INVESTOR DAY REDOUANE ZEKKRI - Start the presentation - Basic-Fit
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INVESTOR DAY REDOUANE ZEKKRI 4 November 2021 Start the presentation
2
WITH FAVOURABLE CONDITIONS TO
AT LEAST TRIPLE IN SIZE BY 2030
Market leader in Benelux and France.
Become market leader in 2022 in Spain.
Potential, strategy, financing & teams are
all aligned to open 200 to 300 new clubs per
year.
3
FITNESS OUR VALUE TAPPING INTO READY TO FAVOURABLE
PENETRATION FOR MONEY NEW WHITE SEIZE THE COMPETITIVE
EXPECTED PROPOSITION SPOTS FOR GROWTH LANDSCAPE
TO RISE IS ATTRACTIVE OUR NEXT OPPORTUNITY IN OUR
IN ALL CLUBS IN SPAIN MARKETS
MARKETS
4
FROM INCREASE IN PENETRATION
360K 2013 2019 2030
25 FITNESS
MEMBERS
19.2
1.4M 21,2%
20 FITNESS
MEMBERS
17.4 1.8M USA
16.2
PENETRATION RATE
FITNESS
247K MEMBERS
FITNESS 14.7 + 3.8
15 MEMBERS
11.9 MILLION
11.7
FITNESS
10.0
10 9.2 9.7 MEMBERS
7.7 7.4 BY 2030?
6.2
5
0
NETHERLANDS BELGIUM FRANCE SPAIN
Sources: European Health & Fitness Markets Report 2013, 2018, 2019, 2020 & 2021 (Deloitte/EuropeActive), United Nations World Population Prospects (2019) FR 67M / BE 11M / NL 17M / ES 47M5
AND HOW WE WILL REAP THE BENEFITS
Young generations are Increase our
COVID increases
more focused on expansion speed to
health awareness capture market share
their body image
50% of new members are first 65 million inhabitants in small Focus on
timers & our accelerated roll- cities (6
PERFECT POSITION TO CAPTURE MORE MARKET SHARE
44% 38%
60 60
40
€ 38.60 40 € 34.70
20
€ 19.99 20
€ 19.99
0 0
Average gross Basic-Fit Average gross Basic-Fit
monthly membership fee 4 weeks membership fee monthly membership fee 4 weeks membership fee
43% 45%
60 60
€ 37.90 € 39.10
40 40
20
€ 19.99 20
€ 19.99
0 0
Average gross Basic-Fit Average gross Basic-Fit
monthly membership fee 4 weeks membership fee monthly membership fee 4 weeks membership fee
Sources: OC&C Market Report, Deloitte and EuropeActive – European Health & Fitness Market Report 2015 and 2016, IHRSA, company Information
(a) Based on OC&C Market Report and company information
(b) Based on Deloitte and EuropeActive - European Health & Fitness Market Report 20167
REGIONAL CLUBS & ILE-DE-FRANCE ARE BIG OPPORTUNITIES
2,5 x SMALLER
90 CLUBS vs 205-300 CLUBS
12,278,000
5,324,125 6,107,618
12,847,000 38,652,000
inhabitants reached inhabitants not reached
13,068,740 4,086,144
28,860,248 18,570,7528
TO DETERMINE CATCHMENT AREA & MOST PROFITABLE CONCEPT
ISOLATED
SMALL CITIES
LOCAL YES ALREADY TESTED
INTELLIGENCE STANDARD IN MANY CITIES
(Regional CLUB
coverage)
SMALL
CITIES CLOSE 30% ROIC
TO MID-SIZE BUSINESS
CITIES CASE
NO CMD 2019 EXAMPLE
10 CITIES
TECHNOLOGY 11.4K INHABITANTS
(Business control EXPRESS 3,000 MEMBERS
SMALL CITIES analysis) CLUB 26% PENETRATION
CLOSE TO
BIG CITIES9
VISIBLY SHIFTING FOCUS TO SMALLER CITIES
TYPE OF CITY IN INHABITANTS
CLUBS OPENED
CLUBS PLANNED
45
Close to mid-
103 size city
MORE
86 (30k - 100k)
THAN
30K
282 LESS 27
72 THAN
30K LESS
THAN
Close to 30K
big city 100%
LESS (>100k) 23 61 ISOLATED
THAN
30K
* Data is based on summer 202110
WITHOUT CANNIBALISATION
CITY INHABITANTS BF BASIC-FIT VISITS / CLUB ROIC IN
CLUBS MEMBERS VS NATIONAL CLUSTER**
& MEMBERS VISITS**
PER CLUB*
Cluster:
46 148,783 327 / day
CITY 1 1.200.000 34%
CLUBS 3,234 National:
322 / day
Cluster: Theoretical approach
16 49,133 357 / day Operational Better lease
- 1 club per 30K
CITY 2 530,000 31.7% inhabitants
advantages negotiation position
CLUBS 3,071 National:
322 / day
* due to COVID effects data is based on 02/2020 Simultaneous fit-out of Optimally set to Quarterly monitoring
** due to COVID effects data is based on 2020 - only clubs taken into account that were already open cluster clubs capture market share to update strategy
on 01/01/201911
WITH ORGANIC GROWTH
