SATS 🏃

TekBot · mars 31, 2021, 1:16pm

SATS ASA: Temporary closure of 22 clubs in Finland

Regional authorities in Southern Finland have today decided to bring into force a new section from the infection disease law, including an imposed lock-down of all fitness clubs. ELIXIA Finland, a part of SATS ASA (“SATS”), is in close dialogue with the authorities, following their advice on how to act and is thus closing 22 clubs in Helsinki temporarily, currently estimated to last from 1 April until 14 April.

SATS is highly concerned about the negative public health effects of closing the fitness clubs. During a normal year, SATS welcomes close to 40 million visits. Experience from previous club closures reveals that a very low share of these exercise hours is replaced by alternative training while gyms are closed, and the inactivity in the population has increased significantly.
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It is safe to visit SATS’ clubs. Good routines in line with the local infection control rules are implemented in all countries, including improved hygiene protocols, increased staffing, guiding of members and reduced group training capacity. There is enough space at fitness clubs to enable social distancing, and there have been very few outbreaks in this industry.

After closing the clubs in Finland, 145 clubs of the total club portfolio of 253 clubs are temporarily closed, of which 22 in Finland, 93 in Norway and 30 in Denmark.

Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Press:
Anne Flæte, Press Contact, phone: +47 932 56 295

Kilde

TekBot · april 9, 2021, 8:50am

SATS ASA: Invitation to presentation of Q1 2021 results

TekBot · april 9, 2021, 10:47am

SATS ASA: Updated revolving credit facility (RCF) agreement

The COVID-19 situation has, also into the first months of 2021, continued to negatively affect the societies in the Nordic countries and set the terms for SATS ASA’s (“the Company”) operations. As per 9 April, 139 of the 253 clubs are closed, of which 27 in Finland, 82 in Norway and 30 in Denmark. The open clubs in Norway, Sweden and Finland are operated with strong infection control measures.

The pandemic and consequent club closures have significant negative financial effects for the Company. SATS has been in close dialogue with the banks throughout the entire pandemic period, and in July 2020, an addendum to the RCF agreement was successfully negotiated.
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As the closures have continued to be prolonged, the Company has now, as a part of the continuous financial planning, signed a new addendum to the RCF agreement with the banks, temporarily waiving the original covenants. New financial covenants will come into force and will be applicable to and including 30 September 2022, subject to voluntary cancellation by SATS at any time. The new financial covenants set out quarterly minimum levels for liquidity and Adjusted EBITDA, with the latter entering into force from Q4 2021. SATS will not distribute any dividend to the shareholders during the amendment period and shall be compliant with the original covenants once the amendment period is expired.

The Company is well positioned for future growth. The megatrend around health and well-being has been strengthened by the pandemic. SATS has accelerated the club expansion with 30 new club openings in 2020 and 2021. The Company expects the member growth to be strong when reopening the currently closed clubs and will return to the healthy financials proven prior to the pandemic once the member base is back to pre-COVID-19 levels. In addition, the Company has proven a very strong digital growth during the past twelve months and has also been accelerating the digital investments in order to further strengthen the product offering.

Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Press:
Anne Flæte, Press Contact, phone: +47 932 56 295

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Stine Klund, Finance and Investor Relations Manager, SATS ASA.

Kilde

TekBot · april 13, 2021, 12:35pm

SATS ASA: SATS publishes Annual Report and Sustainability Report for 2020

TekBot · april 19, 2021, 9:16am

SATS ASA: Notice of annual general meeting 2021

The annual general meeting of SATS ASA (the “Company”) will be held on Tuesday 11 May 2021 at 12:00 (CEST) at the Company’s offices at Nydalsveien 28, 0484 Oslo, Norway.

Due to restrictions caused by COVID-19, the shareholders are encouraged to exercise their shareholder rights without attending in person through advance voting or by providing a proxy to the chairman of the board of directors.
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Please find the following documents attached:
• Notice of annual general meeting
• Guidelines for determination of salary and other remuneration to executive personnel
• The nomination committee’s recommendations to the annual general meeting

The documents are also available on the Company’s website www.satsgroup.com.
The notice will be sent to all shareholders on 19 April 2021.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · april 30, 2021, 5:01am

SATS Q1 2021: Short term set-back – long term opportunities

SATS ASA (“SATS” or the “Company”) leaves behind a first quarter with 40% of the capacity closed, materially affecting both the public health and the short term financial performance. However, the Company has weathered the storm and sees many opportunities going forward.

