strong performance in the fitness sector, with nearly 2.4 million sports cards issued across all markets by the end of Q3 2025. The company plans to add approximately 130,000 new cards in Poland and 100,000 in EU markets by 2026, alongside significant growth in Turkey. Additionally, it aims to open at least 70 new fitness clubs across Poland, Turkey, and other markets in 2026.

While the company expects operational profitability in Poland to remain stable next year, improvements are anticipated in EU markets, driven by increased card usage and the full-year consolidation of MAC operations in Turkey. However, breakeven in the EU fitness segment is unlikely before 2027 due to competitive pressures and market saturation.

Benefit Systems projects modest growth in average revenue per user (ARPU) in Poland and the EU, with no significant price increases planned. The Turkish market is expected to see accelerated card growth and improved margins, with profitability in the fitness segment anticipated by 2027.

Relevance: This article highlights Benefit Systems S.A.'s strategic focus on expansion and operational growth, aligning with its business model of integrating sports card sales with fitness club management to drive synergies and enhance service quality.