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FIT TECH News

SATS announces record results – CEO says members are more active than before the pandemic

By
The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened, Sondre Gravir, CEO of SATS
Credit: SATS
The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened
– Sondre Gravir, CEO of SATS

Scandinavian fitness chain SATS has reported Q2 results showing a 53 per cent increase in revenue to NOK 1,022m (£85,591,015).

The group’s also demonstrates a strong EBITDA, getting to NOK 83,000,000 (£6,965,182), compared with NOK -113 million (-£9,498,447) in the corresponding quarter last year.

The number of clubs has risen by 13 since last year to 267, while SATS has also seen a 10 per cent growth in its member base, which now stands at 671,000.

“The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened,” said Sondre Gravir, CEO of SATS. "We're proud of our members, who are – on average – more active now than before the pandemic, which shows they're succeeding in their training.

"The number of visits per member is an important key figure for SATS," said Gravir. "It gives a good indication of our contribution to public health, as well as the loyalty of the membership.”

Gravier said that despite the economy slowing and increasing interest rates and inflation he does not see these challenges impacting memberships. “So far, we don’t see members trading down and we actually see lower churn rates than prior to the pandemic,” he said.

He confirmed that the focus going forward is to increase membership and open more clubs. As explained to HCM in an exclusive interview, SATS’ strategy is focused around creating “strong footprints” in each of the four Scandinavian countries where it trades, by creating club clusters that members can access close to home, at work and other key moments in their daily lives.

“This cluster strategy is important because our member value is based on our people using multiple clubs,” said Gravier. “A typical SATS member regularly works out in least at two or three different clubs. In our Stockholm city centre cluster, as an example, that number would be closer to four.

“We want there to be a club close to where you live, a club close to where you work and a club close to where your friends live. We want the barrier to enjoying a great training experience to be low.”

The group’s product offering is distributed across the cluster, so although not every club can provide every type of facility or class (which include group exercise and yoga studios, indoor running area and functional HIIT), a member can access all by using different cluster clubs as part of their monthly membership. However, it is also possible for users who wish to access just one club, or who require a different set-up, to build a more customised membership plan too.

“SATS' full-access membership costs just €60–65 a month, and for that you get access to every one of our premium clubs, including all our classes,” added Gravier. “It’s a pretty low price point compared to the purchasing power of Nordic society and the pricing of other consumer goods.”

SATS was founded 26 years ago and runs operations across Norway, Sweden, Denmark and Finland. In the latter the clubs trade under the Elixia branded (SATS and Elixia merged in 2014 creating the largest fitness chain in the Nordics). The group also operates 38 Fresh Fitness clubs in Norway, and a standalone HiYoga studio in Oslo (other HiYoga studios are ‘club-in-club’).

On 1 July 2022, SATS added a portfolio of seven fitness clubs in southern Norway by acquiring 100 per cent of the shares in Bare Trening Sør AS. As the seven clubs are relatively small compared to the average SATS club they fit into the Fresh Fitness footprint.

In addition to running 267 clubs, SATS offers a digital, at-home fitness service called Mentra, which can be accessed via the website but is also accompanied by the Mentra app (although it's only accessible in the aforementioned countries).

There is also an additional premium offering through the connected Rflex fitness mirror. Hundreds of Rflex mirror workouts are offered, for families as well as athletes, and the range of disciplines includes office stretching, HIIT, strength, yoga, dance and mobility. The mirror is priced at €1,199 (with a 30-day trial period) and users pay a monthly subscription fee (which is discounted for SATS members)to access its content.

Gravier intends to expand this digital service. “Our ambition is to also launch a bike and treadmill for connected home training,” he told HCM. “Across the whole of Europe, as well as in markets like the US, people are now showing they’re willing to invest more and more in living a healthy lifestyle.”

SATS’ full Q2 report can be accessed here.

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In just over two years, the fitness industry has experienced major disruptions to gyms, a boom in at-home fitness and the return of in-person workouts.
EGYM has been pioneering the connected gym floor for more than a decade, partnering with operators and other third-party integrations, to create a free-flowing training environment that places the member at the very centre of the experience.
Perfect Gym currently provides fitness software solutions to customers in 55+ countries, servicing more than ...
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SATS announces record results – CEO says members are more active than before the pandemic

By
The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened, Sondre Gravir, CEO of SATS
Credit: SATS
The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened
– Sondre Gravir, CEO of SATS

Scandinavian fitness chain SATS has reported Q2 results showing a 53 per cent increase in revenue to NOK 1,022m (£85,591,015).

The group’s also demonstrates a strong EBITDA, getting to NOK 83,000,000 (£6,965,182), compared with NOK -113 million (-£9,498,447) in the corresponding quarter last year.

The number of clubs has risen by 13 since last year to 267, while SATS has also seen a 10 per cent growth in its member base, which now stands at 671,000.

“The market for exercise and health is in the process of recovering after the pandemic, and we strongly believe that SATS’ competitiveness has been strengthened,” said Sondre Gravir, CEO of SATS. "We're proud of our members, who are – on average – more active now than before the pandemic, which shows they're succeeding in their training.

