SATS ASA ("the Company") is hosting its inaugural Capital Markets Day today 28
October 2022 in Oslo, Norway.
The presentation, starting at 09.00, will be held at SATS Colosseum, but will
also be available as a live webcast. The agenda and webcast can be accessed at:
https://satsgroup.com/reports-presentations/capital-markets-day/
The Company's long-term strategy remains, but short-term measures are
implemented to fully recover the member base to pre-pandemic levels and handle
the challenging macroeconomic situation. As of now, SATS does not see any signs
of weaker consumer sentiment but is affected by inflationary pressure in general
and especially the higher energy prices.
The fitness industry does not look fundamentally different than it did prior to
the pandemic. The combination of the increasing focus on living a healthy
lifestyle and SATS' strong position is promising for the road ahead. An
important step in the right direction was made during the third quarter, as the
Company proved its ability to grow the number of members per club, with a net
growth of 36 000 members. The quarter ended with a record high member base of
708 000 members.
In the short term, SATS will prioritize initiatives to grow the member base per
club, as well as counteracting inflation with increased average revenue per
member, cost discipline, and operational leverage.
In the long term, the Company sees many opportunities for continued club rollout
and expansion of adjacent products and services, as well as further increases in
the member base per club beyond pre-pandemic levels. With this, SATS aims to lay
brick-by-brick towards an Adj. EBITDA margin of 20%.
Please find enclosed the Capital Markets Day presentation.
Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259
Press:
Sebastian Kvarme, Press Contact, phone: +47 992 74 471
This information is considered to be inside information pursuant to the EU
Market Abuse Regulation, and is subject to the disclosure requirements pursuant
to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange
announcement was published by Stine Klund, Finance and Investor Relations
Manager, SATS ASA.
