Tivoli lowers expectations for revenue and pre-tax profit
In connection with the preparation of the half-year report for the period April
1 - Sep-tember 30, company management does not think that previously announced
forecasts can be met.
• The forecast group revenue for the 2007/08 financial year is reduced from DKK
590-610 million to group revenue in the order of DKK 570-585 million.
• The forecast profit before tax for the 2007/08 financial year is reduced from
DKK 50-60 million to the level of DKK 30-40 million.
The reason for the downward adjustment is partly the result of an 8% decline in
the number of visitors in the course of the summer season and partly the result
of lost arbi-tration regarding the termination of two leaseholds. As a
consequence of the arbitration Tivoli has to pay a total of DKK 9.7 million in
compensation, acquisition, costs, and inter-ests
The downward adjustment illustrates Tivoli's current seasonal dependency. As
mentioned in the Annual Report for 2006/07, Tivoli's management is labouring
hard to move Tivoli from being a seasonal enterprise to an all-year enterprise
with greater risk distribution across more activities and an improved use and
higher financial yield from Tivoli's rim area.
At the same time, the company has decided to advance the announcement of the
half-year report from November 27 to October 29 2007.
Yours sincerely,
Lars Liebst
Managing Director
Contact:
Stine Lolk, Head of Communication (Tel: +45 33 75 03 38 / sl@tivoli.dk)
