The leading holiday organiser for Scandinavia. Operates Mountain Resorts, Hotels as well as Property Development & Exploitation.
Record interest in skiing holidays in the Scandinavian mountains drives further growth and earnings
Cold temperatures in Scandinavia during the autumn enabled us to produce plenty of snow and kick off the winter season as early as mid-November. As we sum up the first part of the winter season and the first half of SkiStar's 2023/24 financial year, it is extremely gratifying that we can report operating profit of SEK 607 million, which is SEK 126 million higher than last year. Together with an increased operating margin of 22 percent, this is the best half-year result in the company's history. This was driven primarily by an organic growth of 10 percent thanks to a record number of skiing visitors to our destinations and particularly strong interest in Denmark, the UK, the Netherlands and Germany in taking a skiing holiday in Scandinavia. This means that we have also seen strong growth in the number of skier days during the season so far to 4.5 million, an increase of 9 percent on the same period last year. We have also had record sales of all products linked to alpine skiing, such as SkiPass, ski rentals and sales from our sporting goods stores, both physical and online.
Increasing the number of international guests has been one of our focus areas, and we are now seeing the fruits of our labours. This bodes well for the future, with growing interest in holidaying with SkiStar.
We continue to focus on sustainability. As the leader in mountain tourism in Scandinavia, we have taken a meaningful step in our transition to a fossil-free business by trialling fully electrified operations at our ski facility at Stockholm Hammarbybacken. Our longer-term aim is to scale this up at our larger ski resorts. Knowledge and experience from this pilot project will be very important, not only for us as a company but also for the industry worldwide. This marks an important milestone for us in helping achieve our climate targets for 2030.
The property market is cautious due to the prevailing economic climate, but we are continuing to work on detailed development plans so that we are ready when the economy picks up. Our sporting goods stores continued their growth journey despite the general decline in the sector, with sales increasing during the period both online at skistarshop.com (up +45 percent) and in our physical stores (up +25 percent). This led to overall sales growth of +34 percent for the period. It is particularly pleasing to see sales of our own brand, EQPE, growing +48 percent online and +69 percent in-store.
We are continuing to see strong interest in visiting us. Bookings for the remainder of the winter season, with an early Easter, are up 13 percent on the same period last year. In line with our strategy, we are continuing to invest in modernising, weather-proofing and increasing the capacity of our ski systems in line with increased demand from guests and the need for more efficient and climate- friendly snow production. We look forward to enjoying the early spring season in the mountains before we start up another summer season packed with activities.
See you on the slopes over Easter!
Stefan Sjöstrand, CEO
From SkiStars Half-Year Report 2023/2024
Record interest in skiing holidays in the Scandinavian mountains drives further growth and earnings
Cold temperatures in Scandinavia during the autumn enabled us to produce plenty of snow and kick off the winter season as early as mid-November. As we sum up the first part of the winter season and the first half of SkiStar's 2023/24 financial year, it is extremely gratifying that we can report operating profit of SEK 607 million, which is SEK 126 million higher than last year. Together with an increased operating margin of 22 percent, this is the best half-year result in the company's history. This was driven primarily by an organic growth of 10 percent thanks to a record number of skiing visitors to our destinations and particularly strong interest in Denmark, the UK, the Netherlands and Germany in taking a skiing holiday in Scandinavia. This means that we have also seen strong growth in the number of skier days during the season so far to 4.5 million, an increase of 9 percent on the same period last year. We have also had record sales of all products linked to alpine skiing, such as SkiPass, ski rentals and sales from our sporting goods stores, both physical and online.
Increasing the number of international guests has been one of our focus areas, and we are now seeing the fruits of our labours. This bodes well for the future, with growing interest in holidaying with SkiStar.