STRONG Highly fragmented market with no market leader
120
CLUSTER IN Competition highly impacted by COVID (and not expanding fast)
MADRID
Strategy launched to become national market leader in 2022
100 FOOTPRINT IN
100 Regional specificities learned & 8 building partners in place
12 OTHER BIG
CITIES Plan based on organic growth but open to interesting acquisitions
80
FAVOURABLE Only 12.6% of the country is inhabited
DEMOGRAPHICS (NL 81,6% / BE 82,5% / FR 58,4%)
60 54 LOCAL TEAM Support from international team and French team
READY FOR Strong local team with many colleagues
GROWTH with more than 10 years experience
40
26
20 RIGHT TIMING Great pipeline visibility to expand fast
TO EXPAND Strong competitive position in our other markets > more focus
FASTER Right timing to reach the 2,000 clubs group target by 2025
0
03/2016 11/2021 12/2022THE FITNESS LEADER IN 4 COUNTRIES & SPAIN TO FOLLOW BY 2022
2020 club count per country
447 211 193 80
Basic-Fit 400 Basic-Fit 119 Basic-Fit 24 Altafit* 53
L’Orange SportCity/ VivaGym
Jims Fitness
260
Bleue*
107 Fit for Free
17 44
Group
Keep Cool* 224 Anytime
Fitness* 30 Sport Oase 13 Basic-Fit 41
Fitness Park Anytime Anytime
LACO
Group* Fitness* Fitness*
91 21 12 39
L’Appart
Fitness* 78 Magic Form* Big Gym 19 Optisport Oxygen
Fitness 11 Life Style Fitness RSG Group 31 DiR / BDiR*
Gigafit* 61 53 Elancia *
Trainmore 18 7 Club Pelikaan
i-fitness 9
Liberty Gym* 52 31 Neoness
David Lloyd Leisure 6 6 Health City
Number 1 Number 1 Number 1 NUMBER 3 but market
leader in 2022
520 BF clubs 216 BF clubs 205 BF clubs 54 BF clubs
(October 2021) (October 2021) (October 2021) (October 2021)
* fully or partly a franchise operation + 10 BF clubs in
Source: Deloitte & EuropeActive – European Health & Fitness Market Report 2021
LuxembourgOUTPERFORMING THE MARKET IN NET GROWTH (+121 VS +33)
2020 club net growth per country
447
+90 +12 +11 +13
Basic-Fit 400
+5 Basic-Fit +2 Basic-Fit = Altafit* +4
L’Orange SportCity/ VivaGym
Jims Fitness
260
-3
Bleue*
+15 Fit for Free
-= +8 Group
Keep Cool* +10
224 Anytime
Fitness* = Sport Oase +1 -18
Fitness Park Anytime Basic-Fit Anytime
LACO
Group* Fitness* Fitness*
91
+2 +3 -2 +4
L’Appart
Fitness* 78
+4 Magic Form* Big Gym = Optisport Oxygen
Fitness = Life Style Fitness RSG Group +7 DiR / BDiR*
Gigafit*
= 53
61 +4 Elancia *
Trainmore +4 = Club Pelikaan
i-fitness =
Liberty Gym* 52
-7 31 David Lloyd Leisure -1 -3
-2 Neoness Health City
Basic-Fit + 90 clubs Basic-Fit + 12 clubs Basic-Fit + 11 clubs Basic-Fit + 8 clubs
9 competitors + 4 clubs 9 competitors + 20 clubs 9 competitors - 1 club 9 competitors + 10 clubs
* fully or partly a franchise operation
Source: Deloitte & EuropeActive – European Health & Fitness Market Report 2020 & 202114
BUT WE HAVE STRONG COMPETITIVE ADVANTAGES
Knowledge of our
Unique organic growth
markets and strong Low break-even point
(& conversion)
local and international & scale advantages
capabilities
teams
No financial limitations Our countries have a low
Strong clusters to be
and accelerated roll-out fitness penetration rate
close to our members
starting from 2022 (huge opportunity)
We keep investing in our
Affordable price makes Operational excellence
clubs & our at-home
us complementary with focus with tailor-made
solutions to further
other concepts automation
improve the service levelSTRATEGY MATCHING FAVOURABLE MARKET CONDITIONS EXECUTION HUGE WHITE FIRST MOVER CLUSTERS & FITNESS CAPABILITIES SPOTS ADVANTAGE €19.99 PENETRATION Continuously In all current Supported by the Are key drivers of Stimulated by health improved to create countries to open speed and quality our accelerated awareness and our competitive profitable clubs of our expansion roll-out ambitions growth strategy advantages process
THANK YOU FOR YOUR
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