Slide 1: HY 2021 results: speakers and date
SPEAKERS: René Moos, CEO & Hans van der Aar, CFO DATE: 23 July 2021
Slide 2: Highlights
HIGHLIGHTS Performance largely defined by COVID-19 related government measures Clubs Members Revenue Available liquidity 973 2.01 million €53 million €497 million Up 17% Down 8% Down 71% year on year year on year year on year 2
Slide 3: Clubs were closed for 81% of the time in HY 2021
CLUBS WERE CLOSED FOR 81% OF THE TIME IN HY 2021 Clubs in NL were open for 6 weeks and in BE/FR for 3 weeks Clubs in the Netherlands reopened on 19 May; restrictions have since been eased allowing members to workout at their time of choice Belgian and French clubs reopened on 9 June with limited res
Slide 4: Record membership growth in June 2021
RECORD MEMBERSHIP GROWTH IN JUNE 2021 Record number of joiners and low churn rates after reopening Monthly joiners Basic-Fit clubs 2021 vs. 2020/2019 Limited number of joiners with only clubs in 3 Spain and Luxembourg open (1) Start of a strong recovery with our clubs in the Netherlands reopening on
Slide 5: 68 net club openings
NETHERLANDS 216 68 NET CLUB OPENINGS BELGIUM 205 LUXEMBOURG 10 973 clubs compared to 905 at the end of 2020 and 831 in H1 2020 (+17%) • France +45 clubs (+99 yoy) FRANCE 492 • Belgium +12 clubs (+17 yoy) • Netherlands +5 clubs (+14 yoy) • Spain +6 clubs (+12 yoy) We expect to end 2021 with around 1,
Slide 6: Ready for accelerated growth
READY FOR ACCELERATED GROWTH Ample liquidity to finance club roll-out plans Remain focused on organic growth, but we will look opportunistically at acquisition opportunities Net new club openings of around 105 to 1,010 in 2021 Acceleration of club rollout in 2022, reaching 1,250 clubs by the end of
Slide 7: Financial review
FINANCIAL REVIEW
Slide 8: Revenue
REVENUE More than €200 million revenue loss due to club closures In € millions All memberships in the Netherlands, Belgium and France were on freeze during closure €216 million revenue loss in H1 2021 due to membership freeze and compensation * H1 2020 using average 2.25 million members, H1 2021 usi
Slide 9: Income statement
INCOME STATEMENT Club closures determining factor in H1 2021 H1 2021 H1 2020 Key figures (in € millions) unaudited unaudited Revenue impacted by clubs being closed for 81% of the time in Total revenue 53.0 182.5 H1 2021 vs. 49% in H1 2020 Club revenue 52.1 181.7 Non-club revenue 0.8 0.8 Club operati
Slide 10: Income statement: underlying EBITDA and net result
INCOME STATEMENT Underlying (club) EBITDA and net result Underlying key figures (in € millions) H1 2021 H1 2020 unaudited unaudited Club EBITDA (0.4) 96.5 Rent costs (opened clubs) (63.0) (54.3) Invoiced rent costs increased in line with growth Exceptional items - clubs 72.1 49.4 Underlying club EBI
Slide 11: Mature club development
MATURE CLUB DEVELOPMENT 617 mature clubs compared to 510 at the end of 2020, with 336 (+15) in Benelux and 281 (+92) in France and Spain Mature clubs now account for 63% of total clubs at the end of June 2021 Average number of members per mature club was 2,540 at the end of June 2021 (2020: 2,695) I
Slide 12: Capital expenditure
CAPITAL EXPENDITURE Expansion capex €1.17 million (H1 2020: €1.23 million) spent on average per newly built club Maintenance capex €14 thousand per club (H1 2020: €22 thousand) Further roll out of smart camera system End of 2021 entire Benelux should be connected Other capex €4.1 million (H1 2020: €
Slide 13: Balance sheet
BALANCE SHEET Net debt* of €420 million (FY 2020: €539 million) Available liquidity of €497 million (FY 2020: €90 million) • Cash at hand €207 million (FY 2020: €70 million) • Undrawn facilities €290 million (FY 2020: €20 million) €150 million bridge facility repaid and cancelled Waiver Jun-2021 and
Slide 14: Outlook
OUTLOOK Net new club openings of around 105 in 2021 Ample liquidity available Acceleration of club rollout in 2022, reaching close to 1,250 clubs by the end of 2022 We will continue to be flexible and adjust the timing or pace of club openings if government measures adversely affect market condition
Slide 15: 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
Slide 16: Thank you for your attention