Fitness & Beauty Professional Industry News 005
ClubCorp Increases Revenue to Record $1.1 Billion in 2015
ClubCorp cited solid same-store revenue growth and the addition of Sequoia Golf and other recently acquired clubs as factors that contributed to revenue growth in 2015. ClubCorp, Dallas, increased its full-year revenue in 2015 by 19 percent over 2014 to $1.1 billion, according to financials released Wednesday. Fourth quarter revenue in 2015 grew 9.6 percent to $331.7 million over the fourth quarter of 2014. ClubCorp cited solid same-store revenue growth and the addition of Sequoia Golf and other recently acquired clubs as factors that contributed to revenue growth in 2015. Same-store revenues increased by 2.5 percent to $20.5 million in 2015 compared to 2014. The same-store revenue increase was driven primarily by higher dues revenue and food and beverage revenue despite a 0.02 percent decline in golf operations revenue. ClubCorp’s adjusted earnings before interest taxes depreciation and amortization (EBITDA) increased 14.8 percent in 2015 to $79.6 million, driven by higher revenue and improved margin performance across both same-store and new and recently acquired clubs.
Technogym Files Papers for Possible IPO in Italy
The company announced that it had filed papers with Consob, the financial markets supervision authority in Italy, and Borsa Italiana, the Italian stock market. The public offering likely would not actually happen for several months, according to an article by bebeez.it. “Technogym has decided to evaluate, in a long term perspective, the opportunity of becoming listed by submitting a preliminary request for admission,” according to the Technogym announcement. Also in the announcement, Technogym shared that its 2015 revenue had 10 percent growth over 2014, coming in at EUR512 million ($566.8 million). Technogym was founded in 1983 by Nerio Alessandri in his garage. The company is 60 percent owned by Alessandri and his brother Pierluigi. The other 40 percent is owned by British private equity firm Arle, which purchased the minority share in 2008. Arle plans to exit the company in the future, which is why the company is evaluating a possible IPO, according to the announcement. Technogym plans to list about 40 percent of its capital in the Italian stock market, Reuters reported on Monday, citing an unnamed source close to the company. Rumors that Technogym was considering going public began in April 2015 with a Reuters report. BeBeez.it noted in September that Technogym was valued at EUR930 million ($1 billion).