Basic-Fit enters Germany

In 2021, the Basic-Fit network grew by 110 to 1,015 clubs (up 12% year on year) and the number of memberships increased by 11% to 2.22 million (2020: 2.00 million). Financial results were affected by COVID-19-related temporary club closures and government restrictions. Thereby, the company realized revenues of 341 EURm (2020: 377 EURm), an underlying EBITDA of 31.6 EURm (2020: 93.8 EURm) and a net loss of 150 EURm (2020: 125 EURm).

At the end 2021, Basic-Fit had 361 EURm available liquidity. The company sees itself “well positioned” for next growth phase. Starting in 2022, Basic-Fit will further accelerate the pace of club openings to between 200 and 300 clubs a year. This is an increase from 100 to 150 openings per year in the period 2017-2021. The company expects to increase its network to 1,250 clubs by the end of 2022 and 2,000 clubs by 2025. By 2030, it expects to have increased our network to 3,000 to 3,500 clubs.

To achieve this long-term aim the company is entering Germany in the current year as its sixth country market. First openings are expected for the second half reaching a total of up to 20 club in 2022. In total, the company estimates a potential of 600 Basic-Fit clubs in Germany. With respect to membership, management has seen a strong growth in the first couple of months of 2022. The increase is expected to be around 400,000 memberships (18%) to 2.6 million at the end of March. Based on this development, it sees a membership growth of at least 1 million in 2022.

Basic-Fit’s CEO Rene Moos comments: “After a second year dominated by the global COVID-19 pandemic, we ended 2021 in good shape; we increased our network by 110 clubs to a total of 1,015 and ended the year in a strong financial position to support our accelerated growth ambitions. During the year, the governments in our countries of operation increasingly recognised the importance of fitness. As a result, we were able to keep our clubs open in most countries, even when contamination and hospitalisation rates increased during the latter part of 2021. This is great progress in my view compared to the situation in 2020 and the start of 2021.

When we reopened our clubs in May and June, we registered a record number of joiners, further reinforcing our view that fitness meets the important need of staying healthy. We see a bright future for value-for-money fitness and the Basic-Fit proposition in particular. In November, we announced our intention of accelerating club openings to 200 to 300 a year, with the aim of growing to 2,000 clubs by 2025 and between 3,000 and 3,500 clubs by 2030. In the second quarter of 2022, we will start with the construction of the first clubs in Germany and expect to open the first ones in the second half of this year. In total, we expect to be able to open 600 clubs in Germany in the coming years. Year to date, we opened 66 clubs and are on track to grow our network to 1,250 clubs this year. We expect to grow the number of memberships by at least 1 million following a strong development in January and February and an even stronger first eight days in March, triggered by the lifting of health pass restrictions. All in all, 2022 promises to be a year of recovery and growth.”

Source: Basic-Fit
Picture: Basic-Fit

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