August 11, 2017 / 5:46 AM / 10 days ago

BRIEF-Basic Fit H1 adjusted EBITDA increased by 23 pct to 45.5 million euros

Aug 11 (Reuters) - BASIC FIT NV:

* H1 REVENUE INCREASED BY 26% TO €156 MILLION (H1 2016: €124 MILLION)

* H1 ADJUSTED EBITDA INCREASED BY 23% TO €45.5 MILLION (H1 2016: €37.2 MILLION)

* H1 ADJUSTED NET EARNINGS WERE €10.3 MILLION (H1 2016: €2.7 MILLION)

* 47 NET CLUB OPENINGS YEAR TO DATE, GROWING NETWORK TO 466 CLUBS (UP 11% IN H1 2017 AND 27% YEAR ON YEAR)

* H1 TOTAL NUMBER OF MEMBERSHIPS INCREASED TO 1.36 MILLION (UP 13% IN H1 2017 AND 22% YEAR ON YEAR)

* REMAINS CONFIDENT TO GROW ITS NETWORK BY AROUND 100 CLUBS IN 2017 AND ONWARDS‍​

* MID-TERM OUTLOOK: UNCHANGED TARGET OF RETURN ON INVESTED CAPITAL ON MATURE CLUBS OF AT LEAST 30%

* EXPECTS TO BENEFIT FROM OPERATING LEVERAGE AND ADJUSTED EBITDA GROWTH TO ACCELERATE IN THE SECOND HALF OF 2017‍​ Further company coverage: (Gdynia Newsroom)

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