Comments from the CEO Mats Årjes
Winter has arrived at our destinations and from week 49, all our ski resorts have opened for the season with good snow conditions. In addition to a covering of natural snow, the conditions for snow production have been good. Bookings, expressed as the number of overnight stays, are 2 percent higher than at the same point in the previous year, meaning that over 80 percent of the season’s estimated accommodation sales have already been booked. The biggest increase can be seen in weeks 11-18.
In the last few days, the new gondola lift and the six-seater express lift in St. Johann has been put into service, together with a new snow cannon system in the area. This EUR 17 million investment will mean an improved ski product for beginners and advanced skiers alike.
We see continuing strong demand for land, apartments and weekly shares at our destinations.
Construction work at the Scandinavian Mountains Airport, located between Sälen and Trysil, is continuing as planned, meaning that the first aircraft is expected to land before the winter season 2019/20.
- Revenue for the first quarter was SEK 146 (117) million, an increase of SEK 29 million (25 percent) compared with the previous year.
- Profit after tax was SEK -179 (-207) million, an increase of SEK 28 million (14 percent) compared with the previous year.
- Earnings per share, basic and diluted, amounted to SEK -4.39 (-5.15), an improvement of 15 percent.
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 20 December 2017, 07.30 a.m. CET.
Further information can be reached from:
Mats Årjes, CEO tel +46 (0)280 880 80
Bo Eriksson, acting CFO tel +46 (0)280 880 81
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.
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