We continue to focus on sustainability. As the leader in mountain tourism in Scandinavia, we have taken a meaningful step in our transition to a fossil-free business by trialling fully electrified operations at our ski facility at Stockholm Hammarbybacken. Our longer-term aim is to scale this up at our larger ski resorts. Knowledge and experience from this pilot project will be very important, not only for us as a company but also for the industry worldwide. This marks an important milestone for us in helping achieve our climate targets for 2030.
The property market is cautious due to the prevailing economic climate, but we are continuing to work on detailed development plans so that we are ready when the economy picks up. Our sporting goods stores continued their growth journey despite the general decline in the sector, with sales increasing during the period both online at skistarshop.com (up +45 percent) and in our physical stores (up +25 percent). This led to overall sales growth of +34 percent for the period. It is particularly pleasing to see sales of our own brand, EQPE, growing +48 percent online and +69 percent in-store.
We are continuing to see strong interest in visiting us. Bookings for the remainder of the winter season, with an early Easter, are up 13 percent on the same period last year. In line with our strategy, we are continuing to invest in modernising, weather-proofing and increasing the capacity of our ski systems in line with increased demand from guests and the need for more efficient and climate- friendly snow production. We look forward to enjoying the early spring season in the mountains before we start up another summer season packed with activities.
See you on the slopes over Easter!
Stefan Sjöstrand, CEO
Record interest in skiing holidays in the Scandinavian mountains drives further growth and earnings
From SkiStars Half-Year Report 2023/2024
Record interest in skiing holidays in the Scandinavian mountains drives further growth and earnings
Cold temperatures in Scandinavia during the autumn enabled us to produce plenty of snow and kick off the winter season as early as mid-November. As we sum up the first part of the winter season and the first half of SkiStar's 2023/24 financial year, it is extremely gratifying that we can report operating profit of SEK 607 million, which is SEK 126 million higher than last year. Together with an increased operating margin of 22 percent, this is the best half-year result in the company's history. This was driven primarily by an organic growth of 10 percent thanks to a record number of skiing visitors to our destinations and particularly strong interest in Denmark, the UK, the Netherlands and Germany in taking a skiing holiday in Scandinavia. This means that we have also seen strong growth in the number of skier days during the season so far to 4.5 million, an increase of 9 percent on the same period last year. We have also had record sales of all products linked to alpine skiing, such as SkiPass, ski rentals and sales from our sporting goods stores, both physical and online.
Increasing the number of international guests has been one of our focus areas, and we are now seeing the fruits of our labours. This bodes well for the future, with growing interest in holidaying with SkiStar.
We continue to focus on sustainability. As the leader in mountain tourism in Scandinavia, we have taken a meaningful step in our transition to a fossil-free business by trialling fully electrified operations at our ski facility at Stockholm Hammarbybacken. Our longer-term aim is to scale this up at our larger ski resorts. Knowledge and experience from this pilot project will be very important, not only for us as a company but also for the industry worldwide. This marks an important milestone for us in helping achieve our climate targets for 2030.
The property market is cautious due to the prevailing economic climate, but we are continuing to work on detailed development plans so that we are ready when the economy picks up. Our sporting goods stores continued their growth journey despite the general decline in the sector, with sales increasing during the period both online at skistarshop.com (up +45 percent) and in our physical stores (up +25 percent). This led to overall sales growth of +34 percent for the period. It is particularly pleasing to see sales of our own brand, EQPE, growing +48 percent online and +69 percent in-store.
We are continuing to see strong interest in visiting us. Bookings for the remainder of the winter season, with an early Easter, are up 13 percent on the same period last year. In line with our strategy, we are continuing to invest in modernising, weather-proofing and increasing the capacity of our ski systems in line with increased demand from guests and the need for more efficient and climate- friendly snow production. We look forward to enjoying the early spring season in the mountains before we start up another summer season packed with activities.
See you on the slopes over Easter!
