Slide 1: Basic-Fit Full Year 2023 Results
BASIC-FIT FULL YEAR 2023 RESULTS SPEAKERS: RENÉ MOOS, CEO & HANS VAN DER AAR, CFO 14 MARCH 2024
Slide 2: Highlights 2023
HIGHLIGHTS 2023 STRONG GROWTH OF CLUBS, MEMBERSHIPS, REVENUE AND EBITDA Clubs Memberships Revenue Underlying EBITDA less rent 1,402 €3.80 million €1,047 million €261 million Up 17% year-on-year Up 13% year-on-year Up 32% year-on-year Up 28% year-on-year 2
Slide 3: Record club growth: 202 net openings in 2023
RECORD CLUB GROWTH: 202 NET OPENINGS IN 2023 237 (+6) Netherlands 12 (+9) Germany 223 (+4) Belgium 1,402 clubs compared to 1,200 at the end of 2022 (+17%) 10 (-) Luxembourg Market leadership substantially extended in: 781 (+134) France o France: 134 net club growth (+21%) o Spain: 49 net club growth
Slide 4: RSG Spain transaction
RSG SPAIN TRANSACTION LIFTING SPANISH NETWORK TO CA. 200 CLUBS 47 clubs o.w. 42 McFIT and 5 Holmes Place locations Closing RSG Spain transaction expected in next couple of weeks Strong presence in Barcelona region Rebranding to Basic-Fit brand starts right after closing 2030 potential of 450 to 700
Slide 5: 13% YoY membership growth to 3.8 million
13% YOY MEMBERSHIP GROWTH TO 3.8 MILLION Millions Memberships 2016 - 2023 4.0 Growth was recorded in all countries: 3.0 o Strong performances in Benelux & Spain o France held back a bit by social unrest and consumer environment 2.0 882 mature clubs have on average 3,283 memberships 1.0 New membershi
Slide 6: Club openings pipeline
CLUB OPENINGS PIPELINE Further strong growth of our club network in 2024 to 1,575 clubs Cash flow and macro developments included in club roll-out plans for 2024 RSG Spain clubs, following rebranding, will be treated as newly opened clubs CLUB OPENINGS PIPELINE (# CLUBS) > 400 400 200 114 122 57 51
Slide 7: We deliver strong growth
WE DELIVER STRONG GROWTH ALL KPI’S HAVE STRONG CAGR BETWEEN 2016-2023 yield (euros) # of clubs # of memberships (millions) 25 22.86 23.53 1,402 3.80 1,500 1,200 4.0 20.56 3.35 19.46 19.41 19.39 1,015 20 905 1,000 784 3.0 COVID 629 2.22 2.22 521 1.84 2.00 13.77 419 15 500 2.0 1.52 1.21 - 1.0 10 2016
Slide 8: Exploring franchise opportunities
EXPLORING FRANCHISE OPPORTUNITIES MAXIMISING FUTURE GROWTH & RETURNS IN A FRANCHISE MODEL, POSSIBLE POTENTIAL WE CAN LEVERAGE OUTCOMES BENEFITS Faster growth Our own technology and Start franchise opportunities automation capabilities on our own Operate in more Our site selection and Buying an estab
Slide 9: Financial Review
FINANCIAL REVIEW
Slide 10: Income statement
INCOME STATEMENT UNDERLYING EBITDA LESS RENT UP 28% TO €261 MILLION K ey fig ures (in € millions) 2023 2022 Chang e Und erlying net result (in € millions) 2023 2022 Tot al revenue 1,0 47 .2 7 9 4.6 32% Net result (2 .7 ) (3 .7 ) of which club revenue 1,039.5 788.7 32% of which non-club revenue 7.8 5
Slide 11: Mature club development
MATURE CLUB DEVELOPMENT 882 mature clubs; 398 in Benelux, 443 in FR, 41 in SP Average members per club 3,283 Mature club underlying EBITDA less rent €390 thousand; 42% margin ROIC: 35% 78% of group revenue and 86% of underlying club EBITDA less rent Embedded underlying club EBITDA less rent potentia
Slide 12: Capex and FCF before new clubs
CAPEX AND FCF BEFORE NEW CLUBS Expansion capex €1.18 million (2022: €1.17 million) spent on average per newly built club FY 2024 new club average capex around €1.25 million Maintenance capex €55 thousand per club (2022: €55 thousand) Through 2030 around €55 thousand per club per year Other capex €12
Slide 13: Solid financing structure
SOLID FINANCING STRUCTURE NO SIGNIFICANT DEBT REPAYMENTS NEXT THREE YEARS Maturity of debt facilities 750 Syndicated facilities: €760** million due June 2027 + options to extend by two years to June 2029 Extension €40*** million uncommitted revolving 500 option facility accordion Convertible bond lo
Slide 14: Outlook 2024
OUTLOOK 2024 FURTHER SUBSTANTIAL GROWTH IN REVENUE AND UNDERLYING EBITDA LESS RENT Further strong growth Revenue between Mature club ROIC of Further gradual of our network and €1.20 - €1.25 billion well over 30% increase membership base in yield to at least €24.50 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 Term Definition Club EBITDA EBITDA before overhead costs and net result from non-club revenue (webshop and NXT Level) Club EBITDA margin Club EBITDA as a percentage of club revenue Underlying club EBITDA less rent Club EBITDA adjusted for exceptional items and minus
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