Basic-Fit N.V. (OTCPK:BSFFF) Q3 2025 Sales Call October 17, 2025 8:00 AM EDT Company Participants Richard Piekaar - Director of Treasury, Investor Relations & Sustainability René Moos - Founder, Chairman of the Management Board & CEO Maurice de Kleer - CFO & Member of Management Board Conference Call Participants Kris Kippers - Banque Degroof Petercam S.A.
Investor sentiment toward Basic-Fit is poised for a major positive shift, which should lead to a period of increased profitability, upside to consensus forecasts, and a higher multiple. Our primary research suggests a high likelihood of a French government regulation change to allow gyms to operate 24/7, which will reduce temporary costs, drive increased memberships and club profitability. We believe Basic-Fit is entering a beat & raise phase relative to its financial performance, and FY26 consensus is too low by 15%-20%.
Basic-Fit's Q1 update shows revenue of €332 million (17% YOY) and 10% membership growth, with 41 new clubs opened, reaffirming 2025 guidance. Growth deceleration and increased maintenance capex in French stores raise concerns about market saturation and margin pressures, despite BSFFF management's cost control efforts. The new three-tier membership structure increased average revenue per member by 2.9%, with no margin squeeze, maintaining a 24-27% EBITDA margin.
| Health Care Equipment & Supplies Industry | Healthcare Sector | Mr. René M. Moos CEO | OTC PINK Exchange | NL0011872650 ISIN |
| NL Country | 8,937 Employees | - Last Dividend | - Last Split | - IPO Date |
Basic-Fit N.V. is a prominent player in the fitness industry, operating a chain of fitness clubs across multiple European countries. Founded in 1984, the company has established itself as a leading brand in the fitness sector, offering accessible and high-quality gym facilities under the Basic-Fit brand. Basic-Fit's expansive network spans the Netherlands, Belgium, Luxembourg, Germany, France, and Spain, with its headquarters located in Hoofddorp, the Netherlands. Through its extensive range of clubs, Basic-Fit caters to a diverse clientele, aiming to make fitness accessible to everyone, regardless of their fitness level or experience. The company's growth and success are testament to its commitment to providing affordable and flexible fitness solutions to individuals seeking to lead healthier and more active lifestyles.
Basic-Fit operates fitness clubs that are equipped with a wide range of gym equipment suitable for both beginners and experienced fitness enthusiasts. These facilities are designed to cater to a multitude of workout preferences, including cardiovascular exercises, strength training, and functional fitness. The aim is to provide a comprehensive fitness experience that encourages members to pursue their health and fitness goals.
Apart from individual exercise equipment, Basic-Fit clubs offer a variety of group classes led by professional instructors. These classes cover a range of activities, from yoga and Pilates to high-intensity interval training (HIIT) and spinning classes. Group classes are aimed at providing a dynamic and motivating environment for members to engage in physical activity while enjoying the camaraderie of fellow fitness enthusiasts.
For those seeking a more personalized workout regime, Basic-Fit provides access to experienced personal trainers. Personal training services are tailored to meet individual fitness goals, whether it's weight loss, muscle building, or improving overall fitness levels. Trainers work closely with clients, offering guidance, motivation, and personalized workout plans to ensure they achieve their desired outcomes.
In response to the growing trend of digital fitness, Basic-Fit offers an array of online resources and apps that complement physical workouts. These digital offerings include virtual classes, workout plans, and fitness tracking features, allowing members to maintain their fitness routines even when they cannot access the clubs. Digital fitness solutions aim to provide flexibility and convenience, ensuring that fitness is accessible anytime and anywhere.