Share Name Share Symbol Market Type Share ISIN Share Description
The Gym Group Plc LSE:GYM London Ordinary Share GB00BZBX0P70 ORD 0.01P
  Price Change % Change Share Price Shares Traded Last Trade
  -5.20 -3.97% 125.80 57,264 11:20:53
Bid Price Offer Price High Price Low Price Open Price
125.40 126.60 134.00 125.80 134.00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Travel & Leisure 153.13 6.22 2.60 48.4 209
Last Trade Time Trade Type Trade Size Trade Price Currency
11:20:53 AT 535 125.80 GBX

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Date Time Title Posts
24/9/202010:14GYM Group - get your daily workout and pump up624
01/12/200010:18Gympie Gold lunch2
01/11/200008:51Gympie grows on gold and coal1
01/11/200008:41Gympie grows on gold and coal1

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The Gym Daily Update: The Gym Group Plc is listed in the Travel & Leisure sector of the London Stock Exchange with ticker GYM. The last closing price for The Gym was 131p.
The Gym Group Plc has a 4 week average price of 117p and a 12 week average price of 117p.
The 1 year high share price is 325p while the 1 year low share price is currently 75p.
There are currently 165,897,312 shares in issue and the average daily traded volume is 644,849 shares. The market capitalisation of The Gym Group Plc is £208,698,818.50.
masurenguy: The Gym Group The leisure sector has been one of the worst hit, so it is no surprise that shares in the Gym Group fell by 51.5% in the 4 months to the end of April. UK gyms are closed and the company froze memberships on closure, so it is receiving no income. The broker argues the gloom in the share price has been overdone. Complete article:
quepassa: The share price was nicely marched up the hill to get to the 161p new equity issue price. But it seems to me that the challenges facing the sector are nowhere near over yet. Given the enormous and rising unemployment levels, the question is how rapidly members come back on stream when things ease. The rate of re-joining by members may take a lot longer than hoped for. ALL IMO. DYOR. QP
masurenguy: 17 April 2020 The Gym Group PLC Results of the Placing The Gym Group plc, the nationwide operator of 179 low cost 24/7, no contract gyms, announces the successful completion of the placing announced yesterday. A total of 27,396,606 new ordinary shares of 0.01p each in the capital of the Company have been placed by Numis Securities and Peel Hunt, at a price of 150p per Placing Share (the "Placing Price"). Together, the Placing and Subscription of 27,512,181 new Ordinary Shares raised gross proceeds of approximately £41.3m. The Placing Price represents a discount of 6.8% to the closing share price of 161p on 16 April 2020. The Placing Shares and Subscription Shares (defined below) being issued represent together approximately 19.9% of the existing issued ordinary share capital of the Company prior to the Placing and Subscription. Overview (16 April) -- The net proceeds of the Placing and Subscription will be used to strengthen TGG's balance sheet and provide liquidity whilst TGG's gyms are closed during this period of unprecedented COVID-19 disruption -- The Board believes that a strengthened balance sheet will enable the Company to take advantage of growth opportunities in the immediate aftermath of the COVID-19 crisis both in terms of membership acquisition and by restarting its site roll out programme -- Credit approval has been received for an amendment to the Company's existing £70m committed bank facility, maturing October 2023, with its existing lenders HSBC, Natwest and Banco de Sabadell to provide commitments for an incremental £30m for an 18 month period (the "New Debt Facility"). The amendment which remains subject to final documentation, provides for a revised financial covenant testing regime and is subject to completion of the Placing -- The Board is confident that the additional financing from the Placing and Subscription and New Debt Facility, alongside a broad range of cost saving actions, will ensure sufficient liquidity even in the event of its most pessimistic trading scenario -- Directors and certain members of the Executive Management team intend to subscribe for Subscription Shares to contribute approximately £175k in aggregate. Rationale for the Placing The Company entered 2020 following a year of strong performance in 2019, and trading in January and February of 2020 was encouraging with the Group reaching record membership numbers of 891,000 at the end of February. However, in line with UK Government guidelines in response to COVID-19, on 20 March 2020 the Company temporarily closed all 179 of its sites. As announced on 19 March 2020, in anticipation of potential closures, management put in place a number of actions to reduce cash outgoings including halting the roll out of new sites and reducing both capital and operating expenditure to essential spend only. The Company also commenced discussions with its existing lenders HSBC, Natwest and Banco de Sabadell (the "Banks"). These discussions have progressed such that credit approval has been received for an amendment to its existing £70m committed bank facility, maturing October 2023, to provide additional commitments of £30m for an 18 month period. The amendment also provides for a revised financial covenant testing regime, taking into account the current period of closure of the Company's gyms and their reopening over the next six months, and remains subject to final documentation and completion of the Placing. During the period that the New Debt Facility can be accessed the payment of dividends requires the consent of the Banks. The Company has also continued to take further actions to conserve cash. This has involved ongoing discussions with the Company's landlord, supplier and employee stakeholders. In addition, the executive directors have taken a material temporary reduction in salaries and have deferred 50% of their 2019 bonus award. All non-executive Board members have agreed to forego their board fees for the second quarter of 2020. The Company is also participating in a number of the relevant UK Government COVID-19 support initiatives announced to date, including rates relief, the Coronavirus Job Retention Scheme for furloughed workers, and the deferral of some payments due to HMRC. As at 31 March 2020, the Company had cash on hand of £22.4m, having fully drawn its £70m existing bank facility. Management's immediate mitigation actions have in aggregate reduced the Company's monthly cash burn during the temporary closure period to £5m, excluding the unwind of working capital and other capital commitments over the next five months, which in total are approximately £12m. Given the uncertainty of the duration of the current disruption, the Board believes the Placing and Subscription to be a prudent measure to further strengthen the Company's balance sheet, working capital and liquidity position. The Board is confident that the steps being taken will ensure sufficient liquidity even in the event of its most pessimistic trading scenario which assumes a total closure of the estate for the remainder of 2020 and a significantly reduced membership upon reopening. The Board also believes that the strengthened balance sheet will provide the Company with the ability to take advantage of growth opportunities in the immediate aftermath of the COVID-19 crisis both in terms of membership acquisition and by restarting its site roll out programme.
