H1 2025 FINANCIAL HIGHLIGHTS
• Revenue increased by 16% to €677 million (H1 2024: €585 million)
• Average revenue per member per month increased by 4% to €24.73 (H1 2024: €23.80)
• Underlying EBITDA less rent1 increased by 8% to €150 million (H1 2024: €139 million)
• Operating leverage with overhead including marketing decreased to 11.0% of revenue (H1 2024: 12.7%)
• Net loss of €7.9 million (H1 2024: net profit €4.2 million) mainly due to a one-off non-cash charge of €10.8 million linked to the convertible bond
• Underlying net profit increased by 5% to €13.7 million (H1 2024: €13.0 million)
H1 2025 OPERATIONAL HIGHLIGHTS
• 53 net club openings, expanding the network to 1,628 clubs (up 6% year-on-year)
• Number of memberships increased by 10% year-on-year to 4.5 million (H1 2024: 4.1 million)
• Memberships as a result of the 24/7 clubs in France, Germany and Spain increasing as expected
OUTLOOK 2025 REITERATED
• Revenue of between €1.375 billion to €1.425 billion
• Further improvement of member experience by increasing number of 24/7 clubs and extending opening hours will increase cost base by €35 million, to be mitigated in time by an increase in the number of memberships
• Underlying EBITDA less rent of between €330 million and €370 million
• Continued improvement of operating leverage; overhead including marketing costs as a percentage of revenue to decrease to between 11.5% and 12.0%
• Positive free cash flow expected in 2025
RENE MOOS, CEO BASIC-FIT
"We had a strong start to the year and remain on track to meet our full-year guidance. Revenue is growing as planned, supported by solid membership growth and a new membership structure that's boosting the average yield per member.
Due to the continued focus on headquarters efficiencies we made further progress in achieving operating leverage. Total overhead costs including marketing remained flat. As a percentage of revenue it decreased to 11.0% in the first half of 2025 compared with 12.7% in the same period last year. With that we are well on track to achieve the 2025 target range.
At the start of the year, we expanded 24/7 operations in France to over 300 clubs. The increase in our cost base, driven by these staffed 24/7 clubs and extended opening hours outside the Benelux, is translating into membership growth as expected.
Even though the cost base increased in the first half of the year, as we look to the second half of the year, we expect an increase in membership and yield growth, leading to a significant improvement in underlying EBITDA less rent. Moreover, due to timing of investments we anticipate lower expansion and maintenance capex in the second half of the year versus what we saw in the first half. We expect that these factors will enable us to achieve a positive free cash flow in 2025."
Download full press release:
https://corporate.basic-fit.com/docs/Basic-Fit%20shares%20Half%20Year%20Results%202025?q=543FDgfvi6CnCxwieZt0Rk
• Revenue increased by 16% to €677 million (H1 2024: €585 million)
• Average revenue per member per month increased by 4% to €24.73 (H1 2024: €23.80)
• Underlying EBITDA less rent1 increased by 8% to €150 million (H1 2024: €139 million)
• Operating leverage with overhead including marketing decreased to 11.0% of revenue (H1 2024: 12.7%)
• Net loss of €7.9 million (H1 2024: net profit €4.2 million) mainly due to a one-off non-cash charge of €10.8 million linked to the convertible bond
• Underlying net profit increased by 5% to €13.7 million (H1 2024: €13.0 million)
H1 2025 OPERATIONAL HIGHLIGHTS
• 53 net club openings, expanding the network to 1,628 clubs (up 6% year-on-year)
• Number of memberships increased by 10% year-on-year to 4.5 million (H1 2024: 4.1 million)
• Memberships as a result of the 24/7 clubs in France, Germany and Spain increasing as expected
OUTLOOK 2025 REITERATED
• Revenue of between €1.375 billion to €1.425 billion
• Further improvement of member experience by increasing number of 24/7 clubs and extending opening hours will increase cost base by €35 million, to be mitigated in time by an increase in the number of memberships
• Underlying EBITDA less rent of between €330 million and €370 million
• Continued improvement of operating leverage; overhead including marketing costs as a percentage of revenue to decrease to between 11.5% and 12.0%
• Positive free cash flow expected in 2025
RENE MOOS, CEO BASIC-FIT
"We had a strong start to the year and remain on track to meet our full-year guidance. Revenue is growing as planned, supported by solid membership growth and a new membership structure that's boosting the average yield per member.
Due to the continued focus on headquarters efficiencies we made further progress in achieving operating leverage. Total overhead costs including marketing remained flat. As a percentage of revenue it decreased to 11.0% in the first half of 2025 compared with 12.7% in the same period last year. With that we are well on track to achieve the 2025 target range.
At the start of the year, we expanded 24/7 operations in France to over 300 clubs. The increase in our cost base, driven by these staffed 24/7 clubs and extended opening hours outside the Benelux, is translating into membership growth as expected.
Even though the cost base increased in the first half of the year, as we look to the second half of the year, we expect an increase in membership and yield growth, leading to a significant improvement in underlying EBITDA less rent. Moreover, due to timing of investments we anticipate lower expansion and maintenance capex in the second half of the year versus what we saw in the first half. We expect that these factors will enable us to achieve a positive free cash flow in 2025."
Download full press release:
https://corporate.basic-fit.com/docs/Basic-Fit%20shares%20Half%20Year%20Results%202025?q=543FDgfvi6CnCxwieZt0Rk
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