Viva Leisure Secures 25% Stake in World Gym Australia, Acquires Three Queensland Sites; Shares Up 8%

MT Newswires Live

Dec 10, 2024

Viva Leisure (ASX:VVA) acquired a 25% equity stake in World Gym Australia and acquired three of its Queensland locations in exchange for AU$16.7 million, according to a Tuesday filing with the Australian bourse.

The acquisition is set to be completed in the fiscal third quarter ending March 2025 and is funded through existing cash reserves, banking facilities, and up to AU$1 million of company scrip, the filing said.

The company expects revenue of AU$56 million in the fiscal fourth quarter ending June 2025, with an annualized forecast of AU$224 million.

It also anticipates normalized earnings before interest, taxes, depreciation, and amortization of AU$12.5 million in fiscal Q4, and an annualized forecast of AU$50 million, according to the filing.

Company shares rose more than 8% in recent trade.

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