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SATS delivers solid membership growth and strong financial results
SATS ASA, the parent company of ELIXIA, presents a strong result for Q3 2023, and people seem to continue to prioritize their own health. The quarter shows both membership and visit growth. The total number of training sessions at SATS' clubs increased by 17% compared to the third quarter of 2022, and the number of participants at SATS' popular group classes increased by 26%.
– Over the past year, we have focused on our core business, by attracting members to our clubs and helping them succeed with their training. We find that members make greater use of our training offering, and the number of training sessions is an important key figure for both SATS and public health, says CEO, Sondre Gravir.
In the past year, SATS/ELIXIA members have contributed over NOK 22 billion in socio-economic welfare gains by investing in their own health. This corresponds to 16,000 quality-adjusted life years (QALYs), which means life years with good quality.
– We want to continue the growth and invest in our existing clubs to make sure that our members get an even better and wider product offering, says Gravir.
Strong financial result
SATS delivered an EBITDA before IFRS 16 of NOK 155 million in the quarter, and NOK 486 million so far this year. The leverage ratio has been significantly reduced from 10.5x to 3.1x from last year.
– Strong revenue growth and good cost control, combined with reduced club expansion, have enabled us to reduce the leverage ratio and improve our financial robustness, says CFO Cecilie Elde.
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We make people healthier and happier!
We have a strong vision to improve people's quality of life and play a significant role for public health in the Nordics.
At our facilities you will find cutting-edge studio facilities for individual training, the broadest selection of group training with superior programming, and highly qualified personal trainers for individual coaching. We also have a strong focus on supporting our members through online training and digital tools for when they are not able to physically visit our club facilities.
SATS group, parent company of ELIXIA, is the leading provider of fitness and training services in the Nordics with 273 clubs in Norway, Sweden, Finland, and Denmark. We have 715 000 members and 9 000 employees who is committed to motivate as many people as possible to an active lifestyle.
