Basic Fit shares lifted by H1 results

Basic-Fit

25/07/2023 09:42

** Shares in Basic Fit  BFIT.AS  rise around 9% after the
Dutch discount gym chain posted H1 results
    ** The company reported that its H1 underlying EBITDA
increased by 83% to 110 million euros ($121.63 million), while
revenue rose by 41% to 500 million euros
    ** EBITDA came about 10% short of Jefferies' estimate of 119
million euros, but revenue exceeded the brokerage's expectation
by almost 10%
    ** The company reiterated its outlook for 2023, in
particular: revenue of at least 1 billion euros, substantially
higher underlying EBITDA in H2 vs. H1, club network expected to
increase by at least 200 clubs
    ** Jefferies says that investors will likely take comfort
that inflationary cost pressures look to be easing through FY
2024, with the inflated energy cost receding after new supply
contracts are signed
    ** "Our long-term positive view on Basic-Fit is based on a
long-duration, visible, self-funded, high-growth pathway that
should command a premium valuation," Jefferies adds
    ** On track for best day since March 2022
    ** Biggest gainer on Euronext Next 150 Index  .N150 

($1 = 0.9044 euros)

 (Reporting by Michal Aleksandrowicz)
 ((michal.aleksandrowicz@tr.com))