16.3.2021 07:00:06 CET | Skitude Holding AS | Additional regulated information required to be disclosed under the laws of a member state
(Oslo, 16 March 2021) Skitude Holding AS (Skitude, Euronext Growth Oslo:SKI) reported revenues of NOK 28.4 million in the third quarter of 2020, ending 31 January 2021, and an adjusted EBITDA of NOK 1.6 million. The company has a strategy of consolidating the fragmented industry within digital solutions for the world's alpine resorts and targets 2025 revenues of EUR 80 million.
“The quarter ending 31 January 2021 was an extremely busy period for Skitude with the acquisitions of the Liftopia assets and Spotlio, in addition to the successful capital raise and listing on Euronext Growth. We continued to show revenue growth and operational improvements and has established a strong platform to realize our 2025 ambitions”, says Bent Grøver, Chief Executive Officer of Skitude.
Skitude reported revenues of NOK 28.4 million in the period from 1 November 2020 to 31 January 2021, and an EBITDA of -0.4 million. The company has not consolidated the accounts for the corresponding period the year earlier, but the company had revenues of NOK 6.8 million and an EBITDA of -16.8 million from 1 July 2019 to 30 April 2020. In December 2020 Skitude completed a successful capital raise of NOK 225 million and was listed on Euronext Growth. Excluding IPO related costs, the adjusted EBITDA for the third quarter ended at NOK 1.6 million.
“We grew our revenues significantly during the third quarter of 2020, despite the current pandemic obviously affecting the alpine resorts in important European and the US. However, the ongoing resort digitization continues with uninterrupted force, and we ticked of another box after the closing of the quarter with the launch of Catalate, a leading provider of dynamic pricing solutions for high-volume ticketing businesses, “ Grøver adds.
Skitude has a strategy of consolidating the fragmented industry within digital solutions for the world’s alpine resorts.
“We will continue to optimize and develop our newly acquired assets and is exploring several potential M&A opportunities. The world’s alpine resorts will continue to be affected by the pandemic this season, but we expect more normalized developments when entering into the 2021/2022 season. Skitude will in parallel increase our marketing efforts to capture a larger share of the skier wallets and resort ARR, and reiterates our 2025 ambition of revenues of EUR 80 million, “ Grøver concludes.
Skitude will present the third quarter 2020 financial results, 1 November 2020 to 31 January 2021, at 08:00 CET Tuesday 16 March 2021.
The event will be hosted by Bent Grøver and Ivar Blekastad, CFO, and can be streamed at: https://channel.royalcast.com/hegnarmedia/#!/hegnarmedia/20210316_1
The presentation will be held in English and questions can be submitted throughout the event.
The presentation is enclosed. Reference is also made to the Admission Document and the proforma figures for the first half of 2020. The Board of Directors has approved the reported figures and the first half 2020 accounts are enclosed.
Disclaimer
This information is considered to be inside information pursuant to the EU Market Abuse Regulation and is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act.
This stock exchange announcement was published by Bent Grøver, CEO, on 16 March, 2021 at 07:00 CET.
Contacts
Bent Grøver, CEO, +47 95 04 03 92, bent@skitudegroup.com
Ivar Blekastad, CFO, +47 48 26 36 70, ivar@skitudegroup.com
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.
Attachments
Skitude Group Q3 2020 quarterly presentation.pdf
Skitude Holding AS Half year report 2020.pdf
