Earnings release
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Basic-Fit Q3 2026 Trading Update BASIC-FIT PRESS RELEASE Q3 2026 TRADING UPDATE Hoofddorp, 21 October 2026 STRONG MEMBERSHIP DEVELOPMENT CONTINUING FY 2026 GUIDANCE REITERATED FIRST NINE MONTHS HIGHLIGHTS Revenue increased by 18 % year on year to € 1.21 7 billion in the first nine months ( 9 M 2025: €1.034 billion) Number of owned clubs increased by 15 6 , up 9% year on year to 1,809 clubs ( 9 M 2025: 1,653) Number of owned club memberships increased by 69 0 thousand , up 1 5 % year on year to 5.42 million ( 9 M 2025: 4.73 million) Average number of memberships at Basic - Fit branded owned clubs increased by 13 3 members per club year to date to 3,03 5 (FY 2025: 2, 902 ) Average revenue per member per month of Basi c - Fit branded owned clubs increased to € 2 5 . 64 ( 9 M 2025: € 25.28 ) OUTLOOK 2026 REITERATED Group revenue of between €1.64 billion and €1.69 billion Underlying EBITDA less rent of between €430 million and €460 million Approximately 50 net Basic - Fit owned club openings Significant improvement in positive free cash flow expected in 2026 (FY 2025: €26.1 million) Leverage ratio of just over 2.0 times RENE MOOS, CEO BASIC - FIT “In the third quarter, we saw the strong membership trend continue. Average membership per Basic - Fit branded club increased to 3,03 5 , up from 2,90 2 at the start of the year, particularly supported by a good development in France and Spain. With an increase of 13 3 members per club on average year to date, we are making strong progress towards our m edium - term target of 3,200 members per club. Our continued focus on enhancing the member experience is delivering results. Investments in the look and feel of our clubs, a consistent focus on club quality and actively listening to our members are translat- ing into measurable improvements in member sat isfaction and engagement. Average member ratings on Google have risen steadily over the past few years to 4.5, while member activity levels have also increased. In addition, average member length of stay has c ontinued to increase and is expected to exceed 24 months this year, reflecting our success in building lasting relationships with our members. We have started the conversion of the acquired wellyou , a nd Kraftwerk clubs in Germany to the Basic - Fit format. The 49 clubs in total are expected to be reopened as Basic - Fit clubs at the start of 2027. This is a signif icant step towards achieving the critical mass of 200 Basic - Fit branded clubs in Germany.
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Basic-Fit Q3 2026 Trading Update 2 The 33 owned Clever Fit clubs in Austria and after closing of the transaction the 18 Speedfit clubs in Aus- tria are expected to be converted to Basic - Fit in the summer of next year, in time for the September sales season. By converting the 5 1 clubs we are mak ing significant progress to wards achiev ing market leader- ship in Au s tria. These acquisitions are exemplary for our multi - vertical growth strategy, communicated during our capital markets day. Through a mix of organic, inorganic and franchise driven growth we will grow the network while bringing our ROCE up to low to mid - teens in the medium - term. ” Key metrics 9M 2026 9M 2025 Change Revenue (€ millions) 1,2 1 7 1,034 18% Owned Clubs 1,809 1,653 9% Franchise Clubs 437 0 - Memberships owned clubs (millions ) 5.42 4.73 15% Memberships franchise clubs (millions) 0.83 0 - ARPU¹ 25. 64 25.28 1 % 1 Club revenue divided by average memberships at Basic - Fit branded owned clubs Clubs network and membership development At the end of September 2026, the total club network comprised 2, 246 clubs, an increase of 95 clubs since year - end 2025. The number of owned clubs increased by 93 in the first nine months of 2026, reaching 1,809. Compared to a year ago, this represents an increase of 156 clubs or 9.4% . The number of clubs operating under the Basic - Fit brand was 1,711 at the end of September 2026, compared with 1,653 in Q3 2025 and 1,660 at year end 2025. Following the acquisition of Clever Fit in November 2025, the number of franchise clubs was 4 37 up from 435 at year end 2025. Geographical club split Number of clubs end of period Owned Clubs Q3 2026 FY 2025 Q3 2025 France 901 894 893 Netherlands 250 24 6 245 Spain 246 230 227 Belgium 242 236 2 3 5 Luxembourg 10 10 10 Germany 127 67 43 Austria 33 33 Total owned clubs 1,809 1,716 1,653 Franchise clubs 437 435 - Total owned clubs and franchise clubs 2,2 46 2,151 1,653
