March 23, 2017 / 7:18 AM / 5 months ago

BRIEF-Basic Fit FY adjusted EBITDA grew by 34 pct to 80 million euros

March 23 (Reuters) - Basic Fit NV:

* FY revenue increased by 28 percent year-on-year to 259 million euros ($279.7 million)

* FY total memberships grew to 1.21 million; increase of 27 percent year-on

* FY net loss 32.4 million euros versus loss of 23.0 million euros year ago

* FY adjusted EBITDA grew by 34 percent year-on-year to 80 million euros

* In 2016 number of clubs grew to 419; increase of 81 clubs of which 48 in France

* Network is expected to grow by around 100 clubs in 2017 and onwards, unchanged target of return on invested capital on mature clubs of at least 30 percent

* Expects net debt to be between 2.5 and 3.0 times adjusted EBITDA at the end of 2017

* Have secured funding for the accelerated growth plan by increasing the revolving credit facility by 75 million euros

* In the medium-term, we expect revenue to grow on average by at least 20 percent a year, with significant operating leverage Source text: bit.ly/2mTakJE Further company coverage: ($1 = 0.9261 euros) (Gdynia Newsroom)

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