Interim Report for the Period 1 January – 31 March 2016
The Supervisory Board of Tivoli A/S has at the board meeting considered and adopted the Interim Report for the period 1 January – 31 March 2016.
Results at 31 March 2016 in outline:
- Revenue including tenants and lessees: DKK 98.9 million compared to DKK 122.6 million last year (-19 %).
- Revenue excluding tenants and lessees: DKK 86.4 million compared to DKK 100.9 million last year (-14 %).
- EBITDA: DKK -50.5 million compared to DKK -43.4 million last year (-16 %).
- EBIT: DKK -72.1 million compared to DKK -64.2 million last year (-12 %).
- Profit before tax: DKK -73.0 million compared to DKK -65.6 million last year (-11 %).
- Profit after tax: DKK -57.7 million compared to DKK -49.5 million last year (-17 %).
“There has been less activity in Tivoli’s Concert Hall and the Glass Hall Theatre, during the first quarter compared to last year. For example, this year’s big musical Hairspray premiered later in the year compared to last year’s successful musical Dirty Dancing. The impact of this has been a decline in first quarter’s revenue excluding tenants and lessees of DKK 14.5 million compared to the same period last year.
We find the result for the period satisfactory, taking the expected revenue decline, into consideration.” says CFO, Andreas Morthorst.
Expectations for 2016
The weather and other external factors may have great impact on Tivoli’s business and thus the development in profit for the year. 2016 revenue is expected to be at the 2015 level (approximately DKK 900 million), and a profit before tax between DKK 60 and 70 million.
Yours sincerely
Jørgen Tandrup Lars Liebst
Chairman of the Supervisory Board CEO
Contact person: Dorthe Barsøe, Director, Brand and Communications (tel +45 33 75 02 11 / dwb@tivoli.dk)
