Adding 173 clubs to its network in 2024, and with the ambition of 3,000 to 3,500 clubs in existing markets, Basic-Fit is the fastest growing European gym operator.

However, CEO, Rene Moos, has revealed that the company will slow the rate of growth significantly in 2025 and 2026, down to 100 clubs a year, saying: “At the new growth pace, we will remain the fastest growing fitness chain in Europe, while generating a significant amount of cash.

"This more capital-efficient strategy will enable us to reach the below 2x leverage target by 2026, while enabling shareholder returns through the launch of a €40 million share buy-back programme in 2025.

Basic-Fit has struggled to get its share prices to match the quality of its trading, with a puzzling mis-match persisting. It's thought this new approach is an attempt to bring the markets and analysts more on board.

If this doesn't work, there are rumblings in the market about the possibility of Basic-Fit de-listing in order realise its true value.

Last year the company increased revenue by 16 per cent to €1,215 million. Underlying EBITDA less rent increased by 20 per cent to €313 million and net profit was €8 million, compared with minus €2.7 million in 2023.

Memberships increased 12 per cent to 4.25 million. There were 173 new launches, expanding the estate to 1,575. This year has continued in the same vein, with memberships standing at 4.46 million at the end of February: an increase of 202,000.

“Alongside our strong financial performance, we care deeply about delivering measurable social and environmental benefits,” says Moos. “We continuously focus on making fitness accessible to as many people as possible in the most sustainable way. Looking ahead, we remain committed to our long-term vision without compromising on short term results.”

Last year 24/7 staffed club openings were trialed in France, which does not permit unstaffed operations. The positive results led to an expansion to 333 24/7 clubs in France this year. These extended opening hours will also be implemented in Spain and Germany.

“The additional costs of the extended hours (approximately €35 million in 2025) are expected to be offset by increased membership levels at these clubs as of 2026, positioning us even better for sustainable growth,” says Moos. “I have full confidence that by continuously catering to our members' evolving needs and remaining accessible to everyone, we will further strengthen our market leadership and consolidate our position as Europe's strongest fitness brand.”