SkiStar slides as Q3 profit, sales miss forecasts

SkiStar AB

20/06/2023 08:31

** Shares in SkiStar  SKISb.ST  fall 5% after the
Scandinavian ski resort operator posts Q3 operating profit below
consensus, hit by lower revenue
    ** It reports adj. operating profit of SEK 400 mln ($37.19
mln) for Q3, down 19% year-on-year; Jefferies says this was 18%
below consensus
    ** The brokerage adds Q3 net sales of SEK 1.41 bln were 9%
below consensus, "held back by lower revenue from SkiPass and
accommodation within the Operation of Mountain Resorts segment
due to fewer visitors during the final part of the winter
season"
    ** Tuesday's losses wipe out the stock's YTD gains

($1 = 10.7553 Swedish crowns)

 (Reporting by Greta Rosen Fondahn)
 ((Greta.RosenFondahn@thomsonreuters.com))