Stefan Sjöstrand, CEO
"EARLY WINTER AND A GREAT INTEREST IN SKI HOLIDAYS IN SCANDINAVIA"
Winter arrived earlier than ever before with both cold weather and natural snow at all our mountain destinations from the beginning of November, which brought good conditions for snow production and has meant an early snowy start to the season with a snow depth of between 40–80 cm. We will have fantastic conditions at all our destinations for the Christmas and New Year holidays and, above all, this will ensure a long winter season.
Operating profit declined by SEK 13 million in the period, equivalent to 3 percent. The most significant reason is the unusually favourable weather conditions for snow production and other work carried out in order to prepare the slopes during the pre-season. This has resulted in higher costs, mainly related to earlier snow-making, but has also meant an early start to the season, increased revenues and great interest from our guests.
Bookings, measured as the number of overnight stays booked through SkiStar’s mediated accommodation, are 9 percent higher than previous year, meaning that more than 80 percent of the season’s estimated accommodation sales are already booked. A strong Christmas and New Year period with high occupancy awaits us. Despite the weaker economy, many continue to choose to invest in a mountain holiday. The favourable value of the Swedish and Norwegian krona has also affected the foreign market, where we can see increased growth in the number of guests, notably from Denmark, but also from Germany, England and the Netherlands.
Prior to the season, large investments and additional acquisitions were made in our core operations. With two new express lifts, improved snow production and the development of existing ski areas and ski school operations at all destinations, our guests can have a fantastic winter experience, as well as access to ski products at all our destinations.
Retail operations continued to develop positively, despite a declining industry, and sales during the period have increased, both online at skistarshop.com (59 percent) and in our physical stores (32 percent). This resulted in an overall sales increase of 54 percent during the quarter.
Our climate targets were approved by Science Based Targets (SBT) during the previous financial year. We are currently taking the next step by clarifying our sustainability commitments within the areas of climate change. We are now focused on preserving white winters and reducing greenhouse gas emissions by 2030. By engaging with employees, guests, partners and interested members of the public, we want to create a driving force to help address climate change. We therefore invite everyone to participate in our sustainability efforts in order to make more informed choices and contribute to reducing greenhouse gas emissions. By working together, we can preserve white winters and ensue that snowy experiences remain part of our future.
We look forward with confidence to another great winter season at all our six destinations and I hope to see you on the slopes.
Stefan Sjöstrand, CEO
SkiStars 2023/23 Q1 report
"EARLY WINTER AND A GREAT INTEREST IN SKI HOLIDAYS IN SCANDINAVIA"
Winter arrived earlier than ever before with both cold weather and natural snow at all our mountain destinations from the beginning of November, which brought good conditions for snow production and has meant an early snowy start to the season with a snow depth of between 40–80 cm. We will have fantastic conditions at all our destinations for the Christmas and New Year holidays and, above all, this will ensure a long winter season.
Operating profit declined by SEK 13 million in the period, equivalent to 3 percent. The most significant reason is the unusually favourable weather conditions for snow production and other work carried out in order to prepare the slopes during the pre-season. This has resulted in higher costs, mainly related to earlier snow-making, but has also meant an early start to the season, increased revenues and great interest from our guests.
Bookings, measured as the number of overnight stays booked through SkiStar’s mediated accommodation, are 9 percent higher than previous year, meaning that more than 80 percent of the season’s estimated accommodation sales are already booked. A strong Christmas and New Year period with high occupancy awaits us. Despite the weaker economy, many continue to choose to invest in a mountain holiday. The favourable value of the Swedish and Norwegian krona has also affected the foreign market, where we can see increased growth in the number of guests, notably from Denmark, but also from Germany, England and the Netherlands.
Prior to the season, large investments and additional acquisitions were made in our core operations. With two new express lifts, improved snow production and the development of existing ski areas and ski school operations at all destinations, our guests can have a fantastic winter experience, as well as access to ski products at all our destinations.
Retail operations continued to develop positively, despite a declining industry, and sales during the period have increased, both online at skistarshop.com (59 percent) and in our physical stores (32 percent). This resulted in an overall sales increase of 54 percent during the quarter.
