SKIS B Skistar Ab

Additional Employee Representative appointed to SkiStar's Board of Directors

Additional Employee Representative appointed to SkiStar's Board of Directors

SkiStar AB (publ) today announces that Tobias Englund has been appointed as Unionen’s employee representative in the Board of Directors of SkiStar AB, effective from 9 May 2023. Following this decision, SkiStar's Board of Directors thereafter includes – in addition to the seven members appointed by the general meeting of shareholders – two employee representatives, appointed by Unionen respectively Hotell- och Restaurangfacket.

This information was submitted for publication, through the agency of the contact persons set out below, at 13 February 2023, 08.50 a.m. CET.

Further information can be reached from:

Stefan Sjöstrand, CEO, tel +46 (0)280 841 60.

Anders Örnulf, CFO, tel +46 (0)280 841 60.

SkiStar in brief

SkiStar AB (publ) is listed on the Mid Cap list of the Nasdaq Stockholm exchange. The Group owns and operates mountain resorts in Sälen, Vemdalen, Åre and Stockholm (Hammarbybacken) in Sweden and in Hemsedal and Trysil in Norway. Operations are divided into three segments: Operation of Mountain Resorts, Property Development & Exploitation and Operation of Hotels. As the leading holiday tour operator for Scandinavia, SkiStar’s business concept is to create memorable mountain experiences, develop sustainable destinations, offer accommodation, activities, products and services of the highest quality with our guests in focus. For further information, please visit /en/corporate.

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EN
13/02/2023

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Skistar (Buy, TP: SEK193.00) - Monetising high-season demand

Q2 showed solid execution in the core Ski Operations, with international demand driving SkiPass revenue (+11% YOY FX-adj.). With the late Easter this year, pre-bookings are down 5% YOY, albeit still supporting an outlook for a record high-season 2024/25. We have raised our 2024/2025–2026/27e EBIT for Ski Operations by 2–5%. We like SkiStar’s operating model, pricing power, and positive market trends. We reiterate our BUY and have raised our target price to SEK193 (185).

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