Good bookings and early start to the season

Press Release   •   Dec 21, 2016 07:19 GMT

Interim Report

September – November 2016

First quarter

  • Revenue for the first quarter was SEK 117 (82) million.
  • Profit/loss after tax was SEK -207 (-182) million.
  • Earnings per share, basic and diluted, amounted to SEK -5.15 (-4.64).
  • Consolidation of St. Johanner Bergbahnen GmbH has had an effect of SEK -12 million on profit after tax in the first quarter 2016.

Comments from the CEO

Early snow and cold have enabled us to open all our ski resorts earlier than in the previous year and everything is in place for good skiing conditions over Christmas and the New Year. Bookings for the next winter season are 1 percent higher than at the same point in the previous year. Bookings for Christmas week are slightly down due to fewer days off, while bookings for the weeks between New Year and the winter break, and the winter break itself, are up on the previous year. The period after the winter holidays shows a decline in bookings as a result of the late Easter, which means later booking patterns. We should also bear in mind that last year’s bookings at the same point in time were the strongest ever. About 80 percent of the season’s estimated accommodation sales have already been booked.

The modern new Skihytta Express chairlift in Trysil is opening soon. The new lift will significantly improve our Trysil guests’ comfort and experience. For the 2017/18 season, we have decided to build a new gondola lift in St. Johann with snowmaking systems at adjacent slopes for a total of EUR 17 million. The investment brings St. Johann a greatly improved ski product for beginners, children and more advanced skiers. We still await a positive decision from the EU concerning public funding for Scandinavian Mountains, the airport between Sälen and Trysil. The schedule for the first planes to land in December 2018 remains unchanged.

We confidently look forward to another good winter season at our destinations in Sweden, Norway and now Austria as well.

This information is information that SkiStar AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 21 December 2016, 07.30 a.m. CET.

Further information is available from:

Mats Årjes, CEO +46 (0)280 880 80

Magnus Sjöholm, CFO +46 (0)280 880 90

SkiStar in brief:

SkiStar AB (publ.) is listed on the Nasdaq Stockholm stock exchange, Mid Cap segment. The group owns and operates ski resorts 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 a total of 42% in Scandinavia. Our core business is alpine skiing, and our main focus is the overall ski experience of our guests. The business is divided into three segments; Ski resorts – Operation, Infrastructure and Development.

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