Viva Leisure (VVA) H1 2026 earnings summary

Executive summary

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

• Statutory NPAT increased 168% to AUD 5.2 million; underlying NPAT up 46.8% to AUD 8.1 million.

• Membership grew to 656,043, with over 13,000 net new members since period end and total locations rising to 685.

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

• Strategic shift from physical rollouts to network optimization, technology, and profit conversion, supporting strong organic growth and profitability.

Financial highlights

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

• Statutory EPS rose 173.8% to AUD 0.0532; underlying EPS up over 50% to AUD 0.0826.

• Adjusted free cash flow up 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 revenue guidance 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 in FY27, with 30%-40% net margin.

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

• Continued focus on network optimization, technology rollout, and franchise expansion, including international growth in Singapore and the UK.

• Ongoing share buyback of up to 10% of issued shares to recommence.