Bifogade filer
SATS ASA Q3 2024 Report
Prenumeration
Beskrivning
| Land | Norge |
|---|---|
| Lista | OB Match |
| Sektor | Sällanköp |
| Industri | Resor & Fritid |
SATS ASA (“the Company”) reports third quarter revenues of NOK 1 194 million, an increase of 8 percent from last year, and again delivered record-high profitability, with an EBITDA before IFRS 16 of NOK 170 million. The strong liquidity position of NOK 1.1 billion and leverage ratio of 1.8x, comfortably within the Company’s target range of 1.5x to 2.0x, provide a solid foundation for continued growth.
The strengthened financial result is driven by an improved product offering and increased activity in the member base. The product offering is improved by both club upgrades and investments in the group training product, facilitating for higher capacity utilization and more active members.
Key highlights from the third quarter of 2024:
- The third quarter total revenues increased by 8 percent (5 percent curr. adj.) to NOK 1 194 million
- Club operating cost increased by 7 percent (4 percent curr. adj.), driven by inflation and additional investments in the product offering
- EBITDA before IFRS 16 of NOK 170 million in the quarter, up 10 percent from Q3 2023, resulting in an EBITDA margin of 14 percent
- EBIT before IFRS 16 of NOK 127 million and net profit of NOK 71 million, up 29 and 127 percent, respectively, compared to Q3 2023
- Operating cash flow of NOK 22 million and cash conversion of 13 percent, negatively affected by timing of payments related to quarterly rent (NOK 85 million)
- Continued investments in the product offering, focusing on upgrading the clubs and further enhancing the group training product
- The average revenue per member (ARPM) increased by 8 percent (5 percent curr. adj.) compared to the same quarter last year, mainly driven by successful pricing initiatives during the past year, enabled by continuous investments in the product offering
- During the same period, the member base has been kept relatively stable, however with members per square meter up 2 percent
"We remain committed to investing in our product offering to deliver the best possible experience for our members. The response has been positive, with third-quarter visits reaching a record high of 10.1 million. This growth is largely driven by the rising popularity of group training, which we have fuelled by expanding our class schedule and launching innovative new group training classes. This quarter, we launched a wellness bundle to address the increasing focus on mental health and stress relief, furthering our commitment to a holistic approach to public health," says Sondre Gravir, CEO of SATS.
SATS' CEO Sondre Gravir and CFO Cecilie Elde will hold a webcast presentation at 08:30 CET today, November 5, 2024. The presentation will be held as a webcast only, available at https://satsgroup.com/reports-presentations/
There will be a Q&A for investors and analysts from 10:00 to 10:30 (CET) over Microsoft Teams: https://teams.microsoft.com/l/meetup-join/19%3ameeting_NjBmZTU3ZjItMTA2OS00NzJhLTk4MjQtYmEzZjE1ZGY1MjIz%40thread.v2/0?context=%7b%22Tid%22%3a%22b15a587d-acc9-4644-aa51-b56dee85c304%22%2c%22Oid%22%3a%227c7a4263-6531-4e9f-9f3f-79defb4ad3fe%22%7d
Please find enclosed the Q3 2024 presentation and report.
Investor Relations Contacts:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Investor Relations, phone: +47 986 99 259
Press Contact:
Tina Brodal, Press Contact, phone: +47 938 44 171
Please see the attached quarterly report for definitions and reconciliations of the Alternative Performance Measures (APMs).
This information is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act.