NEWS
Nordic fitness giant SATS posts robust Q4 figures despite COVID - expects 'successful recovery' at reopening
POSTED 19 Feb 2021 . BY Tom Walker
SATS opened nine new clubs during Q4 2020 – six in the Greater Oslo area in Norway, two in Sweden and one in Finland Credit: SATS
The financial performance of health club operator SATS in the last quarter of 2020 was "dominated by the second wave of club closures", but the company expects to see a "successful recovery" at reopening.

The fitness giant, which operates more than 240 clubs across the Nordic countries (Finland, Sweden, Norway and Denmark), posted total revenues of NOK846 million (€82.5m, £72m) during Q4 2020, compared to NOK 1.36bn (€101m, £89m) in the same period in 2019.

While the figure represents an 18 per cent fall in revenues, the group said it had "sufficient liquidity" to handle a continued volatile environment going forward.

SATS also opened nine new clubs in the quarter, of which six in the Greater Oslo area in Norway, two in the Greater Stockholm area in Sweden and one in Turku in Finland.

The group's member base shrank by 9 per cent during the quarter, when compared to the membership levels of Q4 2019.

Publishing its figures, SATS said that despite the COVID-19 disruption, however, the group remains hugely positive about the future of the sector – and its own outlook.

"We have had strong development in the usage of SATS digital products, and continued expansion of the product portfolio," it said.

"We expect to repeat the successful member base recovery we saw after the first wave of closures, once we are allowed to reopen the currently closed clubs.

"We have had strong visit development when reopening clubs, such as when reopening clubs in Bergen, with visits nearly on par with last year.

"The pandemic has also increased the focus on living a healthy lifestyle, so demand is expected to increase and structural opportunities to arise."

Sondre Gravir, CEO of SATS, added: “We're highly concerned about the level of physical activity, or let’s say inactivity, in the population now that several regions have imposed lock-downs of fitness clubs for longer periods of time.

"We're impressed by our members, who try to find alternative ways of moving and working out, both outdoor and at home, but more than 60 per cent state that they are working out less now than prior to the pandemic.

"Physical activity is more important than ever before, and SATS is here to contribute."
 


CONTACT US

Leisure Media, Portmill House, Portmill Lane,
Hitchin, Hertfordshire SG5 1DJ Tel: +44 (0)1462 431385

©Cybertrek 2021

ABOUT LEISURE MEDIA
LEISURE MEDIA MAGAZINES
LEISURE MEDIA HANDBOOKS
LEISURE MEDIA WEBSITES
LEISURE MEDIA PRODUCT SEARCH
PRINT SUBSCRIPTIONS
FREE DIGITAL SUBSCRIPTIONS
 
Leisure Management - Nordic fitness giant SATS posts robust Q4 figures despite COVID - expects 'successful recovery' at reopening...
28 Feb 2021 Leisure Management: daily news and jobs
 
 
HOME
JOBS
NEWS
FEATURES
PRODUCTS
FREE DIGITAL SUBSCRIPTION
PRINT SUBSCRIPTION
ADVERTISE
CONTACT US
Sign up for FREE ezine
Latest news

19 Feb 2021

Nordic fitness giant SATS posts robust Q4 figures despite COVID - expects 'successful recovery' at reopening
BY Tom Walker

SATS opened nine new clubs during Q4 2020 – six in the Greater Oslo area in Norway, two in Sweden and one in Finland

SATS opened nine new clubs during Q4 2020 – six in the Greater Oslo area in Norway, two in Sweden and one in Finland
photo: SATS

The financial performance of health club operator SATS in the last quarter of 2020 was "dominated by the second wave of club closures", but the company expects to see a "successful recovery" at reopening.

The fitness giant, which operates more than 240 clubs across the Nordic countries (Finland, Sweden, Norway and Denmark), posted total revenues of NOK846 million (€82.5m, £72m) during Q4 2020, compared to NOK 1.36bn (€101m, £89m) in the same period in 2019.

While the figure represents an 18 per cent fall in revenues, the group said it had "sufficient liquidity" to handle a continued volatile environment going forward.

SATS also opened nine new clubs in the quarter, of which six in the Greater Oslo area in Norway, two in the Greater Stockholm area in Sweden and one in Turku in Finland.

The group's member base shrank by 9 per cent during the quarter, when compared to the membership levels of Q4 2019.

Publishing its figures, SATS said that despite the COVID-19 disruption, however, the group remains hugely positive about the future of the sector – and its own outlook.

"We have had strong development in the usage of SATS digital products, and continued expansion of the product portfolio," it said.

"We expect to repeat the successful member base recovery we saw after the first wave of closures, once we are allowed to reopen the currently closed clubs.

