Elevate
Elevate
Elevate
Leisure Opportunities
Job search
Job Search
see all jobs
Latest job opportunities
Exeter City Council
£40,221 - £42,403pa + pension + benefits
Exeter
Mount Batten Group
c£65,000pa + pension + benefits
mount batten centre, plymouth
University of Warwick
£29,605 - £32,982pa + pension + benefits
Coventry, West Midlands
Everyone Active
Competitive rates of pay
South Oxhey Leisure Centre, Watford
Harrow School
£13.71 per hour
Harrow, London

Nordic operator, SATS, releases “best financial results ever”

Nordic chain, SATS, releases strong set of year-end financial results
Year-on-year EBITDA have increased by 322 per cent
Policy of cost discipline, product development and deleveraging will continue
Read about CEO Sondre Gravir’s biggest life lessons in an upcoming HCM
Job opportunities
Harrow School
£13.71 per hour
location: Harrow, London, United Kingdom
Exeter City Council
£40,221 - £42,403pa + pension + benefits
location: Exeter, United Kingdom
Active Luton
£61,000 - £64,000 + exceptional pension + excellent benefits
location: Luton, United Kingdom
more jobs
Despite the challenging macro-economic situation people are continuing to invest in their health
– Sondre Gravir, CEO
Credit: SATS

Last year set a new standard for SATS with record-high revenues, less debt and more visits, showing the policy of cost discipline and focusing on existing clubs is paying off.

In a presentation this morning, CEO Sondre Gravir, says the company has enjoyed four consistently improved quarters, with record-high revenues of NOK 1,227 million (£92m, $116.8m, €108.5m) for Q4 2023.

“SATS’ overarching strategy has remained consistent since our Capital Markets Day in Q4 2022, says Gravir. “This involves boosting the utilisation of the existing club portfolio by expanding the membership base, enhancing revenue per member and maintaining strict cost discipline.”

Full-year EBITDA before IFRS 16 grew from NOK 145 million (£10.9m, $13.8m, €12.8m) in 2022, to NOK 614 million (£46.2m, $58.4m, €54.3m) in 2023, an increase of 322 per cent.

Gravir says that despite the challenging macro-economic situation people are continuing to invest in their health and the member base grew by 10,000 to a total of 731,000 across the 276 clubs in Denmark, Norwary, Sweden and Finland.

During 2023 there was only one club launch, as the company made the decision to focus on boosting the performance of existing clubs and reducing debt. Product development has increased member engagement, leading to 8 per cent more visits during Q4 2023 than Q4 2022.

Although there has been less appetite for personal training and retail spend, members have been resilient to the price increases imposed to offset inflation and average revenue per member has increased by 7 per cent.

There were 4.7 million visits to clubs in January 2024, which is 3 per cent higher than January 2022 and 20 per cent more than January 2020.

High-paced deleveraging had led to a reduction of the leveraging ratio from 11.2x net debt to EBITDA before IFRS 16 at the end of 2022 to 2.3x at the end of 2023. The company is aiming for a ratio of 1.5 to 2x, at which point club rollout will recommence.

This year there are plans to open four clubs and close two, while retaining a close focus on cost discipline, improving the product offering to keep members engaged and counteract inflation with price increases.

Gravir, will be sharing his Life Lessons in an upcoming edition of HCM magazine. Sign up here and we'll email you a free digital edition on publication.

Sign up for FREE ezines, news alerts & magazines
Related news

SATS’ CEO Gravir hits brakes on expansion despite record membership levels and income – focus for 2023 will be on 'economic improvements'

15 Feb 2023
Results from SATS' Q4 2022 report show that membership numbers grew to record levels in ...

SATS announces record results – CEO says members are more active than before the pandemic

28 Jul 2022
Scandinavian fitness chain SATS has reported Q2 results showing a 53 per cent increase in ...
Last year set a new standard for SATS with record-high revenues, less debt and more visits, showing the policy of cost discipline and focusing on existing clubs is paying off.
SAR,HAF,FIT,IND,PTS
2024/THUMB352650_156617_845844.jpg

More News

1 - 15 of 67,879
22 Apr 2024
Following three disrupted lockdown years, the European fitness market bounced back in 2023, according to Deloitte and EuropeActive’s hot off the press European Health & ... More
21 Apr 2024
Charitable trust, Mytime Active, has removed all single-use plastic overshoes from its swimming pools and leisure centres, as part of ongoing sustainability efforts. Across the ... More
21 Apr 2024
Community Leisure UK is helping the drive to Net Zero with the launch of a bespoke carbon literacy course. Offered in partnership with the Workers' ... More
20 Apr 2024
Operator Circadian Trust has launched a five-year growth drive designed to support health and wellbeing across South Gloucestershire, UK. The initiative will see a £2.4m ... More
19 Apr 2024
Norwegian health club operator, Treningshelse Holding, which owns the Aktiv365 and Family Sports Club fitness chains, has acquired fellow Norwegian operator, Aktiv Trening. The purchase ... More
19 Apr 2024
The HCM team were busy at the recent FIBO Global Fitness event in Cologne, Germany, distributing a special FIBO edition of HCM in support of ... More
18 Apr 2024
Atlanta-based boutique fitness software company, Xplor Mariana Tek, has kicked off a push for international expansion. Shannon Tracey, VP of sales and marketing, says the ... More
18 Apr 2024
The Global Wellness Institute (GWI) has released new data on the US’ wellness economy, valuing it at US$1.8 trillion. According to the organisation's recent report ... More
18 Apr 2024
The fitness sector’s pivot to active wellbeing is being discussed in a new weekly podcast, called The Conveners, and hosted by chair of GM Active ... More
19 Apr 2024
UK sauna enthusiasts will converge at Galgorm Resort in Northern Ireland next week for the highly anticipated second annual UK Aufguss Championships. Hosted from 22-24, ... More
17 Apr 2024
Remedy Place, a US-based social wellness club brand, is poised for steady expansion in the coming years, with plans to open two new clubs annually ... More
17 Apr 2024
Everyone Active has launched a golfing brand, Everyone Golf, after new contract wins made it the UK’s second-largest golf operator in the UK, with ten ... More
16 Apr 2024
Planet Fitness has a new CEO – Colleen Keating. She will take up the position on 10 June. The announcement follows a search which began ... More
16 Apr 2024
Swiss longevity brand Clinique La Prairie (CLP) has inked a deal with Montara Hospitality Group to operate a resort at Tri Vananda – a purpose-built ... More
16 Apr 2024
UK Active has announced details of its annual health and fitness industry awards ceremony, which will take place in Birmingham on the evening of Thursday ... More
1 - 15 of 67,879
Elevate
Elevate