SATS GROUP

What SATS GROUP does

SATS GROUP is the leading pan-Nordic health and fitness chain, founded in 1995 in Norway and listed on the Oslo Stock Exchange (ticker: SATS) since October 2019. The company operates 274 fitness clubs across Norway (119 clubs under SATS and Fresh Fitness), Sweden (93 SATS clubs), Denmark (32 SATS clubs), and Finland (28 ELIXIA clubs), serving approximately 733,000-736,000 individual members. Its multi-brand portfolio spans the full-service SATS and ELIXIA propositions, a low-cost Fresh Fitness sub-brand with over 80,000 members, and the SATS Online digital platform launched in 2016 that offers pre-recorded and live classes to both members and non-members. Group training concepts (HIIT, Yoga, Pilates, HiYoga, Build'n Burn, Martial Arts) and personal training complement access to studio facilities.

The business is built on recurring monthly subscription memberships, supplemented by personal training, retail (sports apparel and merchandise), and selected physiotherapy and sports massage services. Distribution is overwhelmingly physical: company-owned clubs are the primary channel, with SATS Online providing a digital extension. The go-to-market targets individual consumers directly, with marketing focused on inspiring activity and building community through group training. Operating geographies span all four Nordic countries, and the company is described as one of the five largest fitness operators in Europe.

In Q4 2025, SATS reported revenue of NOK 1.43 billion (+9% year-over-year), EBITDA before IFRS 16 of NOK 224 million (+28%), and profit of NOK 121 million (+61%), while reducing net debt by 9% to NOK 967 million. The company has reiterated a mid-term ambition of NOK 1.10 billion in EBITDA before IFRS 16 and initiated active capital returns in 2025 through its first dividend as a listed company and ongoing share buybacks, including a 2026 program of up to NOK 200 million.

Name

SATS GROUP

Legal name

SATS ASA

Website

https://satsgroup.com

Company type

Public

Founded year

1995

Operating status

Operating

Headcount range

51–100 employees

Short description

SATS GROUP is the largest pan-Nordic fitness chain, operating 274 clubs across Norway, Sweden, Finland, and Denmark under the SATS, ELIXIA, and Fresh Fitness brands, serving approximately 733,000 individual members through monthly subscriptions and a digital training platform.

Ownership category

akta.pro rank

Product category

Health and Fitness Club Services

NAICS

Fitness and Recreational Sports Centers (713940), Sports and Recreation Instruction (611620)

SIC

Services-Membership Sports & Recreation Clubs (7997), Services-Miscellaneous Amusement & Recreation (7990)

akta.pro primary industry

Specialty Membership Clubs (Category-Focused) (CRAEADAI)

Keywords

• Fitness club memberships
• Group training classes
• Personal training services
• Online fitness platform
• Nordic health chain

Headquarters

HQ city

Oslo

HQ country

Norway

HQ region

Europe

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Marketing or Sales, Technology or R&D

Revenue model

1. Fitness Membership Subscriptions: Recurring subscription revenue from fitness club memberships. Members pay for access to club facilities, group training, and digital offerings. The company reports strong member activity driving revenue growth with price adjustments across markets.
2. Personal Training Services: Revenue from highly qualified personal trainers providing specialized training and individual coaching services
3. Group Training: Revenue from the broadest offering of group training with superior programming including HIIT, Yoga, Pilates, and specialized fitness classes
4. Retail Products: Revenue from sale of retail products including sports clothing and fitness-related merchandise
5. Physiotherapy and Health Services: Additional services including physiotherapy and sports massage offered in selected clubs

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels4 records

Core offering

SATS GROUP operates a pan-Nordic chain of 274 fitness clubs providing recurring membership access to studio facilities, group training classes, personal training services, and a digital online training platform. Revenue is generated primarily through monthly subscription memberships, with ancillary income from personal training, retail merchandise, physiotherapy and sports massage services, and online training access for non-members.

Product overview

SATS GROUP operates as a leading Nordic fitness operator with a multi-brand portfolio consisting of core brands (SATS, ELIXIA), a budget sub-brand (Fresh Fitness), and digital offerings (SATS Online). The company offers cutting-edge studio facilities for individual training, the broadest offering of group training with superior programming, personal training services, and online training/digital tools. Their group training portfolio includes niche concepts such as HIIT, Yoga (HiYoga), Build'n Burn, and Martial Arts. The portfolio architecture is organized by brand (SATS/ELIXIA for full-service, Fresh Fitness for budget), training type (group training concepts, personal training), and delivery channel (physical clubs vs. digital/online).

