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Fitness chains heavily affected by new lockdown perspectives

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The Basic-Fit fitness chain is suffering greatly from the fact that the French government has announced new lockdown measures. Analysts from ING say that in large French cities about 80 gyms will have to close for two weeks. It is still unclear whether the measures will be extended further.

The experts estimate that the financial impact of the lockdown measures in the major cities amounts to 2 million to 2.5 million euros in lost sales. “But the fear is that this will not be the end of it,” says the market forces. The balance of Basic-Fit looks solid, so that wouldn’t be the problem. However, the debt position could be called into question if the new lockdown took on large proportions and the turnover loss amounted to between EUR 20 million and EUR 25 million.

The Basic-Fit advice remains with ING at buy, with a price target of 30.50 euros. On Thursday the stock market was already down almost 9% due to the fear of a second wave of Coronation and the additional measures. On Friday, the company recorded 0.3 percent in the plus at 20.30 Euros around 10.15.

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