"We have had strong visit development when reopening clubs, such as when reopening clubs in Bergen, with visits nearly on par with last year.

"The pandemic has also increased the focus on living a healthy lifestyle, so demand is expected to increase and structural opportunities to arise."

Sondre Gravir, CEO of SATS, added: “We're highly concerned about the level of physical activity, or let’s say inactivity, in the population now that several regions have imposed lock-downs of fitness clubs for longer periods of time.

"We're impressed by our members, who try to find alternative ways of moving and working out, both outdoor and at home, but more than 60 per cent state that they are working out less now than prior to the pandemic.

"Physical activity is more important than ever before, and SATS is here to contribute."



Connect with
Leisure Management
Magazine:
View issue contents
Sign up:
Instant Alerts/zines

Print edition
 

News headlines
400 gyms and leisure centres already lost, further 2,400 at risk without financial support
400 gyms and leisure centres already lost, further 2,400 at risk without financial support   28 Feb 2021

Hundreds of gyms, swimming pools and leisure centres have been forced to close and thousands more are at risk unless they receive urgent, tailored, .... more>>
Planet Fitness CEO Chris Rondeau optimistic over sector's outlook
Planet Fitness CEO Chris Rondeau optimistic over sector's outlook   27 Feb 2021

People placing increased emphasis on their physical fitness, the advances made in digital fitness and the opportunities arising from a reshaped real .... more>>
US Army soldiers to be fitted with wearable fitness tech to assess level of stress
US Army soldiers to be fitted with wearable fitness tech to assess level of stress   26 Feb 2021

US Army paratroopers will be fitted with data-collecting wearables for six months, as part of a project to measure stress levels and examine the .... more>>
Pandemic having 'massive impact' on US attractions – losses estimated at US$23bn
Pandemic having 'massive impact' on US attractions – losses estimated at US$23bn   25 Feb 2021

The pandemic cost the US visitor attractions an estimated US$23bn in economic losses during 2020, while the sector also suffered job losses five times .... more>>
71,000 new health and fitness apps launched in 2020, estimates App Annie report
71,000 new health and fitness apps launched in 2020, estimates App Annie report   25 Feb 2021

Mobile data and analytics provider App Annie has released its State Of Mobile 2021 report, in which the company estimates that more than 71,000 new .... more>>
FIBO 2021 makes one final move to November 2021. Normal service will resume in 2022
FIBO 2021 makes one final move to November 2021. Normal service will resume in 2022   25 Feb 2021

The world's largest fitness trade fair, FIBO, has been rescheduled to November. The event will take place at the Koelnmesse exhibition centre in .... more>>
Company profile


Life Fitness

The Life Fitness family now encompasses Hammer Strength, Cybex, SCIFIT, InMovement and Brunswick Billiards, to offer an industry-leading portfolio of solutions to get the world moving and help people lead active and healthy lives.

View full profile>>

Catalogue gallery


Featured Supplier

Davines Group receives prestigious sustainability award

Davines Group receives prestigious sustainability award

The Davines Group, alongside Davines hair care and Comfort Zone skincare, has been recognised as "Best Performer of the Year" by the prestigious Best Performance Award by SDA Bocconi Management School – one of the most well-respected universities in Italy. More>>




in this issue

• Gyms open, but group exercise fight looms
• ukactive reveals details of new Active Standard
• PureGym 'burning £4m a week' during lockdown



Latest jobs

Jobs Search



Operations Manager
Salary: Competitive
Location: Sutton-in-Ashfield, UK
Company: Everyone Active
General Manager
Salary: Excellent salary plus benefits
Location: Sutton-in-Ashfield, UK
Company: Everyone Active
Lifeguards
Salary: Competitive salary
Location: London, UK
Company: Everyone Active
Diary dates
Powered by leisurediary.com

28 Feb - 02 Mar 2021

World Spa & Wellness Online Conference

Online,



Leisure Management magazine 2018 issue 1
Leisure Management
2018 issue 1

View issue contents
View on turning pages
Download PDF
  Social good: Ivo Gormley
GoodGym founder Ivo Gormley fights back against loneliness in society More>>
  Profile: Stephen Hulme
We look back on the career of Everyone Active CEO Stephen Hulme More>>


Leisure Management magazine 2016 issue 1

Leisure Management
2016 issue 1

View issue contents
View turning pages
Download PDF
  Adult play: Making a big play
LM reports on the emerging trend of adults playing like kids More>>
  Community: Bright Hart Lane
Grant Cornwell on the Tottenham Hotspur Foundation’s community work More>>


Published by The Leisure Media Company Ltd Portmill House, Portmill Lane, Hitchin, Herts SG5 1DJ. Tel: +44 (0)1462 431385 | Contact us | About us | © Cybertrek Ltd