Nordea sees optimal conditions for Skistar to achieve record volumes this winter season, supported by a favorable calendar. This is evident from an analysis in which the buy recommendation is repeated and the target price is raised to SEK 200 (190).
According to Nordea, early bookings should continue to be strong, while late bookings continue to lag, in line with the trend of trips being booked closer to departure.
For the first quarter (September-November), revenue is estimated at SEK 237 million with an operating profit (EBIT) of SEK -477 million. The report will be published on Thursday, December 18.
Looking ahead, the bank believes that Skistar's fundamental strengths remain intact, with continued pricing power, strong international demand and margin lifts from higher capacity utilisation. Nordea expects EBIT growth of around 11 percent on average per year during 2024/25–2027/28, while the EBIT forecast for the current financial year 2025/26 is raised by approximately 1 percent.
SkiStar AB is a Sweden-based company active in the leisure and recreation industry. It is primarily engaged in the management of mountain ski resorts in Hemsedal and Trysil, in Norway, as well as in Salen, Are and Vemdalen, in Sweden. The Company’s activities are divided into two business areas: Destinations and Property Development. The Destinations area is responsible for the skiing services, mediation of accommodation, ski school and ski rentals. The Property Development area operates through wholly owned subsidiaries, named Fjallinvest AB and Fjellinvest Norge AS, which manage accommodation properties for hire, own land for development and have a stake in a jointly-owned real estate entities operating at SkiStar’s destinations. Furthermore, the Company is a parent of Salens Hogfjallshotell AB, Tandadalens Fjallhotell Service AB, and Are Invest AB, among others.
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