FIRST THREE MONTHS HIGHLIGHTS
Number of clubs in the network was unchanged in the quarter at 905; an increase of 77 clubs year on year
Number of memberships decreased by 10% in the first quarter to 1.80 million (Q4 2020: 2.00 million)
Revenue of € 10.7 million (Q1 2020: €137.5 million) with 94% of our clubs being closed due to government measures
€37 million investments in the installation of smart camera systems, club layout improvements, software and new product development and expansion capex
€142 million liquidity available at quarter end
OUTLOOK 2021
Current government roadmaps indicate possible reopening of our clubs in the Netherlands on 11 May and in Belgium and France shortly thereafter
Our clubs can reopen with strict protocols offering our members a safe place to work out in, as soon as government measures for fitness clubs are lifted
When we have reopened our clubs and have more visibility on the development of COVID-19 and memberships, we will update the market on our expectations regarding club openings for 2021 and 2022
René Moos, Basic-Fit CEO: “The current period of club closures in our larger markets are lasting longer than expected and we believe also longer than needed. Whilst we all know that being fit and active helps to strengthen people’s immune system, this received little attention from the governments and policy makers in these countries. With our online reservation system, we are able to manage the flow of people to our clubs and the number of people in our clubs at any given time. This in combination with clear signage in the club assures that social distancing can be maintained. In addition, our large clubs are equipped with optimised ventilation systems and we can therefore reopen our clubs and offer our members a safe place to work out in. We proved this last year when we had more than 30 million visits without any reported outbreaks of COVID-19.

The good news is that due to the vaccination programmes we are getting closer to the reopening of the economy and our clubs. In the coming months we expect to be able to reopen our clubs; first in the Netherlands on 11 May, followed by Belgium and France soon thereafter. We are ready to welcome our members back to our clubs and welcome all those new joiners who are eager to become active again and work on their fitness after all these inactive months.”