In This Article:
LOWER OPERATING PROFIT DURING THE THIRD QUARTER CHARACTERISED BY ONE-OFF COSTS
Third Quarter
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Net sales for the third quarter decreased by SEK 127 million (8 percent) to SEK 1,409 (1,536) million compared with the same period of the previous year.
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Operating profit for the third quarter amounted to SEK 353 (547) million, a decline of SEK 194 million (35 percent) compared with the same period of the previous year.
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The quarter included one-off costs of SEK 48 (0) million.
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Capital gains from exploitation operations included SEK 1 (51) million.
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Operating profit, adjusted for one-off costs and capital gains, amounted to SEK 400 (496) million, a decline of SEK 96 million (19 percent) compared with the same period of the previous year.
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Earnings per share before and after dilution amounted to SEK 3.43 (5.60), a decrease of 39 percent.
First Nine Months
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Net sales for the nine-month period increased to SEK 3,936 (3,868) million, an increase of SEK 68 million (2 percent) compared with the same period of the previous year.
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Operating profit for the nine-month period amounted to SEK 834 (1,149) million, a decline of SEK 315 million (27 percent) compared with the same period of the previous year.
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Operating profit, adjusted for one-off costs and capital gain, amounted to SEK 870 (1,088) million, which is a decrease of SEK 218 million (20 percent) compared with the same period of the previous year.
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Earnings per share before and after dilution amounted to SEK 7.77 (11.21), a decrease of 31 percent.
Significant events during and after the period
• SkiStar has decided to expand the investment frame and will invest a further SEK 120 million for the winter season 2023/24 in an express lift and a tow lift in southern Lindvallen, Sälen.
• A review of costs is in progress and reorganisation will take place on 1 September with the aim of achieving more efficient working methods for the year-round operations to counteract increased costs and contribute to better profitability.
• Strong demand for mountain holidays ahead of the 2023/24 season with a booking rate, measured in the number of booked overnight stays in SkiStar’s accommodation, of +5 percent compared to the same period of the previous year.
Comments from the CEO Stefan Sjöstrand:
“The lower operating profit in the quarter is mainly driven by a decline in revenue and one-off costs. For the coming winter we have a booking rate of +5 percent.”
Conference call and web presentation
Tuesday 20 June 2023 at 10.00 a.m. CEST.
Web cast: https://financialhearings.com/event/44266
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.