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Actic Q3: Betters our estimates amid longed for reopening of facilities - SEB

Actic Group reported Q3 sales and earnings ahead of our forecasts. During the quarter 13% of its facilities were closed. Importantly, Actic recorded the first increase in number of members (+6,000 q/q) since the start of the pandemic, reflecting easing and removed restrictions. Since the start of Q4, 100% of its Nordic gym club facilities are now open (85% of its total number of facilities) and fully operational. We reiterate our mid-point DCF value of SEK 25 per share.

Actic Group reported Q3 sales and earnings ahead of our forecasts. During the quarter 13% of its facilities were closed. Importantly, Actic recorded the first increase in number of members (+6,000 q/q) since the start of the pandemic, reflecting easing and removed restrictions. Since the start of Q4, 100% of its Nordic gym club facilities are now open (85% of its total number of facilities) and fully operational. We reiterate our mid-point DCF value of SEK 25 per share.
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