Our climate targets were approved by Science Based Targets (SBT) during the previous financial year. We are currently taking the next step by clarifying our sustainability commitments within the areas of climate change. We are now focused on preserving white winters and reducing greenhouse gas emissions by 2030. By engaging with employees, guests, partners and interested members of the public, we want to create a driving force to help address climate change. We therefore invite everyone to participate in our sustainability efforts in order to make more informed choices and contribute to reducing greenhouse gas emissions. By working together, we can preserve white winters and ensue that snowy experiences remain part of our future.
We look forward with confidence to another great winter season at all our six destinations and I hope to see you on the slopes.
Stefan Sjöstrand, CEO
SkiStar is the leading holiday organiser/planner for Scandinavia with an offering and efficient organisation that has provided continuous growth and stable profitability.
The trend of active leisure time and holidays at home means that SkiStar will further consolidate its position in the future.
Sales have purposely focussed on skistar.com and the SkiStar app, where guests’ engagement has been monitored, thus giving SkiStar a direct relationship with the guest, giving the Company a competitive advantage.
The company owns substantial assets in the form of land and properties at the destinations where SkiStar operates. Property development and exploitation operations generate not only capital gains, but also strategic projects that increase the number of beds at destinations, and thus potentially also guest numbers, for core operations.
As a SkiStar shareholder you can enjoy a 15% discount on SkiPass, ski school, and more.
The basis of SkiStar’s offer is to generate sales before the guest arrives atthe destination. Over 70 percent of SkiStar’s sales take place onskistar.com, which is the largest sales channel and the most vitalcomponent of the business model.
A multifaceted segment encompassing a range of services and products from ski passes, accommodation, and equipment rental to ski schools, retail operations, property services, and adventure sports.
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SkiStar is in a strong position thanks to its strong presence in the stable alpine skiing market, a diversified customer base, competitive advantages in Scandinavia, potential for market expansion, and strategic adaptability.
To strengthen our position as the leading holiday organiser for Scandinavia, alpine skiing will remain SkiStar’s main focus when creating memorable mountain experiences.
During the financial year, we continued to invest even more in the summer and autumn seasons, thus creating new sources of revenue. To increase the number of skier and activity days and thus boost revenues, the key is to attract more guests to our destinations who are more satisfied with their experience and more guests who return year after year.
Another important aspect is to strengthen the competitiveness of the destinations, with important factors such as the range of products, development of ski systems, summer activities and offering guests better accommodation while away than at home. As people’s lifestyles and holiday habits are shifting, with them moving in recent years towards more active holidays spread over different periods of the year, work is under way to review how we can meet demand for adapted opening times, lift-assisted summer activities and guaranteed snow.
At the same time, we are continuing to make investments in our mountain resorts, such as new lifts and skiing areas with plans to implement several new lifts to weatherproof and windproof Åre.
SkiStar wants to be at the cutting edge and further develop operations with a focus on increasing the number of guests and activity days at our destinations and driving sustained profitable growth.
Sales of our SkiPass are at the heart of our revenue. Based on that successful product, we have since developed new revenue sources in the form of ski rentals through SkiStarshop, our snowman Valle and Valle's Ski School, the SkiStar Living accommodation concept and much more.
Another important part of finding new sources of revenue is to even more efficiently base our actions on guests’ behaviours, purchasing patterns, satisfaction and preferences through the customer data we have from skistar.com and guest surveys, but also through memberships in SkiStar Member, using an updated strategy and development programme.
By linking our sustainability target of seven million skier and activity days to the new SkiStar Member (as each skier day or activity day will give entitlement to a bonus), we are linking our guests and members closer to our sustainability targets within ‘activity and recreation’. Guests also receive all the benefits of being both loyal guests and members over time, such as bonus points on all purchases in the SkiStarshop, be it in physical stores or online, as well as on bookings and rentals via skistar.com. To put it simply – it should pay to be active.
