SATS ASA – Update #3 on the temporary closure of clubs
Reference is made to the stock exchange announcements “SATS has decided to temporarily close all clubs” on 12 March 2020, “SATS ASA – Update on the temporary closure of clubs” on 13 March 2020 and “SATS ASA – Update #2 on the temporary closure of clubs” on 20 March 2020 from SATS ASA (“the Company”).
As mentioned in the previous stock exchange release, the situation has developed differently in the four Nordic countries, and the governmental decisions and actions have also been different. The Company is in close dialogue with the health authorities and is following their advice on how to act after these two weeks of closure.
SATS is advised to stay closed by the governments in Norway, Denmark, and Finland. These recommendations are valid until 13 April. The member fee models for the extended period is not yet concluded.
The Swedish authorities, on the other hand, do not advise fitness operators to close down, and SATS has until now been the only major player in the industry with all clubs closed. SATS will therefore, with the support from the Public Health Authority in Sweden, open according to plan on 26 March. There will be taken a series of measures to make sure the opening is handled in a responsible way, including measures to ensure needed distance between people when training, reduced capacity in group training classes, outdoor training for group training and personal training sessions, higher cleaning frequency and closed child care.
SATS has continued the rapid innovation during this extraordinary situation, with the newest launches being online offerings for physiotherapy, personal training and nutrition counselling in selected markets for both members and non-members. Further on, the Online Training offering is being extended with both office workouts and family workouts.
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259
Malin Selander, Head of Communication & PR, phone: +46 70 426 40 06