Continued adjustment with clear targets in sight
- Net sales decreased with 1% to SEK 238 million (240).
- EBIT amounted to SEK -1.5 million (20.7), corresponding to a margin of -0.6% (8.7).
- Earnings per share amounted to SEK -0.66 (0.35).
- The average income per member and month increased with 1 per cent to SEK 352 (350).
In today’s interim year report, Actic Group reports a negative growth of 1% in the second quarter. EBIT amounted to SEK -1.5 million with a negative margin of 0.6%. The result has been affected by the restructuring work during the second quarter, which resulted in additional costs totaling nearly SEK 12 million due to, for example, organisational changes and support costs. The average income per member and month (ARPM) increased with 1% to SEK 352.
“The operating profit for the second quarter is highly unsatisfactory. With the goal to increase the organisation’s profitability with SEK 40-50 million on an annual basis we continue to work on conceptualizing the offer and streamlining the business. Further, underperforming clubs are monitored and where long-term profitability targets are not achieved, closure or divestment will take place, which will generate an earnings improvement in the range of SEK 12-15 million on an annual basis”, says Anders Carlbark, CEO and President of Actic Group.
Restructuring costs will be phased out during the second half of the year, while our efficiency work will gradually yield results and new staffing efficiency targets will be implemented in order to reduce staff costs.
For further information, please contact:
Anders Carlbark, CEO, email@example.com, +46 72 980 53 94
Niklas Alm, Investor Relations, firstname.lastname@example.org, +46 70 824 40 88
The information above is such that Actic Group AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 07:45 CET on Thursday August 22nd.
Actic (formerly Nautilus Gym) was founded in 1981 and launched the Gym & Swim club concept. The company began its international expansion in 1995 and as per 30 June 2019, Actic had 182 facilities and 222,000 members in four countries. Actic’s main markets are Sweden, Norway as well as Germany and Austria. Actic offers a well-established exercise method known as high-intensity training (HIT) and offers its members personal training programmes including follow-up sessions with trained instructors. Together with swimming, this forms the core of Actic’s offering and differentiates us in the market.
Actic’s vision is to create a healthier society by attracting a broad target group and thereby expanding the market. The facilities engage in the local community to contribute to a healthier society. Actic, which has its head office in Solna, Stockholm, has approximately 800 full-time equivalent employees and had net sales of SEK 941 million in 2018. Actic is led by its President and CEO Anders Carlbark.