Basic-Fit N V Ord

The Basic Fit Q1 Trading Update call will start shortly. Hello and welcome to the Basic Fit Q1 Trading Update. Please note that today's conference is being recorded and for the duration of the call, your lines will be on listen-only mode. However, you will have the opportunity to ask questions at the end of the call. If you require assistance at any point, please call our support number provided in the invite email to you. I will now turn the call over to your host for today's conference, Richard Picard, Head of Investor Relations. Sir, you may begin.

Well, thank you and good afternoon and welcome to everyone to our conference call. With me today are CEO René Moos and CFO Maurice de Kler. In this call, René and Maurice will give a short introduction, after which we will open the floor for questions. This call is being broadcast live on our website and the recording of the call will be available shortly afterwards. And as usual, I would like to point out that safe hardware applies. And with that, I hand it over to you, René.

Thank you. Today we will start by looking at the group highlights from the first quarter of 2026. As a reminder, the group consists of Basic Fit and Clever Fit owned and franchised clubs. We ended the quarter with 2,184 clubs, a 35% increase over the same period last year. Membership increased to 6 million, up from 4.7 million in the first quarter of 2025. Revenue for the group increased by 19% year over year to 396 million euro. All in all, a strong start of the year. Turning now to the basic fit branded business, so excluding clever fit, we grew our club footprint by 28 clubs with the majority of clubs openings in our growth markets of France, Spain and Germany. The number of memberships increased by 215,000 versus 213,000 last year. The in-growth is particularly impressive given that 13 fewer clubs were opened in this quarter versus the first quarter in 2025. In total, Basic Fit increased its memberships by 13% to 5 million. We now have an average membership per club of 2,981. an 8% increase year over year. In the first quarter of 2026, Basic Fit revenue increased by 15% to €380 million, driven by very good member ingrowth in our clubs and a solid yield development in the average revenue per Basic Fit member. We are currently the market leader in six out of the 12 countries where we are present. as we just saw on the previous slides we opened 28 basic fit owned clubs in this quarter and five clever fit franchise clubs let's look first at our own basic fit club openings in total we opened 29 clubs and closed one for a net growth of 28 clubs we opened eight clubs in spain followed by germany and france with seven clubs each Five clubs were opened in Belgium and two clubs were opened in the Netherlands in the first quarter. During the first quarter, we opened five franchise clubs in the German market under the Clever Fit label, bringing the total of franchise clubs in our markets to 440 clubs. Franchising is a key part of how we see Basic Fit's future. In the coming period, we will introduce BasicFit branded franchise clubs alongside the existing CleverFit franchise. The first CleverFit franchise is expected to be rebranded to BasicFit in the second quarter. The aim is to reach critical mass of 200 BasicFit clubs in Germany in 2027, which will allow us to start nationwide marketing campaigns. We continue to see strong interest in both the basic fit and clever fit brands in the DACH region. Next to franchise opportunities in Germany, we have also reviewed the opportunities that exist in the other growth markets. We are considering franchising in France, where we see ample growth opportunities for the franchise business. We expect the contribution of franchise to revenue and underlying EBITDA less rent to be limited in the near term, as it will take time for franchise club growth to reach a meaningful scale. Let's now turn it over to Maurice.