Latest
issue
GET HCM
magazine
Sign up for the FREE digital edition of HCM magazine and also get the HCM ezine and breaking news email alerts.
Not right now, thanksclose this window I've already subscribed!
Elevate
Elevate
Elevate
Follow Health Club Management on Twitter Like Health Club Management on Facebook Join the discussion with Health Club Management on LinkedIn
FITNESS, HEALTH, WELLNESS

Latest news

SATS’ CEO Gravir hits brakes on expansion despite record membership levels and income – focus for 2023 will be on 'economic improvements'

SATS Q4 2022 report shows record-level membership base, up 13,000 in Q4 to 721,000 overall
Revenue also increased from NOK 3,247m to NOK 4,082m
Positive momentum of new member sign-ups has continued into 2023, but operational costs are up
CEO Sondre Gravir says the focus for 2023 will be on 'economic improvements', with club rollouts being paused to allow this work to take place and loss-making clubs being closing

Results from SATS' Q4 2022 report show that membership numbers grew to record levels in 2022, reaching 721,000 overall, including an increase of 13,000 during the last quarter.

Annual revenues and use of digital also increased in the year, while visitation grew, with members working-out 10.5 million times in Q4 alone.

CEO Sondre Gravir said the positive momentum of new member sign-ups has continued into 2023, however, in spite of these results, a rising cost base is impacting the company’s EBITDA and growth, with energy costs up 41 per cent.

Gravir said the focus for 2023 will be on 'economic improvements' through increasing the number of members per club and also increasing revenue per member via price increases, which are already being well tolerated by members.

“During the fourth quarter, we continued the sharp focus on attracting new members and maintaining existing members,” said Gravir. “Our development in the fourth quarter is again proving that the Nordic population is still prioritising investments in health, despite a more challenging macro environment.”

In cutting costs, SATS will enter negotiations with landlords over rental costs which have been increasing.

Clubs with low profitability will be closed or relocated and electricity prices have been hedged for the first half of 2023.

Norway delivered the strongest performance with 2022 EBITDA NOK 337m (NOK 97m in 2021) while the operation in Denmark was the weakest, being loss-making in 2022 at NOK -46 against a bigger loss of NOK -51 in 2021, indicating that any necessary club closures could be focused on that market, although this has not been confirmed by SATS.

Sweden came in at NOK 192m (NOK 133m in 2021) with Finland showing a turnaround on the previous year at NOK 1m (vs NOK -48m in 2021).

SATS says although it's being affected by inflationary pressure in the short term, in the longer-term it's "comfortable with its ability to increase prices in line with inflation".

Overall, total revenues increased from NOK 3,247m in 2021 to NOK 4,082m in 2022, with revenue in Q4 at NOK 1,082m – an increase of 8 per cent on Q4 2021. However, the adjusted EBITDA showed a drop of 54 per cent from Q4 2021 of NOK 26m to Q4 2022 of NOK 12m due to increases in outgoings.

Overall profit/loss for the year was an improved NOK -246m against NOK -452m in 2021

At the start of Q4 2022, SATS was operating 275 gyms, up 13 from the corresponding quarter in 2021. Ten new gyms were due to open over the next two years, but plans for these have been put on hold pending the results of cost-reduction exercises, with Gravir saying additions to the club estate are 'temporarily paused'.

During an exclusive interview with HCM in Q4 of 2021, Gravir said that SATS was aiming to raise membership numbers to pre-COVID levels of 700,000, as the pandemic caused the base to drop to 600,000. The report’s results show that despite the ongoing complexities surrounding club operations, Gravir reached this milestone membership target.

SATS' annual report for 2022 will be published on 27 April 2023.

SATS STATS

Norway has 325,000 members across 122 clubs in 2022. One club opened during the year, but one closed in Q4 due to “club network optimisation”Sweden had 244,000 members at the end of 2022 and 92 clubs with one club closing

SATS operates 32 clubs under the brand name Elixia in Finland – last year one new site opened in Q4 2022SATS Denmark finished the year with 82,000 members and 29 clubs – it had 30, but one was closed

