Tivoli A/S — Earnings Release 2021

Sep 15, 2021

TIVOLI

More guests make Tivoli raise the expectations for the 2021 result

Stock Exchange Announcement no. 9

Tivoli has during the summer of 2021, especially in late summer, had more guests than previous years and than previously expected, and guests in the Garden having made greater use of its activities. On this basis Tivoli raises expectations for the result for 2021.

Tivoli’s previously announced expectations for 2021 had a revenue on approximately DKK 600 million and a loss before tax in the range of DKK 75-100 million. Tivoli now expects revenue in the range of DKK 650-700 million and a loss before tax in the range of DKK 65 million.

“Especially in the late summer of 2021, Tivoli has had a higher level of activity than expected, because restrictions have been eased and because guests have welcomed the many new activities in the Garden among other things ”says CEO Susanne Mørch Koch.

Tivoli’s raise in expectations are based on the outlook on no new restrictions, and that the level of activity continues to rise for the rest of the year and thereby continues to get nearer to historical levels. In the fourth quarter of the year, Tivoli expects an activity level of approximately 75% compared to the historical activity level. There is still great uncertainty about Tivoli’s expectations, in particular in relation to the compensation for fixed costs, Tivoli’s activity level and profit expectations due to COVID-19.

Best regards

Tom Knutzen
Chairman

Susanne Mørch Koch
CEO

Contact person: Head of press, Torben Plank tlf. 22237440 / tpl@tivoli.dk