SATS (SATS) Investor presentation summary

Market position and growth drivers

• Operates in a growing fitness market, benefiting from health and wellness megatrends and favorable generational dynamics.

• Holds a leading position in the Nordics, with strongholds in key capital cities and high population density areas.

• Club network is strategically located in attractive, high-growth urban regions, supporting long-term structural growth.

• Fitness industry shows resilience to economic cycles, supported by loyal members and lifestyle trends.

Member value proposition and operational strengths

• Offers a comprehensive one-stop shop for training, including fitness, group classes, personal training, childcare, and digital services.

• Strong club clusters in urban centers provide members with flexibility and a wide range of offerings, creating high entry barriers for competitors.

• Exceptional service and motivation delivered by well-trained staff, ensuring high-quality member experience and safety.

• High member activity and satisfaction drive lower churn and increased loyalty, with record-high activity levels and improved NPS.

Financial performance and business model

• Demonstrates robust financial performance with strong revenue growth, solid EBITDA margin expansion, and high cash conversion rates.

• Diversified, low-risk business model with high visibility subscription revenue and broad geographic exposure.

• Maintains disciplined capex and operational efficiency, supporting profitable and scalable club operations.