Basic-fit Nv · EURONEXT:BFIT
Basic-fit Nv — Basic-Fit N V Ord — Q2 2023 Earnings Presentation
14 slides from Basic-fit Nv's earnings presentation, Jul 25, 2023
Slide 1: Basic-Fit
BASIC-FIT SPEAKERS: RENÉ MOOS, CEO & HANS VAN DER AAR, CFO 25 JULY 2023
Slide 2: Record revenue and underlying EBITDA
RECORD REVENUE AND UNDERLYING EBITDA Clubs Members Revenue Underlying EBITDA 1,303 €3.61 million €500 million €110 million Up 16% year-on-year Up 23% year-on-year Up 41% H1 2022: €60 million year-on-year 2
Slide 3: 1,303 clubs, market leadership extended in 5 countries
235 (+4) Netherlands 6 (+3) Germany 222 (+3) Belgium 1,303 clubs compared to 1,200 at the end of 2022 (+9%) and 1,122 in H1 2022 (+16%) 10 (-) Luxembourg Market leadership extended in 5 countries 718 (+71) France France: 110 net club growth over past 12 months (+18%) Spain: 45 net club growth over p
Slide 4: 3.61 million memberships at the end of June 2023
3.61 MILLION AT THE END OF JUNE 2023 Memberships 2019 - Jun 2023 4.0 Growth was recorded in all countries and mature clubs have on 3.5 average 3,301 memberships 3.0 Both joiner and leaver trends have normalised to pre-COVID levels 2.5 Some impact witnessed from strikes and civil unrest in France 2.0
Slide 5: 18% points increase in premium penetration over past 18 months
18% POINTS INCREASE IN PREMIUM PENTRATION OVER PAST 18 MONTHS Premium memberships (% of total) 41% Perceived value and effective promotions drive Premium take-up rate Penetration increased from 23% in January 2022 to 41% in June 2023 % 2019 2020 2021 2022 2023 2024 Further increase expected to over
Slide 6: Club network expected to grow by at least 200 in 2023
Club network expected to grow by at least 200 in 2023, in line with long-term targets Most club openings in France and Spain Contracts signed for 65 clubs in Germany in next 18 months CLUB OPENINGS PIPELINE (# CLUBS) > 400 400 200 163 118 107 94 0 Net openings Under Contracts Contracts being Sites b
Slide 7: Financial
FINANCIAL
Slide 8: Underlying EBITDA up 83% to €110 million
UNDERLYING EBITDA UP 83% TO €110 MILLION Ke y figure s (in € millions, unaudited) H1 2023 H1 2022 Ch an ge To tal re ve n u e 500.4 354 .6 4 1% Und erlying net result (in € millions) H1 2 0 2 3 H1 2 0 2 2 of which club revenue 496.5 351.8 41% (6 .1) (2 8 .0 ) Net result of which non-club revenue 3.9
Slide 9: Memberships back at pre-COVID level
MEMBERSHIPS BACK AT PRE-COVID LEVEL Mature club average memberships 4,000 Average memberships per mature club up from 3,138 at 503 clubs in Jun 2022 to 3,301 at 888 clubs in Jun 2023 3,000 Mature clubs account for 68% of total clubs and approx. 80% of Group revenue 2,000 Q2 Q4 Q2 Q4 Q2 Q4 Q2 Q4 Q2 1
Slide 10: Capex and cash flow
in € millions H1 2 0 2 3 H1 2 0 2 2 H1 2 0 19 Und erlying EB I TD A 110 .3 6 0 .2 6 9 .7 Maintenance capex (23.2) (32.5) (11.9) Cash flow (pre- expansion capex) 8 7.1 2 7.7 5 7.7 Operating cash conversion 79% 46% 83% Expansion capex €1.21 million (H1 2022: €1.16 million) spent on average per newly b
Slide 11: Working capital, net debt and liquidity
Working capital minus €168 million / -18% of LTM revenue Net debt* of €767 million (FY 2022: €694 million) Net debt/adj. EBITDA of 2.57 (FY 2022: 2.92) GO-C fully repaid (€13.3 million in H1 2023) Amend & Extend existing term and revolving facilities agreement to 2027 Available liquidity of 138 mill
Slide 12: Substantially higher underlying EBITDA in H2 2023 compared to H1 2023
SUBSTANTIALLY HIGHER UNDERLYING EBITDA IN H2 2023 COMPARED TO H1 2023 Club network to grow Revenue of at least Mature club ROIC of Gradual increase by at least €1 billion well over 30% avg revenue per 200 clubs member/month to at least €23.50 12
Slide 13: Forward-looking statements
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
Slide 14: Thank you
THANK YOU FORBVOUR -STaEINGTOIN BASIC-FIT