Actic Group (ATIC) Q4 2024 earnings summary

Executive summary

• Net sales increased by 5.6% to SEK 180.8m in Q4 2024, driven by a 4.5% rise in the membership base and higher ARPM, despite a 7% reduction in the number of clubs.

• EBITDA (excluding IFRS 16) more than doubled year-over-year, up 114% to SEK 18.2m, while reported EBITDA reached SEK 57.0m (31.5% margin); EBIT improved to SEK 8.3m from a loss of SEK -26.9m in Q4 2023.

• Portfolio optimization, price adjustments, and increased group training contributed to improved profitability.

• Net result after tax was SEK -4.2m for Q4, an improvement from prior year losses.

• Full-year net sales rose 2.3% to SEK 693.8m, with EBITDA at SEK 217.5m (31.3% margin) and EBIT at SEK 43.8m.

Financial highlights

• Q4 ARPM increased by 5.5% to SEK 383; average members per club rose 12.1% year-over-year to 1,491.

• Cash flow from operating activities in Q4 was SEK 82.4m, up from SEK 66.9m; full-year cash flow from operations was SEK 190.4m.

• Net debt (excluding IFRS 16) decreased by 13.7% to SEK 308.5m; total net debt reduced to SEK 835m.

• Net debt/EBITDA (excluding IFRS 16) improved to 4.4x from 8.2x; total net debt/EBITDA at 3.8x (down from 4.5x).

• Solid equity ratio at 12.3% at year-end.

Outlook and guidance

• Continued focus on member base development, portfolio optimization, and selective expansion in strong market clusters.

• Ongoing price adjustments and expanded product offerings, including group training and swimming, are prioritized for future growth.

• Expansion planned in 2025 with relocations and new openings in Stockholm and Uppsala.

• No formal earnings guidance provided.