Professional
Added to YB: 2024-07-25
Pitch date: 2024-07-23
BFIT.AS [bullish]
Basic-Fit N.V.
+28.72%
current return
Author Info
No bio for this author
Company Info
Basic-Fit N.V., together with its subsidiaries, engages in the operation of fitness clubs. It operates clubs under Basic-Fit brand in the Netherlands, Belgium, Luxembourg, Germany, France, and Spain.
Market Cap
EUR 1.9B
Pitch Price
EUR 21.80
Price Target
56.40 (+101%)
Dividend
N/A
EV/EBITDA
8.15
P/E
-458.86
EV/Sales
3.62
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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