KBC keeps EUR 39.00 target for Basic-Fit stock

Published on 10/05/2026 at 09:23 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

Revenue rose 18 percent to EUR 800.00 million in the first half of 2026. Basic-Fit stock costs EUR 27.95 on October 5, 2026 after EUR 28.57.

Flatlay mit Aktienzertifikat, ISIN-Karte, Trinkflasche und Fitnessband — Flatlay mit Aktienzertifikat, ISIN-Karte und Fitnessutensilien symbolisiert eine Geldanlage in Basic-Fit N.V., ISIN NL0011872650, Illustration mit AI erstellt.

Basic-Fit (ISIN NL0011872650) was trading at EUR 27.95 at Lang & Schwarz on October 5, 2026 at 9:17 a.m. CEST, down 2.17 percent versus the prior close of EUR 28.57. According to IEX on October 2, 2026, KBC Securities repeated its Buy rating and kept its EUR 39.00 price target for Basic-Fit.

Guidance rises on stronger margins

Basic-Fit's operating case is supported by its first-half performance. In the first half of 2026, revenue increased 18 percent to EUR 800.00 million and underlying EBITDA less rent increased 36 percent to EUR 204.00 million, according to Yahoo Finance in the July 28, 2026 earnings call transcript.

Management raised its underlying EBITDA less rent guidance to EUR 430.00 million-EUR 460.00 million from EUR 415.00 million-EUR 455.00 million, while keeping revenue guidance at EUR 1.64 billion-EUR 1.69 billion. The new EBITDA range has a midpoint of EUR 445.00 million, up EUR 10.00 million from the former midpoint.

Cash flow and membership density improve

Free cash flow turned positive at EUR 25.00 million in the first half of 2026, compared with negative EUR 57.00 million in the same period of 2025. The company also ended the period with 6.1 million memberships, up 34 percent year over year, and 2,192 clubs, up 35 percent.

The operating leverage is visible in club productivity: the average number of members per Basic-Fit branded club reached 2,999 in the first half of 2026, up from 2,770 a year earlier. KBC expects 3,050 members per club by the end of 2026, but its October 2 report also identified softer Clever Fit revenue and competitive pressure from digital fitness services as factors to monitor.

Expansion adds a near-term test

Basic-Fit agreed on September 10, 2026 to acquire 26 clubs in Germany and Austria for EUR 26.00 million, according to FinanzNachrichten. The deal adds 46,000 members and is expected to close in the fourth quarter of 2026, giving the group additional scale while requiring rebranding and integration.

The next scheduled milestone is the third-quarter 2026 revenue update on October 21, 2026, according to Ideal Investisseur. Membership growth, club productivity and the contribution from acquired locations will be central figures for that update.

Basic-Fit stock faces a measured test

At EUR 27.95, the Lang & Schwarz quote stood EUR 11.05 below KBC's EUR 39.00 target on October 5, 2026, but the daily move was negative. The combination of higher profitability guidance and integration demands leaves the October revenue update as the next concrete test for the investment case. The further course of trading is shown by the continuously updated real-time quote of Basic-Fit stock.