Tivoli A/S

The Supervisory Board of Tivoli A/S has approved the Interim Report for the period from January 1 to September 30, 2024. Tivoli's recent initiatives have strengthened its core business, allowing it to withstand challenges such as weather and economic slowdowns in nearby markets. Despite a rainy summer, favorable late summer weather and a strong program attracted many visitors, resulting in the best summer in Tivoli's history in terms of financial performance. Tivoli is proceeding with significant investments, including the reconstruction of the Asia area, the largest in its amusement area history, to enhance its core offerings. CEO Susanne Mørch Koch expressed confidence in a strong finish to 2024, with expectations of substantial visitor numbers during Christmas. The financial outlook for 2024 remains unchanged, with anticipated revenue of approximately DKK 1,250 million and a profit before tax of about DKK 130 million.

Esben Thykier has resigned from the Board of Directors at Tivoli, where he served as an employee representative, due to his promotion to a leadership role. John Høegh Berthelsen, the first alternate, will take his place on the board until the general meeting in 2026, when new elections for employee representative board members will occur. For further information, contact Torben Plank, Head of Press.

The summer of 2024 ended on September 22nd and was marked by changeable rainy weather, but concluded with favorable conditions. Tivoli Gardens experienced high visitor numbers, leading to increased financial expectations for the year. Initially, Tivoli projected 2024 revenue and profit before tax to match 2023 levels, with revenue around DKK 1,200 million and profit before tax around DKK 110 million. However, based on the first eight months of the year, future outlook, and adjustments related to COVID-19 compensation, Tivoli now expects revenue of around DKK 1,250 million and profit before tax of around DKK 130 million. CEO Susanne Mørch Koch attributed this success to effective initiatives, a strong core business, and a high turnout of visitors despite external challenges. The summer's end saw a significant increase in guests due to favorable weather and events like the Garden- and Flower Festival, marking it as the best financial summer in Tivoli’s history.

The Supervisory Board of Tivoli A/S adopted the Interim Report for the period from January 1 to June 30, 2024, on August 15, 2024. The report indicates that despite challenges such as rainy weather and fewer visitors from Sweden and Norway due to their weakened economies, Tivoli has managed to attract guests from other markets and maintain a stable cost base. This has resulted in the best summer financial results in Tivoli's history. Tivoli is now planning its largest investment ever in its amusement area, including a complete renovation of the Asian area, set to begin after the summer. The financial outlook for 2024 remains unchanged, with expected revenue of around DKK 1,200 million and a profit before tax of around DKK 110 million. Additionally, Gregers Wedell-Wedellsborg has resigned as deputy chairman and from the board, with Claus Gregersen taking over as the new deputy chairman.

Tivoli A/S conducted its Annual General Meeting on 23 April 2024 where the annual report was approved. The Board of Directors proposed a dividend distribution of 25% of the result after tax, equating to DKK 21.6 million, or DKK 3.77 per share. A proposal for an extended shareholder pass for shareholders with 150 shares was rejected. The remuneration report was approved and the existing board members were re-elected. Deloitte was chosen as the auditor and will also provide a statement on sustainability reporting. The Board of Directors elected Tom Knutzen as chairman and Gregers Wedell-Wedellsborg as deputy chairman.

Tivoli A/S' Supervisory Board has approved the Interim Report for Q1 2024. The amusement park opened its summer season on 22 March, earlier than the previous year, positively impacting the Q1 2024 results. The company continued its positive growth seen in 2023, with improved attendance figures and financial results compared to the same period in 2023. Tivoli's 2024 outlook remains unchanged, expecting a revenue of DKK 1,200 million and a pre-tax profit of DKK 110 million.