Interim Report for the period 1 January - 30 September 2025

The Board of Director of Tivoli A/S has the 30 October 2025 adopted the Interim Report for the period 1 January – 30 September 2025.  

Results for the period 1 January – 30 September 2025 in outline: 

• A revenue of DKK of 886.5 million compared to DKK 891.0 million last year (-1%). 
• An EBITDA of DKK 123.2 million compared to DKK 147.0 million last year (-16%). 
• A profit before tax of DKK 34.6 million compared to DKK 61.4 million last year (-44%). 
• An attendance figure of 2,689 thousand visitors compared to 2,737 last year (-2%), due to 5% fewer opening days compared to the previous year. 

Attendance figures, revenue, and profits are lower than the same period last year. There have been so far nine fewer opening days in 2025, compared to the same period in 2024. This affects Attendance figures and the level of activity. In addition, there were other income of DKK 10.5 million in 2024, which related to the recognition of COVID-19 compensation.

”Tivoli experienced a great summer season marked by numerous highlights and well-attended events. The summer season commenced on April 4, two weeks later than in 2024 due to a later Easter. The summer was characterized by forecasts of unstable weather and significant rainfall, which impacted both planned and spontaneous visits, since a substantial part of Tivoli’s operations are outdoors. Despite this, overall attendance figures were in line with expectations. A total of 1.3 million guests visited Tivoli during the first half of 2025, with approximately one-third of visits originating from international markets. Tivoli remains the largest tourist attraction in the Nordic region and has, in recent years, seen growing interest from European markets and especially the United States. This trend continued into the first half of 2025. Progress on Tivoli’s largest recent investment in the redevelopment of a new amusement area in the former Asia area, remains on track and is scheduled to open in summer 2026. The area will offer new attractions and culinary experiences catering to all age groups and preferences. Additional ride innovations are also in development, aimed at further enhancing Tivoli’s overall attraction portfolio in the coming years. Looking ahead, Tivoli anticipates a well-attended late summer season, lots of great guest experiences and are particularly excited about the upcoming Garden & Flower Festival, opening at the end of August” says CEO, Susanne Mørch Koch.

Outlook for 2025 (increase) 
Tivoli’s most recently announced expectations for 2025 were revenue in the range of DKK 1,300 million and profit before tax in the range of around DKK 130 million. The first nine months of 2025 have overall met the expectations. A strong start to the Halloween season and the outlook for a popular Christmas season has led Tivoli to increase its expectations to a revenue in the range of DKK 1,325 million and profit before tax in the range of around DKK 145 million, which would be in line with the operating profit in 2024, a historically strong year.

Best regards 

Tom Knutzen                        Susanne Mørch Koch 
Chairman                            CEO

Contact person: head of Press, Torben Plank phone 22237440 / tpl@tivoli.dk 

Attachments

• Tivoli AS - Stock Exchange Announcement no 9 - Interim Report for the period 1 January - 30 September 2025 and increase
• Tivoli AS - Interim report Q3 25