Basic Fit : Trading Update Q3 2019

BASIC-FIT IS ON TRACK TO INCREASE ITS NETWORK BY 155 CLUBS IN 2019

Continued strong growth in revenue and memberships

FIRST NINE MONTHS HIGHLIGHTS

Revenue increased by 27% year on year to €371.5 million (YTD 2018: €291.5 million) Number of clubs in the network increased to 752; an increase of 123 clubs year to date and 166 clubs year on year (YTD 2018: 586 clubs)

Number of memberships increased by 20% year on year to 2.13 million (YTD 2018: 1.78 million)

Average revenue per member per month increased by 6% to €20.24 (YTD 2018: €19.14)

REVENUE DEVELOPMENT

Basic-Fit reported revenue of €371.5 million over the first nine months of 2019, an increase of 27% compared to the €291.5 million in the same period in 2018. This is the result of the increases in fitness revenue (up 27% to €361.7 million) and other revenue (up 37% to €9.8 million). The strong fitness revenue growth is explained by a 20% increase in memberships and a 6% increase in average revenue per member per month to €20.24.

Rene Moos, CEO Basic-Fit:

"The revenue growth was very strong in the period, supported by the new membership structure that we introduced at the end of last year. The great value that we offer with our Premium membership is clearly appreciated by our new members. The percentage of joiners that select the Premium membership has further increased to 30%; 14% of our base now has this membership.

We maintained the fast pace of club rollout and the club openings pipeline continues to be well- filled. We are therefore confident that we will grow our network by around 155 clubs this year."

MEMBERSHIP DEVELOPMENT

At the end of the period we had 2.13 million memberships, an increase of 351 thousand memberships compared to a year ago. This number includes 30 thousand memberships from the acquired Fitland clubs.

We have seen continued strong demand for our Premium membership. Now 30% of our joiners select this membership, which has helped the strong yield performance in the period. Premium

members actively utilise the "friend" option of the Premium membership and many Premium

members regularly bring someone along when they exercise at their Basic-Fit club.

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CLUB DEVELOPMENT

In the first nine months of the year, we increased our club network by 123 clubs to 752 clubs. This number includes 30 clubs from the Fitland acquisition in the Netherlands, which we successfully closed at the start of the quarter. At the end of the period we had 330 clubs in France, 198 in the Netherlands, 179 in Belgium, 35 in Spain and 10 in Luxembourg. We are on track to grow our network by around 155 clubs in 2019.

To provide more insight into the different categories of the club openings pipeline we have split the prior In research & negotiation phase into two categories: Contracts being negotiated and Sites being researched. The first category includes sites for which we have a commercial agreement on terms and conditions with the lessor and Management Board approval on the business case. The second category includes all the sites that are being researched by our expansion teams or by the teams at our headquarters. The club openings pipeline remains very strong with 39 clubs under construction and 85 contracts signed. More than 350 clubs are currently in the contract negotiation or research phase.

Club openings pipeline (# clubs)

300

200												> 250
100
		123								100
					85
0					39
		Net openings		Under	Contracts signed	Contracts being	Sites being
			YTD	construction				negotiated	researched

- END -

FOR MORE INFORMATION Richard Piekaar

[phone] [e-mail]

Basic-Fit is listed on Euronext Amsterdam in the Netherlands

ISIN: NL0011872650 Symbol: BFIT

FINANCIAL CALENDAR
Basic-Fit Investor Day	7 November 2019
Full Year 2019 results	11 March 2020
Q1 2020 trading update	22 April 2020
AGM	22 April 2020

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ABOUT BASIC-FIT

With more than 750 clubs, Basic-Fit is the largest and fastest growing fitness operator in Europe. We operate in five countries and in our clubs more than 2 million members can work on improving their health and fitness. Basic-Fit operates a straightforward membership model and offers a high-quality,value-for-money fitness experience that appeals to the fitness needs of all active people who care about their personal health and fitness.

FORWARD-LOOKING STATEMENTS / IMPORTANT NOTICE

Some statements in this press release may be considered 'forward-looking statements'. By their nature, forward-looking statements involve risk and uncertainty because they relate to events and depend on circumstances that may occur in the future. These forward-looking statements involve known and unknown risks, uncertainties and other factors that are outside of our control and impossible to predict and may cause actual results to differ materially from any future results expressed or implied. These forward-looking statements are based on current expectations, estimates, forecasts, analyses and projections about the industry in which we operate and management's beliefs and assumptions about possible future events. You are cautioned not to put undue reliance on these forward-looking statements, which only express views as at the date of this press release and are neither predictions nor guarantees of possible future events or circumstances. We do not undertake any obligation to release publicly any revisions to these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect the occurrence of unanticipated events, except as may be required under applicable securities law.

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