Basic-Fit on Wednesday published its full-year 2025 results, producing figures that tracked closely with the trading update it issued in January and prompting a 2.2% rise in its share price. The budget gym operator reported €1,420 million of revenue for fiscal 2025, a 17% increase from the prior year and slightly ahead of the €1,415 million cited in its post-close update.
EBITDA for the year reached €348 million, up 11% versus 2024 and marginally higher than the €344 million reported in the trading update. The company continued to expand its footprint, adding 85 new locations over the year - a 5% increase that brought the total network to 1,660 gyms.
Membership growth remained a key driver of top-line expansion. Basic-Fit ended fiscal 2025 with 4.82 million members, a 13% increase year-over-year. The company said membership momentum has continued into the early weeks of fiscal 2026, adding another 200,000 members, which it framed as a 4% increase.
Looking ahead, Basic-Fit reiterated its fiscal 2026 guidance: it expects revenue between €1,640 million and €1,690 million and EBITDA in a range of €405 million to €445 million. The rollout plan for the year assumes the opening of 50 net owned clubs.
On costs and balance-sheet metrics, Basic-Fit reported that it has fixed 75% of its energy expenses for fiscal 2026. Leverage at the close of fiscal 2025 stood at 2.7x, with management expecting leverage to decline to just over 2.0x by the end of fiscal 2026.
Free cash flow for fiscal 2025 was reported at €26 million. The company projects free cash flow will be positive in fiscal 2026 and to show a meaningful year-over-year improvement.
Basic-Fit has scheduled a capital markets day on April 21, where it plans to provide additional information on its medium-term franchise opportunities.
Summary of results and guidance
- Revenue: €1,420 million for fiscal 2025, up 17% and slightly ahead of the January update.
- EBITDA: €348 million, an 11% increase and modestly above the trading-update figure.
- Network: 85 new clubs added; total 1,660 gyms.
- Memberships: 4.82 million at year-end, up 13%; early fiscal 2026 additions of 200,000 members (4%).
- Fiscal 2026 guidance: revenue €1,640-1,690 million; EBITDA €405-445 million; 50 net owned club openings planned.
- Energy hedging: 75% of fiscal 2026 energy costs fixed.
- Leverage: 2.7x at fiscal 2025 close, expected to fall to just over 2.0x by end of fiscal 2026.
- Free cash flow: €26 million in fiscal 2025; expected to be positive and materially improved in fiscal 2026.