In This Article:
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Organic Growth: 5% for the quarter, with an increased operating margin of 23.8%.
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Net Sales: SEK3 billion for the first half year, up 5% year-on-year.
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Skier Days: 4.6 million, up 3% year-on-year.
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SkiPass Revenue Growth: 10%, driven by volume and price.
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Accommodation Revenue Growth: 6%, despite a 3% decrease in the number of objects.
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Retail Revenue Increase: SEK22 million, with online sales driving a 7% uplift.
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Operating Profit: SEK718 million for the half year, up from SEK601 million last year.
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Operating Margin: 17.2% for the last 12 months.
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Cash Flow from Operating Activities: SEK1.4 billion for the second quarter.
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CapEx: SEK72 million for the quarter, with an estimated total of SEK500-550 million for the year.
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Net Debt/EBITDA Ratio: 0.6x, indicating a strong financial position.
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Interest Bearing Debt: SEK704 million, significantly lower than last year.
Release Date: March 19, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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SkiStar AB (FRA:3AJ) reported its best second quarter ever, driven by high interest in skiing holidays and favorable calendar effects during the Christmas holidays.
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The company achieved an organic growth of 5% with an increased operating margin of 23.8%, and an underlying growth in the ski operation business of 8%.
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SkiStar AB (FRA:3AJ) experienced a record number of skier days, reaching 4.6 million, supported by a strong international customer base.
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The company is expanding its capacity with new construction projects, including 500 new beds in Salen and a new gondola in Trysil, enhancing future growth potential.
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SkiStar AB (FRA:3AJ) continues to focus on sustainability, joining the global sustainability Ski Alliance and investing in electric vehicles and groomers.
Negative Points
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The company faces challenges with warmer weather impacting costs for snow preparation and staffing, leading to higher operational expenses.
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There is a slowdown in digital platform conversion rates, partly due to difficulties in filling bookings for the Easter period.
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Retail growth has slowed, primarily due to lower demand for weather-related products, although the company is gaining market share.
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SkiStar AB (FRA:3AJ) anticipates not reaching its capital gains target of SEK75 million to SEK100 million this year due to delays and market conditions.
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The company is experiencing a booking shortfall for weeks 14 and 15, leading up to Easter, which could impact financial performance.
Q & A Highlights
Q: Can you provide details on the CapEx outlook, specifically regarding the SEK500 million investment and how much of it includes the Trysil gondola? A: The SEK500 million CapEx includes the Trysil gondola, as well as investments in Hovde Syd and Getvalsliften. These are part of this year's investments. We've improved our investment prioritization compared to the past three years.