Q4 2025 Sats ASA Earnings Call Transcript

Feb 10, 2026 / 07:30 AM GMT

Release Date Price: kr42.5 (+6.25%)

Transcript

Key Points

Positve

SATS ASA (FRA:2S0) reported a 22,000 increase in its member base, reaching a total of 755,000 members for the year 2025.
The company achieved a 9% increase in total revenues and an 18% rise in EBITDA for the full year 2025.
Q4 2025 saw a significant increase in EBITDA by 28% and EBIT by 34% year on year.
Free cash flow for Q4 2025 was 244 million, up 59% compared to Q4 2024, showcasing strong cash generation.
The board proposed a semiannual dividend of NOK 0.67 per share, reflecting strong shareholder returns.

Negative

The net member change in Q4 was only 1,000, indicating a slowdown in member growth compared to previous quarters.
Operating costs increased by 2% in Q4, driven by investments in group training, which may pressure margins if not managed carefully.
The company anticipates elevated costs in Q1 2026 due to a non-current employee gathering, which could impact short-term profitability.
Expansion efforts are limited, with only one club opened in the quarter and a visible pipeline that remains constrained.
Higher price increases in 2026 are expected to result in lower net growth compared to the extraordinary member growth seen in Q1 2025.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

SATSS.OL - Sats ASA
Q4 2025 Sats ASA Earnings Call
Feb 10, 2026 / 07:30AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning and welcome to the SUTS Q4 2025 presentation. My name is Andre Rave, the CEO of SUTS, and I'm joined today by our CFO Cecilia Elda.

We will host a team's Q&A session at 10 o'clock.

Details and links to the Q&A session are included in this morning's stock exchange announcement.

And with that, let's turn to the highlights of the full year 2025 and the 4th quarter.

For the full year 2025, the member base increased by 22,000 members to 755,000, and visits increased by 6% to 49.4 million visits in total.

This resulted in a strong financial delivery for 2025.

Total revenues increased by 9%, EBITDA by 18%, and EBIT by 24% compared to previous year.

Looking at Q4 specifically,

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