Basic-Fit on target to turn France into largest market

12 Aug 2017

Orange banners were hoisted on French gyms more than once per week in the first half of this year, as Basic-Fit is steadily deploying its low-cost concept in France and moving toward its target of at least 100 openings across its five European markets this year.

The Dutch group boasted a membership rise of 22% to 1.36 million members working out at 466 clubs in five countries at the end of June. That's an increase of 47 gyms compared with the start of the year, and 41 of them were opened in France. With 114 clubs at the end of the half-year, the country is well on its way to become the largest market for Basic-Fit in terms of gym numbers.

Pushed up by openings and growing average membership per club, Basic-Fit raised its turnover by 26% to €156 million for the half-year. With an increased yield per member, it managed to uphold its adjusted club operating margin at 43.3%, despite the plentiful openings.

“Basic-Fit had a strong first half of the year in which we delivered on the accelerated growth plans and maintained our high margins,” said René Moos, the company’s chief executive.

Read the full story in FNE#38.

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