Actic Group (ATIC) Q2 2024 earnings summary

Executive summary

• Net sales rose 1.7% year-over-year to SEK 170.5m, with comparable clubs up 7% and positive visit and yield trends.

• EBITDA increased 8% to SEK 53.5m, with margin improving to 31.4%; EBIT more than doubled to SEK 12.5m.

• Membership grew 6% in comparable clubs, but total base declined due to 10 fewer facilities; ARPM increased 4% to SEK 367.

• Strategic initiatives included winning the Mörbybadet tender, five club upgrades, three closures, and a harmonized swim school offer.

• Focus sharpened on core business, efficiency, and margin improvement.

Financial highlights

• Net sales: SEK 170.5m (Q2 2023: SEK 167.6m), up 1.7%.

• EBITDA: SEK 53.5m (Q2 2023: SEK 49.8m), up 8%; margin 31.4% (29.7%).

• EBIT: SEK 12.5m (Q2 2023: SEK 6.6m); EBITDA excl. IFRS 16: SEK 17.3m (up 38%).

• ARPM: SEK 367 (Q2 2023: SEK 352), up 4%; gym-only ARPM up 7%.

• Bath revenues increased SEK 1.5m to SEK 8.0m.

Outlook and guidance

• Focus remains on margin improvement, debt reduction, and core business growth.

• Ongoing cost control and price adjustments expected to support profitability.