Basic-fit Nv · EURONEXT:BFIT
Basic-fit Nv — Basic-Fit N V Ord — Q4 2025 Earnings Presentation
46 slides from Basic-fit Nv's earnings presentation, Mar 11, 2026
Slide 1: Basic-Fit
BASIC-FIT INN ESmOR BR 5) MARCH 2025 /, BASIC-FIT
Slide 2: Contents
CONTENTS 01 Recap FY 2024 02 History & track record 03 The opportunity 04 Our growth strategy 05 Why our model works 06 Sustainability 07 Appendix
Slide 3: Recap FY 2024
RECAP FY 2024 BASIC-FIT
Slide 4: 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 4
Slide 5: 1,575 clubs compared to 1,402 at the end of 2023 (+12%)
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 6: 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 7: Revenue per club development per cohort
Revenue per club development per cohort* The pre-COVID-19 clubs (< 2020; 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 8: Post-COVID clubs show weak revenue ingrowth due to pandemic
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 8
Slide 9: 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 10: Capital efficient strategy enables Basic-Fit to
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 11: Syndicated facilities: €780 million due June 2028 + option to extend
€ 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 12: 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% 12
Slide 13: History
HISTORY SANG [Ra ECOR (0) BASIC-FIT
Slide 14: A long track record of growth in the fitness space
A LONG TRACK RECORD OF GROWTH IN THE FITNESS SPACE 1984 2010 2013 2016 2019 2023 Our team started Acquisition of Separation Basic- IPO listing on Basic-Fit is Europe’s Surpassed the Mid-market brand Basic-Fit Fit / HealthCity and Amsterdam largest and fastest €1 billion revenue 198 clubs at peak in
Slide 15: All KPIs have double digit CAGRs between 2016-2024
ALL KPI’S HAVE DOUBLE DIGIT CAGRs BETWEEN 2016-2024 # of clubs # of memberships (‘000s) CAGR– 2024 R CAG – 2024 1 8% 2016 1,575 5,000 1 7% 2 0 16 4,254 1,402 1,500 3,802 1,200 4,000 1,015 3,352 905 1,000 784 3,000 629 2,221 2,220 521 1,843 2,001 419 2,000 1,524 500 1,211 1,000 - 2016 2017 2018 2019
Slide 16: The opportunity
THE
Slide 17: Providing access to high value & low-price fitness will drive membership growth
PROVIDING ACCESS TO HIGH VALUE & LOW-PRICE FITNESS WILL DRIVE 50-100% MEMBERSHIP GROWTH IN IMMATURE MARKETS MEMBERSHIP PENETRATION, % Basic-Fit’s markets of presence 25% Fitness membership penetration in the US: 22% 20% 21% 20% 19% 19% 18% 15% 16% 13% 10% 12% 11% 11% 11% 9% 9% 8% 5% 6% 0% SE NO DK F
Slide 18: There are only a few large value-for-money fitness chains
THERE ARE ONLY A FEW LARGE VALUE-FOR-MONEY FITNESS CHAINS 6 5 5 2 3 2 4 5 1 2 3 2 1 Countries HQ based Avg club 1,400 – 1,500 500 – 2,200 700 – 1,500 500 - 600 1,500 300 – 1,500 n/a n/a 750 – 1,400 n/a 1,200–2,000 n/a 1,500–2,000 size (sqm) Franchise No In Asia Mainly Mainly Mainly Mainly No No No M
Slide 19: Increased awareness of health & wellness
INCREASED AWARENESS OF HEALTH & WELLNESS RISE IN LIFE EXPECTANCY – EUROPEAN UNION(a) 90 84 87 80 81 75 Years 71 70 50 1970 1990 2010 2022 2040 2060 INCREASE IN DIABETES – GLOBALLY(b) Million people 1,000 783 1998 2022 537 643 366 415 151 69% 86% 0 2000 2011 2015 2021 2030* 2045* GROWING OBESITY(c) M
Slide 20: Our growth strategy
OUR GROWTH SULA EOY BASIC-FIT
Slide 21: Pillars
PILLARS Yield management & other revenue • Basic-Fit is committed to keeping memberships fees low Maturation • Increase membership yield by of existing estate offering value-added products and services • Visible and consistent maturity profile New for new openings • Other revenue sources from day- p
Slide 22: 3,000-3,500 clubs potential by increasing fitness penetration and market share
3,000-3,500 CLUBS POTENTIAL BY INCREASING THE FITNESS PENETRATION AND MARKET SHARE GAINS Netherlands 06/2024 GOAL HOW Belgium Germany 241 clubs 350 clubs Clusters Luxembourg 237 clubs 350 clubs Regional clubs France Big cities / Paris / 834 clubs 1,200 clubs idf / regional clubs 201 clubs 450-700 cl
Slide 23: Cluster strategy enhances market position and increases penetration
CLUSTER STRATEGY ENHANCES MARKET POSITION AND INCREASES PENETRATION A club can be built in a catchment area with at least 30K inhabitants The number of clubs that we open in an area depends on the total memberships potential Simultaneous fit-out of cluster clubs Operational advantages for regional m
Slide 24: Maximising future growth & returns
MAXIMISING FUTURE GROWTH & RETURNS IN A FRANCHISE MODEL, POTENTIAL POSSIBLE WE CAN LEVERAGE BENEFITS OUTCOMES Faster growth Our own technology and opportunities Start franchise automation capabilities on our own Operate in more Our site selection and countries Buying an established construction comp
Slide 25: To maximise franchisees return
TO MAXIMISE FRANCHISEES RETURN SMART REFURBISHMENT BASIC-FIT RETENTION APP REGISTRATION PROGRAMMES KIOSK LOW BREAK- EVEN POINT HOME CONTENT 24/7 VIRTUAL GROUP LESSONS LEAN AUTOMATED STAFFING MODEL EXPANSION PROCESS REMOTE STADIUM PURCHASING FACILITY GATE POWER QR CODE CLUB ENTRY OUTSOURCED SERVICES
