Key highlights from the fourth quarter of 2023:
- Q4 2023 total revenues of
NOK 1 227 million, driven by yield increase as a result of product improvements and price adjustments - Q4 2023 EBITDA before IFRS 16 reached
NOK 128 million , up fromNOK 12 million in Q4 2022, resulting in a Q4 EBITDA margin of 10%, 9 p.p. higher than in Q4 2022 - Deleveraging at a high pace, reporting a leverage ratio of 2.3x net debt to EBITDA before IFRS 16, compared to 11.2x at year-end 2022
- The total number of workouts at SATS’ clubs increased by 8% in Q4 2023 compared to Q4 2022, driven by member growth and higher activity per member
- Total revenues for FY 2023 summed up to
NOK 4 734 million, up 11% (curr. adj.) from FY 2022 - FY 2023 EBITDA before IFRS 16 reached
NOK 614 million , significantly lifted fromNOK 145 million in FY 2022, resulting in a FY EBITDA margin of 13%, 9 p.p. higher than in FY 2022 - The average revenue per member (ARPM) increased by 7% (curr. adj.) in FY 2023 compared to FY 2022
- The member base increased by 10 000 members from Q4 2022, reaching 731 000 members by the end of 2023
“We are pleased to report record-high revenues and significantly improved profitability in the fourth quarter. We have executed on our strategic priorities of focusing on our existing portfolio, rapid deleveraging and increasing member activity. SATS is now in a notably improved financial position compared to a year ago, and we still have potential to improve further. We are excited to see what 2024 brings, as we are ready to capitalize on our current momentum,” says Sondre Gravir, CEO of SATS.
SATS’ CEO
There will be a Q&A for investors and analysts from 09:30 to 10:00 (CET) over Microsoft Teams. Please note that the timing of the Q&A session has been adjusted from 10:00 to 09:30:
https://teams.microsoft.com/l/meetup-join/19%3ameeting_MWJkYmJjODctNDc4MS00Y2I2LThmMTQtY2E2ZTgwYzE2MTJi%40thread.v2/0?context=%7b%22Tid%22%3a%22b15a587d-acc9-4644-aa51-b56dee85c304%22%2c%22Oid%22%3a%22b58d8c1a-f3d6-4573-9f9c-efcf558ad9dd%22%7d
Please find enclosed the Q4 2023 presentation and report.
Investor Relations Contacts:
Press:
Please see the attached quarterly report for definitions and reconciliations of the Alternative Performance Measures (APMs).
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