The Supervisory Board of Tivoli A/S has considered and adopted the Interim Report for the period 1 January –30 September 2019.
Results for the period 1 January –30 September 2019 in outline:
- Net revenue: DKK 742.4 million compared to 741.8 million last year (+0%)
- EBITDA: DKK 126.0 million compared to DKK 125.7 million last year (+0%)
- The above mentioned profit is affected by the transfer of the operations of TivoliCasino.dk (DKK 134.5 million) to Danske Spilincluded under "special items" and organizational expenses and impairment on fixed assets of DKK -8,0 million.
- EBIT: DKK 178.5 million compared to DKK 58.7 million last year. Adjusted for special items, cf. above, is the operating profit DKK 6.7 million lower than last year (-11%)
- Profit before tax: DKK 169.4 million compared to DKK 51.0 million last year. Adjusted for special items, cf. above, is the profit before tax DKK 8.1 million lower than last year (-16%)
- Profit after tax: DKK 132.1 million compared to DKK 39.8 million last year.Adjusted for special items, cf. above, is the profit after tax DKK 6.3 million lower than last year (-16%)
- Number of guests amounted to 3,023,000 compared to 3,307,000 last year (-9%)
"The revenue in the nine months has been the same level as last year in spite of a negative accounting effect of the new Tivoli Card, 13 fewer opening days and fewer guests in the halls than in 2018, where the musical "Midtom Natten" gathered full houses. The positive development is caused by an increased spend per guest and an increased level of activityatNimb. The accounting profit is expected to be the best ever in the history of Tivoli du to the transfer of the operation of TivoliCasino.dk to Danske Spil. The profit is a bit lower than last year when adjusted for special items, which is due to the expansion of the new season, Winter in Tivoli and higher depreciation because of larger investments in the Gardens", says CFO, Andreas Morthorst.
Outlook for 2019 (unchanged)
In 2019, revenue is still expected to be in line with 2018 and a profit before tax and after extraordinary items in the levelofDKK 220 million against DKK 121 million before tax. The profit has been positively affected by the partnership agreement with Danske Spilcf. mention in the stock exchange announcement of 9 May 2019. The weather and other external events may have influence on Tivoli’s core business and therefore the development of the result of the year.
Best regards
Tom Knutzen Lars Liebst
Chairman CEO
Contactperson: Head of press, Torben Plank, 22237440 / tpl@tivoli.dk
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