SkiStar Year-End Report September 2021-August 2022
RECORD FULL-YEAR RESULT – STRONG SEASON EXPECTED
Fourth Quarter
Net sales for the fourth quarter were SEK 224 (184) million, an increase of SEK 40 million (22 percent) compared with the previous year.
Profit/loss after tax for the fourth quarter was SEK -212 (80) million, a decline of SEK 292 million (364 percent) compared with the previous year, which was positively affected by a capital gain of SEK 198 million on property transactions.
Earnings per share amounted to SEK -2.70 (-0.87).
Full Year
Net sales for the full year were SEK 4,092 (2,689) million, an increase of SEK 1,404 million (52 percent) compared with the previous year.
Profit after tax was SEK 665 (234) million, an increase of SEK 431 million (184 percent) compared with the previous year.
Earnings per share amounted to SEK 8.50 (3.04), an increase of 180 percent.
The Board recommends a dividend that is twice as much as the previous year, i.e. SEK 3.00 (1.50) per share, corresponding to a total of SEK 235 (118) million.
Significant events during and after the period
Strong demand for mountain holidays all year round and the easing of travel restrictions contributed to increased revenue from core operations during the financial year. All destinations had record visitor numbers during the winter season, resulting in both a higher number of skier days and record sales of all products related to alpine skiing, such as SkiPass, ski rental and sporting goods outlet sales.
Bookings for the winter season are seven percent higher than at the same point before 2019/20, i.e. the season before the pandemic.
SkiStar is investing over SEK 600 million in the core business for 2022/23 in order to increase the attractiveness of the Company’s resorts and to meet continuing strong demand from guests. In addition to operational investments, SkiStar has acquired an area of land totaling 400 hectares in Vemdalen which is ideal for continuing development of the popular Vemdalen mountains.
Comments from the CEO Stefan Sjöstrand:
The future looks bright, with a continuation of the very strong demand for active holidays in the Scandinavian mountains: Bookings for the winter season are seven percent higher than at the same point before the 2019/20 season, i.e. before the pandemic, despite the instability in the outside world.
Conference call and web presentation
In connection with 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.
Tuesday 4 October 2022 at 10.00 a.m. CET. Dial-in number(s):
SE: +46856642692,
NO: +4723963688,
UK: +443333009268,
US: +16467224903.
Web cast: https://financialhearings.com/event/43425. 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. This information was submitted for publication, through the agency of the contact persons set out below, at 4 October 2022, 07.15 a.m. CET.
Further information can be reached from:
Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.
Anders Örnulf, 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.
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