Viva Leisure (VVA) H1 2026 earnings summary

Executive summary

• Revenue for the half-year ended 31 December 2025 reached AUD 116.5 million, up 17.6% year-over-year, marking the eighth consecutive half of organic revenue growth with no acquisitions.

• Statutory NPAT grew 168% to AUD 5.2 million; underlying NPAT up 46.8% to AUD 8.1 million compared to the prior corresponding period.

• Membership reached 656,043, with over 7,000 organic additions in the half and 13,000 net new members since 31 Dec 2025.

• TPLR (technology, payments, licensing, retail) revenue grew 45% year-over-year to AUD 9.3 million, now 8.1% of group revenue.

• Strategic focus shifted from physical rollouts to network optimization, technology, and profit conversion, with recommencement of on-market share buyback up to 10% of issued shares.

Financial highlights

• Underlying EBITDA up 20.8% to AUD 25.4 million; EBITDA margin expanded to 21.8% from 21.2% year-over-year.

• Statutory NPAT of AUD 5.2 million, up 168%; statutory EPS up 173.8% to AUD 0.0532.

• Adjusted free cash flow increased 25% to AUD 19.9 million; operating cash flows up 34% to AUD 42.2 million.

• Senior debt reduced by AUD 2.6 million; net leverage at 1.7x.

• Cash at bank at period end was AUD 18.2 million, up from AUD 12.9 million at 30 June 2025.

Outlook and guidance

• FY26 guidance: revenue above AUD 237 million, statutory NPAT above AUD 11.5 million, underlying NPAT above AUD 16 million (20% above consensus).

• TPLR revenue targeted to exceed AUD 28 million by FY27, with continued 40%+ annual growth.

• Approximately 50 new franchise territories are committed for development over the next 12–18 months.

• Ongoing focus on network optimization, franchise expansion, and technology-driven growth.

• Revised debt covenants provide flexibility for accelerated greenfield rollout.