Skistar - Fantastic Winter Season Brings Increased Revenue And Record Results For The Nine-Month Period

Skistar - fantastic winter season brings increased revenue and record results for the nine-month period

Interim Report - September 2017 - May 2018

Third Quarter

Revenue for the third quarter was SEK 864 (858) million, an increase of SEK 6 million (1 percent) compared with the previous year.

Profit after tax was SEK 240 (264) million, a decrease of SEK 24 million (9 percent) compared with previous year.

Earnings per share, basic and diluted, amounted to SEK 6.18 (6.81), an increase of 9 percent.

First nine months

Revenue for the first nine months was SEK 2,352 (2,216) million, an increase of SEK 136 (6 percent) compared with the previous year.

Profit after tax was SEK 603 (537) million, an increase of SEK 66 million (12 percent) compared with the previous year.

Earnings per share, basic and diluted, amounted to SEK 15.36 (13.74), an increase of 12 percent.

Comments from the CEO Mats Årjes

"With winter behind us, we are once again able to present the best nine-month results in SkiStar’s history. As we look back on the season, we have been able to offer our guests fantastic skiing at all our destinations from when the season began in December right through to its end.

"The number of skier days (one day’s skiing with a SkiPass) was 5.8 million, an increase of more than 7 percent from the previous year. The improved results are mainly due to the increased guest volume. Not only our holiday periods, but also focus areas such as Valle’s Winter Weeks in January and SkiStar Business’ conference activities show continuing growth.

"Capital gains on our development projects are SEK 21 million lower than in the previous year but should be seen in the light of the fact that these projects are relatively irregular timewise. We do not see any slowdown in the interest of companies and individuals in investing in accommodation at our destinations.

"The number of booked overnight stays (through SkiStar) increased by almost 2.5 percent to 517,000. The main reason is the new apartment hotel SkiStar Lodge Hemsedal Suites, which opened ahead of the season and has been extremely well received by our guests.

"Planned investments for next season amount to approximately SEK 300 million and are mainly replacement and modernisation investments, but also include a new 8-chair express lift at Hundfjället in Sälen.

"There is much to look forward to in the next winter season, including development of the new Hundfjället in Sälen, where we are building new slopes and an extended snowmaking system as well as the above-mentioned express lift. SkiStar is also official title sponsor to the 2019 Alpine World Championships in Åre. This will be a great opportunity to show an international public what we can offer to skiers. Bookings for the next winter season are also higher than at the same time last year, and we look forward with confidence to another good winter season.

C"onstruction of the Scandinavian Mountains Airport, located between Sälen and Trysil, is well underway and on schedule. The first planes are expected to land in December 2019."