World News: 11:18 GMT Friday 15th March 2019. [Tivoli A/S via Globe Newswire via SPi World News]
The Supervisory Board of Tivoli A/S has adopted and approved the Annual Report for 2018 at the board meeting on 15th of March 2019.
•A revenue of DKK 1,058.8 million compared to DKK 938.5 million last year (+13%)
•An EBITDA of DKK 222.1 million compared to DKK 189.3 million last year (+17%)
•An EBIT of DKK 131.1 million compared to DKK 104.7 million last year (+25%)
•A profit before tax of DKK 120.6 million compared to DKK 100.5 million last year (+20%)
•A profit after tax of DKK 94.2 million compared to DKK 78.5 million last year (+20%)
•An attendance figure of 4,854,000 attendants compared to 4,377,000 last year (+11%).
”The profit before tax of DKK 120.6 million is in line with the announcement in August 2018 regarding adjustment of expected profit before tax from DKK 100 – 110 million to DKK 110 – 120 million.
The reported result has increased by 20% compared to 2017. The positive development is primarily due to higher attendance to the Gardens, higher activity in the Halls and the Tivoli Corner which was completed in November 2017. The total number of visitors has increased by 11% compared to last year which is due to the new season, Winter in Tivoli, more opening days and a well visited summer season. This was also well helped by many anniversary activities and comparing to last year, where the summer season was negatively affected by the rainy summer weather.
The high attendance figure, the revenue development and the highest result in Tivoli’s history confirms that Tivoli strategy being a full-year business has succeeded” says CEO, Lars Liebst.
Expectations to 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. 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.
Tivoli’s summer season opens on 4 April 2019.
Tom Knutzen Lars Liebst
Globe Newswire: 11:18 GMT Friday 15th March 2019
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