Basic-Fit 2022 guidance beats expectations, shares rise

Basic-Fit

04/11/2021 08:32

** Shares in Basic-Fit  BFIT.AS  rise 3.4% after the fitness
operator provided a better-than-expected guidance as it plans to
accelerate the pace of club openings  urn:newsml:reuters.com:*:nFWN2RU27V
    ** The group expects 2022 revenues of EUR 800-850 mln
($925.6-983.5 mln), against EUR 515 mln pre-COVID-19 and EUR 736
mln in consensus, KBC Securities says 
    ** KBC pointed to an "ambitious but achievable" openings
target, given its strong operational track record and a better
financial position over the last year
    ** The company will further accelerate the pace of openings
to between 200 and 300 clubs a year, a step up from 100 to 150
openings over the past five years
    ** "Basic-Fit plans to enter a new country in Q4 2022, which
is a positive as we had not expected a timeline on entering
already," broker ING flags
    ** The stock, which rose as much as 4.9% in early trading,
is up more than 47% year-to-date

($1 = 0.8643 euros)

 (Reporting by Juliette Portala)
 ((juliette.portala@tr.com))