Q3 2025 Sats ASA Earnings Call (Q&A) Transcript
Key Points
- SATS ASA (FRA:2S0) achieved 8% revenue growth, 17% EBITDA growth, and 31% EBIT growth over the past 12 months, demonstrating strong operational leverage.
- The company reported a 13% increase in EBITDA for the quarter, reaching NOK192 million, indicating solid financial performance.
- Group training has been a significant growth driver, with a 10% increase in the quarter, enhancing member engagement and profitability.
- Sweden's performance improved significantly, with a 19% increase in EBITDA, showcasing successful strategic initiatives.
- SATS ASA (FRA:2S0) maintains a stable leverage ratio of 1.3 times net debt to EBITDA, highlighting financial strength and discipline.
- Operating costs increased by 6% currency adjusted, reflecting higher club activity levels and increased marketing efforts.
- Energy costs were higher than last year, despite hedging agreements, impacting overall cost management.
- The shift in membership mix towards students, seniors, and corporate members softened the average yield.
- The cost level in the quarter was slightly elevated, although year-to-date cost development remained in line with expectations.
- The visible pipeline for new club openings appears limited, although there are strong prospects under evaluation.
Good morning, everyone, and welcome to SATS Q3 2025 Presentation. I'm Sondre Gravir, the CEO of SATS, and I'm joined today by our CFO, Cecilie Elde. We will run a Q&A session in Teams at 10:00 AM today. You can find the link to this Q&A session in the Q3 Stock Exchange announcement published earlier this morning. Let's dive into the third-quarter.
SATS is the leading fitness club operator in the Nordics with a well-established footprint across our key clusters. We ended the quarter with 274 clubs and 756,000 members. Every day, 10,000 passionate SATS employees create exceptional training experiences, driving on average, 118,000 workouts across our clubs daily.
Our financial performance remains solid and consistent. In the past 12 months, we have achieved 8% revenue growth, 17% EBITDA growth and 31% EBIT growth, demonstrating the strong operational leverage in our model.
This quarter confirms that our momentum remains strong, both operationally and financially. What we are seeing now is the benefit of our stable
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