Results from SATS' Q4 2022 report show that membership numbers grew to record levels in 2022, reaching 721,000 overall, including an increase of 13,000 during the last quarter.
PTS,HAF,FIT,IND
2023/THUMB350871_711297_353118.jpg
Latest News
Empowered Brands has signed a deal with European staffless gym chain, Fit+, to be the ...
Latest News
Speaking to HCM for its 2024-2025 Handbook, which will be out next month, PureGym managing ...
Latest News
Leisure, lifestyle, wellness and entertainment growth investor, Imbiba, has invested in boutique gym brand, 1Rebel's ...
Latest News
Urban Gym Group will launch PILAT3S at ClubSportive in Amsterdam next month, to create a ...
Latest News
The American Council on Exercise has appointed Dr Cedric Bryant as its new CEO. Bryant ...
Latest News
Sport England’s This Girl Can team has launched a new campaign, Let’s Get Out There, ...
Latest News
Improving physical strength and fitness, mental health and confidence are the main reasons for joining ...
Latest News
Speaking to HCM, global CEO of Lift Brands, Ty Menzies, has confirmed that the company ...
HCM promotional features
Sponsored
Coaching workshops from Keith Smith and Adam Daniel have been designed to empower your team and transform your service
HCM promotional features
Sponsored
The partnership between PureGym and Belfast-based supplier BLK BOX is transforming the gym floor
HCM promotional features
Sponsored
GymNation is pioneering the future of fitness with software specialist Perfect Gym providing a scalable tech platform to power and sustain its growth
HCM promotional features
Sponsored
D2F had updated its brand styling to keep pace with business growth. MD, John Lofting and operations director, Matt Aynsley, explain the rationale
HCM promotional features
Sponsored
Francesca Cooper-Boden says health assessment services can boost health club retention
HCM promotional features
Sponsored
Operators, prepare to revolutionise the way members connect with personal trainers in your club, with the ground-breaking Brawn platform.
HCM promotional features
Sponsored
University of Sheffield Sport has opened the doors of its flagship Goodwin Sports Centre following a major refurbishment
HCM promotional features
Sponsored
The New Keiser M3i Studio Bike brings ride data to life to engage and delight members
HCM promotional features
Sponsored
Nuffield Health has worked with ServiceSport UK for more than ten years, ensuring the equipment in its clubs is commercially optimised
HCM promotional features
HCM magazine
HCM People

Belinda Steward

MD of leisure, health and wellbeing, Places Leisure Places Leisure
We need to make it automatic that when people go to their doctor, they’re offered exercise rather than medication where appropriate
HCM magazine
The European fitness sector is beating pre-pandemic numbers according to the 11th annual European Health & Fitness Market Report 2024 from Deloitte and EuropeActive, as Karsten Hollasch reports
HCM magazine
When a hefty round of investment coincided with the pandemic, the CEO of Midtown Athletic Clubs feared the company – founded by his grandfather – would go down on his watch. He talks to Kath Hudson about the pressure to keep the business afloat
HCM magazine
The Elevate trade show and conference comes to London next month. HCM gives the low down on what to look out for
HCM magazine
I needed a new management team with the talent and leadership to reposition a 20-year-old brand
Featured supplier news
Featured supplier news: Introducing the Schwinn Z Bike: where innovation meets performance
In the dynamic world of indoor cycling, Schwinn has consistently been at the forefront of innovation. Now, we proudly present the Schwinn Z Bike, the culmination of our legacy of excellence.
Featured supplier news
Featured supplier news: Places Leisure successfully launches myFitApp to enhance member experience
Places Leisure is a leading leisure centre operator with a mission to create active places and healthy people for communities to thrive.
Company profiles
Company profile: Study Active
Study Active is a UK leading provider of health & fitness qualifications including Gym Instructing ...
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym is a global software provider specialising in fitness and recreation facility management solutions. ...
Supplier Showcase
Supplier showcase - Jon Williams
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Innerva press release: Charity launches community wellbeing space to address health disparities in Birmingham
A charity dedicated to narrowing the gender and ethnic diversity gap in physical activity has launched a community wellbeing space aimed at extending the lives of people with some of the UK’s poorest health outcomes.
Featured press releases
Greenwich Leisure Limited press release: Oasis Beach Pool invites Bedfordians to 'Totally Tropical Beach Party' Tuesday 28 May
Oasis Beach Pool, in Bedford, officially re-opens Tuesday 28 May with a celebration for the local community.
Directory
Lockers
Fitlockers: Lockers
salt therapy products
Saltability: salt therapy products
Cryotherapy
Art of Cryo: Cryotherapy
Snowroom
TechnoAlpin SpA: Snowroom
Spa software
SpaBooker: Spa software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Property & Tenders
Loughton, IG10
Knight Frank
Property & Tenders
Grantham, Leicestershire
Belvoir Castle
Property & Tenders
Diary dates
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
Diary dates
30 May - 02 Jun 2024
Rimini Exhibition Center, Rimini, Italy
Diary dates
08-08 Jun 2024
Worldwide, Various,
Diary dates
11-13 Jun 2024
Raffles City Convention Centre, Singapore, Singapore
Diary dates
12-13 Jun 2024
ExCeL London, London, United Kingdom
Diary dates
03-05 Sep 2024
IMPACT Exhibition Center, Bangkok, Thailand
Diary dates
08-10 Sep 2024
Wyndham® Lake Buena Vista Disney Springs™ Resort, Lake Buena Vista, United States
Diary dates
19-19 Sep 2024
The Salil Hotel Riverside - Bangkok, Bangkok 10120, Thailand
Diary dates
20-22 Sep 2024
Locations worldwide,
Diary dates
01-04 Oct 2024
REVĪVŌ Wellness Resort Nusa Dua Bali, Kabupaten Badung, Indonesia
Diary dates
09-13 Oct 2024
Soneva Fushi, Maldives
Diary dates
22-25 Oct 2024
Messe Stuttgart, Germany
Diary dates
24-24 Oct 2024
QEII Conference Centre, London, United Kingdom
Diary dates
04-07 Nov 2024
In person, St Andrews, United Kingdom
Diary dates
04-06 Feb 2025
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates

