Tivoli A/S

Earnings Release • Aug 15, 2016

Interim Report for the Period 1 January – 30 June 2016

The Supervisory Board of Tivoli A/S has at the board meeting considered and
adopted the Interim Report for the period 1 January – 30 June 2016.

Results at 30 June 2016 in outline:

-- Revenue including tenants and lessees: DKK 448.2 million compared to DKK
492.4 million last year (-9 %).
-- Revenue excluding tenants and lessees: DKK 336.1 million compared to DKK
363.8 million last year (-8 %).
-- EBITDA: DKK -3.9 million compared to DKK 1.2 million last year.
-- EBIT: DKK -46.8 million compared to DKK -41.1 million last year (-14 %).
-- Profit before tax: DKK -48.9 million compared to DKK -43.8 million last
year (-12 %).
-- Profit after tax: DKK -39.2 million compared to DKK -32.1 million last year
(-22 %).
-- Number of guests for the period 1 January – 30 June 2016 1,395,000 compared
to 1,556,000 last year (-10%).

“Revenue incl. tenants and lessees for the period 1 January – 30 June 2016 is
DKK 44.2 million lower compared to the same period last year. The main reasons
are that Tivoli had 7 fewer opening days in the first half of 2016 compared to
last year, the construction of the Tivoli Corner which entails the temporary
closure of some commercial activities and a lower result from cultural
activities.”

We find the result for the period satisfactory, taking the expected revenue
decline into consideration.” says CFO, Andreas Morthorst.

Expectations for 2016

The weather and other external factors may have great impact on Tivoli’s
business and thus the development in profit for the year. For 2016, a revenue
of approximately DKK 900 million and a profit before tax between DKK 60 and 70
million is still expected.

Yours sincerely

Jørgen Tandrup
Lars Liebst

Chairman of the Supervisory Board
CEO

Contact person: Torben Plank,Head of Press (tel +45 33 75 04 40 /
tpl@tivoli.dk)