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Basic-Fit Q3 2026 Trading Update 3 Our French network increased by seven clubs year to date to 901. In Spain, our network increased by 1 6 clubs year to date to 246. In the Netherlands, our network increased by f our clubs year to date to 250, while in Belgium we added s ix clubs bringing the total to 2 4 2. The German owned club network increased by 84 clubs year on year to 127, driven by the continued integration of Clever Fit, the addition of 41 wellyou clubs acquired in July 2026 and the acquired Kraftwerk clubs. Revenue development Basic - Fit reported an 18% increase in revenue to €1 .217 billion over the first nine months of 2026 (9M 2025: €1.034 billion) . The increase was driven by strong growth in memberships and a higher average revenue per member . Club revenue increased by 16.3% year on year to €1,18 8 million (9M 2025: €1,022 million ). The average revenue per member at Basic - Fit branded owned clubs increased by 1.4 % to €25. 64 (9M 2025: € 25.28 ). Quarter over qu arter the ARPU stayed stable despite the seasonal strong membership ingrowth in September. We expect th e steady ARPU growth to continue going forward. Franchise revenue was €16.5 million and includes royalty and licence fee income from our Clever Fit franchise network. The Clever Fit acquisition closed in November 2025, so there is no comparison base for the first nine months of 2025 . Other Revenue , which includes sales from our webshop and N XT Level nutritional products to retailers, was €11.9 million , - 1.5% year on year (9M 2025: €12.1 million). Franchise update As communicated in earlier press releases, we see great op portunities in building our own franchise platform, leveraging our scale advantages, technologies and knowledge. The franchise business requires limited capital expenditure and opens the possibility of expanding into new countries. We are pleased with the progress we have made in establishing our franchise operations and with the performance of the Clever Fit franchise network acquired in November 2025. We expect to launch our Basic - Fit branded franchise operations before the end of the year, and we see fra nchising as a core growth pillar for the group in the medium - term. Outlook 2026 On the back of continued strong performance in the third quarter, we reiterate our guidance for 2026. We have raised our underlying EBITDA less rent guidance twice this year, from an initial range of between €405 million and €445 million to a range of €430 million to €460 million today, representing an increase of €20 million in the midpoint. We also confirm revenue guidance of between €1.64 billion and €1.69 billion. We already achieved the approx imately 50 net Basic - Fit owned club openings for the full year . The reduced organic expansion capex and improving club profitabi lity will support a significant improvement in positive free cash flow in 2026 and a reduction in our leverage ratio to just over 2.0 times. Our capital - light franchise business continues to gain momentum, as we prepare to launch the Basic - Fit branded proposition, and our financial flexibility continues to support bolt - on M&A opportunities as the European fitness market undergoes consolidation. Longer term, we continue to see significant growth opportunities in Europe’s underpenetrated fitness market. Through our multi - vertical growth strategy, we will capture this growth in a ROCE - enhancing way. - END -
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Basic-Fit Q3 2026 Trading Update 4 FOR MORE INFORMATION Basic - Fit Investor Relations +31 (0)23 302 23 85 investor.relations@basic - fit.com Basic - Fit is listed on Euronext Amsterdam in the Netherlands ISIN: NL0011872650 Symbol: BFIT AUDIO WEBCAST Q3 TRADING UPDATE Date and time: 21 October 2026 at 14:00 CE S T Link to webcast (corporate.basic - fit.com/investors/financial - results) FINANCIAL CALENDAR FY 2026 results 0 9 March 2027 ABOUT BASIC - FIT With 2,246 clubs and over 6 .25 million memberships, Basic - Fit is the largest fitness operator and franchisor in Europe. On a daily basis, members can work on improving their health and fitness in our clubs. Basic - Fit operates a straightforward membership model and offers a high - quality, value - for - money fitness experience that appeals to the fitness needs of all people who care about their personal health and fitness. NOTES TO THE PRESS RELEASE The financials are presented in millions of Euros and all values are rounded to the nearest million unless otherwise stated. Change percentages and totals are calculated before rounding. As a consequence, rounded amounts may not add up to the rounded total in all cases. This press release contains inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation. ALTERNATIVE PERFORMANCE MEASURES The financial information in this report includes non - IFRS financial measures and ratios (e.g. underlying club EBITDA less rent, underlying EBITDA less rent, exceptional items, underlying net result and net debt) that are not recognised as measures of fina ncial performance or liquidity under IFRS. In addition, Basic - Fit discloses certain other operational data, such as the number of clubs, number of members and number of countries in which Basic - Fit is present. The non - IFRS financial measures presented are measures used by management to monitor the underlying performance of the business and operations and, have therefore not been audited or reviewed. Furthermore, they may not be indicative of historical operating results, nor are they meant to be predictive of future results. These non - IFRS measures are presented because they are considered important su pplementary measurements of Basic - Fit’s performance, and we believe that these and similar measures are widely used in the industry in which Basic - Fit operates as a way to evaluate a company’s operating performance and liquidity. Not all companies calculate non - IFRS financial measures in the same manner or on a consistent basis. As a result, these measures and ratios may not be