SATS is increasing the growth pace. The club portfolio will be expanded by 30 new clubs in 2020 and 2021. On the digital side, SATS is launching a new digital home training offering, unlike anything seen in the Nordics before – Mentra by SATS. This product will combine curated and live content with outstanding coaches and community circles, all presented through a fitness mirror.
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Key financial highlights:
• Member base of 599 000 members, down 12% adjusted for club divestment in Denmark
• Total revenues summing up to NOK 605 million, 39% below last year, including governmental supporting packages of NOK 108 million
• Total operating expenses down 25%, as cost reducing initiatives are partly offsetting the revenue loss
• Sufficient liquidity to handle a continued unsecure regulatory environment going forward, with a liquidity position of NOK 778 million, including cash and undrawn revolving credit facility (RCF)
• Short term financial flexibility increased through an addendum to the RCF agreement signed in April, temporarily waiving the original covenants

“For SATS as a company, it has been important to manage the crisis along two tracks. First, we needed to handle the pandemic in the short term. We have changed our operational routines to ensure safe training. We have reduced operational costs. We have activated our members through digital training. But even more importantly, we have been preparing ourselves for the opportunities arising post the pandemic. The megatrend in our society around health and wellness, and the willingness to invest in fitness and personal health, have never been stronger. Hence, we are ramping up our growth investments”, says Sondre Gravir, CEO of SATS.

Please find enclosed the Q1 2021 presentation and report.

Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Press:
Anne Flæte, Press Contact, phone: +47 932 56 295

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

Kilde

TekBot · mai 11, 2021, 10:56am

SATS ASA: Minutes from the Annual General Meeting

TekBot · mai 31, 2021, 4:21pm

SATS ASA - Mandatory notification of trade

TekBot · juni 4, 2021, 2:11pm

SATS ASA - Mandatory notification of trade

TekBot · juni 25, 2021, 12:13pm

Financial calendar

TekBot · juni 29, 2021, 6:49am

SATS ASA: Invitation to presentation of Q2 2021 results

SATS ASA will present its Q2 2021 results on Wednesday, 14 July 2021. The report and presentation will be made available at 07:00 AM (CET) at satsgroup.com and newsweb.no.

Presenters: CEO Sondre Gravir and CFO Cecilie Elde
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Time: 08:30 (CET) on 14 July 2021
Language: English
Venue: The presentation will be held as a webcast available at Quarterly Reports & Presentations | SATS

Q&A: https://teams.microsoft.com/l/meetup-join/19%3Ameeting_YzYyMWEyMDQtMTg4Yy00ZDFkLTllNGMtZjZiZWQ3MzRmYmUx%40thread.v2/0?context={"Tid"%3A"b15a587d-acc9-4644-aa51-b56dee85c304"%2C"Oid"%3A"7c7a4263-6531-4e9f-9f3f-79defb4ad3fe"}

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Kilde

TekBot · juni 29, 2021, 6:57am

Correction SATS ASA: Invitation to presentation of Q2 2021 results

SATS ASA will present its Q2 2021 results on Wednesday, 14 July 2021. The report and presentation will be made available at 07:00 AM (CET) at satsgroup.com and newsweb.no.

Presenters: CEO Sondre Gravir and CFO Cecilie Elde
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Time: 08:30 (CET) on 14 July 2021
Language: English
Venue: The presentation will be held as a webcast available at Quarterly Reports & Presentations | SATS

Q&A from 10:30 to 11:00 (CET) https://teams.microsoft.com/l/meetup-join/19%3Ameeting_YzYyMWEyMDQtMTg4Yy00ZDFkLTllNGMtZjZiZWQ3MzRmYmUx%40thread.v2/0?context={"Tid"%3A"b15a587d-acc9-4644-aa51-b56dee85c304"%2C"Oid"%3A"7c7a4263-6531-4e9f-9f3f-79defb4ad3fe"}

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Kilde

TekBot · juli 14, 2021, 5:00am

SATS Q2 2021: Successful re-opening and strong new membership sales

SATS ASA (“SATS” or the “Company”) leaves behind a second quarter with a solid re-opening as members have returned quickly, coupled with strong new membership sales. During the pandemic, the Company has maintained focus on handling the COVID-19 restrictions, getting back on track, and investing in future growth.