"The number of visits per member is an important key figure for SATS," said Gravir. "It gives a good indication of our contribution to public health, as well as the loyalty of the membership.”

Gravier said that despite the economy slowing and increasing interest rates and inflation he does not see these challenges impacting memberships. “So far, we don’t see members trading down and we actually see lower churn rates than prior to the pandemic,” he said.

He confirmed that the focus going forward is to increase membership and open more clubs. As explained to HCM in an exclusive interview, SATS’ strategy is focused around creating “strong footprints” in each of the four Scandinavian countries where it trades, by creating club clusters that members can access close to home, at work and other key moments in their daily lives.

“This cluster strategy is important because our member value is based on our people using multiple clubs,” said Gravier. “A typical SATS member regularly works out in least at two or three different clubs. In our Stockholm city centre cluster, as an example, that number would be closer to four.

“We want there to be a club close to where you live, a club close to where you work and a club close to where your friends live. We want the barrier to enjoying a great training experience to be low.”

The group’s product offering is distributed across the cluster, so although not every club can provide every type of facility or class (which include group exercise and yoga studios, indoor running area and functional HIIT), a member can access all by using different cluster clubs as part of their monthly membership. However, it is also possible for users who wish to access just one club, or who require a different set-up, to build a more customised membership plan too.

“SATS' full-access membership costs just €60–65 a month, and for that you get access to every one of our premium clubs, including all our classes,” added Gravier. “It’s a pretty low price point compared to the purchasing power of Nordic society and the pricing of other consumer goods.”

SATS was founded 26 years ago and runs operations across Norway, Sweden, Denmark and Finland. In the latter the clubs trade under the Elixia branded (SATS and Elixia merged in 2014 creating the largest fitness chain in the Nordics). The group also operates 38 Fresh Fitness clubs in Norway, and a standalone HiYoga studio in Oslo (other HiYoga studios are ‘club-in-club’).

On 1 July 2022, SATS added a portfolio of seven fitness clubs in southern Norway by acquiring 100 per cent of the shares in Bare Trening Sør AS. As the seven clubs are relatively small compared to the average SATS club they fit into the Fresh Fitness footprint.

In addition to running 267 clubs, SATS offers a digital, at-home fitness service called Mentra, which can be accessed via the website but is also accompanied by the Mentra app (although it's only accessible in the aforementioned countries).

There is also an additional premium offering through the connected Rflex fitness mirror. Hundreds of Rflex mirror workouts are offered, for families as well as athletes, and the range of disciplines includes office stretching, HIIT, strength, yoga, dance and mobility. The mirror is priced at €1,199 (with a 30-day trial period) and users pay a monthly subscription fee (which is discounted for SATS members)to access its content.

Gravier intends to expand this digital service. “Our ambition is to also launch a bike and treadmill for connected home training,” he told HCM. “Across the whole of Europe, as well as in markets like the US, people are now showing they’re willing to invest more and more in living a healthy lifestyle.”

SATS’ full Q2 report can be accessed here.

More fit tech news
Peloton is set to axe around 800 jobs, increase the price of its equipment and close some of its retail ...
At-home rower maker Hydrow is one of the latest connected-fitness companies to announce staff cuts. The tech company which won ...
Peter Roberts, former CEO and founder of Pure Gym, has invested in Another Round, a personal training app which utilises ...
Ohm Fitness, a new franchised studio concept, has opened its first location in Scottsdale, Arizona. Delivering small group workouts using ...
A solution dubbed the 'world’s highest quality motion capture system' could help sports scientists, personal trainers and other professionals working ...
Global gym software company ABC Fitness Solutions has entered an agreement to acquire boutique fitness management platform Glofox. The merger ...
Younger men at independent gyms are more likely than any other consumer group to accept increases in their membership fees, ...
More HCM news
Mindbody has announced that Fritz Lanman will become the company’s new CEO from 3 September 2022. He will succeed Josh ...
Nowatch, a new contender in the expanding biometric fitness tracker market has developed a wearable device, in partnership with Philips, ...
Fibr, a new social platform connecting fitness professionals with each other and potential employers has launched. Created by a team ...
Amazon has acquired primary healthcare organisation One Medical in a US$3.9bn deal that will see it moving further into the ...
PROMOTION
EGYM has been pioneering the connected gym floor for more than a decade, partnering with operators and other third-party integrations, ...
Strava and Oura have teamed up to provide users with a more integrated service between the two systems. Oura members ...
Tonal, the at-home strength-training startup backed by Amazon and athletes such as Serena Williams, Maria Sharapova and Mike Tyson, has ...
Peloton has announced that it will exit all owned manufacturing operations, cease making its own products and instead expand its ...
Mindbody and Class Pass have released their 2022 Mid-Year Wellness Trends Report which reveals their predictions following two years of ...
Speedflex has introduced at-home workout machine Speedflex Blade. The product was launched with the support of former footballers Alan Shearer ...
Brawn has launched InGym, a connected strength-training visual display solution for the free weights lifting community. The technology was recently ...
Music service provider Rehegoo (pronounced Reh-air-go) has launched a streaming service for health clubs, gyms, studios, spas and other businesses ...
More fit tech news