What is the impact of the COVID-19 pandemic on financial performance of fitness centers?

Vieira, Elsa; São João, Ricardo

http://hdl.handle.net/10400.15/4266

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Authors

Vieira, Elsa

São João, Ricardo

Abstract(s)

Purpose: This study aims to understand the impact of the Covid-19 pandemic on the financial performance of fitness centers in Portugal, for this purpose, financial indicators are compared before and during the pandemic period. With this study we intend to understand if all or just some financial indicators had a negative impact with the pandemic. It is also the purpose of this paper to understand whether the financial performance of fitness centers depended on their size, number of employees and sales volume. Design/methodology/approach: The sample was obtained from the Sabi database. The elements for Portugal were: the Economic Activity Code 93130 – Gym activities (fitness) and the entities that had information for the years 2019, 2020 and 2021 on: sales, EBITDA, EBIT, net income, solvency, borrowing, liquidity and number of employees. The sample is 689 entities. Results and conclusions: The results obtained showed statistically significant influences on variables such as: dimension and sales volume. There is statistical evidence that financial indicators obtained worse results in the years of the pandemic (2020 and 2021) essentially due to the period in which it was not possible to develop the activity in person.

Keywords

Financial Performance Covid-19 Fitness Center

URI

http://hdl.handle.net/10400.15/4266

Citation

Vieira, E. & São João, R. (2023). What is the impact of the COVID-19 pandemic on financial performance of fitness centers? In 42nd EBES Conference (pp. 111). Istanbul, Türkiye: EBES. ISBN 978-605-71739-2-8