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2021-07-06

Skitude Holding AS – Fourth quarter 2020/2021 financial results

(Oslo, 6 July 2021) Skitude Holding AS (Skitude, OSE:SKI) reported revenues of NOK 20.9 million in the fourth quarter of 2020/2021, ending 30 April 2021, and an EBITDA of negative NOK 12.9 million. The company has a strategy of consolidating the fragmented industry within digital solutions for the world's alpine resorts and summer parks and targets 2025 revenues of EUR 80 million.

“The quarter ending 30 April 2021 was another busy period for Skitude with a special focus on the launch of Catalate, a leading provider of dynamic pricing solutions for high-volume ticketing businesses. We see a solid and growing market for our digital solutions as we prepare for the return to more normalized alpine resort and summer park seasons, “ says Bent Grøver, Chief Executive Officer of Skitude.

 

Skitude reported revenues of NOK 20.9 million in the period from 1 February 2021 to 30 April 2021, and an EBITDA of -12.9 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 -20.8 million from 1 July 2019 to 30 April 2020. The cash balance at the end of the quarter was NOK 148 million.

 

During the quarter, Bent Grøver and Ivar Blekastad started as Chief Executive Officer and Chief Financial Officer respectively, in addition to the election of a new Board of Directors.

 

“The management and new Board of Directors see a strong potential in Skitude, 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 will continue to be affected by the pandemic, but we expect more normalized developments ahead. The ongoing resort digitization will continue with uninterrupted force and we reiterates our 2025 ambition of revenues of EUR 80 million, “ Grøver concludes.

 

Skitude will present the fourth quarter 2020/2021 financial results, 1 February 2021 to 30 April 2021, at 08:00 CET Tuesday 6 July 2021.

 

The event will be hosted by Bent Grøver and Ivar Blekastad and can streamed at: https://channel.royalcast.com/landingpage/hegnarmedia/20210706_1/

 

The presentation will be held in English and questions can be submitted throughout the event.

 

The presentation is enclosed.

Disclosure regulation

This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act.

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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.

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