SkiStar (SKIS) Q3 23/24 earnings summary

Executive summary

• Achieved 5% organic growth in Q3, with net sales rising to SEK 1,490 million and operating profit up to SEK 418 million, mainly driven by international guests, especially from Denmark, UK, Netherlands, and Germany.

• Record 6.1 million skier days, a 7.4% year-over-year increase, and 108,000 ski school students (+4.5%).

• Strong winter season with 100 days open, high guest satisfaction, and increased digital engagement (8% higher conversion, 13% more sessions).

• Transformation to an all-year business continues, with expanded summer activities and events.

• Acquisition of Trysil ski school completed, consolidating ski school operations at all destinations.

Financial highlights

• Q3 operating profit reached SEK 418 million (up from SEK 353 million), with net sales at SEK 1,490 million (up from SEK 1,409 million); nine-month operating profit at SEK 1,019 million (up from SEK 834 million), and net sales at SEK 4,353 million (up from SEK 3,936 million).

• Operating margin improved to 28% in Q3 (from 25%), and 23% for nine months (from 21%).

• Cash flow from operating activities for nine months was SEK 1,318 million (up from SEK 917 million).

• Retail sales grew 10% in Q3, mainly from online channels; own brand EQPE grew 32%.

• Profit after tax for Q3 was SEK 313 million (up from SEK 269 million).

Outlook and guidance

• Winter bookings for the 2024/25 season are up 9%, with 30% of capacity already booked, driven by international demand.

• SEK 330 million in operating investments planned for the next business year, focusing on snow production, infrastructure, and a new chairlift in Trysil.

• Continued focus on attracting international guests, expanding property development, and year-round operations.

• Summer bookings slightly down due to event timing, but Trysil up 9%.