Successful Growth and Performance Update from SkiStar AB
A GROWING NUMBER OF SATISFIED GUESTS, GOOD WINTER CONDITIONS AND GREAT INTEREST IN SKIING HOLIDAYS
Second Quarter Highlights
The second quarter of operations has shown promising results at SkiStar AB. Net sales rose impressively by SEK 157 million, marking a 6 percent increase, reaching a total of SEK 2,787 million compared to SEK 2,630 million last year.
Operating Profit Analysis
Operating profit likewise saw a significant uplift, increasing by SEK 135 million or 13 percent, yielding an operating profit of SEK 1,200 million, up from SEK 1,065 million.
Cash Flow Insights
Cash flow from operating activities improved by SEK 66 million, now totaling SEK 1,422 million, showcasing solid operational efficiency.
Earnings Per Share Growth
The basic and diluted earnings per share also experienced a positive trend, amounting to SEK 11.84, reflecting a 14 percent rise from SEK 10.43.
First Half-Year Performance
The first half-year performance has been equally impressive. Net sales in this period increased by SEK 150 million, equivalent to a growth of 5 percent, culminating in total sales of SEK 3,000 million against last year’s SEK 2,850 million.
Operating Profit Surge
Operating profit surged even further, showing an increase of SEK 117 million, translating to a remarkable 20 percent growth for a total of SEK 718 million, compared to last year's 601 million.
Strong Cash Flow from Operations
For the first half-year, cash flow from operating activities went up by SEK 127 million, reaching SEK 1,705 million, reflecting strong demand and operational stability.
Earnings Per Share Performance
Basic and diluted earnings per share in the first half stood at SEK 6.58, an increase from SEK 5.53, highlighting the financial health of the company.
Significant Developments and Outlook
Several noteworthy events have occurred during and after the reporting period. Booking volumes for the remaining 2024/25 winter season, indicated by the number of overnight stays, are reported to be down by 5 percent compared to the previous year. This is primarily due to the Easter holidays falling later this year, affecting seasonal bookings.
Future Booking Trends
Encouragingly, the booking volumes for the upcoming 2025/26 winter season are showing a 5 percent increase compared to the same period last year, with 15 percent of the total seasonal volumes already booked.
Leadership Changes
A significant leadership change occurred as Sara Jinnerot Uggelberg stepped into the role of CFO on 1 February 2025, following Martin Almgren's departure from the position. This transition marks a fresh chapter for SkiStar's financial strategy.
CEO Stefan Sjöstrand's Remarks
CEO Stefan Sjöstrand commented positively, stating, “With a favourable Christmas and New Year festive season, a rise in visitor numbers, impressive work by our employees, and good conditions for winter sports, it is gratifying to be able to report the best quarterly operating profit in the Company’s history.”
Conference Call and Web Presentation Details
For those interested, a conference call will take place on 19 March 2025 at 10:00 AM CET. Participation is encouraged for a detailed discussion on the results and future outlook. Please register a few minutes before the call starts.
Contact Information
For further inquiries or details, you may contact:
Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.
Sara J Uggelberg, CFO, tel +46 (0)280 841 60.
All About SkiStar AB
SkiStar AB (publ) is proudly listed on the Mid Cap list of the Nasdaq Stockholm exchange. The Group operates various mountain resorts, including Sälen, Vemdalen, Åre, and Stockholm’s Hammarbybacken, along with resorts in Norway such as Hemsedal and Trysil. The company is organized into three segments: Operation of Mountain Resorts, Property Development & Exploitation, and Operation of Hotels. Aiming to deliver exceptional mountain experiences, SkiStar focuses on developing sustainable destinations and providing high-quality accommodations and services.
Frequently Asked Questions
What are the recent financial highlights of SkiStar AB?
SkiStar AB reported substantial growth in net sales, operating profits, and earnings per share for both the second quarter and the first half-year.
How is the booking trend for the upcoming winter season?
Bookings for the upcoming 2025/26 winter season are up by 5 percent compared to the previous year.
What leadership change has occurred at SkiStar?
Sara Jinnerot Uggelberg has become the new CFO as of 1 February 2025.
When is the next conference call for SkiStar AB?
The next conference call is scheduled for 19 March 2025 at 10:00 AM CET.
What markets does SkiStar operate in?
SkiStar operates in Sweden and Norway, managing several mountain resorts tailored for skiing holidays.
