STABLE GROWTH IN TURNOVER - HIGH BOOKING RATE FOR THE WINTER
Fourth Quarter
- Net sales for the fourth quarter increased by SEK 121 million (54 percent) to SEK 345 (224) million.
- Operating profit for the fourth quarter amounted to SEK -230 (-265) million, an improvement of SEK 35 million (13 percent).
- Capital gains from exploitation operations included SEK 63 (-4) million.
- Earnings per share before and after dilution amounted to SEK -2.64 (-2.70).
Full Year
- Net sales for the full year were SEK 4,281 (4,092) million, an increase of SEK 189 million (5 percent).
- Operating profit for the full year decreased by SEK 280 million (32 percent) to SEK 604 (884) million.
- Earnings per share before and after dilution amounted to SEK 5.13 (8.50), a decrease of 40 percent.
- Capital gains from Property Development and Exploitation operations included SEK 75 (57) million.
- The Board proposes a dividend of SEK 2.60 (3.00) per share, totalling SEK 204 (235) million. The dividend represents 51 (36) percent of the Group's profit after tax.
Significant events during and after the period
• Strong demand for mountain holidays ahead of the 2023/24 winter season with a booking rate, measured in the number of overnight stays in SkiStar's accommodation agency, of +7 percent compared with the same period of the previous year.
• New organisation structures have been in place since 1 September 2023 in order to implement more efficient and long-term ways of working on our year-round operations with adaptive costs. Lina Gabrielson, Hotel & Lodge Director, joined the group management on the same date and at the same time as Petra Hallebrant, Communications and Sustainability Director, left the group management.
• After the end of the financial year, SkiStar completed the acquisition of Trysilguidene AS, with ski school operations in Trysil, as well as a property for sportshop operations in Klövsjö, Vemdalen.
Comments from the CEO Stefan Sjöstrand:
"Our transformation into a year-round company continues with a stable growth in turnover. We increased the proportion of activity days during the period by 16 percent and we continue to see high demand with a booking rate of +7 percent for the forthcoming winter season."
Conference call and web presentation
Tuesday 3 October 2023 at 10.00 a.m. CET.
Web cast: https://financialhearings.com/event/44267
For registration and dial-in details, please follow the link above. Please make sure you are connected to the phone conference by calling in and registering a few minutes before the conference begins. The presentation and a recorded version of the web presentation will be available on the same webpage after the presentation.
This information is information that SkiStar AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 3 October 2023, 07.00 a.m. CET.
Further information can be reached from:
Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.
Martin Almgren, CFO, tel +46 (0)280 841 60.
SkiStar in brief
SkiStar AB (publ) is listed on the Mid Cap list of the Nasdaq Stockholm exchange. 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, Property Development & Exploitation and Operation of Hotels. As the leading holiday tour operator for Scandinavia, SkiStar's business concept is to create memorable mountain experiences, develop sustainable destinations, offer accommodation, activities, products and services of the highest quality with our guests in focus. For further information, please visit www.skistar.com/en/corporate.
