Nordic fitness operator Sats reported a 61% jump in fourth-quarter profit, driven by stronger member activity and price adjustments across its Nordic markets. The company posted NOK 121 million in profit for the period, up from NOK 75 million a year earlier, as revenue climbed 9% to NOK 1.43 billion.

Free cash flow surged 59% to NOK 244 million, while EBITDA before IFRS 16 rose 28% to NOK 224 million. CEO Sondre Gravir attributed the growth to disciplined execution on member engagement, noting that activity levels continued to increase as part of a longer-term trend. The company ended 2024 with 755,000 members, up 3% year-over-year, and maintained its club footprint at 273 locations.

For the full year, Sats generated NOK 5.51 billion in revenue, up 9%, with EBITDA before IFRS 16 of NOK 871 million, an 18% increase. Annual free cash flow reached NOK 506 million, improving 25%. The company lowered net debt to NOK 967 million, reducing its leverage ratio to 1.10x EBITDA before IFRS 16. The board proposed a semi-annual dividend of NOK 0.67 per share, subject to approval at a March 3 extraordinary meeting.