As a result of the eased restrictions, all operations were able to re-open in what for the Group is the very important fourth quarter. All venues, productions and activity restaurants were able to run their operations to the fullest during the period with the exception of
FOURTH QUARTER 2021 | ||||||||
2021 | 2020 | 2021 | 2020 | |||||
SEK million | Oct-Dec | Oct-Dec | Jan-Dec | Jan-Dec | ||||
Net sales | 259 | 49 | 396 | 330 | ||||
Pro rata sales | 230 | 49 | 367 | 274 | ||||
Other operating income | 22 | 24 | 87 | 67 | ||||
EBITDA | 69 | -16 | 60 | -97 | ||||
Adjusted EBITDA, SEK million | 69 | -9 | 58 | -70 | ||||
EBIT | 36 | -44 | -17 | -196 | ||||
Adjusted EBIT, SEK million | 53 | -25 | -2 | -137 | ||||
Profit/loss before income tax | 31 | -51 | 60 | -221 |
A WORD FROM THE CEO
At last! After 18 months of closure we were able to start doing business to the fullest and begin focusing on creating experiences again. The quarter began with the removal of restrictions in all of our markets and once again we received confirmation that our offers are attractive and doing well despite tough competition. During the period, we had good seat occupancy across the board, and sales were according to plan but faced with the challenge of a short sales period and the reimposed restrictions in December. Despite all the challenges, we delivered an operating profit of
During the quarter, the company's two major business areas, which primarily target private customers, were challenged by the relatively short sales period between the announcement of eased restrictions and the opening of our venues. However, during this short period, it became clear that there was a pent-up need to socialise and experience things outside the home. Feedback tells us that our offer of delivering attractive, high-quality experiences was right on target, and this is reflected in the net sales for the quarter, which in consolidated terms totalled
During the period, cash flow from operating activities was positive at
At the end of December, prepaid ticket revenues totalled
At the time of writing and to my great joy and relief, I am able to declare that all restrictions were removed a few days ago. However, we must complete a take-off run before we can fully fill our venues and maximize the number of customer projects again, and the current year's two first quarter's will continue to be negatively affected by the pandemic. We have been forced to postpone reopenings, and the rate of sales has slowed up noticeably as a result of the infection rate and restrictions. The great commitment shown by all of our employees will be crucial in enabling us to open everything up in the best way and turn on all the taps to increase the sales rate to max moving forward.
I look back over the past year with pride in the way we managed to get through the pandemic and the huge impact it had on our business, which made it easy for me to say yes to the permanent position of CEO and Group CEO when I was asked by the Board of Directors at the beginning of the year. Together with the management team and all of our employees, I look forward to carry on putting all of our plans into practice to help us increase profitability, build our platform and enable the Group to grow.
I hope we can meet at one of our functions or events in 2022, now that groups of many people are able to meet again.
VD/Group CEO
martin.duhane@momentgroup.com
This disclosure comprises information that
https://news.cision.com/moment-group-ab/r/year-end-report-1-january---31-december-2021,c3504346
https://mb.cision.com/Main/243/3504346/1533417.pdf
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