Basic-Fit receives record number of subscriptions | Financial

“It shows that fitness really fulfills a need. People are eager to get active again and work on their health and fitness instead of being locked up,” said CEO René Moos. “We have received a huge number of applications in the last two weeks of May and in June, including from people who have never been to a gym. We see that this trend continues this month, while July is normally the worst month of the year.”

The fitness chain has big plans to expand the number of branches to 1,250 by the end of 2022. Basic-Fit has recently raised almost €500 million through a share issue and the issuance of so-called convertible bonds, which can be exchanged into shares. . In the Netherlands, the company wants to grow to 300 branches in the long term, currently there are 216.

Lockdowns

Basic-Fit has been severely affected by the lockdowns in the Netherlands, Belgium and France. The branches in our country only opened on 19 May, in Belgium and France on 9 June. Visitors first had to adhere to certain measures, but now they can go to the gym again at any time of the day. In Spain, the Basic-Fit branches simply stayed closed and in Luxembourg the closure lasted only a few weeks.

Basic-Fit was hit hard in the first half of the year due to the corona measures and saw turnover decrease to €53 million, from €182.5 million a year earlier. Below the line, there was a net loss of €126 million, compared to a loss of €52 million in the same period last year.

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According to Moos, the lockdown has not been a pleasant time. “As a company you have no income, the fixed costs continue and in the meantime there are another 5000 employees at home. but we are well supported by the banks and our shareholders.”

Positive

The CEO is positive about the second half of the year. ,, Vaccination coverage is going well, so if it stays that way, there is no reason to close gyms. It also depends on how people behave and how the virus develops. We have also taken the necessary measures ourselves by introducing a reservation system so that there are not too many people in one location. We have also adjusted the ventilation and the units are further apart.”

Agreements have been made with the landlords about rent discounts of 50% if the existing branches have to close their doors again. “And a corona clause has been included in the contract for the buildings that are still being built. This means that no rent will be paid if construction is at a standstill,” says Moos.

The quarrel with the two well-known enterprising brothers Loek and Eric Winter about rent arrears has now been resolved. “We got there in a short period of time.”

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