SATS ASA, is the leading fitness club operator in Scandinavia with a total of 254 clubs and 612,000 members in Norway (110), Sweden (84), Finland (30) and Denmark (30). All clubs of these clubs are currently open, although with COVID-19 restrictions on capacity and operations; restrictions are even stronger than after the re-opening in 2020. The company has increased its growth investments by adding 19 new club openings through 2023. In addition, it is continuing to expand the digital presence, including the launch of Mentra by SATS in Q3, an additional offering for the home training market.

Key highlights from the second quarter of 2021:

• Paying member base increased by 7% in Q2 vs Q1, despite only having operated with the full club portfolio open for one month. Total member base increased to 612,000 at the end of Q2 2021, up from 599,000 at the end of Q1 2021 (+2%)
• Total revenues summing up to NOKm 670 (EURm 64), compared to NOKm 744 (EURm 71) last year (-10%); adjusted EBITDA of negative NOKm 113 (EURm 11), compared to NOKm 38 (EURm 4) last year
• With a liquidity position of NOKm 495 (EURm 47), the Company expects to have sufficient financial liquidity to handle to current regulatory environment, as well as the planned strong growth investments

“We are very happy to see that members are eager to return to our clubs, even stronger than in the re-opening last year. It has also been great to welcome 8,500 colleagues back to their jobs as we opened our clubs. The re-opening has been a success and we are pleased to see strong new membership sales. The megatrend around health and wellness is strong, and we are thus focusing on investing in growth”, comments Sondre Gravir, CEO of SATS.

Source: SATS ASA
Picture: SATS ASA