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SATS delivers a record operating profit of NOK 614 million in 2023
SATS ASA, the parent company of ELIXIA, today presents financial results for Q4 2023. The company achieved record-high revenues both for Q4 and the full year of 2023, as well as significantly improved profitability.
The total revenues in the fourth quarter of 2023 ended at NOK 1,227 million (+13% compared to the fourth quarter of 2022). For the year as a whole, revenues ended at NOK 4,734 million (+16% compared to 2022).
The growth in income also leads to significantly improved profitability for SATS. EBITDA before IFRS 16 ended at NOK 128 million this quarter, ten times higher than the fourth quarter of 2022. For the year as a whole, EBITDA before IFRS 16 ended at NOK 614 million, up from NOK 145 million in 2022.
– We are pleased to report record-high revenues and improved profitability in the fourth quarter and 2023 overall. SATS is now in a significantly stronger financial position than a year ago. This allows us to increase investment in the product offering to our members, which means that we deliver on our vision of making people healthier and happier, says Sondre Gravir, CEO of SATS.
SATS increases its membership base to 731,000 members, and the members work out more than ever. The total number of workouts at SATS increased by 18 percent in 2023 compared to 2022. In total, 43 million workouts were completed at SATS last year.
– Increased activity levels have a strong positive effect on public health in society. This is a result of the launch of several new products that have become popular among our members, especially in group training. We are excited about what 2024 will bring - it's clear that the fitness enthusiasm in the Nordics is high, says Gravir.
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We make people healthier and happier!
We have a strong vision to improve people's quality of life and play a significant role for public health in the Nordics.
At our facilities you will find cutting-edge studio facilities for individual training, the broadest selection of group training with superior programming, and highly qualified personal trainers for individual coaching. We also have a strong focus on supporting our members through online training and digital tools for when they are not able to physically visit our club facilities.
SATS group, parent company of ELIXIA, is the leading provider of fitness and training services in the Nordics with 276 clubs in Norway, Sweden, Finland, and Denmark. We have 731 000 members and 9 500 employees who is committed to motivate as many people as possible to an active lifestyle.
