Well on track to reach the 2024 targets
FIRST NINE MONTHS HIGHLIGHTS
• Revenue increased by 17% to €892 million in first nine months (9M 2023: €765 million)
• Number of clubs increased by 14% (up 194) to 1,570 versus a year ago (up 168 year to date)
• Number of memberships increased by 13% year on year to 4.20 million (9M 2023: 3.71 million)
• Average revenue per member per month increased to €23.86 (9M 2023: €23.28)
OUTLOOK 2024
• Club network to increase to around 1,575 clubs per year-end 2024
• Revenue of between €1.20 billion to €1.25 billion
• Underlying EBITDA less rent1 of between €305 million and €330 million (+17% to +26% vs €261 million in 2023)
• Free cash flow before new club expansion per share of between €2.60 and €2.95 (+24% to +41% vs €2.09 in 2023)
• ROIC of mature clubs of well over 30%
RENE MOOS, CEO BASIC-FIT
"The first nine months of the year developed according to plan with continued strong growth in revenue and memberships. We are well on track to reach our year-end targets and empower an ever-growing number of individuals to embrace a healthier lifestyle. In France, membership growth trends have been improving on the back of the continued investments in the quality of our clubs and longer opening hours. We will continue to improve our offering in France, offering massage chairs in all clubs and further increasing opening hours.
The strong back-to-school campaign resulted in a further growth of our membership base by 112 thousand in the quarter, which we see continuing in the first weeks of October 2024. I am also pleased that the performance of the mature clubs continued to improve. The average revenue and the average underlying club EBITDA less rent over the first nine months of our 993 mature clubs, including the 2021 cohort, improved compared to the averages of the 882 mature clubs in the same period in 2023."
Download press release:
https://corporate.basic-fit.com/docs/BASIC-FIT%20REPORTS%20STRONG%20GROWTH%20OVER%20FIRST%20NINE%20MONTHS%20?q=52dLiEahnegk1ojIk2uWDX
FIRST NINE MONTHS HIGHLIGHTS
• Revenue increased by 17% to €892 million in first nine months (9M 2023: €765 million)
• Number of clubs increased by 14% (up 194) to 1,570 versus a year ago (up 168 year to date)
• Number of memberships increased by 13% year on year to 4.20 million (9M 2023: 3.71 million)
• Average revenue per member per month increased to €23.86 (9M 2023: €23.28)
OUTLOOK 2024
• Club network to increase to around 1,575 clubs per year-end 2024
• Revenue of between €1.20 billion to €1.25 billion
• Underlying EBITDA less rent1 of between €305 million and €330 million (+17% to +26% vs €261 million in 2023)
• Free cash flow before new club expansion per share of between €2.60 and €2.95 (+24% to +41% vs €2.09 in 2023)
• ROIC of mature clubs of well over 30%
RENE MOOS, CEO BASIC-FIT
"The first nine months of the year developed according to plan with continued strong growth in revenue and memberships. We are well on track to reach our year-end targets and empower an ever-growing number of individuals to embrace a healthier lifestyle. In France, membership growth trends have been improving on the back of the continued investments in the quality of our clubs and longer opening hours. We will continue to improve our offering in France, offering massage chairs in all clubs and further increasing opening hours.
The strong back-to-school campaign resulted in a further growth of our membership base by 112 thousand in the quarter, which we see continuing in the first weeks of October 2024. I am also pleased that the performance of the mature clubs continued to improve. The average revenue and the average underlying club EBITDA less rent over the first nine months of our 993 mature clubs, including the 2021 cohort, improved compared to the averages of the 882 mature clubs in the same period in 2023."
Download press release:
https://corporate.basic-fit.com/docs/BASIC-FIT%20REPORTS%20STRONG%20GROWTH%20OVER%20FIRST%20NINE%20MONTHS%20?q=52dLiEahnegk1ojIk2uWDX
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