Skip to main content

Interim Report for the period 1 January – 31 March 2022

Written by Customer Service on . Posted in Earnings Releases And Operating Results.

The Supervisory Board of Tivoli A/S has adopted the Interim Report for the period 1 January – 31 March 2022.

Results for the period 1 January – 31 March 2022 in outline:

  • A revenue of DKK 52.2 million compared to DKK 16.6 million last year (+216%).
  • An EBITDA of DKK -67.3 million compared to DKK -75.4 million last year. EBITDA is DKK 8.1 million better than last year.
  • An EBIT of DKK -95.0 million compared to DKK -103.4 million last year. EBIT is DKK 8.4 million better than last year.
  • A loss before tax of DKK -97.3 million compared to DKK -106.3 million last year. A loss before tax is DKK 9.0 million better than last year.
  • A profit after tax of DKK -75.9 million compared to DKK -82.9 million last year.
  • An attendance figure of 38,000 attendants compared to 24,000 last year (+58%).

”An improved level of activity in the first quarter of 2022 is due to the fact that all Tivoli’s activities were closed in the same period last year as a result of corona restrictions. We are pleased with opening of the Tivoli Gardens on April 8 without corona restrictions and the guests responded promptly with the best Easter in Tivoli’s history. For Tivoli the first quarter is where the Tivoli Gardens is maintained and prepared, which is why we look forward to the coming months, where our guests can experience the Tivoli Gardens, classic culture experiences, our good dining experiences, rides, events and much more.” says CEO, Susanne Mørch Koch.

Outlook for 2022

Tivoli’s outlook for 2022 presumes the framework conditions allow Tivoli to be able proceed with its activities without restrictions. As international guests historically provide a substantial proportion of the overall amount of guests (35%) it is furthermore a pre-requisite that they gradually return to Copenhagen and thus also to Tivoli in the coming months.

By the account of the first quarter and the scheduled opening without restrictions on 8 April the continuous outlook for 2022 is a year with growth and where Tivoli gradually returns to previous numbers of guests and improved finances. However, the timing of it all is still subject to considerable uncertainty.

Tivoli expects revenue on the range of DKK 800-900 million for 2022. This is significantly higher than in 2021 but aprox. 20% below historical level and thus a loss for 2022, but nevertheless a significant profit growth compared to 2021.

Best regards

Tom Knutzen                Susanne Mørch Koch
Chairman                      CEO

Contactperson: Head of press, Torben Plank tlf. 22237440 / tpl@tivoli.dk

 

Attachments

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Cookie Notice

We use cookies to improve your experience on our website

Information we collect about your use of Goldea Capital website

Goldea Capital website collects personal data about visitors to its website.

When someone visits our websites, we use a third party service, Google Analytics, to collect standard internet log information (such as IP address and type of browser they’re using) and details of visitor behavior patterns. We do this to allow us to keep track of the number of visitors to the various parts of the sites and understand how our website is used. We do not make any attempt to find out the identities or nature of those visiting our websites. We won’t share your information with any other organizations for marketing, market research or commercial purposes and we don’t pass on your details to other websites.

Use of cookies
Cookies are small text files that are placed on your computer or other device by websites that you visit. They are widely used to make websites work, or work more efficiently, as well as to provide information to the owners of the site.