The Board of Directors of SATS ASA (the “Company”, OSE ticker “SATS”) has today approved the annual accounts for 2023.

The Annual Report for 2023 and the annual financial statements in the European Single Electronic Format (ESEF) are attached to this release and available at satsgroup.com. The Sustainability Report for 2023 is included in the Annual Report.

The audited 2023 annual accounts are in line with the annual financial information presented in the fourth quarter report on February 13, 2024.

Financial highlights for the year:

• Total revenues for FY 2023 summed up to NOK 4,734 million, up 16 percent from FY 2022
• FY 2023 EBITDA before IFRS 16 reached NOK 614 million, significantly lifted from NOK 99 million in FY 2022
• Net profit for FY 2023 ended at NOK 224 million, up from negative NOK 246 million in FY 2022
• The member base increased by 10,000 members from year-end 2022, reaching 731,000 members by the end of 2023

The Board of Directors has also, today, resolved to propose that the general meeting grants an authorization to the Board of Directors to increase the share capital of the Company (i) by up to NOK 10,004,448 (2.3%), in connection with the Company’s current and future share incentive programs; and (ii) by up to NOK 86,995,199.90 (20%), in order to finance further growth of the SATS group. The authorizations are proposed valid until the earlier of the 2025 Annual General Meeting and June 30, 2025. The proposed authorizations will be on the agenda for the Company’s annual general meeting, to be held on April 25, 2024. More information will be provided in the notice for the Annual General Meeting.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Jonas Sortland Fougner, Investor Relations, phone: +47 948 05 851

Press:
Tina Brodal, Press Contact, phone: +47 938 44 171
This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.