SATS

Earnings Release • Aug 21, 2025

SATS ASA Q2 2025: Reporting an EBIT growth of 35% in the quarter and distributing dividend of 50% of H1 2025 net profit

SATS ASA Q2 2025: Reporting an EBIT growth of 35% in the quarter and distributing dividend of 50% of H1 2025 net profit

SATS ASA ("the Company") delivered revenues of NOK 1 393 million and EBIT

before IFRS 16 of 215 million in the second quarter of 2025. The activity

level kept growing due to both member growth and higher activity level per

member, with number of workouts up 4% from last year. Ongoing investments in

group training are paying off, with this segment leading the overall workout

growth.

Key highlights from the second quarter of 2025:

- Total revenues of NOK 1 393 million in Q2 2025, up 10% compared to the same

quarter last year

- EBITDA before IFRS 16 increasing by 23% to NOK 269 million in the quarter

- EBIT before IFRS 16 of NOK 215 million, up 35% compared to Q2 2024

- Operating cash flow of NOK 129 million and a cash conversion of 48% in the

quarter

- Continued momentum in club activity highlights the appeal of the offering,

with the increase driven by the group training offering

- Distributing dividend of 50% of H1 2025 net profit, equal to NOK 0.63 per

share and a total payout of NOK 127 million. Combined with share buybacks,

this brings H1 2025 capital return well above our 50% minimum target

- Clear strategic focus on the core reaffirmed at the CMD in May. Mid-term

EBITDA before IFRS 16 ambition of NOK 1.1 billion, with improvements expected

to unfold gradually over time, reflecting a steady progression toward the

target

"We have closed a strong second quarter, both operationally and financially.

The number of workouts at our clubs continues to grow, which is the clearest

testament to the appeal of our product. We have also reached a financial

milestone, delivering on our NOK 800 million EBITDA ambition over the past

twelve months. This strong financial performance enables us to distribute

SATS' first dividend as a listed company," says Sondre Gravir, CEO of SATS.

SATS' CEO Sondre Gravir and CFO Cecilie Elde will hold a webcast presentation

at 08:30 CEST today, August 21, 2025. The presentation will be held as a

webcast only, available at https://satsgroup.com/reports-presentations/

There will be a Q&A for investors and analysts from 10:00 to 10:30 (CET) over

Microsoft Teams:

https://teams.microsoft.com/l/meetup-join/19%3ameeting_MzEwMzMyMzYtZjNkNS00Y2Y0LWFjZTctMDk1OTgzY2MzZjdl%40thread.v2/0?context=%7b%22Tid%22%3a%22b15a587d-acc9-4644-aa51-b56dee85c304%22%2c%22Oid%22%3a%227c7a4263-6531-4e9f-9f3f-79defb4ad3fe%22%7d

Please find enclosed the Q2 2025 presentation and report.

Investor Relations Contacts:

Cecilie Elde, Chief Financial Officer, phone: +47 924 14 195

Stine Klund, Investor Relations, phone: +47 986 99 259

Press Contact:

Tina Brodal, Press Contact, phone: +47 938 44 171

Please see the attached quarterly report for definitions and reconciliations

of the Alternative Performance Measures (APMs). This information is subject to

the disclosure requirements pursuant to Section 5-12 of the Norwegian

Securities Trading Act.