Slide 1: Basic-Fit Results Half Year 2018
BAS I C- FI T RES ULT S 2 0 18 HAL F Y E A R SPEAKERS: Rene Moos, CEO & Hans van der Aar, CFO PLAATS HIER DE DATE: 2 August 2018
Slide 2: Highlights
HIGHLIGHTS Basic-Fits continues strong growth with solid margins Clubs Members Revenue Adjusted EBITDA 565 1.67 million €190 million €56.7 million Up 21% Up 23% Up 22% Up 24% year on year year on year year on year year on year 2
Slide 3: Robust execution of club openings plan
ROBUST EXECUTION OF CLUB OPENINGS PLAN 200th club opened in France 44 net new club openings; growing network to 565 clubs Back-end loaded with 32 clubs opened in Q2 40 clubs opened in France, 2 in Netherlands, 1 in Belgium and 1 in Luxembourg Quickly becoming the clear market leader in France 3
Slide 4: Solid membership development
SOLID MEMBERSHIP DEVELOPMENT 23% growth to 1.67 million memberships Memberships up 148 thousand in the period and up 308 thousand compared to H1 2017 Mature clubs have 3,285 members on average compared to 3,282 members at the start of the year Membership ramp up at French clubs continues to outpace
Slide 5: DUO membership introduced
DUO MEMBERSHIP INTRODUCED To support yield and length of stay With a DUO membership two people can workout together Working out together is more fun and motivates to come to the club regularly Successful pilot in France concluded – Now available throughout France and the Benelux – Spain to follow in
Slide 6: Financial review
FINANCIAL REVIEW PLAATS HIER EEN
Slide 7: Income statement
INCOME STATEMENT Strong club EBITDA margin of 43.2% Revenue increased by 22% to €189.6 million; other revenue up 48% to €4.9 million Club EBITDA increased by 21% to €82.0 million; margin stable at 43.2% (H1 2017: 43.3%) Adjusted EBITDA increased by 24% to €56.7 million; margin increased by 70 bps to
Slide 8: Geographic revenue and EBITDA split
GEOGRAPHIC REVENUE AND EBITDA SPLIT Benelux still most profitable segment with 77% of adjusted EBITDA contribution REVENUE: €190 million ADJUSTED EBITDA: €56.7 MILLION Luxembourg Spain 2% (3%) 6% (7%) France & Spain 23% (13%) Netherlands France 31% (35%) 29% (17%) Benelux 77% (87%) Belgium 32% (38%)
Slide 9: Mature club development
MATURE CLUB DEVELOPMENT Stable high margin of 49.5% 327 mature clubs; 280 in Benelux and 47 in France and Spain Revenue of €129 million Adjusted club EBITDA of € 63.7 million Mature club EBITDA margin of 49.5 % ROIC of 35% of clubs built in 2015 9
Slide 10: Cash flow & capital expenditure
CASH FLOW & CAPITAL EXPENDITURE Maintenance capex €19 thousand per club; continue to expect maintenance capex per club of around €55 thousand for the full year Expansion capex Includes €4.8 million investments in small * acquisitions, yet to open clubs and expansion of existing clubs €1.1 million sp
Slide 11: Working capital & net debt
WORKING CAPITAL & NET DEBT Sufficient headroom for growth Negative net working capital of €90.0 million • - 25% of revenue Net debt of €301 million • 2.7x adjusted EBITDA 11
Slide 12: Outlook 2018
OUTLOOK 2018 Expect to open at least 100 clubs Pipeline ramping up further More than 300 clubs in pipeline Vast majority is in France but increased opportunity to open clubs in Benelux as well Continue to strictly abide by >30% ROIC target Club openings pipeline (# clubs) 200 150 > 200 100 58 44 50
Slide 13: 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 14: Thank you for your attention
THAN K Y O U UR A T T EN T I O N FOR YO