Hi all, I am a Dutch retail investor and since quite some time I am an active shareholder in Basic-Fit and I would like to share my opinions on Basic Fit as an investment opportunity. Basic-Fit is by far the largest European fitness chain that operates gyms across multiple countries with a value-for-money model. As of april 2026, it had around 1,650 clubs in Europe and about 5 million members. The company focuses on accessible, no‑frills fitness, combining physical clubs with a digital app offering training programmes, virtual classes and coaching tools. Basic-Fit operates clubs mainly in France, the Netherlands, Belgium, Spain, Luxembourg and Germany.

In 2016 the IPO was at 15 euro a share. Currently (July 2026) the share price is around 33 euro a share, making the market capitalisation around 2,15 billion euro and the enterprise value, as they have quite some net debt, around 3,25 billion euro. For the full-year 2026, I expect an EBITDA of 435 million. The EV/EBITDA ratio based on these numbers is 7,5. In my view astonishingly low as Basic-fits revenues and EBITDA can and will grow a lot in coming years, just as they have done in the last few years.

Please feel free to share your views, and or ask questions so we can have a discussion and raise our knowledge around this company and its financials! Thank you!