Professional
Added to YB: 2024-07-25
Pitch date: 2024-07-23
BFIT.AS [bullish]
Basic-Fit N.V.
+37.61%
current return
Author Info
No bio for this author
Company Info
Basic-Fit N.V. operates and franchises fitness clubs under the Basic-Fit brand in the Netherlands, Belgium, Luxembourg, France, Spain, Germany, Austria, Switzerland, Slovenia, Romania, Croatia, and the Czech Republic.
Market Cap
EUR 1.9B
Pitch Price
EUR 21.80
Price Target
56.40 (+88%)
Dividend
N/A
EV/EBITDA
7.80
P/E
133.18
EV/Sales
3.48
Sector
Hotels, Restaurants and Leisure
Category
growth
Buckley Capital New Position: Basic-Fit N.V.
BFIT.AS: Pan-European low-cost gym operator. 50% share drop due to macro headwinds. 8x 2024 FCF, 6.4x 2025 FCF. Bull case: temporary slowdown, 15-18% EBITDA growth potential, low fitness penetration. 1,506 clubs, 19% CAGR since 2016. 45%+ EBITDA margins, 30%+ ROIC for mature clubs. €56.40 PT (200% upside) at 9x FY25 EBITDA. Risks: growth concerns, competition.
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