Basic-Fit N.V. : Model update: Outperform reiterated at € 44 TP (from € 45)
>Modest changes to our forecasts for 2023-2025 following the CMD - Following’s Basic-Fit’s CMD in early November, we adjust our estimates for the next three years. For 2023, we slightly increase our forecasts for the number of clubs, memberships and revenue. Following management’s guidance for underlying EBITDA of € 260m for 2023, we adjust our forecast accordingly, lowering it from € 267m previously. For 2024 and 2025, we increase our forecasts for most key items. We...Basic-Fit NV is an operator of fitness centers based in the Netherlands. The Company operates more than 350 fitness clubs in the Netherlands, Belgium, France and Spain.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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