The Supervisory Board of
2020 highlights:
- A revenue of
DKK 477.7 million compared toDKK 1,051.3 million last year (-55%) - An EBITDA of
DKK -41.8 million compared toDKK 205.3 million last year - A loss before tax of
DKK 185.1 million compared toDKK 209.1 million last year - The result before tax is significantly affected by a number of non-ordinary items. Adjusted for these the result is
DKK 253.7 million lower than last year. - An attendance figure of 1,628,000 visitors compared to 4,581,000 last year (-66%)
CEO
”As an adventure business Tivoli is significantly affected by corona. The number of visitors in 2020 has dropped to one third of the normal level, and previous years profits have turned into deficits. This is due to the restrictions and the many recommendations to avoid social contact as well as the lack of tourists and cancellations of many of Tivoli’s cultural events such as Friday Rock, The Nutcracker and other performances and concers. Despite the many challenges we are proud that we managed to deliver good, safe and familiar experiences in 2020 to our visitors. We did not compromise on safety and the Tivoli experience, and we are convinced that it will bring us back on track. Despite the fact that, a deficit is expected in 2021, Tivoli will continue to invest in unique experiences to create growth. Therefore, in 2021 we can present a wide range of news, which will ensure that Tivoli’s number of visitors will grow and the business will generate profit again”.
Outlook for 2021
The corona pandemic and the associated restrictions are of vital importance for the framework conditions of the Tivoli business, including the possibility of opening Tivoli’s activities and the level of activity, as they affect the number of foreign tourists in
Tivoli expects that the framework conditions in 2021 will continue to be significantly affected by the corona pandemic, although the vaccination program is now underway. In 2021, Tivoli has prepared an activity calendar, which contains an increasing level of activity, in line with improving framework conditions and easing restrictions.
The level of activity and Tivoli’s results before tax for 2021 are subject to very high uncertainty, as it is difficult to predict due to the extraordinary situation.
The outlook for 2021 presuppose that the Gardens can be opened on
Tivoli expects revenue at the level of
Best regards
Tom Knutzen
Chairman CEO
Contactperson: Head of press,
Attachments
Tivoli AS - Stock Exchange Announcement no 2 - Annual Report 2020- Tivoli Annual Report 2020
- tivoli-2020-12-31
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