Basic-Fit (BFIT.AS), mcap=€2.5bn, price €37.3 vs. €40.7

Leading gym operator in Europe expected to triple gym count to 3,500 in a decade and compound revenues at >15% CAGR. Low-cost gym model (similar to PLNT, just not franchised) with a strong scale of economics. Attractive unit-level economics with ROIC=30%.