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Hello and welcome to BasicFIT 2025 Half Year Results Conference Call Level Up Course. Please note that today's conference is being recorded and for the duration of the call, your lines will be unlisteningly. However, you will have the opportunity to ask questions at the end of the call. If you require assistance at any point, please press star zero and you will be connected to an operator. I will now turn the call over to your host for today's conference Richard Pica, Head of Investor Relations. Sir, you may begin.

Thank you, Laura, and good afternoon, and welcome to our conference call and webcast, everyone. With me today are CEO René Moos and our CFO Maurice Declare. The 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 during the first half, followed by a more detailed look at the financial results for Maurice. And after these prepared remarks, we will open the call for questions. The call will finish no later than 3 p.m. And with that, Rene, I would like to hand over to you.

Thank you, Richard, and welcome everyone to today's call. The first half of 2025 has put us well on track to achieve our 2025 targets in all key metrics. Memberships, revenue and underlying EBITDA less rent all increased by either high single or double digit percentages. Year over year, our club network grew by 6%, reflecting the decision to slow down club openings, as was communicated at the time of our full year 2024 results. Even with the planned slowdown, our membership base grew by 10% year-on-year. Revenue and underlying EBITDA less rent are on track to achieve the full-year guided ranges. Our club network saw a 16% increase in revenue, while the underlying EBITDA less rent saw an 8% increase. Maurice will discuss this more in depth in the financial section. Let's go to the next slide on club openings. Let's take a look at our latest club expansion figures. As we announced at our full year results, we have taken the decision to slow down club openings over the 2025 and 2026 period to focus on improving our balance sheet and lowering our net leverage ratio. It also allowed us to start a 40 million share repurchase program. At the end of June 2025, we have 1,628 clubs in our network, up from 1,537 clubs in the first half of 2024, a 6% increase. During the first half of 2025, we opened 57 clubs in our markets and closed four, resulting in a net increase of 53 clubs. The concentration of new club openings was in our growth countries, France, Spain and Germany. In France, we further strengthened our market leadership with a net club growth of 25 to 883 clubs. Shifting our focus towards Spain, which has been a major growth driver, we achieved a net club growth of 14, bringing our total in Spain to 223 clubs. In Germany, we expanded our presence with 10 new club openings, bringing our total to 38 clubs. As we are all well underway to achieve the targeted 100 club openings in 2025, we remain the fastest growing fitness operator in Europe and continue to fulfill our mission by making fitness accessible to even more people across the continent. Let's now look at the membership development slide. We continue to see strong momentum in our membership growth. As of June 30, we reached 4.51 million memberships, reflecting a 10% year over year increase. Growth was recorded across all countries, with particularly strong performances seen in France and Spain, increasing our membership base by 256,000 in the first half. During the same period last year, we saw an increase of our membership base to 288,000, but please remember that this includes our acquisition of RSG Group Spain. So if you look at the pure organic number, it was approximately 177,000. We can see that we had a 45% higher membership ingrowth than the first half of 2024. In the first half of this year, our average yield increased to 24.73 euro, representing a 4% increase year over year. The new membership structure that we introduced at the end of last year will continue to support our yield per member development and having no negative impact on our journal numbers. Then going to the next slide. We saw joint trends further improve in France during the first half of the year on the back of the operational improvement steps we took in 2024. As a reminder, in 2024, we implemented a new management structure separating responsibilities for club expansion and club operation and divided the country into separate regions. Each region is now being overseen by its own dedicated business manager. As a result of these operational adjustments, we saw the quality of service in our clubs improve and ratings from our members increase. In the first half of 2025, we saw an average Google rating of 4.4 versus a rating of 4.0 for the year 2024 and 3.8 for the full year 2023. Moreover, the ingrowth of new clubs was tracking very positively with ingrowth outperforming that of the clubs that we opened in 24, which was already better than that of 2023. The operational improvement in France has translated into increased memberships per club. We remain committed to France and we anticipate more members joining our club network in the second half of the year. as we continue to execute on operational improvements. Let's have a closer look now at the longer term developments of our most important KPIs. Since our IPO, we have consistently delivered strong growth across all key performance indicators, achieving double digit compound annual growth rates. Drilling down into the numbers of clubs and growth of membership, we see a solid 70% CAGR. Our two bottom graphs, revenue and underlying EBITDA, less rent, illustrate that we are continuing the strong growth trajectories in 2025 of two of our main metrics. The strategy update we announced at four-year results has been designed to reinforce sustainable long-term growth on the foundation for solid financial position, while increasing profitability and ultimately allowing us to continue building on our success in Europe. And finally, let's look at our 2025 guidance. At our four-year results, we updated our strategy and gave an outlook, replacing the guidance set at our Capital Market Day in 2023. I'd like to confirm those guidance right now. As of the first half of 2025, we opened net 53 clubs and continue to foresee approximately 100 club openings before year-end, further strengthening our leadership in the European fitness space. With operational improvements made or in progress, we remain on track to meet the revenue guidance of between €1.375 billion to €1.425 billion. We are also on track to meet underlying EBITDA less rent guidance of 330 to 370 million euro. Furthermore, we expect to be cash flow positive in 2025. In the first quarter of 2025, we began a 40 million euro share buyback program, which is ongoing and is enabling shareholder returns. We see great opportunities in launching our own franchise platform, which can leverage our scale advantages, technology and knowledge. Discussions with potential experienced franchise partners are ongoing, and we are taking the necessary time to ensure well-structured agreements are in place to enable successful launch. We anticipate updating the market on our franchise plans before year-end. Looking at longer-term targets outside the scope of 2025, We are committed to reducing our leverage by two times adjusted EBITDA before year-end 2026. With the expected positive impact of the 24-7 rollout outside of the Benelux countries and adjusted capital allocation in our updated strategy, we feel comfortable about reaching that target. As we know, growth and bringing fitness to everyone is part of the basic fit story. We still expect that in the coming period, we will open and operate more than 3,000 clubs in our existing markets, in addition to a franchise program. In conclusion, as we pursue our updated strategy, we remain, as ever, committed to delivering value to our members, our investors, our employees, and to all stakeholders. And with that, I now hand it over to Maurice for the financial review.