Press release -
Successful winter season continues in third quarter
Interim report
September 2015 – May 2016
Third quarter
- Revenue for the third quarter increased marginally to SEK 678 (678) million compared with the previous year.
- Profit after tax was SEK 229 (177) million, an increase of SEK 52 million (29 percent) compared with the previous year.
- Earnings per share, basic and diluted, amounted to SEK 5.84 (4.50), an increase of 29 percent.
- Negative goodwill of SEK 42 million arising from the acquisition of the Austrian ski resort St Johanner Bergbahnen has been recognised as revenue.
Nine-month period
- Revenue for the nine-month period was SEK 1,875 (1,817) million, an increase of SEK 58 million (3 percent) compared with the previous year.
- Profit after tax was SEK 449 (370) million, an increase of SEK 79 million (21 percent) compared with the previous year.
- Earnings per share, basic and diluted, amounted to SEK 11.45 (9.45), an increase of 21 percent.
Comments from the CEO
After a late start to the season due to mild weather, business gained momentum from the Christmas and New Year holidays. More guests in January, mainly due to Valle’s Winter Weeks and SkiStar Business, combined with good winter and Easter breaks, contributed to the improved results. A weak Norwegian krone has brought an increased inflow of foreign guests, mainly from the Danish market. We have also seen a significant rise in UK visitors to our Norwegian ski resorts. The number of skier days (one day’s skiing with a SkiPass) increased from 4.9 million to 5.1 million during the winter season, while the number of booked overnight stays increased by 5 percent to 524,000. We are extremely pleased to have experienced such a fine winter season together with our guests.
We participated in a new share issue of EUR 10 million in the Austrian ski resort of St Johann in Tirol during the third quarter and we currently own 68 percent of the shares. We are working flat out to ensure that St Johann is bookable in our systems and to introduce MySkiStar. We will also focus on investing in guaranteed snow at St Johann for the upcoming season.
Bookings for the next winter season are 10 percent higher than at the same point in the previous year. We look forward to another good winter season.
Go to our interim report for September 2015 – May 2016
Further information is available from:
Mats Årjes, CEO
Phone: +46 (0)280 880 80
Magnus Sjöholm, CFO
Phone: +46 (0)280 880 90
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SkiStar in brief:
SkiStar is listed on the Nasdaq Mid Cap, Stockholm. The Group owns and operates alpine destinations in Sälen, Åre, Vemdalen and Hammarbybacken (Stockholm) in Sweden, Hemsedal and Trysil in Norway and St. Johann in Tirol in Austria. Market share is 50% in Sweden, 31% in Norway and 42% in Scandinavia. The Group’s core business is alpine skiing, with a focus on the guests’ overall skiing experience. Operations are divided into three segments; Ski Resorts – Operation, Infrastructure and Exploitation.
