Basic-fit Nv · EURONEXT:BFIT
Basic-fit Nv — Basic-Fit N V Ord — H1 2024 Earnings Presentation
18 slides from Basic-fit Nv's earnings presentation, Jul 26, 2024
Slide 1: Basic-Fit Half Year Results 2024
BASIC-FIT HALF YEAR RESULTS 2024 SPEAKERS: RENÉ MOOS, CEO HANS VAN DER AAR, CFO 26 JULY 2024
Slide 2: Highlights H1 2024
HIGHLIGHTS H1 2024 STRONG GROWTH OF CLUBS, MEMBERSHIPS, REVENUE AND EBITDA Clubs Memberships Revenue Underlying EBITDA less rent 1,537 4.1 million €584 million €139 million Up 18% year-on-year Up 13% year-on-year Up 17% year-on-year Up 26% year-on-year 2
Slide 3: Record 135 net club growth in H1 2024
RECORD 135 NET CLUB GROWTH IN H1 2024 241 (+4) Netherlands 24 (+12) Germany 1,537 clubs compared to 1,402 at the end of 2023 227 (+4) Belgium o 234 club growth past 12 months (+18%) 10 (-) Luxembourg Market leadership substantially extended in: o France: 53 net club growth in H1 2024 and +116 clubs
Slide 4: RSG Spain integration
RSG SPAIN INTEGRATION ON SCHEDULE TO CONVERT ALL 42 CLUBS BY SEPTEMBER 2024 Status on 26 July 2024: o 19 converted clubs o 4 conversions in progress o 19 conversions to go Regional conversion approach o Barcelona and Madrid clusters first In most cases members can workout at nearby clubs during conv
Slide 5: 5
5
Slide 6: 4.1 million memberships
4.1 MILLION MEMBERSHIPS 13% YOY MEMBERSHIP GROWTH Memberships 2016 – H1 2024 Millions 4.0 Growth was recorded in all countries: o Strong performances in Benelux & Spain 3.0 o Q2 2024 up 37 thousand vs. 8 thousand in Q2 2023 2.0 993 mature clubs have on average 3,175 memberships 1.0 Premium penetrati
Slide 7: Club openings pipeline
CLUB OPENINGS PIPELINE Further strong growth of our club network in 2024 to around 1,575 clubs 30 clubs to open to reach target for 2024 Average cost of a newly built club: around €1.25 million CLUB OPENINGS PIPELINE (# CLUBS) > 400 400 200 143 44 111 104 0 Net openings Under Contracts Contracts bei
Slide 8: Financial review
FINANCIAL REVIEW
Slide 9: Income statement
INCOME STATEMENT UNDERLYING EBITDA LESS RENT UP 26% TO €139 MILLION Revenue s p lit U nder lying EBITD A les s r ent H1 2 0 2 4 H1 2 0 2 3 H1 2 0 2 4 H1 2 0 2 3 chang e chang e In € millions unaudited unaudited In € millions unaudited unaudited Club revenue 579.5 496.5 17% Club EB I TD A 3 40 .7 2 8
Slide 10: Income statement (continued)
INCOME STATEMENT (CONTINUED) UNDERLYING NET PROFIT UP 126% TO €13 MILLION Key figur es U nder lying net r es ult H1 2 0 2 4 H1 2 0 2 3 chang e H1 2 0 2 4 H1 2 0 2 3 chang e In € millions unaudited unaudited In € millions Tot al revenue 5 8 4.8 5 0 0 .4 17 % Net result 4.2 (6 .1) EB I TD A 2 6 6 .2 2
Slide 11: Mature club development
MATURE CLUB DEVELOPMENT 993 mature clubs; 418 in Benelux, 522 in FR, 53 in SP Average members per club 3,175 Total mature club underlying EBITDA less rent increased 16% to €188 million (H1 2023: €162 million) Average mature club underlying EBITDA less rent of €189 thousand (H1 2023: €182 thousand);
Slide 12: Capex development
CAPEX DEVELOPMENT Expansion capex* €1.25 million (H1 2023: €1.21 million) spent on average per newly built club FY 2024 new club average capex around €1.25 million (2023: €1.18 million) Maintenance capex €15 thousand per club (H1 2023: €19 thousand) FY 2024 around €55 thousand per club expected Thro
Slide 13: Solid financing structure
SOLID FINANCING STRUCTURE SYNDICATED FACILITIES EXTENDED BY ONE YEAR TO JUNE 2028 € millions Maturity of debt facilities 800 Syndicated facilities: €780 million due June 2028 600 + option to extend to June 2029 Convertible bond loan €303.7 million; 400 Maturity June 2028, conversion price €50.63/sha
Slide 14: Outlook 2024
OUTLOOK 2024 FURTHER SUBSTANTIAL GROWTH IN REVENUE AND UNDERLYING EBITDA LESS RENT Further strong growth Revenue between Underlying EBITDA Free cash flow before of our membership €1.20 - €1.25 billion less rent between new club expansion base €305 - €330 million per share between €2.60 - €2.95 14
Slide 15: Questions?
QUESTIONS? BASIC-FIT
Slide 16: Thank you for your attention
THANK YOU FOR YOUR Aan ENON BASIC-FIT
Slide 17: Alternative performance measures
ALTERNATIVE PERFORMANCE MEASURES Te rm De fin itio n Fitness revenue Revenue from memberships, as well as from add-ons like sports water and personal online coach Club revenue Total of fitness revenue and other club revenue Yield (ARPU) per month Fitness revenue divided by average members of the per
Slide 18: Disclaimer
DISCLAIMER This presentation contains certain forward-looking statements with respect to the financial condition, results of operations and business of Basic Fit N.V. and its subsidiaries (referred to as 'the company') and certain of the plans and objectives of the company with respect to these item