Basic Fit, a Dutch company that operates fitness clubs in five European countries, has reported increases in its turnover and net profits, along with the opening of 47 new gyms in the first six months of 2017. According to its executive director, Rene Moos, Basic Fit expects to inaugurate a total of 100 new fitness clubs this year. The company has no fewer than 466 fitness clubs in the five European countries where it is present: 163 in Belgium, 149 in the Netherlands, 114 in France, 32 in Spain and 8 in Luxemburg. Its membership has been increasing by about 20% per year and now stands at 1.36 million. In Belgium, it has sold a total of 477,000 subscriptions.
The company’s management expects the growth to continue in the coming years, with dozens of new clubs scheduled to be opened in the next few months. This growth is expected to be highest in France, where the group is aiming at a total of 600 fitness halls. The other four countries are also expected to register increases, but the growth will be slower than in France.
Basic Fit’s earnings went up by 25% in the first half of the year compared to the same period of 2016, amounting to 156 million euros. Gross operating profit increased by 23% to 45.5 million euros and the company hopes the increase in the number of its fitness halls will result in higher profits in the second half of the year.
Basic-Fit had suffered a net loss of 26 million euros in 2016, mostly because of the cost of its initial public offering in June of that year. The company has already registered 2.2 million euros in profits this year.
The Brussels Times