The Supervisory Board of Tivoli A/S has considered and adopted the Interim Report for the period 1 January – 31 March 2019.
Results for the period 1 January – 31 March 2019 in outline:
•Net revenue: DKK 110.0 million compared to 117.9 million last year (-7%)
•EBITDA: DKK -47.9 million compared to DKK -40.8 million last year (-17%)
•EBIT: DKK -73.3 million compared to DKK -63.0 million last year (-16%)
•Profit before tax: DKK -76.3 million compared to DKK -65.8 million last year (-16%)
•Profit after tax: DKK -59.5 million compared to DKK -51.3 million last year (-16%)
•Number of guests is 253,000 compared to 385,000 last year (-34%)
”As expected, the level of activity is lower than 2018 because of fewer opening days due to the Easter being in the first quarter in 2018 and that Tivoli in 2018 had many guests in The Halls attending the play ”Midt om Natten”. Because of the lower activity and an increased investment in the new season, Winter in Tivoli, the result is lower than 2018, as expected”, says CFO, Andreas Morthorst.
Outlook for 2019 (unchanged)
The weather and other external events may have influence on Tivoli’s core business and therefore the development of the result of the year. Revenue for 2019 is expected to be in line with 2018. The profit before tax for 2019 is expected to be in the level of DKK 100 million before extraordinary items. The reason for the lower result is due to implementation of the Tivoli Pass, which, in accounting terms, is treated differently than the annual card.
Best regards
Tom Knutzen Lars Liebst
Chairman CEO
Contactperson: Head of press, Torben Plank, 22237440 / tpl@tivoli.dk
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