Slide 26: Club maturation drives EBITDA growth
CLUB MATURATION DRIVES EBITDA GROWTH +36% €399K Underlying club EBITDA increases with maturation of network €293K* Short-term: average mature club EBITDA less rent initially impacted by inflated cost base and to improve during 2025 as yield per member increases Longer-term: underlying club EBITDA le
Slide 27: 4% of total revenue, highly profitable
4%* OF TOTAL REVENUE, HIGHLY PROFITABLE ADD-ONS / YIELD OTHER REVENUE SPORTS WATER DAY PASS PT & PHYSIO PERSONAL ONLINE Available in all Basic-Fit clubs For one-time visits 1,094 clubs with COACH Ca.20% membership penetration Sold at kiosks at the personal trainers Coaching from a clubs 291 clubs wi
Slide 28: Club always part of life
28 CLUB ALWAYS PART OF LIFE Audio workouts home Basic-Fit app central communication hub Customer journey e-mail Home training app ° GXR video platform Personal online coach Chat assistant Home bike My Basic-Fit Recipes & nutrition advice
Slide 29: Why our model works
WHY OUR [MI@ D) SAVORS BASIC-IT
Slide 30: Scalable business model
AND SCALABLE BUSINESS MODEL Experience and proven track record Best-in-class Operating cost Capex efficiency execution efficiency Compelling Engaging Ability to consumer member reinvest proposition journey Efficient & professional organisation Significant scale benefits and barriers to entry 30
Slide 31: We make affordable fitness available for all
WE MAKE AFFORDABLE FITNESS AVAILABLE FOR ALL High quality estate State of the art equipment Exciting exercise programmes 31
Slide 32: Current offer in France
COMFORT €24,99 /4weken Onbeperkt toegang tot alle clubs in Nederland! Basic-Fit App met 1000- workouts © Groepsiessen in de club / thuis © Train op elk moment in onze 24/7 clubs © €19,99 inschrijfkosten PREMIUM €29,99 / 4 weken Alles wat Comfort heeft. plus: Onbeperkt toegang tot alle clubs in Europ
Slide 33: Technology enhances the customer experience whilst keeping costs low
TECHNOLOGY ENHANCES THE CUSTOMER EXPERIENCE WHILST KEEPING COSTS LOW Sign-up Enter club 24/7 Customer Kiosk & Online registration Stadium Gate Service Seamless self-service Secure & Digital Customer Support integrates sign up and membership controlled entry AI and Live Chat changes Live chat on web
Slide 34: Member journey
34 MEMBER JOURNEY 30 BASIC-FIT HAS A LONGER LENGTH 23 to 24 OF STAY THAN THE AVERAGE FITNESS CLUB months 18 to 19 20 months Basic-Fit has a longer average length of stay than the fitness industry in general and our figure is growing 10 Our average length of stay (LoS) at the time of our IPO was 18-1
Slide 35: Driven by technology, local market insights and experience
DRIVEN BY TECHNOLOGY, LOCAL MARKET INSIGHTS AND EXPERIENCE Research Analysis Approval / New Club Nationwide sourcing of Negotiation Opening sites (via real estate New club analysis agencies) (i.e. costs and Business manager, Fit-out complete memberships property manager and White spot analysis devel
Slide 36: Detailed analysis remains fundamental to our competitiveness
DETAILED ANALYSIS REMAINS FUNDAMENTAL TO OUR COMPETITIVENESS Inhabitants Age Other Fitness distribution demographics penetration Competitors Competitor Market Members analysis share Drive Time Analysis 36
Slide 37: Sustainability
SUSTAINABILITY
Slide 38: Basic-Fit & sustainability a natural match
BASIC-FIT & SUSTAINABILITY A NATURAL MATCH Increasingly sedentary lifestyles On demand society Lifestyle diseases Increasing awareness of health & fitness Fitness is part of the solution Clubs close to where people live or work Low-priced membership fees Exercise whenever, wherever and however you w
Slide 39: Low cost = small footprint
LOW COST = SMALL FOOTPRINT Fitness equipment is self powered LED lighting No swimming pools or sauna Water saving shower heads Water flow and shower time management Recycled paper paper-towels Etc. 39
Slide 40: Taking steps
TAKING STEPS Awareness of One step beyond, Responsible company new regulations optimising positive aiming for positive impact and starting to impacts and address material tackling negative = Taking meaningful steps impacts ones 2018 2024 • Identify value drivers • Launch partnerships • Launch 2030 p
Slide 41: Fitter World programme
FITTER WORLD PROGRAMME Healthy Healthy Healthy people planet communities Improve health Reduce our environmental Invest at least €5 mln. to support and wellbeing for footprint by being carbon neutral our communities towards a fitter 15 mln. people* in our clubs and offices life and a more inclusive
Slide 42: CSRD / ESRS reporting examples
42 Examples: • The administrative, management and supervisory bodies’ roles and responsibilities General requirements General disclosures and access to expertise and skills regarding sustainability; ESRS 1 ESRS 2 • Risk management and internal control system in relation to sustainability reporting;
Slide 43: Appendix
APPENDIX BASIC-FIT
Slide 44: Term Definition
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 45: 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 46: Thank you
THANK YOU EORVOUWR A\ULSIN TION BASIC-FIT