Latest news

SATS’ CEO Gravir hits brakes on expansion despite record membership levels and income – focus for 2023 will be on 'economic improvements'

SATS Q4 2022 report shows record-level membership base, up 13,000 in Q4 to 721,000 overall
Revenue also increased from NOK 3,247m to NOK 4,082m
Positive momentum of new member sign-ups has continued into 2023, but operational costs are up
CEO Sondre Gravir says the focus for 2023 will be on 'economic improvements', with club rollouts being paused to allow this work to take place and loss-making clubs being closing

Results from SATS' Q4 2022 report show that membership numbers grew to record levels in 2022, reaching 721,000 overall, including an increase of 13,000 during the last quarter.

Annual revenues and use of digital also increased in the year, while visitation grew, with members working-out 10.5 million times in Q4 alone.

CEO Sondre Gravir said the positive momentum of new member sign-ups has continued into 2023, however, in spite of these results, a rising cost base is impacting the company’s EBITDA and growth, with energy costs up 41 per cent.

Gravir said the focus for 2023 will be on 'economic improvements' through increasing the number of members per club and also increasing revenue per member via price increases, which are already being well tolerated by members.

“During the fourth quarter, we continued the sharp focus on attracting new members and maintaining existing members,” said Gravir. “Our development in the fourth quarter is again proving that the Nordic population is still prioritising investments in health, despite a more challenging macro environment.”

In cutting costs, SATS will enter negotiations with landlords over rental costs which have been increasing.

Clubs with low profitability will be closed or relocated and electricity prices have been hedged for the first half of 2023.

Norway delivered the strongest performance with 2022 EBITDA NOK 337m (NOK 97m in 2021) while the operation in Denmark was the weakest, being loss-making in 2022 at NOK -46 against a bigger loss of NOK -51 in 2021, indicating that any necessary club closures could be focused on that market, although this has not been confirmed by SATS.

Sweden came in at NOK 192m (NOK 133m in 2021) with Finland showing a turnaround on the previous year at NOK 1m (vs NOK -48m in 2021).

SATS says although it's being affected by inflationary pressure in the short term, in the longer-term it's "comfortable with its ability to increase prices in line with inflation".

Overall, total revenues increased from NOK 3,247m in 2021 to NOK 4,082m in 2022, with revenue in Q4 at NOK 1,082m – an increase of 8 per cent on Q4 2021. However, the adjusted EBITDA showed a drop of 54 per cent from Q4 2021 of NOK 26m to Q4 2022 of NOK 12m due to increases in outgoings.

Overall profit/loss for the year was an improved NOK -246m against NOK -452m in 2021

At the start of Q4 2022, SATS was operating 275 gyms, up 13 from the corresponding quarter in 2021. Ten new gyms were due to open over the next two years, but plans for these have been put on hold pending the results of cost-reduction exercises, with Gravir saying additions to the club estate are 'temporarily paused'.

During an exclusive interview with HCM in Q4 of 2021, Gravir said that SATS was aiming to raise membership numbers to pre-COVID levels of 700,000, as the pandemic caused the base to drop to 600,000. The report’s results show that despite the ongoing complexities surrounding club operations, Gravir reached this milestone membership target.

SATS' annual report for 2022 will be published on 27 April 2023.

