Half Year 2025 Basic-Fit NV Earnings Call Transcript
Key Points
- Basic-Fit NV (BSFFF) achieved a 10% year-over-year increase in membership, reaching 4.51 million members.
- Revenue increased by 16% to EUR 677 million, driven by club network expansion and higher average monthly yield per member.
- The company is on track to meet its full-year revenue guidance of EUR 1.375 billion to EUR 1.425 billion and underlying EBITDA less rent guidance of EUR 330 million to EUR 370 million.
- Basic-Fit NV (BSFFF) initiated a EUR 40 million share buyback program, enhancing shareholder returns.
- The company plans to launch a franchise platform, leveraging its scale, technology, and knowledge, with discussions ongoing with potential partners.
- Personnel costs increased significantly due to 24/7 club operations and changes in labor legislation in France and Spain.
- The underlying club EBITDA less rent margin decreased to 33.7% from 37% in the first half of 2024, primarily due to investments in 24/7 clubs.
- Free cash flow was negative at EUR 57.4 million in the first half of 2025, attributed to high CapEx spending.
- The EBITDA per mature club decreased year-on-year, impacted by increased personnel costs and the 24/7 staffing model in France.
- The company faces uncertainty regarding French legislation changes that would allow for unstaffed 24/7 clubs, impacting cost structures.
Hello and welcome to Basic-Fit 2025 half-year results conference call and webcast. Please note that today's conference is being recorded.
(Operator Instructions)
I will now turn the call over to your host for today's conference, Richard Piekaar, Head of Investor Relations. Sir, you may begin.
Thank you, Laura, and good afternoon, and welcome to our conference call and webcast, everyone. With me today are CEO, Rene Moss; and our CFO, Maurice de Kleer. The call is being broadcast live on our website, and a recording of the call will be available shortly afterwards and as usual, I would like to point out that safe harbor applies.
We will start with Rene, who will discuss the highlights and the operational developments during the first half, followed by a more detailed look at the financial results for Maurice. And after these prepared remarks, we will open the call for questions. The call will finish no later than 3 p.m. And with that, Rene, I
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