May 2006
Annual Report 2005/06
Tivoli recently announced the results for the financial year 2005/06 to the Copenhagen Stock Exchange.
The amusement park presented a good result showing profits after tax of DKK 50 million compared to DKK 48 million in the previous year.
The net revenue was DKK 463.7 million, up 1% compared to the previous year. This modest progress is to be seen in the context of the decline in the ride consumption per visitor, which is mainly attributable to price reductions.
Tivoli had 4.2 million visitors in 2005: 3,161,000 visitors during the 2005 summer season and 1,028,000 visitors during Christmas at Tivoli, corresponding to a decline of 6% for the summer season and an increase of 6% for Christmas at Tivoli. For the first time the number of visitors exceeded 1 million during the Christmas season.
One reason for the decline in the number of visitors during the summer season was that the Tivoli Concert Hall was closed for rebuilding, and another was a decline in the number of visitors buying ride tickets.
Tivoli sold 287,000 season passes compared to 303,000 in the previous year. The number of visitors who visited Tivoli with a season pass or as companions of season pass holders amounted to approx. 50% of the total number of visitors, which was the same as in the previous year.
Expectations for 2006/07
In light of the favourable interest rate development and the increasing spending power, the Management still finds that Tivoli has a great growth and earnings potential that constitutes a solid foundation for long-term net revenue and earnings growth. The focus will continue to be on increasing the number of visitors in the off-season and on taking measures to increase consumption per visitor.
In 2006, Tivoli will introduce a third season between the summer season and Christmas at Tivoli: 10 Halloween-inspired days during the autumn holiday. The target audience for Halloween at Tivoli are families with children. The scenography and activities will be of a kind to appeal to young children. Initially, the scenography will be concentrated in the area between the Main Entrance and the Concert Hall.
In coming years the goal is to raise the total number of visitors by 200,000 compared to 2005/06. The investment level will be DKK 80-90 million. Investments in the peripheral area and the hotel are not included in this sum. The net revenue is expected to be in the order of DKK 550-575 million. Profits before tax are expected to be at the level of DKK 45-55 million.
For further information please contact press officer Ellen Dahl, ed@tivoli.dk or tel. +45 3375 0600.