thomshrike: 2 comments from me: - I expected a share price bounce, but probably some people are still expecting "peak negative news" which will be if and when their gyms are finally shut down. - a fellow investor asked the company what is the take-up rate of the fee freeze option. Apparently it is currently 2% of the members, which - good news - is much lower than what I would have anticipated at this point.
thomshrike: Just putting it into perspective: assume that (i) by reductio ad absurdum GYM LN makes 0 (zero) ebitda this year, instead of 62m consensus; (ii) things go back to normality after 12 months. That hypothetical loss of value of 62m compares with a 166m loss in market cap since the beginning of the downturn. Almost 3x as much. The share price is now below the IPO price, despite the company having grown >3x in size and profits. It's interesting that, in a market where most people claim to be value investors, momentum continues to be dominant.
earwacks: looking to buy back here. Obviously certain businesses are particularly vulnerable to Coronavirus. It will inevitably impact to some degree on GYM. Unfortunately the risk is not yet quantifiable. Not sure Barclays can do the math which probably explains their share price or is that to do with the not guilty verdict?
thomshrike: Looks very solid, broadly in-line with consensus estimates. ARPMM growth (+5.2% adjusted for PT) continues to be very positive, on the back of initiatives such as LiveIt. 2020 outlook also in-line. Encouraging January, which is always good because it is one of the most important months of the year. Positive tone overall. Importantly, this is the anniversary of a January 2019 trading update that led to such a big drawdown on the share price then. Good to see more stability here. Overall, I would expect the stock to continue to re-rate in coming months.
thomshrike: Hi QuePassa, the 2018 closing share price was 273.00. The stock is indeed flat Ytd. That said, I agree: the stock is showing a brave face now - including being resilient during the times of Brexit uncertainty and substantially outperforming BFIT NA in the last 6 months. Also note the recent SATS IPO in Norway, a conventional gym operator. Reading one of their IPO reports just highlights how so much more solid is GYM's business model compared to theirs. The risks that hurt the share earlier in the year never materialized. The only concrete negative was the concessions made to PT, but that is worth 3-4% on a DCF at most. Other than that, good news: acceleration of LFL, consistent margins, added market share gains, good outlook for growth. Berenberg recently added GYM to their list of stocks that could potentially being taken over on a post-Brexit environment.
thomshrike: What happened IMO: - in November, Pure Gym became a bit more promotional. Their past success with a similar initiative to GYM's LiveIt gave them slack to reinvest in price without hurting their yields. Usually January is promotional but November is not. - GYM followed suit in selected locations. Some of those prices have now returned to former levels, others haven't. - Some buy-side/sell-side analysts tracked this development. Hence the initial share price decline. Obviously the market correction also contributed. - BarCap finally wrote a note about it last week, asking whether this wouldn't be an indication of excess capacity in the industry and the stock tanked again. What was not mentioned: - The price of other GYM units increased in the same period. LiveIt is probably doing well. GYM has other levers to use: joining fee, etc. Hence, there is no guarantee that GYM's numbers will be downgraded. Even if you get a downgrade, this should be low single digit, whereas the stock already fell by c. 30%. - There is no evidence whatsoever of excess capacity in the industry and GYM continues to gain market share. Being larger means more economies of scale and better yields. The larger operators will continue to pull away from competition. As always, just my opinion. DYOR.
dtaliadoros: When I bought into this stock 2 years ago sub 1.80 All the brokers where saying gym share price was pricey. None of them saw how disruptive gym would be to fitness industry but I did. I would not have spotted this if I had not been a member and seen how hard they sweat their assets with gyms packed to the rafters. People love these gyms.
The Gym share price data is direct from the London Stock Exchange
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