SkiStar Q1 FY21 revenue grows 27% to SEK 154 mn

SkiStar AB, a Swedish retail company, has reported 27 per cent revenue growth to SEK 154 million in its first quarter (Q1) FY21 that ended on November 30, 2020 compared to the revenue of SEK 121 million in the same period previous fiscal. Company’s operating income during the reported period rose to SEK 156 million (Q1 FY20: SEK 125 million).

 

“The coronavirus pandemic continued to affect our operations in the first quarter 2020/21, and the process of Covid-proofing our destinations continued throughout the autumn. We saw very strong demand for several of our products, including accommodation, SkiPass, ski rental and ski school, in the early autumn, with many people keen to secure a holiday in the mountains this winter,” Stefan Sjöstrand, CEO of SkiStar, said in a press release.

 

Company loss after tax improved 5 per cent to SEK 251 million in Q1 FY21 (SEK 245 million). SkiStar Sälen bookings for Christmas and New Year weeks improved 33 per cent compared with the previous year.

 

“Despite a later start to the winter season, we showed strong growth of 18 per cent in our sports shop sales during the first quarter compared with the previous year,” Sjöstrand said.

 

“We look forward with confidence to a good, long winter season at our six destinations. This year, we see outdoor activities in the fresh air being more appreciated and more important than ever in these unusual times,” Sjöstrand said.