Tivoli A/S

Earnings Release • Aug 15, 2014

Like previous years Tivoli holds board meeting on Tivoli's birthday 15 August.

The Supervisory Board of Tivoli A/S has at today’s board meeting considered and
adopted the Interim Report for the period 1 January - 30 June 2014.

Results at 30 June 2014 in outline:

-- Revenue including tenants and lessees: DKK 451.6 million compared to DKK
389.7 million last year.
-- Tivoli’s revenue: DKK 311.5 million compared to DKK 250.8 million last
year.
-- EBITDA: DKK -6.5 million compared to DKK -19.5 million.
-- Profit before tax: DKK -50.4 million compared to DKK -57.7 million last
year.
-- Number of guests as of 30 June 2014: 1,418,000 compared to 1,191,000 guests
as of 30 June 2013.

”Compared with the first six months of 2013, the first six months of 2014
show a revenue increase of almost DKK 61 million corresponding to approximately
24%. The increase is primarily due to the increase of activities in the Concert
Hall and the Glass Hall Theatre, to increased activity as regards
TivoliCasino.dk and to the fact that this year Easter fell in Tivoli’s summer
season. Consequently, the number of visitors increased compared with the same
period last year.

All things considered, we have seen a profit improvement before depreciation
and write-down (EBITDA) for the first six months of 2014 of DKK 13 million
compared with the same period last year,” says Claus Dyhr, CFO in Tivoli. He
continues:

Halloween in Tivoli is extended by another week in 2014 so that it will run
from 10 October to 2 November. Christmas in Tivoli is also extended by the
first days of 2015, running from 15 November to 4 January 2015.

Outlook for 2014

For 2014 there is expected a revenue and profit before tax at the same level as
2013.

Yours sincerely

Jørgen Tandrup
Lars Liebst

Chairman of the Supervisory Board CEO

Contact person: Claus Dyhr, CFO, (tel +45 33 75 03 63 / cd@tivoli.dk)