NEW RECORD PROFITS AND SUSTAINED STRONG STAYCATION TREND
Third Quarter
- Net sales for the third quarter were SEK 1,536 (1,023) million, an increase of SEK 513 million (50 percent) compared with the previous year.
- Profit after tax was SEK 439 (39) million for the third quarter, an increase of SEK 400 million or 1,022 percent compared with the previous year.
- Earnings per share amounted to SEK 5.60 (0.60).
First Nine Months
- Net sales for the nine-month period increased to SEK 3,868 (2,505) million, an increase of SEK 1,363 million (54 percent) compared with the previous year.
- Profit after tax was SEK 876 (153) million, an increase of SEK 723 million (471 percent) compared with the previous year.
- Earnings per share amounted to SEK 11.21 (2.17), an increase of 416 percent.
Significant events during the period and after the end of the period
- SkiStar has decided to make further investments ahead of the coming financial year. SEK 67 million is being invested in new summer activities for the company’s destinations. This is in addition to the previously communicated investments for the next financial year of SEK 555 million, which include extensive investments in replacements and modernisations with an extra focus on snow capacity, as well as new lifts in order to wind-proof SkiStar Åre.
- For the first time, SkiStar had over six million skier days at its destinations during the winter season. The number of skier days totalled 6,031,000, which represents a ten-percent increase compared with the previous record season in 2018/19.
Comments from the CEO Stefan Sjöstrand:
As we review the winter season, we can say that SkiStar has produced its best nine-month result ever, with profit before tax of SEK 1,134 million, an improvement of SEK 883 million year-on-year. We have had an incredibly strong growth in all mountain products such as SkiPass, up 54 percent, ski rental, up 78 percent, together with record sales in our sporting goods operations, up 38 percent. This shows that the interest in our core business – alpine skiing in the Scandinavian mountains – remains extremely strong.
Regarding SkiStar Sports & Adventures, which offers an active holiday for the whole family in summer, we are seeing a positive trend once again this year with bookings up nine percent, measured in the number of booked overnight stays via SkiStar, compared to the same period last year.
Conference call and web presentation
In connection with the report SkiStar will organize a conference call with web presentation. CEO Stefan Sjöstrand and CFO Anders Örnulf will present and comment on the report.
Friday 17 June 2022 at 10.00 a.m. CEST. Dial-in number(s):
SE: +46 8 519 993 83,
NO: +47 235 002 36,
UK: +44 33 330 090 31,
US: +1 64 672 249 04.
Web cast: https://financialhearings.com/event/43424. 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. The information was submitted for publication, through the agency of the contact persons set out below, at 17 June 2022, 07.15 a.m. CEST.
Further information can be reached from:
Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.
Anders Örnulf, 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.