ReutersReuters

Gym chain Basic Fit slumps as operational costs dent into outlook

RefinitivLess than 1 min read

** Basic Fit BFIT shares drop close to 15%, to their lowest price in about a year, as the Dutch discount gym chain's outlook misses expectations, following a broadly in-line FY results

** Basic Fit plans to open fewer clubs in 2025, but will keep its French clubs open 24/7 and extend opening hours in Spain and Germany

** It sees 2025 EBITDA of 330-370 million euros, which at midpoint puts it 3% below ING's own expectations and 9% below what it calls an "outdated" consensus

** The extended opening hours costs in 2025 are only partially offset by higher ingrowth of members, ING adds

** The chain's 2024 underlying EBITDA comes in at 313 millions euros, slightly below company-compiled consensus of EUR 316 millions euros

** KBC says it will take some time to rebuild trust after unmet esstimates

** Shares are on track for their worst day in a year, if losses persist

($1 = 0.9163 euros)

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