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Basic-Fit Q3 2026 Trading Update 5 comparable to measures used by other companies under the same or similar names. Term Definition Acquisition capex Cash outflows for the acquisition of businesses or assets, excluding investments in the Company's existing operations Adjusted EBITDA under the bank covenants Underlying EBITDA less rent adjusted for permitted pro forma adjustments, which are capped at 15% of the total adjusted EBITDA ARPU Club revenue divided by average memberships at Basic - Fit branded owned clubs Average maintenance capex per club Total maintenance capex divided by the average number of clubs Club revenue Total of fit ness membership revenue and other club revenue , which includes revenue from personal trainer services, day passes, promotional revenue and rental income from physiotherapists and other third parties EBIT Profit (loss) before interest, taxes and income from associates EBITDA Profit (loss) before interest, taxes, depreciation, amortisation and income from associates EBITDA margin EBITDA as a percentage of total revenue Exceptional items Exceptional items include start - up costs for new countries, costs related to club closures and other costs or profits that are of a one - off nature or do not reflect the normal operations of the business Expansion capex Total expenses of newly built clubs, acquisitions, existing club enlargements and expenses for clubs that are not yet open Franchise revenue Franchise fees received from franchisees, as well as commissions received from third parties regarding products and services delivered by third parties to franchisees Free cash flow Cash generated from operations minus capex (excluding acquisitions), lease and interest payments, adjusted for investments, divestments, and dividends from associates and changes in other financial fixed assets Initial capex newly built club Total expenses newly built clubs divided by the number of newly built clubs Maintenance capex Capex to maintain the club and replace or refurbish the fitness equipment Mature club Club that has been open for 24 months or more at the start of the year Mature club ROIC Underlying club EBITDA less rent of a mature club as a percentage of the initial investment to build a club Net debt Total of long - term and short - term borrowings and IFRS16 lease liabilities, less cash and cash equivalents Net debt (excl. lease liabilities) Total of long - term and short - term borrowings, less cash and cash equivalents Other revenue Revenue from sales via the online stores as well as NXT Level B2B - revenues Overhead Total costs related to local and international headquarters, including all IT development, customer care and marketing Underlying club EBITDA less rent (opened clubs) Club revenue less club costs adjusted for exceptional items and minus invoiced rent costs of clubs Underlying club EBITDA less rent margin Underlying club EBITDA less rent as a percentage of club revenue Underlying EBITDA less rent EBITDA adjusted for exceptional items and minus invoiced rent costs Underlying EBITDA less rent margin Underlying EBITDA less rent as a percentage of total revenue FORWARD - LOOKING STATEMENTS / IMPORTANT NOTICE Some statements in this press release may be considered ‘forward - looking statements’ . By their nature, forward - looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. These forward - looking statements involve known and unknown risks, uncertainties and other fac tors that are outside of our control and impossible to predict and may cause actual results to differ materially from any future results expressed or implied. These forward - looking statements are based on current expectations, estimates, forecasts, analyse s and projections about the industry in which we operate and management's beliefs and assumptions about possible future events. You are cautioned not to put undue reliance on these forward - looking statements, which only express views as at the date of this press release and are neither predictions nor guarantees of possible future events or circumstances. We do not undertake any obligation to release publicly any revisions to these forward - looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities law.