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Whitbread PLC David Lloyd Leisure, Europe. Acquisition of Cannons Health and Fitness BV December 2003. enjoy!Whitbread. On December 31 st 2003 David Lloyd Leisure completed the acquisition of Cannons Health and Fitness BV. enjoy!Whitbread. - PowerPoint PPT Presentation
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Whitbread PLCDavid Lloyd Leisure, Europe
Acquisition of Acquisition of Cannons Health and Fitness BV Cannons Health and Fitness BV
December 2003December 2003
enjoy!Whitbread
enjoy!Whitbread
On December 31On December 31stst 2003 2003
David Lloyd Leisure completed the David Lloyd Leisure completed the acquisition of Cannons Health and acquisition of Cannons Health and
Fitness BVFitness BV
enjoy!Whitbread
enjoy!Whitbread
The acquisition establishes The acquisition establishes
David Lloyd Leisure as a key player in the David Lloyd Leisure as a key player in the Netherlands racquets, health and Netherlands racquets, health and
fitness club marketfitness club market
enjoy!Whitbread
enjoy!Whitbread
Cannons BVFundamentals €€31m acquisition31m acquisition €€29.3m NBV29.3m NBV €€15m turnover (estimated) in 2003/415m turnover (estimated) in 2003/4 Five clubs in operationFive clubs in operation Two clubs in developmentTwo clubs in development 20,000 members20,000 members
enjoy!Whitbread
enjoy!Whitbread
Cannons BVRevenue mix €€650 revenue per member (mature 650 revenue per member (mature
clubs)clubs) Single rate subscription: €75/monthSingle rate subscription: €75/month Couples rate subscription: €115/monthCouples rate subscription: €115/month Joining fees: c. €30 per new member in Joining fees: c. €30 per new member in
20032003
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Cannons BVRevenue mix
0%10%20%30%40%50%60%70%80%90%100%
Cannons BV DLL UK
Ancillary
Subs
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Group impact
Existing clubs ROCE & EPS enhancing Existing clubs ROCE & EPS enhancing by 2005/6*by 2005/6*
Existing clubs ROCE >15% by 2005/6*Existing clubs ROCE >15% by 2005/6*
**plannedplanned
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Private fitness club market(Netherlands)
0
200
400
600
800
1000
1200
Euros (m)
2003
2010
Source: Deloitte & Touche/Whitbread
enjoy!Whitbread
The competition
Tennis, health & Tennis, health & fitnessfitness
Pelikaaan – 3 clubsPelikaaan – 3 clubs Jisselque – 2 clubsJisselque – 2 clubs
Health & fitnessHealth & fitness
Tai Jai – 15 clubsTai Jai – 15 clubs Fitness First – 11 Fitness First – 11
clubsclubs
enjoy!Whitbread
The clubs
Amsterdam
Dordrecht
Rotterdam
Utrecht
Eindhoven
Development club
Existing club
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Racquets, health & fitness clubs
VeldhovenVeldhoven UtrechtUtrecht
Indoor tennisIndoor tennis 99 1212
Outdoor tennisOutdoor tennis 55 00
SquashSquash 44 44
Indoor poolIndoor pool
StudiosStudios 22 22
GymGym
CrecheCreche
RestaurantRestaurant
ParkingParking
enjoy!Whitbread
Health & fitness clubsDordrechtDordrecht AkragonAkragon BlijdorpBlijdorp
Indoor poolIndoor pool
StudiosStudios 22 22 22
SpinningSpinning
GymGym
Sports hallSports hall
CrecheCreche
RestaurantRestaurant
ParkingParking
enjoy!Whitbread
Development clubs
Capelle ad Ijssel (Rotterdam)Capelle ad Ijssel (Rotterdam) Racquets, health & fitnessRacquets, health & fitness FreeholdFreehold Open 2004Open 2004
Overtoom (Amsterdam)Overtoom (Amsterdam) Health & fitnessHealth & fitness Long leaseLong lease Open 2004Open 2004
enjoy!Whitbread
Development clubs
CapelleCapelle OvertoomOvertoom
Indoor tennisIndoor tennis 1212 00
Indoor poolIndoor pool
StudiosStudios 22 22
SpinningSpinning
GymGym
Health & beautyHealth & beauty
CrecheCreche
RestaurantRestaurant
ParkingParking
enjoy!Whitbread
Club ownership models
ClubClub OwnershipOwnership
VeldhovenVeldhoven Long leaseLong lease
UtrechtUtrecht Long leaseLong lease
DordrechtDordrecht Long leaseLong lease
AkragonAkragon Long leaseLong lease
BlijdorpBlijdorp Long leaseLong lease
CapelleCapelle FreeholdFreehold
OvertoomOvertoom Long leaseLong lease