With record profits, Go Fit ramps up growth in Spain and Italy
European operator, Go Fit has announced record profits and the investment of €150 million in eight facilities between 2026 and 2028.
The company closed 2024 with a record turnover of €84.1 million, representing a 9.4 per cent increase in year-on-year growth. Without any new openings, this was achieved through cost efficiency and higher sales. Membership increased by 11 per cent to 232,800 customers, generating 13.9 million accesses to facilities – an increase of 7.7 per cent on the previous year.
Consolidated revenue is expected to increase by double digits in 2025 and 2026, with a target of €100 million revenue, thanks to the launch of two new facilities in the Iberian Peninsula and Italy.
This year Go Fit launched a €20 million sports centre in Santa Cruz, Tenerife and at the end of the year it will launch its first site in Italy, at an abandoned building in Turin that was once the flower market.
A further €150 million will be invested in eight more locations between 2026 and 2028, bringing the estate to 30. This will be funded with equity and external financing that is already in place. In 2024, the company signed a new financing agreement with Intermediate Capital Group until 2031.
Three projects are already underway – Milan and Bologna in Italy as well as Vitoria in northern Spain. This project, at a large shopping and leisure centre will include a gym, boxing, spa, swimming pools and sports courts over the first and second floors. An open-air gym is being considered for the roof. Further locations are in the pipeline for both Spain and Italy.
Steven Ward, strategy director of Go Fit said: “Our results in 2024 reflect the clear momentum we have as an organisation but are merely a staging post on where we are going. These results reinforce our foundations ahead of a period of sustained growth where we will bring our unique model to new territories in partnership with local authorities and other social value minded landowners.
“Our trajectory ahead is truly exciting, and we look forward to the transformative effect we will have on the health and wellbeing of the communities we will serve as we expand our reach.”
Go fit is the first company in the Spanish fitness sector to earn the I Calculate, Reduce and Compensate seal from the Ministry for Ecological Transition and Demographic Challenge, for its commitment to decarbonisation.
This certifies that the company has calculated greenhouse gas emissions since 2019 and effectively reduced them. Since 2023 Go Fit has offset them through an active reforestation project in Spain. It has also implemented the use of 100 per cent renewable energy at all its facilities and introduced electroporation systems in the pools which has reduced chemical use by 58 per cent.
Go fit has been used in recent research to study how being active at a leisure centre can reduce the negative impacts associated with physical inactivity. The study estimated that Go Fit services could have averted a total of 1,165.74 disability-adjusted life years from type 2 diabetes, colorectal cancer, breast cancer, stroke and coronary heart disease.
Go Fit Steven Ward
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