World Class Romania records higher turnover, higher losses

World Class Romania, which operates the largest local network of fitness centers, posted a turnover of EUR 11.4 million last year, up 20% over 2014. The company almost doubled the number of its employees, from 150 to 256, according to data from the Finance Ministry. Despite the revenue increase, the firm’s losses also went up from EUR 670,000 in 2014 to EUR 2.5 million last year. Starting 2012 the company’s profit began to decrease, while the turnover kept going up. This may be due to the network’s aggressive expansion strategy. World Class has acquired several competitors in recent years and continued to open new centers, which required significant investments. At the beginning of July, World Class Romania announced that it would open a new fitness center in the Park Lake shopping center, which will be inaugurated at the beginning of September. It will be the company’s 31st sports club and will require an investment of EUR 1 million. editor@romania-insider.com