Differentiator

Problem solved

Functional benefit

Brands

• Fresh Fitness: Low-cost fitness alternative launched in 2010, operating around 40 clubs in Norway with more than 80,000 members, differentiated by competitive group training
• SATS Online
• ELIXIA

Products and services

• SATS fitness club memberships Full-service fitness club memberships providing access to studio facilities, group training classes, and personal training services across Norway, Sweden, and Denmark under the SATS brand.
• ELIXIA fitness club memberships Fitness club memberships in Finland offering the same comprehensive fitness services as SATS, emphasizing high-quality facilities and state-of-the-art equipment.
• Fresh Fitness memberships Low-cost fitness club memberships in Norway offering competitive group training as a value-oriented alternative to the SATS premium brand, with more than 80,000 members across around 40 clubs.
• SATS Online digital training Digital fitness platform providing online training programs, 100+ pre-recorded classes, and live classes accessible to both members and non-members when not able to physically visit club facilities.
• Personal Training Personalized one-on-one coaching by highly qualified personal trainers providing specialized training and individual coaching services.
• Group Training classes The broadest offering of group training in the Nordics with superior programming, including HIIT, Yoga, Pilates, HiYoga, Build'n Burn, and Martial Arts classes.
• Physiotherapy and health services

Quantifiable outcome

• Q4 2025 profit increased 61% to NOK 121 million
• +4 more outcomes

Named customers2 records

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

Two partnerships are on record, tiered core.

• United Nations (SDGs)coreStrategic or Co-development PartnerSATS is committed to contributing to the UN Sustainable Development Goals (SDGs), adopted in 2015, with focus on health and wellness outcomes for its members.
• DeloittecoreOthersSATS auditor headquartered at Dronning Eufemias gate 14, 0191 Oslo. Provides annual audit and financial reporting services.

Scale indicators12 records

Recent moves9 records

Expansion highlights6 records

Direct peers

• Basic-Fit: Largest low-cost fitness operator in Europe, listed on Euronext Amsterdam with clubs across the Netherlands, Belgium, France, Spain, and Germany. Direct competitor to SATS in the European value-tier fitness market with similar subscription model and club expansion strategy.
• The Gym Group: UK-listed low-cost gym operator with nationwide presence and a subscription-based model. Comparable to SATS as a publicly listed, multi-site fitness chain focused on high-volume membership economics rather than premium services.
• PureGym: Private UK-headquartered low-cost fitness chain with significant international presence across Europe and the Middle East. Closely comparable to SATS in low-cost subscription gym operations and digital member engagement.
• Actic Group: Swedish-listed fitness chain operating gym and training centers across the Nordics. Direct competitor to SATS in Sweden and other Nordic geographies, with a comparable subscription-based business model.
• Fitness World: Major Scandinavian fitness operator headquartered in Denmark with strong presence in Norway and other Nordic markets. SATS's Country Manager for Denmark previously served as Director of Operations at Fitness World, reflecting direct competitive overlap.

Others

• Wellhub (formerly Gympass): Corporate wellness platform connecting employees to fitness facilities globally. Adjacent to SATS as a B2B distribution channel partner, since SATS clubs are accessible through corporate wellness programs, but not a direct competitor.
• Elenia (Terveystalo) Corporate Wellness: Nordic private healthcare provider with corporate wellness offerings that sometimes include gym partnerships. Adjacent ecosystem participant rather than direct competitor, but reflects the broader Nordic health/wellness space in which SATS competes.

Broad incumbents

• RSG Group: Berlin-based fitness conglomerate operating McFit, John Reed, and other brands across Europe. Comparable to SATS as a large multi-brand fitness platform with premium and value brands, though focused on continental Europe.
• LifeFit Group: German-headquartered fitness platform operating multiple brands including Fitness First and cleverfit across the DACH region. Comparable to SATS as a multi-brand European fitness operator, though focused on German-speaking markets.

Emerging players

• EVO Fitness: Spanish low-cost fitness chain growing rapidly in Spain and southern Europe. Comparable to SATS in low-cost subscription gym model, though operating in a different geographic market.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/sats-group

Revenue estimate

Valuation estimate

Number of profiles

Profiles15 records

Subsidiaries6 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about SATS GROUP