The Supervisory Board of
Results for the period 1 January –
- A revenue of
DKK 163.1 million compared toDKK 400.3 million last year (-59%) - An EBITDA of
DKK -84.3 million compared toDKK 13.9 million last year. Adjusted for special items (restructuring costsDKK 9.0 million ) EBITDA isDKK 89.2 million lower than last year. - Operating profit (EBIT) of
DKK -131.4 million compared toDKK -36.7 million DKK last year. Adjusted for special items (restructuring costs and extraordinary write downs ofDKK 11.4 million ) the operating profit isDKK 74.3 million lower than last year. - A profit before tax of
DKK -135.4 million compared toDKK -42.8 million last year. Adjusted for the above mentioned write downs the profit before tax isDKK 72.2 million lower than last year (-1%). - A profit after tax of
DKK -105.6 million compared toDKK -33.4 million last year (-216%) - An attendance figure of 439,000 attendants compared to 1,512,000 last year (-71%).
”Due to COVID-19 and the extensive social restrictions, the framework conditions for Tivoli's business have significantly worsened, and therefore Tivoli has been impacted very negative financially by the Corona crisis. It is largely the postponed opening, the ban on larger gatherings, the 6-day rule for tourists and the generally fewer tourists in
Expectations to 2020
Tivoli's business and activity level have historically been very weather dependent. COVID-19 is, however, a significantly larger and unusual factor of uncertainty for Tivoli, as the current social restrictions, which are constantly changing due to the development in e.g. infection pressure and the risk of spreading. Tivoli does not want to compromise on guest experiences, and both circumstances are crucial preconditions for Tivoli's activity level for the rest of 2020.
Tivoli has in previous announcement 10th of
Since the opening of the Gardens on 8th of
Tivoli's activity level is therefore expected to be affected to an unusual degree by continued restrictions on e.g. large gatherings and loss of tourists in
Based on these experiences and the expectation that Tivoli also during the rest of the year will be affected to an unusual degree by restrictions on e.g. larger gatherings and a significant drop-out of international tourists in
Profit before tax in first half year of 2020 constitute a deficit of
The outlook for 2020 is based on the current restrictions as well as the extent and level of spread of infection that COVID-19 has at the time of submitting the half-year report.
Best regards
Tom Knutzen
Chairman CEO
Contactperson: Head of press,
Attachments
Tivoli AS - Stock Exchange Announcement no. 8 -Q2-
Half year 2020 Tivoli Report
UK
© OMX, source