A record number of new club openings helped low-cost European fitness operator Basic-Fit increase its revenues by 28 per cent to €258.6million (£222.6m, US$278.6m) in 2016 from €202.2m (£174.1m, US$217.9m) the previous year.

In 2016, the operator added 81 clubs to its portfolio, taking its number of gyms to 419. In France, it increased the number of sites by 48 (taking its total to 73), adding 20 in Belgium (159), eight in the Netherlands (148) and five in Spain (31). It did not add any clubs in Luxembourg (8).

Memberships at the operator increased by 27 per cent year on year to 1.21 million.

On a like-for-like basis, revenues rose by 5 per cent to €136m (£117.1m, US$146.5m), with memberships growing 1.3 per cent.

Adjusted EBITDA grew by 34 per cent in 2016 to €80.4m (£69.2m, US$86.6m) from €60.1m (£51.7m, US$64.8m) the previous year.

All countries showed revenue growth, with France achieving an increase of 173 per cent, which was mainly due to its expansion strategy in the country. Revenues in France increased to €25m (£21.5m, US$26.9m) last year, from €9.2m (£7.9m, US$9.9m) in 2015.

The company said there had been a "strong demand for personal trainers and day passes" across all of its sites last year, which helped boost its figures.

Moving forward, the network is expected to grow by around 100 clubs this year. At the end of 2016, 29 gyms were under construction and contracts were signed for 69 clubs. In addition, Basic-Fit is in the research phase or in discussions relating to a further 140 clubs.

The company said: "The vast majority of club openings will be in France where we have the opportunity to secure a sustainable leading position. We will be opening clubs in clusters in more cities and regions across the country, in line with our strategy. We will increase our marketing spend to support the rollout of new clubs with local advertising in the various regions."

The operator, which floated on the Amsterdam Stock Exchange in June, has secured funding for its growth plan by increasing its credit facility by €75m (£64.6m, US$80.8m).

René Moos, Basic-Fit chief executive officer, said: "2016 was the most successful year in the history of Basic-Fit. We grew by a record number of 81 clubs, achieved strong growth of results and had a successful listing on Euronext Amsterdam. And these are just a few of the highlights to underscore what an important year it was for Basic-Fit.
 
"We will increase our investments in innovation in order to further reduce the cost of operations, increase revenue by offering enhanced and new services, and further improve the fitness experience.
 
"In France, Basic-Fit has become the leading non-franchise fitness chain with more than 70 clubs. In the coming years, we will continue to focus on our growth in France to achieve a similar sustainable leading market position as we currently have in the Benelux [Belgium, Netherlands, Luxembourg]."

A typical monthly Basic-Fit subscription costs €19.99 (£17.21, US$21.54) and gives members access to all its clubs in Europe.