The Supervisory Board of
Results for the period 1 January –
- A revenue of
DKK 111.2 million compared toDKK 110.0 million last year (+1%) - Operating profit (EBIT) of
DKK -86.3 million againstDKK -73.3 million DKK last year. Adjusted for extraordinary write downs ofDKK 11.4 million . The operating profit isDKK 1.6 million . DKK less than last year (-2%). The write-downs relate to design costs for the Tivoli House, as the Tivoli House is postponed indefinitely. - An EBITDA of
DKK -44.7 million compared toDKK -47.9 million last year (+7%) - A profit before tax of
DKK -88.8 million compared toDKK -76.3 million last year (+73%). Adjusted for the above mentioned write downs the profit before tax isDKK 1.1 million lower than last year (-1%). - A profit after tax of
DKK -69.3 million compared toDKK -59.5 million last year (-16%) - An attendance figure of 292,000 attendants compared to 253,000 last year (+15%).
”Until March the activity level in Tivoli was in line with expectations and slightly higher than last year, primarily due to the extra opening days at the beginning of
Expectations to 2020
Tivoli's activity level is significantly dependent on the restrictions for larger congregations due to COVID-19, which has an impact on when Tivoli can re-open and how many guests may be in the Garden. At this time, it is not possible to assess how the restrictions will limit Tivoli's activity level from May and onwards. However, Tivoli's preliminary assessment is a significantly lower revenue in 2020 than last year, and Tivoli does not expect a positive result before tax for 2020. Due to the great uncertainty, it is currently not possible to make a concrete assessment of the financial impact. Tivoli will update expectations when the financial consequences are possible to estimate.
New CEO of Tivoli will start
Best regards
Tom Knutzen
Chairman CEO
Contactperson: Head of press,
Attachments
- 1. quarter 2020 Tivoli Report
UK Tivoli AS - Stock Exchange Announcement no. 6 - Q1 23042020
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