For SkiStar, it is important for all land exploitation and property development in the Scandinavian mountain world to be sustainable.
An important goal for us is to see a positive performance in the value of ourexploitable land. This is achieved by active detailed development plans, which lead to new projects being launched more quickly.
Another vital aspect of the strategy is to ensure a strong performance in the value of the property portfolio by developing and enhancing the efficiency of properties owned by SkiStar, not least in terms of energy efficiency and systematic maintenance
For SkiStar, digitalisation means developing our destinations and digital platforms based on customer insight and data analysis with the concepts of simplicity, satisfaction, accessibility and the safety of our guests serving as a guide.
Over the past year, SkiStar has continued to develop a number of products and services – everything from the SkiStar app to digital check-in and check-out at our accommodation. The Valle app is being developed into a ‘digiphysical’ tool as part of our efforts to give more children a sense of adventure and a love of the great outdoors. Digital business development will continue over the coming years with a focus on further guest-centric adjustments.
It is a question of being at the forefront of digital interaction with guests, to create a memorable and carefree alpine experience before, during and after their trip.
Based on our brand and existing assets, we identify, analyse and generate future business through ongoing business development, thus reinforcing and intensifying our pace of innovation. The pace of development was high during the year, not least relating to the all-year-round initiative, with more attractions being developed for the summer season, including the new adventure arenas in Trysil, Sälen and Vemdalen.
Under året har utvecklingstakten varit hög, inte minst inom SkiStar Sports & Adventures, där flera produkter har utvecklats till den nya satsningen på Stockholm Hammarbybacken, en ny äventyrsarena mitt i storstaden med SummerSki, Klätterpark, Mountain Coaster och Mountain Tube.
SkiStar's Group Management is headed by CEO Stefan Sjöstrand.
Principle education and professional experience:
Marketing Diploma IHM. 13 years of experience from IKEA, inter alia from positions as Commercial & Digital Manager for Ingka Centres (IKEA), Commercial Manager for IKEA Group and member of Group Management and the Management Board, CEO of IKEA Canada, Deputy CEO of IKEA France and Business Area Manager at IKEA of Sweden (IKEA’s product development company in Älmhult). Stefan also has experience from various CEO and management roles at Weibulls, OLW, Malaco and Marabou.
Significant professional commitments outside the company:
Board Member of Derome AB.
Holding:
37 100 B-shares
Principle education and professional experience:
Master of Business Administration. Former business area manager within Medtech at AddLife AB. He had the position as CFO at AddLife AB during the years 2015-2021. Experience from work as group controller at Addtech AB, from various controller positions within Nefab as well as from work as an auditor.
Significant professional commitments outside the company:
Holding:
10 000 B-shares
Principle education and professional experience:
Degree of Master both in Economics and Tourism and Hospitality Management. CEO of Hotel Diplomat and Villa Dagmar during the years 2012–2022. Prior to that, active in the group of Clarion Hotels, with responsibility for sales and operations. Also experience from Langley Travels with responsibility for hotel operations in the Alps, Corsica, and Crete.
Significant professional commitments outside the company:
Holding:
307 B-shares
Principle education and professional experience:
Marketing Diploma IHM. Various management positions within the SkiStar Group.
Significant professional commitments outside the company:
Holding:
22 259 B-shares
Principle education and professional experience:
Master of Laws. Former associate and lawyer at law firms Lindahl and Ramberg Advokater, district court service as law clerk.
Significant professional commitments outside the company:
Holding:
2 000 B-shares
Principle education and professional experience:
Bachelor of Economics. Former Nordic Marketing Manager Fritidsresor, Sales and Marketing Manager Langley Travel.
Significant professional commitments outside the company:
Holding:
17 609 B-shares
Principle education and professional experience:
Personnel and working life program, Stockholms Folkuniversitet, marketing economist IHM Business School. Previous experience from Ving within the foreign organization as well as various management and leadership positions within the SkiStar Group.
