10/21/2026

speaker
Operator
Conference Operator

Hello and welcome to the Basic Fit Q3 2026 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. 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 over the call to your host for today's conference, Richard Piekaar, Head of Investor Relations. Please go ahead.

speaker
Richard Piekaar
Head of Investor Relations

Well, thank you Lynn and good afternoon and welcome all to our Q3 2026 training update conference call and webcast. With me today are CEO René Moos and CFO Maurice de Kleer. The call is being broadcast live on our website and a recording of the call will be available shortly afterwards. As usual, I would like to point out that safe harbor applies and we will start with René, who will discuss the highlights for the first nine months, including our club and membership development. And this will be followed by a more detailed look at our financial results from Maurice. After the prepared remarks, we will open the call for questions and the call will finish no later than three o'clock. And with that, René, I would like to hand over to you.

speaker
René Moos
Chief Executive Officer

Thank you, Richard, and welcome everyone to today's call. We have delivered another strong quarter and continuing double digit growth across every headline metric. On a group level, including owned and franchise clubs, the club network grew 36% year on year to 2,246 clubs. Our membership base increased by 32% to 6.25 million members. And revenue for the first nine months increased by 18% to 1,217 million euros. The club and membership growth is a result of strong organic growth combined with inorganic growth from acquisitions. Let me show you on the next slide the robust development of the BasicFit branded clubs. Our BasicFit branded owned club network ended the third quarter with 1,711 clubs, up 4% year on year. The number of memberships came in at 5.19 million members, up 10% year on year. The average number of members for Basic Fit Club increased by 6% year-on-year to 3,035. This compares to 2,902 members per club at year-end 2025. So on average, we have added 133 members per club since the start of the year. The growth in members per club drives our organic growth, and it is the key driver of the operating leverage we are seeing in the business. It is also key in achieving our medium term ROKI target of between low to mid teens. We are very pleased to be advancing rapidly towards our target of 3,200 members per Basic Fit Club. Let's continue with a more detailed look at our club network development. At the end of September, the total club network consisted of 2,246 clubs, up from 2,151 at the end of 2025. This is a net increase of 95 clubs in the first nine months of this year. We added 93 owned clubs year to date, which bring the total to 1,809 owned clubs. During the same period, our franchise network increased by two clubs, bringing the total franchise clubs to 437. Most of our own club growth came from Germany, which now includes the acquired clubs from Well You and Kraftwerk, and from organic club openings in Spain. The acquired clubs from Value and Craftwork will be converted to Basic Fit format and reclassified as Basic Fit branded clubs as of January 1, 2027. I'm pleased to report that we already added 51 Basic Fit branded owned clubs this year, reaching our guidance of 50 net Basic Fit owned clubs. Let's now move to the membership development slide. As of the end of the third quarter of 2026, we reached 6.25 million memberships across the group, a 32% increase compared with the same period last year. The membership base of our Basic Fit branded owned clubs increased by 106,000 in Q3 this year. Alongside the ongoing encouraging underlying growth trend, the effect of the September marketing campaign contributed nicely. We continue to see growth in every country in which we operate with yet another strong contribution from France and Spain. We are pleased to see that the average membership per Basic Fit branded owned club has increased to 3,035 members. This is a testament to the high quality of our club network and the strong value proposition and flexibility we provide for our members. Let's move to the next slide. This slide is about the quality of our membership base. Memberships per club is not only about attracting new members. It's just as much about keeping them. Let me start with the length of stay. The average length of stay increased from 21.7 months in 2023 to 23.9 months in 2025. We expect the length of stay in 2026 to be above 24 months. Our investments in the member experience are paying off. Longer opening hours, the 24-7 clubs, the new relax and recovery zones, a better app experience and the new look and feel of our new club layouts. Our members are also using their membership more. Sleeping members, defined as members who have not visited the club in six months, have decreased from 14.9% in the first quarter of 2024 to 11.1% in the third quarter this year. And this is on a rolling 12-month average. Finally, cancellation. Members can cancel their subscription in our app in about 30 seconds. We keep it that simple on purpose. We build trust and it makes members more likely to resubscribe. Together, a long stay and a more active member base support further growth in the average number of memberships per club. With that, I would like to hand over to Maurice, who will take you through our financial results.

Disclaimer

This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

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