SkiStar AB Interim Report September 2023 – November 2023

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

EARLY WINTER AND GREAT INTEREST IN SKI HOLIDAYS IN SCANDINAVIA

First Quarter

  • Net sales for the first quarter increased by SEK 43 million, 24 percent, to SEK 220 million (177).
  • Operating profit for the first quarter amounted to SEK -464 million (-451), a decline of SEK 13 million, -3 percent.
  • Capital gains from exploitation operations included SEK 0 million (1).
  • Earnings per share, basic and diluted, amounted to SEK -4.89 (-4.98).

Significant events during and after the period

  • Strong demand for mountain holidays ahead of the 2023/24 winter season with a booking rate, measured in the number of overnight stays in SkiStar’s mediated accommodation, of +9 percent compared with the same period of the previous year.
  • The early start to the season with all destinations open for skiing in November resulted in both increased income and costs during the quarter.
  • On 12 October, SkiStar organised a capital market day in conjunction with the announcement of the Group’s new financial targets and dividend policy. The new financial targets focus on growth, operating margin and debt.
  • During the quarter, SkiStar acquired Trysilguidene AS, with ski school operations in Trysil, as well as Klövsjö Sportshop Fastighet AB.
  • At the AGM in Sälen on 9 December, the decision was taken to pay a dividend of SEK 2.60 per share.

Comments from the CEO Stefan Sjöstrand:

“The early start of the winter season has led to a high demand from our guests, and the bookings are 9 percent higher than previous year, meaning that more than 80 percent of the season’s estimated accommodation sales are already booked.”

Conference call and web presentation

Tuesday 19 December 2023 at 10.00 a.m. CET.
Web cast: https://financialhearings.com/event/46755

For registration and dial-in details, please follow the link above. Please make sure you are connected to the phone conference by calling in and registering a few minutes before the conference begins.
The presentation and a recorded version of the web presentation will be available on the same webpage after the presentation.

This information is information that SkiStar AB is obliged to make public pursuant to the EU Market Abuse Regulation. This information was submitted for publication, through the agency of the contact persons set out below, on 19 December 2023, at 07.00 a.m. CET.

Further information can be reached from:

Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.
Martin Almgren, CFO, tel +46 (0)280 841 60.

SkiStar in brief

SkiStar AB (publ) is listed on the Mid Cap list of the Nasdaq Stockholm exchange. The Group owns and operates mountain resorts in Sälen, Vemdalen, Åre and Stockholm (Hammarbybacken) in Sweden and in Hemsedal and Trysil in Norway. Operations are divided into three segments: Operation of Mountain Resorts, Property Development & Exploitation and Operation of Hotels. As the leading holiday tour operator for Scandinavia, SkiStar’s business concept is to create memorable mountain experiences, develop sustainable destinations, offer accommodation, activities, products and services of the highest quality with our guests in focus. For further information, please visit www.skistar.com/en/corporate.

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