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Algemeen advies 06/03/2019 07:37
- Club rollout to accelerate further; around 125 club openings expected in 2019

Revenue increased by 23% to €402 million (2017: €326 million)
Adjusted EBITDA increased by 24% to €124 million (2017: €100 million)
Net earnings increased by 58% to €17.6 million (2017: €11.1 million)
Adjusted net earnings[1] increased by 24% to €29.4 million (2017: €23.6 million)
108 net club openings, growing the network to 629 clubs (up 21% year on year)
Total number of memberships increased to 1.84 million (up 21% year on year)
Other revenue increased by 41% to €10.1 million (2017: €7.2 million) due to increased demand for personal training, day passes and online product sales
Strong club openings pipeline with more than 300 clubs
Expect to open around 125 clubs in 2019
Unchanged target of return on invested capital on mature clubs of at least 30%

Rene Moos, CEO Basic-Fit:
“We had a very successful year in which we delivered on our plans on all fronts, financially and operationally. We added a record 108 clubs to our network as we continue to build out our position as the largest and fastest growing fitness chain in Europe. Revenue and adjusted EBITDA increased by 23% and 24% respectively; a continuation of the strong growth we achieved in the prior years.

To add more value to our memberships we introduced a new membership structure in all countries of operation in December 2018. All membership options now include the Basic-Fit app as a standard. The development of joiners in the first two months of 2019 continued to be healthy and was according to our expectations. More than 20% of the new members have chosen the Premium membership.

The club openings pipeline continues to be well-filled. We will further accelerate the pace of club openings and expect to open around 125 clubs in 2019 and reach the 1,000 clubs mark in 2021. This acceleration enables us to also open more clubs in the Netherlands, Belgium and Spain. We will continue to be disciplined in following our strict site selection process and only open clubs when we expect them to reach a return on invested capital of at least 30%.”

Note: Adjusted (club) EBITDA and adjusted net earnings are non-GAAP measures (see page 9)
[1] Net earnings adjusted for amortisation, exceptional items and one-offs and the related tax effects (25%)

tijd 16.13
Basic Fit EUR 28.55 -1.20 vol. 130.460

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