BASIC-FIT H1 ’16 RESULTS
BASIC-FIT REPORTS STRONG REVENUE GROWTH WITH SIGNIFICANT OPERATING LEVERAGE

H1 FINANCIAL HIGHLIGHTS
· Revenue grew by 29% year on year to €124 million
· Adjusted EBITDA grew year on year by 39% to €37 million
· Adjusted EBITDA margin of 30% (H1 2015: 28%)
· Adjusted net earnings of €3.5 million (H1 2015: €3.1 million)
· Significantly reduced net debt to €176 million and a leverage ratio of 2.5 (YE 2015: €255 million; 4.2 times net debt/LTM adjusted EBITDA)


H1 OPERATIONAL HIGHLIGHTS
· Number of clubs grew to 368; increase of 30 clubs in H1 2016, of which 19 in France
· Total memberships grew to 1.116 million; increase of 28% year on year
· Strong demand for personal trainers and day passes; other revenue up33%
· Sports water being made available in all countries; now sold in 92% of our clubs


OUTLOOK
· For the medium term we reiterate our guidance of over 20% revenue growth with significant operating leverage
· For full year 2016 we expect to report revenue of around €260 million and adjusted EBITDA of at least €80 million
· We are confident to open between 65 and 75 clubs this year


Rene Moos, CEO Basic-Fit:
Basic-Fit had a strong first half of the year in which we continued to deliver substantial growth of our business and further improved our operating margins.

After the successful IPO in June, the simultaneous deleveraging and with the new credit facilities in place we have substantially improved our capital structure. This will enable us to continue to execute our growth strategy and further deleverage going forward.

In the first half of the year we added 30 clubs to our network and in July and August-to-date we opened an additional 13 clubs. With the strong pipeline of clubs under construction we are confident to deliver on the club opening target of between 65-75 clubs this year. These clubs will contribute to our medium term target to achieve a return on invested capital on mature clubs of at least 30%.

tijd 09.08
Basis Fit EUR 15.255 +5ct vol. 6.125