SkiStar Issues Half-Year Report September 2021-February 2022

SkiStar has issued its half-year report for the period September 2021-February 2022

Second Quarter

• Net sales for the second quarter increased by SEK 850 million – 64 percent – to SEK 2,178 (1,328) compared with the previous year.
• Profit after tax was SEK 752 (365) million for the second quarter, an increase of SEK 387 million or 106 percent, compared with the previous year.
• Earnings per share amounted to SEK 9.62 (4.70), an increase of 105 percent.

First Six Months

• Net sales for the first six months of the year were SEK 2,333 (1,482) million, an increase of SEK 851 million (57 percent) compared with the previous year.
• Profit after tax for the first six months of the year increased by SEK 323 million (283 percent) to SEK 438 million (114) compared with the previous year.
• Earnings per share amounted to SEK 5.61 (1.58), an increase of 256 percent.

Significant events during the period and after the end of the period

• Strong demand for mountain holidays together with eased travel restrictions contributed to higher revenue in core operations. All destinations had record visitor numbers, both during the school holidays and in the periods between them. This has led to both increased number of skier days and record sales of all products linked to alpine skiing, such as the SkiPass, ski rental and sales from sporting goods outlets.
• Bookings for the rest of the winter season are nine percent higher than the 2018/19 seasons, i.e. pre-pandemic.
• The sale of the company’s shares in the Austrian subsidiary St. Johann in Tirol was completed in January.
• SkiStar is investing more than half a billion Swedish kronor in the core operations over the next year in order to increase the attractiveness of the company’s facilities and to meet guests’ continuing strong demand.
• Sport Lodgen, Trysil’s most attractive sporting goods outlets that were acquired by SkiStar during the quarter, has been integrated in the business.

Comments from the CEO Stefan Sjöstrand who said "As we summarise parts of the winter season and SkiStar’s first six months of the 2021/22 financial year, it is extremely gratifying that we can report the best half-year result in the company’s history. This was primarily driven by growth in our core operations, thanks to a record number of skiing visitors to our destinations. This has led to both increased number of skier days and record sales of all products linked to alpine skiing, such as the SkiPass, ski rental and sales from sporting goods outlets.

We are emerging stronger as a company thanks to our change in strategy: From SkiStar the winter ski resort company to the mountain tourism company focusing on an active holiday all year round. Due to this, our recovery following the more challenging pandemic years has come faster than expected."