Skitude Holding AS – First quarter 2021/2022 financial results
(Oslo, 15 September 2021) Skitude Holding AS (Skitude Group, OSE:SKI) reported revenues of NOK 8.4 million in the first quarter of 2021/2022, ending 30 July 2021, and an EBITDA of NOK - 13.0 million. The company has a strategy of consolidating the fragmented industry within digital solutions for the world's alpine resorts and summer parks, expects gradual normalized winter seasons and reiterates the strong long-term outlook.
“The summer period is the low season for Skitude Group, where our main ski resort business has limited activities at this time at the year, but where we see a positive development in the annual subscription revenues and waterpark activities. We continue to focus on the Catalate roll-out, a leading provider of dynamic pricing solutions for high-volume ticketing businesses, and has a positive outlook for the gradual return for a more normalized alpine resort season in the US and Europe, “ says Bent Grøver, Chief Executive Officer of Skitude Group.
Skitude Group reported revenues of NOK 8.4 million in the period from 1 May 2021 to 30 July 2021, and an EBITDA of NOK -13.0 million. The company has not consolidated the accounts for the corresponding period the year earlier. The cash balance at the end of the quarter was NOK 129 million, sequentially down NOK 19 million from the previous quarter.
“The new management and new Board of Directors see a strong potential in Skitude Group, leveraging on the solid position within industries with accelerated digitization. We will continue to optimize and develop our newly acquired assets and is exploring several potential M&A opportunities. The world’s alpine resorts and summer parks are gradually preparing for more normalized businesses into 2022, with a pent-up demand from European and American travelers. In addition, the ongoing resort digitization will continue with uninterrupted force and we reiterate our 2025 ambition of revenues of EUR 80 million, “ Grøver concludes.
Skitude Group will present the first quarter 2021/2022 financial results, 1 May 2021 to 31 July 2021, at 08:00 CET Tuesday 15 September 2021.
The event will be hosted by Bent Grøver and Ivar Blekastad and is streamed at:
The presentation will be held in English and questions can be submitted throughout the event.
The presentation is enclosed.
This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.
About Skitude Holding AS
Skitude Holding AS aims to digitize the market for skiers and other mountain enthusiasts. Unlike other markets such as tourism, accommodation, restaurants, touring etc., this market is still mostly analogue. The international group of companies within the Skitude group has developed a platform on which all of this can be achieved. As such it provides a meeting place between skiers and ski resorts. The company’s long-term vision is to create a one-stop-shop that offers all services related to mountain activities.