Underlying EBITDA increased by 83% to €110 million



H1 2023 OPERATIONAL HIGHLIGHTS

103 net club openings, expanding the network to 1,303 clubs (up 181 clubs vs. H1 2022)
Memberships increased by 686,000 year-on-year to 3.61 million (H1 2022: 2.92 million)
Average number of memberships in our 888 mature clubs increased to 3,301 (H1 2022: 3,138 for 503 clubs)
Premium membership penetration rate increased to 41% (H1 2022: 26%)
Average revenue per member increased to €23.13 (H1 2022: €22.22)

H1 2023 FINANCIAL HIGHLIGHTS

Revenue increased by 41% to €500 million (H1 2022: €355 million)
Underlying EBITDA increased by 83% to €110 million (H1 2022: €60.2 million)
Underlying net result of €2.4 million (H1 2022: loss of €20.6 million)
Bank financing successfully amended and extended to June 2027

OUTLOOK 2023

Revenue of at least €1 billion reiterated
Substantially higher underlying EBITDA in H2 2023 compared to H1 2023
Gradual increase of the average revenue per member per month to at least €23.50 (LTM)
Club network expected to increase by at least 200 clubs reiterated
Total number of memberships to grow to at least 3.8 million
ROIC of mature clubs of well over 30% reiterated

RENE MOOS, CEO BASIC-FIT
“In the first half of 2023 we were able to show strong growth in the number of clubs, memberships and underlying EBITDA compared to the first half of the recovery year 2022. The membership development was particularly strong considering the normalised churn level and the high Premium membership take-up rate of more than 55%. Of our base 41% is now a Premium member.


The year started with elevated operating costs, particularly wages, rent and energy costs. As a result of the adjusted membership structure for new members and an increasing uptake of the premium membership, the average revenue per member per month is increasing and will
continue to increase this year and in 2024. This will help us mitigate the inflationary pressures
and achieve our ROIC target of well over 30%.


By the end of the first half, we were able to sign more favourable energy contracts for France for both 2024 and 2025. Based on these much lower prices and taking into account the fixed prices for part of our consumption in our other countries, we expect the average energy bill per club willdrop from approximately €55 thousand per club in 2023 to approximately €35 thousand per club in 2024 and 2025. ”

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