SATS STATS

Norway has 325,000 members across 122 clubs in 2022. One club opened during the year, but one closed in Q4 due to “club network optimisation”Sweden had 244,000 members at the end of 2022 and 92 clubs with one club closing

SATS operates 32 clubs under the brand name Elixia in Finland – last year one new site opened in Q4 2022SATS Denmark finished the year with 82,000 members and 29 clubs – it had 30, but one was closed

Results from SATS' Q4 2022 report show that membership numbers grew to record levels in 2022, reaching 721,000 overall, including an increase of 13,000 during the last quarter.
PTS,HAF,FIT,IND
2023/THUMB350871_711297_353118.jpg

Latest news

Empowered Brands has signed a deal with European staffless gym chain, Fit+, to be the
Speaking to HCM for its 2024-2025 Handbook, which will be out next month, PureGym managing
Leisure, lifestyle, wellness and entertainment growth investor, Imbiba, has invested in boutique gym brand, 1Rebel's
Urban Gym Group will launch PILAT3S at ClubSportive in Amsterdam next month, to create a
The American Council on Exercise has appointed Dr Cedric Bryant as its new CEO. Bryant
Sport England’s This Girl Can team has launched a new campaign, Let’s Get Out There,
Innovatise UK Ltd
Innovatise UK Ltd
In today's competitive fitness landscape, the key to success lies not only in providing exceptional
Improving physical strength and fitness, mental health and confidence are the main reasons for joining
Speaking to HCM, global CEO of Lift Brands, Ty Menzies, has confirmed that the company
Planet Fitness has announced the repurchase of 314,000 shares at a rate of US$20 million.
Xponential Fitness today indefinitely suspended founder and CEO, Anthony Geisler, saying it had been notified
Fast Fitness Japan, master franchisee of Anytime Fitness in Japan, has acquired Eighty-8 Health &
Xplor Technologies has unveiled a financing solution for small businesses, which aims to counter the
Alliance Leisure
Alliance Leisure
Phil Heath, professional athlete, bodybuilder and 7x Mr. Olympia, has fielded a lot of questions
HoloBike, a holographic training bike that simulates trail rides in lifelike 3D, is aiming to
Peloton Interactive Inc is believed to be working to get its costs under control in
Equinox, has teamed up with health platform, Function Health, to offer 100 comprehensive laboratory tests,
Having good levels of cardiorespiratory fitness cuts disease and premature death by 11 to 17
US gym chain, Crunch Fitness, has bolstered its global expansion plans with the appointment of
Active Oxfordshire has received £1.3 million to tackle inactivity and inequality and launch a new
Elevate
Elevate
Following a hugely successful event last year in Split, Croatia, a W3Fit EMEA, is heading
Barry’s – known for its HIIT workouts combining treadmills and weights – is thought to
Consultancy and change architects, Miova, have welcomed industry veteran Mark Tweedie on board. Tweedie had
1 - 20 of 12,300
HCM promotional features
Sponsored
Coaching workshops from Keith Smith and Adam Daniel have been designed to empower your team and transform your service
HCM promotional features
Sponsored
The partnership between PureGym and Belfast-based supplier BLK BOX is transforming the gym floor
HCM promotional features
Sponsored
GymNation is pioneering the future of fitness with software specialist Perfect Gym providing a scalable tech platform to power and sustain its growth
HCM promotional features
Sponsored
D2F had updated its brand styling to keep pace with business growth. MD, John Lofting and operations director, Matt Aynsley, explain the rationale
HCM promotional features
Sponsored
Francesca Cooper-Boden says health assessment services can boost health club retention
HCM promotional features
Sponsored
Operators, prepare to revolutionise the way members connect with personal trainers in your club, with the ground-breaking Brawn platform.
HCM promotional features
Sponsored
University of Sheffield Sport has opened the doors of its flagship Goodwin Sports Centre following a major refurbishment
HCM promotional features
Sponsored
The New Keiser M3i Studio Bike brings ride data to life to engage and delight members
HCM promotional features
Sponsored
Nuffield Health has worked with ServiceSport UK for more than ten years, ensuring the equipment in its clubs is commercially optimised
HCM promotional features
HCM magazine
HCM People

Belinda Steward

MD of leisure, health and wellbeing, Places Leisure Places Leisure
We need to make it automatic that when people go to their doctor, they’re offered exercise rather than medication where appropriate
HCM magazine
The European fitness sector is beating pre-pandemic numbers according to the 11th annual European Health & Fitness Market Report 2024 from Deloitte and EuropeActive, as Karsten Hollasch reports
HCM magazine
When a hefty round of investment coincided with the pandemic, the CEO of Midtown Athletic Clubs feared the company – founded by his grandfather – would go down on his watch. He talks to Kath Hudson about the pressure to keep the business afloat
HCM magazine
The Elevate trade show and conference comes to London next month. HCM gives the low down on what to look out for
HCM magazine
I needed a new management team with the talent and leadership to reposition a 20-year-old brand
HCM magazine
Pilates is having a moment. Steph Eaves asks suppliers how they’re responding to the demand
HCM magazine
Speaking on the LIFTS podcast recently, Xponential Fitness CEO Anthony Geisler said participation in studio cycling is down globally. Kath Hudson decided to investigate
HCM magazine
HCM People

