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Key highlights from the second quarter of 2024:
- Second quarter total revenues of NOK 1,266 million, up 5 percent from Q2
2023, driven by yield increase as a result of product improvements and price
adjustments
- Second quarter EBITDA before IFRS 16 of NOK 219 million, up 13 percent from
Q2 2023, resulting in a Q2 EBITDA margin of 17 percent, 1 p.p. higher than
in Q2 2023
- EBIT of NOK 159 million and net profit of NOK 103 million, up 13 and 9
percent, respectively, compared to Q2 2023
- Operating cash flow of 154 million and cash conversion of 70 percent
- Continued deleveraging at a high pace, reporting a leverage ratio of 1.7x
net debt to EBITDA before IFRS 16, compared to 4.7x at Q2 2023
- The total number of workouts at SATS’ clubs increased by 8 percent from Q2
2023, reaching 11 million workouts
- The average revenue per member (ARPM) increased by 5 percent compared to the
same quarter last year to NOK 580
- The member base increased by 4,000 members from Q2 2023, reaching 719,000
members
- Intend to distribute at least 50 percent of net profit as a combination of
share buybacks and semi-annual dividends. First dividend payment will be
made after H1 2025, share buyback will be initiated earlier
“We are proud to present record-high levels of workouts and financial results
for the sixth quarter in a row. The financial improvement over the past few
years is a result of strategic and continued investments in our product
offering. Our current financial position enables us to balance continued
investments in our club portfolio, expansion and at the same time starting
with dividend payments and share buybacks. We are eager to continue our
current momentum,” says Sondre Gravir, CEO of SATS.
SATS’ CEO Sondre Gravir and CFO Cecilie Elde will hold a webcast presentation
at 08:30 CET today, August 22, 2024. The presentation will be held as a
webcast only, available both at Reports & Presentations - SATS Group
and https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20240821_14
There will be a Q&A for investors and analysts from 10:00 to 10:30 (CET) over
Microsoft Teams:
https://teams.microsoft.com/l/meetup-join/19%3Ameeting_OTEzNzIwNTgtZTlkMS00NThiLWFmYWMtYTM1MTlkYTcxNmY0%40thread.v2/0?context={"Tid"%3A"b15a587d-acc9-4644-aa51-b56dee85c304"%2C"Oid"%3A"b58d8c1a-f3d6-4573-9f9c-efcf558ad9dd"}
Please find enclosed the Q2 2024 presentation and report.
Investor Relations Contacts:
Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195
Jonas Sortland Fougner, Investor Relations, phone: +47 948 05 851
Press:
Tina Brodal, Press Contact, phone: +47 938 44 171
Please see the attached quarterly report for definitions and reconciliations
of the Alternative Performance Measures (APMs).
The stock exchange announcement was published by Jonas Sortland Fougner,
Interim IR Manager of SATS ASA. This information is information that SATS ASA
is obliged to make public pursuant to the EU Market Abuse Regulation. The
information was submitted for publication, through the agency of the contact
persons set out above, at 2024-08-22 07:00 CET.
Kilde
