James Wheatcroft, an analyst from Jefferies, maintained the Buy rating on Basic Fit N.V. (0RHD – Research Report). The associated price target remains the same with €33.00.
James Wheatcroft has given his Buy rating due to a combination of factors that highlight Basic Fit N.V.’s positive outlook. The company has maintained its financial guidance for revenue and EBITDA for FY24, suggesting stability and no significant deviations from market expectations. This confidence is further supported by the company’s strong performance during the critical ‘back-to-school’ trading period.
Additionally, Basic Fit’s strategic expansion efforts, marked by a record number of new openings and substantial revenue and membership growth, were pivotal in Wheatcroft’s assessment. The introduction of a new pricing structure in France and the successful integration of acquired clubs in Spain also underscore the company’s growth trajectory. Despite these advancements, the franchise valuation remains relatively low, indicating potential for future appreciation, which further justifies the Buy rating.
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Basic Fit N.V. (0RHD) Company Description:
Basic-Fit NV is in the business of operating fitness clubs. It follows a straightforward membership model with Easy, Smart and Flex formats with different payment options and duration. It is active in the Netherlands, Belgium, Luxembourg, France, and Spain. The company derives the majority of its revenues from membership fees from the Netherlands.