All clubs are currently open, although with COVID-19 restrictions on capacity and operations. Restrictions are even stronger than after the re-opening in 2020. However, the numbers are clear; members are returning even quicker than last time. A higher share of the member base has been re-activated and the visit levels per active member is up to 10% higher than last year. In many clubs, visit levels are already back to the normal pre-pandemic level. In addition, the sale of new memberships is strong, resulting in a 7% increase in the paying member base during the quarter, despite only having operated with the full club portfolio open for one month. The Company expects the positive member development to continue in the months to come.
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SATS has about 40 million club visits in a normal year. Hence, the Company is very well positioned to play an even more important role in lifting public health. SATS aims to contribute more to UN’s SDG 3 target of ‘Good health and well-being’ and WHO’s goal to reduce inactivity by 15% by 2030. Consequently, SATS has increased its growth investments by adding 19 new club openings through 2023. In addition, SATS is continuing to expand the digital presence, including the launch of Mentra by SATS in Q3, an additional offering for the home training market.

Key highlights from the second quarter of 2021:
• Strong visit development after re-opening with increased engagement in the member base compared to the re-opening last year
• Paying member base increased by 7% in Q2 vs Q1, despite only having operated with the full club portfolio open for one month. Total member base increased to 612 000 at the end of Q2 2021, up from 599 000 at the end of Q1 2021 (+2%)
• Total revenues summing up to NOK 670 million, compared to NOK 744 million last year (-10%)
• Adjusted EBITDA of negative NOK 113 million, compared to NOK 38 million last year
• No compensation for fixed costs from the Norwegian government accrued for the period March to June, due to new restrictions in the compensation scheme for applicants part of a corporate group. The estimated compensation for the four-month period would be approximately NOK 70 million if applying for support on entity level as in previous compensation scheme periods
• With a liquidity position of NOK 495 million, the Company has sufficient financial liquidity to handle to current regulatory environment, as well as the planned strong growth investments

“We are very happy to see that members are eager to return to our clubs, even stronger than in the re-opening last year. It has also been great to welcome 8 500 colleagues back to their jobs as we opened our clubs. The re-opening has been a success and we are pleased to see strong new membership sales. The megatrend around health and wellness is strong, and we are thus focusing on investing in growth”, says Sondre Gravir, CEO of SATS.

Please find enclosed the Q2 2021 presentation and report.

Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Stine Klund, Finance and Investor Relations Manager, phone: +47 986 99 259

Press:
Julie Tellugen Hæhre, Press Contact, phone: +47 419 01 011

This information is considered to be inside information pursuant to the EU Market Abuse Regulation, and is subject to the disclosure requirements pursuant to Section 5-12 of the Norwegian Securities Trading Act. The stock exchange announcement was published by Stine Klund, Finance and Investor Relations Manager, SATS ASA.

Kilde

TekBot · oktober 1, 2021, 1:54pm

SATS ASA: Invitation to presentation of Q3 2021 results

SATS ASA will present its Q3 2021 results on Thursday, 11 November 2021. The report and presentation will be made available at 07:00 AM (CET) at satsgroup.com and newsweb.no.

Presenters: CEO Sondre Gravir and CFO Cecilie Elde
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Time: 08:30 (CET) on 11 November 2021
Language: English
Venue: The presentation will be held as a webcast only available at Quarterly Reports & Presentations - SATS

There will be a Q&A for investors and analysts from 10:30 to 11:00 (CET) over Microsoft Teams: https://teams.microsoft.com/l/meetup-join/19%3Ameeting_ZjBkOTAzNjUtMTQyYy00MmU4LWE3YWMtNWE0MjM1YTk4MjZm%40thread.v2/0?context={"Tid"%3A"b15a587d-acc9-4644-aa51-b56dee85c304"%2C"Oid"%3A"c89d1f87-7892-430e-be1b-08d249aa1692"}

The Q&A will also be available through call-in (audio only): +46 8 50521812, phone conference ID 420 338 156#

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Martin Stenshall, acting Finance and Investor Relations Manager, phone: +47 473 38 331

Kilde

TekBot · oktober 5, 2021, 1:37pm

SATS ASA – Mandatory notification of trade

TekBot · november 11, 2021, 12:01pm

SATS ASA: Implementation of New Share Investment Programme for all employees

Oslo, 11 November 2021.

