Basic-fit Nv · EURONEXT:BFIT
Basic-fit Nv — Basic-Fit N V Ord — FY2024 Earnings Presentation
19 slides from Basic-fit Nv's earnings presentation, Mar 12, 2025
Slide 1: Basic-Fit Full Year 2024
BASIC-FIT FULL YEAR 2024 SPEAKERS: RENÉ MOOS, CEO & MAURICE DE KLEER, CFO 12 MARCH 2025
Slide 2: Strong growth of clubs, memberships, revenue and EBITDA
STRONG GROWTH OF CLUBS, MEMBERSHIPS, REVENUE AND EBITDA Clubs Memberships Revenue Underlying EBITDA less rent 1,575 €4.25 million €1,215 million €313 million Up 12% year-on-year Up 12% year-on-year Up 16% year-on-year Up 20% year-on-year 2
Slide 3: 1,575 clubs compared to 1,402 at the end of 2023
241 (+4) Netherlands 28 (+16) Germany 1,575 clubs compared to 1,402 at the end of 2023 (+12%) 229 (+6) Belgium Market leadership extended in France: net club growth 10 (-) Luxembourg of 77 (+10%) 858 (+77) France Accelerated growth in Spain: net club growth of 70 (+50%) including 42 acquired clubs 2
Slide 4: 12% YoY membership growth
12% YOY MEMBERSHIP GROWTH Millions Memberships 2016 - 2024 5.0 Growth was recorded in all countries: 4.0 o Strong performance in France and Spain 3.0 Strong ingrowth of immature clubs, partly driven by successful founding member campaigns 2.0 Strong start of 2025 with memberships increasing by 202 t
Slide 5: Revenue per club development per cohort
Revenue per club development per cohort* The pre-COVID-19 clubs (< 2022; 590 clubs) showed the typical strong ingrowth missed out on the accelerated ingrowth in the first couple of years continue to grow towards normal maturity levels albeit at a slow pace * Pre COVID cohort is adjusted for the COVI
Slide 6: Post-COVID-19 clubs show cash flow break even after 6 months
show weak revenue ingrowth due to pandemic Post-COVID-19 clubs (2023, 2024; 394 clubs) clubs developed in line with expectations and were cash flow break even after 6 months Cumulative average revenue post-COVID-19 clubs over first 6 months equal to that of pre-COVID-19 clubs 6
Slide 7: Successful pilot with staffed 24/7 clubs in France
SUCCESSFUL PILOT WITH STAFFED 24/7 CLUBS IN FRANCE 75% of the clubs in Benelux are open 24/7 unstaffed Regulations do not yet allow unstaffed clubs in France Successful pilot with 70 24/7 staffed clubs in France in H2 2024 333 24/7 staffed clubs in France as of January 2025 Extended opening hours in
Slide 8: Capital efficient strategy
Capital efficient strategy enables Basic-Fit to o Initiate a €40 million share repurchase programme in 2025 o Reach the below 2X adjusted EBITDA leverage target in 2026 With approximately 100 club openings a year in 2025 and 2026 we remain the fastest growing club operator in Europe Unchanged potent
Slide 9: All KPIs have double digit CAGRs between 2016-2024
ALL KPI’S HAVE DOUBLE DIGIT CAGRs BETWEEN 2016-2024 # of clubs # of memberships (‘000s) 1,575 5,000 1,402 4,254 1,500 3,802 1,200 4,000 1,015 3,352 905 1,000 784 3,000 629 2,221 2,001 2,220 521 1,843 419 2,000 1,524 500 1,211 1,000 - 2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2
Slide 10: Financial
FINANCIAL
Slide 11: Underlying EBITDA less rent up 20% to €313 million
UNDERLYING EBITDA LESS RENT UP 20% TO €313 MILLION Key figures (in € millions) FY 2024 FY 2023 Change Underlying net result (in € millions) FY 2024 FY 2023 Total revenue 1,215.2 1,047.2 16% Net result 8.0 (2.7) of which club revenue 1,204.2 1,039.5 16% IFRS 16 adjustments 14.1 14.8 of which non-club
Slide 12: Mature club development
MATURE CLUB DEVELOPMENT 990 mature clubs; 416 in Benelux, 522 in FR, 52 in SP Average members per club 3,139 (2023: 3,283) Mature club underlying EBITDA less rent €399 thousand; 43% margin (2023: €390 thousand; 42% margin) ROIC: 34% 12
Slide 13: Capex and free cash flow
Expansion capex €1.30 million (2023: €1.18 million) spent on average per newly built club Maintenance capex €58 thousand per club (2023: €55 thousand) Further targeted investments in member experience optimisation Other capex €19.3 million (2023: €12.8 million) Investments in energy transition FCF b
Slide 14: Maturity of debt facilities
€ millions Maturity of debt facilities 800 Syndicated facilities: €780 million due June 2028 + option to extend to June 2029 600 Convertible bond €303.7 million; maturity June 2028, 400 conversion price €50.63/share Net debt/adj. EBITDA ratio of 2.6 (Jun 2024: 2.8) 200 Target net debt/adj. EBITDA ra
Slide 15: Continued strong growth in revenue and underlying EBITDA less rent
CONTINUED STRONG GROWTH IN REVENUE AND UNDERLYING EBITDA LESS RENT Continued robust Revenue between Underlying EBITDA Overhead incl. growth of our network €1.375 - €1.425 billion less rent marketing as a and membership base €330 - €370 million percentage of revenue to come down to 11.5% - 12.0% 15
Slide 16: Questions?
QUESTIONS? BASIC-FIT
Slide 17: Thank you for your attention
THANK YOU FOR YOUR ATE EINTIOIN BASIC-FIT
Slide 18: Term definitions
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 invoiced rent costs of opened clu
Slide 19: Forward-looking statements 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 items. The word