SATS ASA – Update #4 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, “SATS ASA – Update #2 on the temporary closure of clubs” on 20 March 2020 and “SATS ASA – Update #3 on the temporary closure of clubs” on 25 March from SATS ASA (“the Company”).
SATS continues to adopt to the situation in each of the four Nordic countries, with differences in the contagion progress and governmental recommendations. The Company is in close dialogue with the health authorities and is following their advices on how to act, balancing the considerations of limiting the contagion on one hand and keeping the Nordic population healthy and happy through physical activity on the other.
On 26 March, SATS reopened the clubs in Sweden successfully and responsibly. The measures taken to handle the reopening in a responsible way, including reduced capacity in group training classes, increased number of outdoor classes and higher cleaning frequency, is well received.
Finland is now also making progress in its fight against Corona, and the Ministry of Social Affairs and Health has stated that the epidemic has slowed down significantly. They will now reduce the restrictions in the Helsinki area and the Company has therefore decided to join the other fitness chains in Finland and responsibly reopen on 24 April. SATS will use learning points from the reopening in Sweden to make sure everything is done in a responsible and safe way for both our employees and members.
The governments in Norway and Denmark are still imposing fitness operators to keep closed, but the Company is prepared to reopen as soon as possible. As the largest fitness chain in the Nordic region, SATS wants to continue to play an important role in the public health of the Nordic population. The Company is working closely with relevant industry organizations and health authorities to create an industry standard for how to reopen in a responsible matter.
The focus going forward is to enable training for anyone who wants to exercise – either at one of the open clubs, outdoor with a personal trainer or via the Online Training and the live broadcast training classes that is constantly being developed. Should any member want to exercise at home instead, there is a possibility with SATS. The Company has broadened the digital offering significantly the past few weeks, and it now consists of both online training, audio tracks, live sessions, physiotherapy, personal training and nutrition counselling. The online training offering, which was also available before the closure of clubs, is now extended with a range of workouts, including sessions with equipment, family workouts, office workouts and so on.
The Company will revert to the financial impacts for Q1 as well as the outlook for the coming period in the Q1 presentation on 12 May 2020.
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