On the basis of the resolution by the general meeting of SATS ASA (the “Company”) on 11 May 2021, all employees of the Company and its subsidiaries (except the executive management) (the “Eligible Employees”) have been invited to participate in a new share investment programme (the “Investment Programme”) for the purpose of seeking to align the interests of the Eligible Employees with those of the shareholders of the Company. The offer under the Investment Programme comprise of up to 2,000,000 new shares to be issued by the Company (the “New Shares”) and allows all of the Eligible Employees to apply for shares in the Company at a discount (the “Offer”).
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Through the Investment Programme, the Eligible Employees will be offered to apply for shares in the Company for a minimum of NOK 5,000 and a maximum of NOK 15,000. In addition, certain key employees and managers of the group will be offered to invest in New Shares for additional amounts. Shares subscribed for such additional amounts will be subject to a lock-up period. The shares will be offered at market price with a discount reflecting the lock-up obligation (based on a Black & Scholes model). The discount given will depend on the length of the lock-up obligation.

The application period for the Offer will commence today, on 11 November 2021 and will expire on 18 November at 10:00 hours (CET) (the “Application Period”). The subscription price for the New Shares will be equal to the volume weighted average share price for the Company’s shares on the Oslo Stock Exchange during the 10 trading days prior to the expiry of the Application Period, less the applicable discount.

More information about the Investment Programme is provided in the notice of the annual general meeting of the Company held on 11 May 2021. The notice is attached to the announcement published by the Company on 19 April and is also available on the Company’s website satsgroup.com.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Martin Stenshall, acting Finance and Investor Relations Manager, phone: +47 473 38 331

Kilde

TekBot · november 16, 2021, 4:25pm

SATS ASA - Mandatory notification of trade

TekBot · november 18, 2021, 12:29pm

SATS ASA: Extension of Application Period for the Share Investment Programme for all employees

TekBot · november 22, 2021, 2:16pm

SATS ASA: Result of New Share Investment Programme for all employees

Oslo, 22 November 2021

Reference is made to the stock exchange notice on 11 November 2021 and 18 November 2021 published by SATS ASA (the “Company”), regarding the implementation of the new share investment programme (the “Investment Programme”)for all employees of the company and its subsidiaries (except the executive management)(the “Eligible Employees”) and extension of the application period under the Investment Programme. The extended application period expired today, on 22 November 2021 at 10:00 CET.
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More than 200 Eligible Employees have applied for a total of 603,649 new shares in the Company by the end of the Application Period. In accordance with the authorisation to increase the share capital by the issuance of new shares granted by the Company’s annual general meeting 11 May 2021, the board of directors have today resolved to increase the share capital in connection with the Company’s Investment Programme minimum NOK 1,000,000 and maximum NOK 1,282,754.125 by the issuance of up to 603,649 new shares. All new shares have been subscribed for by the Eligible Employees who have applied for shares in the Investment Programme. The Company reserves the right to cancel subscriptions by any subscriber if the subscriber fails to make timely payment for the shares to the Company.

The offer price (before discount) for the new shares is NOK 23.4620, which equals the volume weighted average share price for the Company’s shares on the Oslo Stock Exchange during the 10 trading days prior to the expiry of the Application Period. The subscribers will receive a discount of 20% or 15% of the offer price, depending on the length of the lock-up period and the subscription prices for the new shares are hence NOK 18.7696 and NOK 19.9427, respectively.

As part of the Investment Programme, certain key employees may, after the expiration of their respective lock-up period, be awarded additional shares in the Company without consideration (“Matching Shares”) in the ratio of 0.33:1 based on the number of shares originally acquired under the Share Investment Program, subject to certain conditions being fulfilled.

For further information, please contact:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Martin Stenshall, acting Finance and Investor Relations Manager, phone: +47 473 38 331

Kilde

TekBot · desember 13, 2021, 1:52pm

SATS ASA: Registration of new share capital

Oslo, Norway, 13 December 2021: Reference is made to previous stock exchange notices regarding the New Share Investment Program for employees.

Following the deadline for payment of the shares, the number of shares subscribed and paid for is 482,756. The share capital increase pertaining to the issuance of these shares has today been registered with the Norwegian Register of Business Enterprises (Nw. Foretaksregisteret). The Company’s new share capital is NOK 366 023 051,75, comprising in total 172 246 142 shares, each with a nominal value of NOK 2,125.
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The Offer Shares will be listed on the Oslo Stock Exchange from issuance in the Central Securities Depository (VPS) and will be tradeable on or about 15.12.21. 356 735 of the shares will be subject to a lock-up period of 2 or 3 years.

Investor Relations:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Martin Stenshall, Acting Finance and Investor Relations Manager, phone: +47 473 38 331

Kilde