Full Year 2025 Basic-Fit NV Earnings Call Transcript
Key Points
- Basic-Fit NV (BSFFF) achieved a 17% year-on-year revenue increase, reaching EUR1.42 billion, driven by club network expansion and membership growth.
- The company successfully integrated Clever Fit, Europe's largest fitness franchisor, enhancing its market presence in Germany and other DACH countries.
- Memberships grew by 36% to 5.8 million, supported by the Clever Fit acquisition and organic growth in key markets like France, Spain, and Germany.
- Basic-Fit NV (BSFFF) recorded a positive free cash flow of EUR26 million in 2025, marking the first year of positive free cash flow.
- The company fixed energy prices for over 75% of its expected consumption in 2026, mitigating the impact of energy market volatility on financial results.
- The integration of Clever Fit is still in early stages, with ongoing discussions about rebranding and potential challenges in aligning systems.
- A social engineering scam at Clever Fit resulted in an unauthorized outflow of EUR4.2 million, highlighting potential vulnerabilities in financial controls.
- The EBITDA per mature club decreased in 2025 due to additional costs from the 24/7 club model and expansion into rural areas.
- Pending legislation in France regarding 24/7 club operations without staff remains unresolved, impacting cost structures.
- There is minimal headroom for impairment tests on the goodwill paid for Clever Fit, indicating potential risks if profitability improvements do not materialize as expected.
Hello, and welcome to the Basic-Fit 2025 full-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 and Head of Investor Relations. Sir, you may begin.
Well, good afternoon, and welcome to our conference call during which we'll discuss our results over the full-year 2025. With me today are, as usual, CEO, Rene Moos; and our CFO, Maurice de Kleer.
This 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, followed by a more detailed look at the financial results for Maurice. After these prepared remarks, we will open the call for questions, and the call will finish no later than 3:00 PM.
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