SKISTAR ANNOUNCES ITS BEST HALF-YEAR RESULT:
– RECORDS OF VISITS AND SALES AT THE ORIGIN OF SUCCESS
second quarter
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Second quarter net sales increased by SEK 850 million, or 64%, to SEK 2,178 (1,328) from a year earlier.
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Profit after tax amounted to SEK 752 (365) million for the second quarter, an increase of SEK 387 million or 106%, compared to the previous year.
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Earnings per share amounted to SEK 9.62 (4.70), an increase of 105%.
first six months
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Net sales for the first six months of the year amounted to SEK 2,333 (1,482) million, an increase of SEK 851 million (57%) over the previous year.
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Profit after tax for the first six months of the year increased by SEK 323 million (283%) to SEK 438 million (114) compared to the previous year.
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Earnings per share amounted to SEK 5.61 (1.58), an increase of 256%.
Significant events during the period and after the end of the period
• Strong demand for mountain vacations and easing of travel restrictions contributed to higher core business revenue. All destinations recorded record attendance, both during school holidays and in between periods. This resulted both in an increase in the number of skier days and in record sales of all alpine skiing-related products, such as the SkiPass, ski hire and sales at points of sale of sport.
• Bookings for the rest of the winter season are 9% higher than for the 2018/19 seasons, i.e. before the pandemic.
• The sale of the company’s shares in the Austrian subsidiary St. Johann in Tirol was finalized in January.
• SkiStar is investing more than half a billion Swedish kronor in core operations over the next year to increase the attractiveness of the company’s facilities and meet continued strong customer demand.
• Sport Lodgen, Trysil’s most attractive sporting goods outlets which were acquired by SkiStar during the quarter, has been integrated into the business.
Comments from CEO Stefan Sjöstrand:
As we summarize parts of the winter season and the first six months of SkiStar’s 2021/22 financial year, it is extremely gratifying to be able to report the best half-year result in the company’s history. This growth is mainly explained by the growth of our main activities, thanks to a record number of ski visitors in our destinations. This resulted both in an increase in the number of skier days and in record sales of all products linked to alpine skiing, such as the SkiPass, ski rental and sales at points of sale of sport.
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 focused on year-round active holidays. For this reason, our recovery from the more difficult pandemic years has been faster than expected.
Conference call and web presentation
As part of 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.
Thursday, March 17 at 10:00 a.m. CET. Telephone number(s):
SE: +46850558358,
UK: +443333009268,
USA: +16467224903.
Webcast: https://financialhearings.com/event/43423. The presentation and a recorded version of the web presentation will be available on the same web page after the presentation.
This information is information that SkiStar AB is required to make public in accordance with the EU Market Abuse Regulation and Securities Markets Act. The information was submitted for publication, through the contact persons listed below, on March 17, 2022, 07:15 CET.
Further information can be obtained from:
Stefan Sjöstrand, CEO, tel. +46 (0)280 841 60.
Anders Örnulf, CFO, tel. +46 (0)280 841 60.
Ski Star in brief
SkiStar AB (publ) is listed on the Mid Cap list of the Nasdaq stock exchange in Stockholm. 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, Development and Operation of Properties and Operation of Hotels. As the leading holiday tour operator in Scandinavia, SkiStar’s business concept is to create memorable mountain experiences, develop sustainable destinations, offer the highest quality accommodation, activities, products and services in focusing on our customers. For more information, visit www.skistar.com/en/corporate.
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