Press release -
Keen interest in mountain holidays and skiing
Comments from CEO Mats Årjes
After a late start to the season due to mild weather, the business gained momentum from the Christmas and New Year holidays. In summarising the first six months, we are pleased to present the best results in SkiStar's history. More guests in January, partly due to Valle’ s Winter Weeks and SkiStar Business, combined with a good winter half-term break contributed to the improved results. Booking volumes increased by 9 percent from the start of the season to the end of February. A weak Norwegian krone has contributed to an increased inflow of foreign guests, mainly from the Danish market.
Bookings for the remainder of the season are 1 percent higher than for the same period the previous year. An early Easter means a strong booking situation in March and the Company's focus is on improving bookings for April, which included Easter in the previous year.
The acquisition of the Austrian ski resort of St Johann in Tirol is proceeding according to plan. The ongoing due diligence process will be completed shortly and it is then our intention to participate in the new share issue which will bring St Johann EUR 10 million and make it a subsidiary of SkiStar. In St Johann, we have found a good ski resort that enables us to establish SkiStar in the Alps. We look forward with excitement to SkiStar’s continuing development and the rest of this fantastic winter season.
Further information is available from:
Mats Årjes, CEO+46 (0)280 880 80
Magnus Sjöholm, CFO (Acting)+46 (0)280 880 90
Topics
Categories
The SkiStar AB(publ) B shares are listed on the Mid Cap list of the Nasdaq Stockholm Exchange; the group owns and operates the ski resorts at the alpine skiing destinations Sälen, Åre and Vemdalen in Sweden together with Hemsedal and Trysil in Norway as well as Hammarbybacken in Stockholm. The market share in Sweden amounts to 51%, in Norway 30% and overall in Scandinavia 42%. The group’s core business is alpine skiing with the guests’ experience in focus. The list of other activities includes accommodation agency, ski schools and ski rentals.
