At the pandemic's peak, the gym business lost a third of its 1.1m members globally, some shifting to training at home permanently. Moneyweb
Despite consistent recovery over the past year, Virgin Active remains quite far off its pre-Covid-19 membership and revenue levels. Restrictions due to the pandemic saw between six and nine months of lost trading at its operations in South Africa, the UK, Italy, Australia, Singapore and Thailand. At the peak, it lost a third of its 1.1 million global members. Many of them shifted to training at home, some permanently.
This is why is it so critical for it to get Virgin Active back into shape by next year. The bulk of the value in Brait now rests on Virgin Active. In its last accounts, Brait valued the gym business at around R8 billion. The Kauai and Nü businesses, acquired as part of the restructuring of the SA business last year, are performing well. Sales are up 31% on pre-Covid levels, with Ebitda up 51% . In-gym stores are outperforming standalone ones.
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