Basic-fit Nv · EURONEXT:BFIT
Basic-fit Nv — H1 2016 Earnings Presentation
16 slides from Basic-fit Nv's earnings presentation, Aug 25, 2016
Slide 1: H1 2016 Results Presentation
STRICTLY CONFIDENTIAL, NOT FOR DISTRIBUTION H1 2016 RESULTS PRESENTATION 25 AUGUST 2016
Slide 2: Basic-Fit at a Glance
BASIC-FIT AT A GLANCE WE ARE THE LARGEST CHAIN OF “VALUE-FOR-MONEY” FITNESS CLUBS IN EUROPE BASIC-FIT’S CLUB NETWORK AS OF 30 JUNE 2016 CLUBS REVENUE As of 30 June ‘16 LTM June ’16 Luxembourg Spain Luxembourg Spain 3% 8% 2% France 7% 6% 140 France 12% Belgium 148 Belgium 42% 40% 8 Netherlands Nether
Slide 3: H1 2016 Highlights
H1 2016 HIGHLIGHTS REVENUE In € millions 124 +29% STRONG GROWTH OF REVENUE AND EBITDA 96 29% revenue growth year on year 29% fitness revenue growth 33% other revenue growth H1 2015 H1 2016 43% adjusted Club EBITDA margin (42% in H1 2015) ADJUSTED EBITDA 37 In € millions 39% adjusted EBITDA growth ye
Slide 4: Strong Rollout Pipeline and Visibility at Group Level
STRONG ROLLOUT PIPELINE AND VISIBILITY AT GROUP LEVEL ACTUAL NEW OPENINGS OF BASIC-FIT CLUBS BASIC-FIT IS ON TRACK TO DELIVER THE 2016 ROLLOUT PLAN (New Openings - # of Clubs) 2016-18 Pipeline Visibility (# of Clubs) 100 100 95 90 90 80 80 74 70 c. 65-75 70 60 60 51 50 50 40 40 36 30 30 30 23 20 20
Slide 5: The France Opportunity
THE FRANCE OPPORTUNITY CAPTURING THE OPPORTUNITY CITY BY CITY Belgium France 8% penetration rate; substantially below US and European average Huge white space potential New Openings Converted Clubs North East North West South West South East Centre Ile-De-France Proven model and lessons learned from
Slide 6: Yield Management & Other Revenue
YIELD MANAGEMENT & OTHER REVENUE ROLLOUT OF YANGA ACROSS THE COUNTRIES; PERSONAL TRAINERS IN HIGH DEMAND ADD-ONS SECONDARY REVENUE SPORTS WATER DAY PASS PERSONAL TRAINING & PHYSIO • Key metrics: • Day passes lower hurdle to get ― ~98k subscriptions = 9% membership penetration acquainted with Basic-F
Slide 7: Levers for Future Growth
LEVERS FOR FUTURE GROWTH INCLUDED IN BUSINESS PLAN BEYOND THE PLAN M&A OPTIONALITY YIELD MANAGEMENT & • Disciplined and return-focused SECONDARY INCOME approach to acquisitions • Cost-efficient path to securing • Basic-Fit is committed to keeping attractive locations and expanding membership fees lo
Slide 8: Track Record of Growth Continued
TRACK RECORD OF GROWTH CONTINUED CONTINUED GROWTH IN CLUBS, MEMBERSHIP, SALES AND ADJUSTED EBITDA PROVEN AND SCALABLE MODEL DRIVING RAPID INTERNATIONAL EXPANSION… # of Clubs # of Memberships (‘000s) 1,500 368 1,116 400 338 956 1,000 264 792 199 553 200 500 0 0 2013 2014 2015 H1 '16 2013 2014 2015 H1
Slide 9: Detailed P&L and Geographic Revenue Split
DETAILED P&L AND GEOGRAPHIC REVENUE SPLIT H1 '16 H1 '15 change In € millions H1 '16 H1 '15 change In € millions Total revenue 123.8 96.1 29% Netherlands 48.9 39.3 24% Fitness revenue 121.3 94.2 29% Belgium 52.2 43.7 19% Other revenue 2.5 1.9 33% Luxemburg 4.1 3.7 10% France 9.4 3.7 156% Operating ex
Slide 10: Adjusted Net Earnings
ADJUSTED NET EARNINGS Reconciliation net result to adjusted net earnings In € millions H1 '16 H1 '15 Net result (26.1) (12.1) Amortisation 8.1 7.3 Exceptional items 6.9 1.9 Pre-opening costs 0.7 0.1 Transaction costs 4.9 - Other exceptional costs 1.4 1.8 One-off costs 12.4 - Breakage cost related to
Slide 11: Cash Flow Summary
CASH FLOW SUMMARY WE INVEST SIGNIFICANTLY TO MAINTAIN HIGH QUALITY STANDARDS AT OUR CURRENT ESTATE AND ROLLOUT NEW CLUBS In € millions H1 2016 H1 2015 Maintenance capex 37.2 26.7 €21 thousand per club in H1 2016 Adjusted EBITDA Expected capex per club for the full year around €35 thousand Maintenanc
Slide 12: Strong Capital Structure
STRONG CAPITAL STRUCTURE FIT FOR THE NEXT GROWTH PHASE Proceeds of IPO used to deleverage New facilities agreement with improved terms Substantially lower interest expenses going forward Net debt of €176 million; 2.5 x LTM adjusted EBITDA In € millions 30 JUN 2016 31 DEC 2015* Bank borrowings and ot
Slide 13: Medium Term and 2016 Outlook
MEDIUM TERM AND 2016 OUTLOOK OUTLOOK 2016 For full year 2016 we are confident to open between 65 and 75 clubs We expect to report revenue of around €260 million and adjusted EBITDA of at least €80 million MEDIUM TERM OUTLOOK For the medium term we reiterate our guidance of over 20% revenue growth wi
Slide 14: Any Questions?
ANY QUESTIONS? BASIC
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: Basic-Fit NV contact details
Basic-Fit NV Weegalaan 60 2132 JC Hoofddorp The Netherlands investor.relations@basic-fit.com +31 23 890 1750 corporate.basic-fit.com 16