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Record profits once again thanks to great interest in alpine skiing

Press Release   •   Mar 21, 2018 07:06 GMT

Coming up: Alpine World Ski Championships in Åre 2019

Winter arrived early this season – the cold and snow have continued, which led to SkiStar’s resorts being in full operation for essentially the entire period. This is the underlying reason that SkiStar can present the best half-year results in its history.

Comments from the CEO Mats Årjes

During the period, which includes Christmas and New Year’s as well as much of the Swedish winter school holidays, the number of skier days increased by 5 percent compared with the same period last year. It is also gratifying that business continues to grow between the holiday periods.

Bookings for the remainder of the season are 6 percent higher than at the same time last year. A relatively early Easter means focusing on filling the weeks after Easter. Given the current snow situation at our resorts, we are convinced that we will be able to offer fantastic skiing experiences for the remainder of the season.

We are happy to see that SkiStar’s customer club MySkiStar continues to grow; the number of registered members is now over 750,000. We also launched an updated and improved SkiStar app at the end of February.

At our resort in Hemsedal we opened the SkiStar Lodge Hemsedal Suites, which was very well received by our guests. At St. Johann in Tirol, we opened our new gondola lift, which means that capacity has been further improved since our establishment in Austria in 2016/17.

With a strong first half of the year behind us, our focus is not only on getting through the rest of the season but also on starting to plan for 2018/19. Through title sponsorship of the Alpine World Ski Championships in Åre 2019, we are taking the initiative to win new foreign guests.

We will also continue to invest in Sälen and Trysil due to the construction of Scandinavian Mountains, the new airport between Sälen and Trysil. The timetable for the first plane to land in December 2019 still stands.

Half-Year Report - September 2017 - November 2018

Second Quarter

  • Revenue for the second quarter was SEK 1,342 (1,241) million, an increase of SEK 101 million (8 percent) compared with the previous year.
  • Profit after tax was SEK 542 (480) million, an increase of SEK 62 million (13 percent) compared with previous year.
  • Earnings per share, basic and diluted, amounted to SEK 13.58 (12.07), an increase of 13 percent.

First six months

  • Revenue for the first six months was SEK 1,488 (1,358) million, an increase of SEK 130 (10 percent) compared with the previous year.
  • Profit after tax was SEK 363 (273) million, an increase of SEK 90 million (33 percent) compared with the previous year.
  • Earnings per share, basic and diluted, amounted to SEK 9.18 (6.92), an increase of 33 percent.

Further information can be reached from:

Mats Årjes, CEO tel +46 (0)280 880 80

Anders Örnulf, CFO tel +46 (0)280 880 80

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 persons set out below, at 21 March 2018, 07.30 a.m. CET.

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 41% 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.

Images and videos in SkiStar's Newsroom can be freely used along with information about SkiStar and/or SkiStar's destinations and products.

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