Basic-Fit restructures its debt. The Dutch chain of gyms has refinanced 650 million debtincreasing its maturity until 2029, and has increased the capital by 150 million euros, as revealed in a statement.
The maturity extension and capital increase process has been carried out through the banking entities Rabobank, ABN AMRO Bank, ING Bank, BNP Paribas and KBC Bank. The total debt has become more expensive by 25 basis points due to generalized inflation in the sector.
The new agreement between the parties consists of a loan maturing in tranches of 250 million euros and 400 million euros corresponding to a revolving credit. The total owed, up to 650 million euros, will mature in 2027with the option to extend the settlement date to 2029.
Also, the new deal includes an additional 150 million euros corresponding to a new revolving credit lineamount that the Dutch chain will be able to dispose of in case of liquidity difficulties.
The total debt has become more expensive by 25 basis points due to generalized inflation in the sector
Chain closed the first quarter of 2023, increasing its business volume by 51%, up to 245 million euros, compared to 162 million euros in the same period of the previous year. The figure also represented a 78% increase in revenue compared to the first three months of 2020, prior to the pandemic.
chain justified the increase in its turnover due to the new openings, the number of partners and the ticket half. In the first quarter of 2023, Basic-Fit opened 68 new gyms, raising its number of centers to 1,268, which means 181 more establishments than in the first quarter of 2022. In addition, the number of members in the period, up to 3.6 million subscribers. He ticket average also increased, going from 21.51 euros to 22.63 euros.
In your business plans, Basic-Fit anticipates revenue of one billion euros at the end of this course, after adding at least two hundred new gyms to its network of centers. Recently, the chain expanded its network in Spain with a new opening in Alicante, located at number 41 Calle Padre Recaredo de los Ríos.
The Dutch chain of gyms is one of the most important in Europe, with a presence in the Netherlands, Belgium, France, Luxembourg and Spain, a market in which it landed in the year 2000 and which places it as one of the forerunners of the low-rise model. cost in the fitness industry.