Benefit Systems: corporate bonds on Catalyst
Benefit Systems has 1 bond series listed on Catalyst with an issue value of PLN 1,000m. Next maturity: BFT0330, PLN 1,000m, 11 March 2030. Net debt / EBITDA: 0.64× (2025 annual report).
Key figures
2025 annual report (document.benefitsystems.pl) · as at 11 Nov 2026Data on series and maturity dates come from GPW Catalyst; sources of the other figures are given in the tabs. This page describes the company’s data and is not an investment recommendation.
Benefit Systems S.A., based in Warsaw and listed on the Warsaw Stock Exchange, sells MultiSport cards and MyBenefit services to employers and runs its own fitness clubs in Poland, the Czech Republic, Bulgaria, Slovakia, Croatia and Turkey.
Financial results
PLN million, consolidated figures; figures from the company’s reports. A dash (–) means the figure is not in our database.
| Item | 2023 | 2024 | 2025 | 6M 2026 |
|---|---|---|---|---|
| Revenue | 2,774.1 | 3,397.3 | 4,522.7 | 2,843.6 |
| Operating profit (EBIT) | 540.1p | 628.3 | 709.8 | 497.9 |
| Net profit | 439.6p | 449.6p | 570.9p | 451.8 |
| Total assets | 2,800.4p | 3,419.9 | 7,052.0 | 7,793.4 |
| Equity | 998.3p | 1,160.0 | 2,363.3 | 2,554.8 |
| Total liabilities | 1,802.1p | 2,260.0 | 4,688.7 | 5,238.6 |
| Cash and cash equivalents | – | 309.5 | 597.9 | 709.7 |
| Net debt | −373.5p | −152.7 | 795.0 | – |
p Figure taken from the comparative column of a later company document (2023: annual report for 2024; 2023 and 2024 and 2025: company data (document.benefitsystems.pl)). The company may have restated the earlier period, for example after a change in accounting policies.
Sources: company data (corp.benefitsystems.pl), half-year report for H1 2026, annual report for 2024, annual report for 2025, company data (document.benefitsystems.pl), half-year report for H1 2026 and 1 more.
Debt and repayment capacity
Ratios based on annual reports (consolidated), using only figures verified against the company’s filings. A dash (–) means the figure is not available; a negative interest cover means an operating loss.
| Ratio | 2023 | 2024 | 2025 |
|---|---|---|---|
| Net debt / EBITDA (years of operating profit before depreciation needed to cover the debt) | – | −0.16× | 0.64× |
| Net debt / equity (net debt relative to shareholders’ equity) | −0.37× | −0.13× | 0.34× |
| Equity / total assets (share of assets financed by equity) | 35.7% | 33.9% | 33.5% |
| Operating cash flow − capital expenditure (PLN million, cash from operations after investment) | – | 706.0 | 585.4 |
Sources: 2023 annual report, 2023 annual report (2), 2024 annual report, 2024 annual report (2) and 1 more.
Bonds on Catalyst
| Series | Maturity | Interest rate | Rate type | Margin | Security | Yield to maturity |
|---|---|---|---|---|---|---|
| BFT0330 | 11 Mar 2030 | 5.76% | Floating (6M WIBOR) | +1.90 pp | Unsecured | 5.02% |
Series codes link to the series pages in Polish. Yield to maturity is calculated by the Polish brokerage DM BDM, before tax and commissions; for floating-rate bonds it assumes the reference rate (WIBOR or EURIBOR) stays at its current level. “No quote” means no recent price.
Questions about Benefit Systems bonds
How many Benefit Systems bond series are listed on Catalyst?
Benefit Systems has one bond series listed on Catalyst, with a nominal value of PLN 1,000 million. It matures on 11 March 2030.
When does the next Benefit Systems bond mature?
The next maturity is series BFT0330 on 11 March 2030 (nominal value PLN 1,000 million). An early redemption at the issuer’s request can change these dates.
How is the interest on Benefit Systems bonds set?
The series pays a floating rate: 6M WIBOR plus a margin of 1.90 percentage points. The coupon changes with the reference rate in each interest period, while the margin stays the same until maturity.
Are Benefit Systems bonds secured?
The series is unsecured: bondholders have no priority claim on any specific asset of the company.
Source: our database of Catalyst series, terms and conditions of the bonds and company announcements.
Our full analysis, financial results and news on Benefit Systems are on the Polish-language issuer page.
This material is for information purposes only and does not constitute investment advice.