SATS ASA Q3 2025: EBITDA growth of 13% y/y to NOK 192 million, reflecting robust operational leverage and progress in line with our mid-term ambition of NOK 1.1 billion

Key highlights from the third quarter of 2025:
- Total revenues lifted by 8% in Q3 2025 compared to the same quarter last year, ending at NOK 1 293 million
- EBITDA before IFRS 16 of NOK 192 million, up 13% compared to Q3 2024
- EBIT before IFRS 16 of NOK 137 million, up 8% compared to Q3 2024 (18% adjusted for one-off related to extension of depreciation periods for fitness equipment in Q3 2024)
- Operating cash flow of NOK 142 million and a cash conversion of 74% in the quarter
- Leverage remains stable at 1.3x net debt to EBITDA before IFRS 16, despite NOK 127 million in dividends (NOK 0.6 per share) and NOK 40 million in share buybacks in the quarter
- The quarterly performance demonstrates robust operational leverage and progress in line with our mid-term ambition of NOK 1.1 billion
- The activity level continues to rise, with a 7% increase in number of workouts, driven both by the 4%-member growth and higher activity level per member
 
“It is very encouraging to see that we continue to increase member activity and satisfaction across our clubs. The positive trend is driven by both a growing member base and higher workout frequency, particularly within group training, where our consistent investments are clearly paying off. Together with the solid financial performance, this confirms that our strategy is working and that we are building a strong foundation for long-term, profitable growth,” says Sondre Gravir, CEO of SATS.
 
SATS' CEO Sondre Gravir and CFO Cecilie Elde will hold a webcast presentation at 08:30 CEST today, October 28, 2025. The presentation will be held as a webcast only, available at https://satsgroup.com/reports-presentations/
 
There will be a Q&A for investors and analysts from 10:00 to 10:30 (CET) over Microsoft Teams: https://teams.microsoft.com/l/meetup-join/19%3ameeting_YmI2NmNiMjItMmViZi00MzI1LTljNDMtNjhmZDVkZGYxNWEy%40thread.v2/0?context=%7b%22Tid%22%3a%22b15a587d-acc9-4644-aa51-b56dee85c304%22%2c%22Oid%22%3a%227c7a4263-6531-4e9f-9f3f-79defb4ad3fe%22%7d
 
Please find enclosed the Q3 2025 presentation and report.
 
Investor Relations Contacts:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Investor Relations, phone: +47 986 99 259
 
Press Contact:
Magnus Myklebust Krane, Press Contact, phone: +47 976 42 334
 
Please see the attached quarterly report for definitions and reconciliations of the Alternative Performance Measures (APMs). This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.