SkiStar (SKIS) Q4 24/25 earnings summary

Executive summary

• Celebrated 50-year anniversary, marking a milestone as a leading Scandinavian mountain holiday operator focused on guest experience and digital transformation.

• International guests now account for 40% of overnight stays and over 50% of revenue, with significant growth supported by new routes and investments.

• Transitioned from a winter-focused to a year-round tourism business, with digitalization and guest experience as key drivers.

• Maintained high guest and employee satisfaction, with 8/10 reporting positive experiences.

• Integrated business model spans lodging, retail, rentals, ski schools, and property development, driving diversified revenue streams.

Financial highlights

• Operating profit reached a record SEK 785 million, up 6% year-over-year, with an operating margin of 17%.

• Net sales for FY 2024/25 were SEK 4,631 million, down 1% from the previous year.

• Earnings per share rose to SEK 7.05 from SEK 6.04 year-over-year.

• Net debt/EBITDA improved to 1.5, reflecting a strong balance sheet and improved operating cash flow.

• Cash flow from operating activities was SEK 1,108 million, up from SEK 1,084 million.

Outlook and guidance

• Positive calendar effects expected for Christmas, New Year, and Easter in the coming year, with strong bookings and 85% of peak season accommodation already booked.

• CapEx expected to rise to SEK 650–700 million next year, with investments in guest experience, infrastructure, and new gondolas and ski areas.

• Launch of new, lower-priced SkiPasses aimed at attracting new customer groups and increasing volumes.

• Guidance for property EBIT contribution remains SEK 70–100 million per year on average.