Jen Holland

CEO: Edinburgh Leisure
Edinburgh Council will have a £143m budget shortfall by 2028/29 and so must find ways to become more efficient
HCM magazine
What needs to happen to integrate physical activity with healthcare? Leaders in the sector share their thoughts
HCM magazine
We have a fantastic opportunity in front of us to realise our vision of a happier and healthier world
HCM magazine
Consumers’ growing love of strength training is to be welcomed, as this long-neglected modality has a renaissance, however, it’s vital we continue to make the case for cardio
HCM magazine
Featured supplier news
Featured supplier news: Introducing the Schwinn Z Bike: where innovation meets performance
In the dynamic world of indoor cycling, Schwinn has consistently been at the forefront of innovation. Now, we proudly present the Schwinn Z Bike, the culmination of our legacy of excellence.
Featured supplier news
Featured supplier news: Places Leisure successfully launches myFitApp to enhance member experience
Places Leisure is a leading leisure centre operator with a mission to create active places and healthy people for communities to thrive.
Company profiles
Company profile: Study Active
Study Active is a UK leading provider of health & fitness qualifications including Gym Instructing ...
Company profiles
Company profile: Perfect Gym Solutions S.A.
Perfect Gym is a global software provider specialising in fitness and recreation facility management solutions. ...
Supplier Showcase
Supplier showcase - Jon Williams
Catalogue Gallery
Click on a catalogue to view it online
Featured press releases
Innerva press release: Charity launches community wellbeing space to address health disparities in Birmingham
A charity dedicated to narrowing the gender and ethnic diversity gap in physical activity has launched a community wellbeing space aimed at extending the lives of people with some of the UK’s poorest health outcomes.
Featured press releases
Greenwich Leisure Limited press release: Oasis Beach Pool invites Bedfordians to 'Totally Tropical Beach Party' Tuesday 28 May
Oasis Beach Pool, in Bedford, officially re-opens Tuesday 28 May with a celebration for the local community.
Directory
Lockers
Fitlockers: Lockers
salt therapy products
Saltability: salt therapy products
Cryotherapy
Art of Cryo: Cryotherapy
Snowroom
TechnoAlpin SpA: Snowroom
Spa software
SpaBooker: Spa software
Flooring
Total Vibration Solutions / TVS Sports Surfaces: Flooring
Property & Tenders
Loughton, IG10
Knight Frank
Property & Tenders
Grantham, Leicestershire
Belvoir Castle
Property & Tenders
Diary dates
23-24 May 2024
Large Hall of the Chamber of Commerce (Erbprinzenpalais), Wiesbaden, Germany
Diary dates
30 May - 02 Jun 2024
Rimini Exhibition Center, Rimini, Italy
Diary dates
08-08 Jun 2024
Worldwide, Various,
Diary dates
11-13 Jun 2024
Raffles City Convention Centre, Singapore, Singapore
Diary dates
12-13 Jun 2024
ExCeL London, London, United Kingdom
Diary dates
03-05 Sep 2024
IMPACT Exhibition Center, Bangkok, Thailand
Diary dates
08-10 Sep 2024
Wyndham® Lake Buena Vista Disney Springs™ Resort, Lake Buena Vista, United States
Diary dates
19-19 Sep 2024
The Salil Hotel Riverside - Bangkok, Bangkok 10120, Thailand
Diary dates
20-22 Sep 2024
Locations worldwide,
Diary dates
01-04 Oct 2024
REVĪVŌ Wellness Resort Nusa Dua Bali, Kabupaten Badung, Indonesia
Diary dates
09-13 Oct 2024
Soneva Fushi, Maldives
Diary dates
22-25 Oct 2024
Messe Stuttgart, Germany
Diary dates
24-24 Oct 2024
QEII Conference Centre, London, United Kingdom
Diary dates
04-07 Nov 2024
In person, St Andrews, United Kingdom
Diary dates
04-06 Feb 2025
Coventry Building Society Arena, Coventry, United Kingdom
Diary dates
Search news, features & products:
Find a supplier:
Elevate
Elevate
Partner sites