Basic-Fit tumbles as higher 24/7 personnel costs hit earnings

Basic-Fit

29/07/2025 08:37

** Shares in gym-chain Basic-Fit BFIT.AS fall 14% after its first-half underlying EBITDA less rent missed expectations on higher personnel costs, despite in-line revenue

** The group reports underlying EBITDA less rent at 149.6 million euros ($172.55 million), below the 157.9 million euros expected by analysts polled by it

** "Basic-Fit misses -5.6% on underlying EBITDA less rent due to higher than expected personnel costs," KBC Securities says

** Personnel costs increased 43% YoY, with the broker noting that the rollout of 24/7 club openings was a key driver of this

** KBC also points to slightly slower than expected membership growth (+40K vs CSS of +50k), although the company reiterated its full-year guidance

** Net debt rose more than forecast as cash flow from operations was insufficient to fund club expansion, KBC adds

($1 = 0.8670 euros)

 (Reponting by Anna Peverieri)

 ((Anna.peverieri@thomsonreuters.com))