Total number of memberships increased by 24% year on year to 1.65 million
THREE MONTHS HIGHLIGHTS

Number of memberships increased by 24% year on year to 1.65 million (Q1 2017: 1.33 million)
Group revenue increased by 20% year on year to €92.6 million; excluding the impact of IFRS 15 this would have been an increase of 22% to €93.9 million (Q1 2017: €76.9 million)
Number of clubs in the network increased by 12 in Q1 to 533 (Q1 2017: 440 clubs); continue to be on track to open around 100 clubs in 2018

REVENUE DEVELOPMENT
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Basic-Fit reported revenue of €92.6 million over the first three months of 2018. This is an increase of 20% compared to the €76.9 million in the same period in 2017. The increase is explained by the increase in memberships (up 24% to 1.65 million) and higher other revenue (up 56% to €2.5 million), which were partly offset by a lower average revenue per member per month (due to the larger stake of France with a 20% VAT rate) and a €1.3 million non-cash negative impact of the IFRS 15 implementation as explained at our full year results in March.

Rene Moos, CEO Basic-Fit:
“We started the year very well by increasing the total number of memberships by a record of 126 thousand to 1.65 million. This is a good achievement and it provides a solid basis for the remainder of the year.

We are confident to grow our network by around 100 clubs in 2018 and onwards. Like last year, the club openings will be back-end loaded in the first half of the year in which we expect to open around 45 clubs. In the second half of the year the number of club openings will be around 55 clubs.”

In the first three months, we opened 13 clubs. In Belgium we merged two clubs for efficiency purposes, resulting in an increase of our network by 12 clubs to 533. 11 clubs were opened in France, one in Belgium and one in the Netherlands

see and read more on
http://files.smart.pr/d7/10697044b011e88301e5b3676a8ec8/180423-Basic-Fit-Trading-Update-Q1.pdf

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