SATS presents strong member growth

• The member base grew by 23 per cent to 687 000 members the last twelve months (+6 per cent excl. Denmark)
• Revenue rose by 25 per cent to NOK 938 million compared to the same period last year (+9 per cent excl. Denmark)
• Adjusted EBITDA before impact of IFRS 16 increased with 2 per cent to NOK 129 million compared to the same period last year (+15 per cent excl. Denmark)

Today SATS reports its first quarterly results as a publicly listed company. This quarter, the Company offered the extensive and high-quality range of training concepts to 687 000 members, which is a 23 per cent increase in the member base the last twelve months and 6 per cent excluding the acquisition of the Danish unit in January 2019.

“I’m very proud to share the result of our third quarter. We continue the positive trend of 2019 with an increased member base and we also see that our members are more active. Our more than 10 000 employees are dedicated to making a positive difference in our members’ lives. This result proves that our work, to inspire our members to a healthier and happier life, pays off”, says Sondre Gravir, CEO of SATS.

The main drivers for the 25 per cent revenue increase to NOK 938 million were the increased member base in combination with several commercial activities such as increased sale of personal training sessions and retail products.

“Health and lifestyle are high on the public agenda, and we are now expanding our member offering with physiotherapy, sports massage and nutrition in selected clubs”, Gravir says.

Adjusted EBITDA before impact of IFRS 16 increased by 2 per cent to NOK 139 million and 21 per cent to NOK 153 million when excluding Denmark. The Danish unit was acquired in January 2019 shows early signs of positive development.

In addition to 39 new clubs in Denmark, SATS has opened five clubs in Norway, three in Sweden and one in Finland the last twelve months, with SATS Lagunen in Bergen as the latest club opening. By the end of Q3 2019, there were in total 248 clubs within SATS. Two new club openings are planned in Q4 and so far SATS has seven signed agreements for 2020 and 2021 in total.

“Our vision is to make people healthier and happier, and to deliver on this, we want to help our members to be active and really use our products. By opening more SATS clubs where people live and work, and by developing our digital training offering, SATS continues to make training more accessible for our members. We expect the positive growth momentum to continue, both in terms of attracting new members and opening more clubs.” Sondre Gravir says.

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:
Malin Selander, Head of Communication & PR, phone: +46 70 426 40 06

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.