BSFFF - Basic-Fit N.V. (BSFFF) Q4 2023 Earnings Call Transcript

2024-03-14 13:39:03 ET

Basic-Fit N.V. (BSFFF)

Q4 2023 Results Conference Call

March 14, 2024 9:00 AM ET

Company Participants

Richard Piekaar - Head, IR

René Moos - CEO

Hans van der Aar - CFO

Conference Call Participants

Robert Bosch - ABN AMRO

Hans Pluijgers - Kepler Cheuvreux

Marc Zwartsenburg - ING

Kris Kippers - Degroof Petercam

Tore Fangmann - Berenberg

Presentation

Operator

Hello, and welcome to Basic-Fit Full Year Results 2023 Call. My name is Laura, and I’ll be your cordinator for today’s event. Please note, this call is being recorded and for the duration of the call your lines will be on listen-only. [Operator Instructions].

I will now hand it over to your host, Richard Piekaar, to begin today’s conferrence. Thank you.

Richard Piekaar

Thank you, Laura, and good afternoon and welcome to everyone for this conference call during which we will discuss our results over 2023. With me today are CEO, René Moos; and CFO, Hans van der Aar. This call is being broadcast live on our website and a recording of the call will be available shortly afterwards.

And as usual, I would like to point out that safe harbor applies. We will start now with Rene, who will discuss the highlights and the operational developments followed by a more detailed look at the financial results from Hans. After these prepared remarks, we will open the call for questions. The call will finish no later than 3 o'clock.

With that, René, I would like to hand over to you.

René Moos

Thank you, Richard, and welcome everyone for joining today's call. It's only a short while ago when we last met at our Capital Market Day back in November, but still plenty has happened since. 2023 was an interesting year, as we were confronted with high-cost inflation right at the start of the year, higher rents, wages and especially higher energy prices. To deal with these higher costs, we made changes to our membership structure at the end of 2022 and continued in 2023. This worked out really well for us....

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