Correction: SATS ASA Q4 2024: Strong financial delivery in Q4 and positive start of the new year

Key highlights from the fourth quarter of 2024:
· Total revenues summed up to NOK 1 311 million and NOK 5 064 million in Q4 2024 and FY 2024 respectively, increasing by 7% in both periods
· EBITDA before IFRS 16 of NOK 175 million in Q4 2024 and NOK 738 million in FY 2024, up 37% and 20% respectively
· EBIT before IFRS 16 increasing by 87% to NOK 125 million in Q4 2024 and 40% to NOK 526 million in FY 2024
· Operating cash flow of NOK 180 million in the quarter and NOK 509 million full year 2024, corresponding to cash conversions of 103% and 68% respectively
· Focused product investments continued to boost activity levels and member loyalty, translating into the strong financial performance
· Financial strength enabling debt reduction of NOK 103 million in Q4 2024 and initiation of the first share buyback program in 2025 of up to NOK 100 million before AGM in April
· Positive momentum from Q4 2024 has carried into early 2025, with elevated activity levels persisting into the first half of Q1
 
“The positive momentum we built throughout 2024 has carried into early 2025, as our investments in product quality and member experience continue to pay off. More active members result in higher yield and member retention, thus strengthening our financial delivery. Strong cash conversion enables us to keep leverage low, initiate share buybacks, pay dividend in Q3 and continue disciplined investments in increased club capacity, product offering and moderate club expansion,” says Sondre Gravir, CEO of SATS.
 
SATS' CEO Sondre Gravir and CFO Cecilie Elde will hold a webcast presentation at 08:30 CET today, February 12, 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_NWY3ODg3NmQtYzMyZC00NTA5LThiNzUtZGUwZTJjNzJjNWY0%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 Q4 2024 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:
Tina Brodal, Press Contact, phone: +47 938 44 171
 
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.