Q4 2024 Sats ASA Earnings Call Transcript
Key Points
- SATS ASA (STU:2S0) reported strong financial performance with rolling 12-month revenues exceeding NOK5 billion and EBIT of NOK525 million.
- The company achieved significant revenue growth of 7%, EBTA growth of 37%, and EBIT growth of 87% in Q4 2024.
- SATS ASA (STU:2S0) successfully reduced its debt by NOK103 million in Q4, improving its leverage ratio to 1.4%.
- The company initiated a NOK100 million share buyback program, marking a milestone in its shareholder distribution strategy.
- Investments in product offerings and club upgrades have led to increased member engagement and loyalty, with a 7% increase in workouts and a 15% rise in group training participation.
- Despite strong financial results, SATS ASA (STU:2S0) faced a slight decline in personal training volume, which was only offset by price adjustments.
- The company experienced a 5% increase in its cost base, primarily due to inflation and the development of more group training classes.
- Overhead costs rose by 3% in Q4, remaining flat as a percentage of total revenues.
- SATS ASA (STU:2S0) closed one club in Sweden during the quarter, indicating challenges in optimizing its club portfolio.
- The company anticipates short-term cost increases due to investments in member engagement initiatives, which may impact profitability in the near term.
Good morning, everyone and welcome to the presentation of SATS 2024 4th quarter and full year. I'm Sondre Gravir, the CEO of SATS, and I will present together with CFO, Cecilie Elde.
We will run a Q&A session in Teams at 10:00 today, and you will find the link to this Q&A session in the invitation to this presentation, both at NewsWeb and at satsgroup.com. And I'm excited to take you through the highlights of another strong quarter where we continued to see the benefits of our strategic initiatives. Let's dive into it.
SATS is the leading fitness club operator in the Nordics, with a strong presence in our key clusters with 272 clubs and 733,000 members. Our high-quality clubs combined with a team of 10,000 dedicated employees ensure that we deliver high quality training experiences with close to 130,000 visits on average in our clubs every day throughout the year.
Financially, we continued to demonstrate solid performance with rolling 12-month revenues just north of NOK5 billion and EBIT of knock NOK525 million. These
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