Significant professional commitments outside the company:
Holding:
2 000 B-shares
Principle education and professional experience:
MBA. Former Administrative head of business development at Diös, head of the Swedish commercial business of Riksbyggen. Former member of the board of directors in SBC and SkiStar.
Significant professional commitments outside the company:
Holding:
3 350 B-shares
Principal education and professional experience:
Bachelor of Arts. Former chairman of Swedbank and KF. Many years of operational experience in industry as well as the financial sector, including CEO of Folksam. Has held several ministerial posts and other political assignments.
Other significant professional committments:
Chairman of the Board, Chairman of the Remuneration Committee
Holding:
15,000 B-shares
Principal education and professional experience:
University studies and SEB Higher internal bank training. Extensive experience in consumer and services market through her role as founder and owner and previously CEO and executive chairman of listed Collector AB and Collector Bank.
Other significant professional committments:
Board member of Dragon Invest AB. Chairman of Redlocker AB and NordicCredit Sweden AB and Board member of Helichrysum Gruppen AB.
Holding:
10 000 B-shares
Principal education and professional experience:
Secondary education. Experience as CEO and board member of Kranpunkten Skandinavien AB and Ekhaga Utveckling AB.
Other significant professional committments:
CEO and Director of Kranpunkten Skandinavien AB and Ekhaga Utveckling AB. Board member of Peab AB and Board member of Mats Paulssons Stiftelse and Stiftelsen Stefan Paulssons Cancerfond.
Holding:
Principal education and professional experience:
MBA. Many years of broad experience from the experience industry. Former CFO of Scandic Hotels, Cision, Parks & Resorts Scandinavia, Mandator and TUI Nordic.
Other significant professional committments:
Member of the board of Ambea AB (publ), NCAB Group AB (publ), Scandic Hotels Group AB (publ) and Swedish Space Corporation (SSC, Svenska Rymdaktiebolaget).
Holding:
1 900 B-shares
Principal education and professional experience:
Bachelor in Business Administration. Former vice president of ICA Gruppen AB, CEO of ICA Sverige AB and board member of Svensk Dagligvaruhandel Ekonomisk förening and ICA Banken AB. Before that senior vice president of Arla Foods Consumer Nordic and CEO of Arla Foods Sweden as well as various roles in Procter & Gamble Nordic and Procter & Gamble UK, including as logistics director Nordic and sales director Sweden.
Other significant professional committments:
Chairman of the Board of Svensk Handel AB and Stadium AB and a board member of Svenskt Näringsliv, Reocean AB and Midsona AB.
Holding:
3 000 B-shares
Principal education and professional experience:
Master's degree in accounting and business administration, MBA in finance. Previously inter alia CIO and portfolio manager at ODIN Fonder, Investment Director at Seatankers Management Norway and auditor at PwC.
Other significant professional committments:
Partner and investment director of Aeternum Management AS, which manages Aeternum Capital AS. Other significant professional commitments: Board member of ITAB Shop Concept AB, Aeternum Management AS and Søraunet Invest SA.
Holding:
Represents Aeternum Capital AS, which holds 15,060,000 Series B shares, corresponding to 19.2% of the capital and 13.5% of the votes and 1,600 B shares through family.
Principal education and professional experience:
Law degree. Employed at Handelsbanken since 1986, where she has held a number of different managerial positions with results responsibility.
Other significant professional committments:
Currently Board Member and resigning President and CEO of Svenska Handelsbanken. Other significant professional commitments: Board Member in Holmen AB, the Swedish Bankers' Association, as well as in the World Childhood Foundation.
Holding:
Principal education and professional experience:
Senior high school. Employed by SkiStar since 1998.
Other significant professional committments:
Holding:
Principal education and professional experience:
Secondary school education. BAC School of Economics. Employed by SkiStar since 2023. Previous work experience from Saint-Gobain, Riksbyggen and TeliaSonera. Worked internationally for 20 years.
Other significant professional committments:
Holding:
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