PARKEN Sport & Entertainment (PARKEN) Q3 2024 earnings summary

Executive summary

• High activity in the first nine months of 2024 drove increased revenue and costs, with 22 football matches and six major concerts, including UEFA Champions League and sold-out events.

• Lalandia achieved a record 1.6 million overnight stays, up 40,000 year-over-year, and sold 31 new holiday homes in Billund.

• F.C. København's transfer income surged, and the club qualified for the Conference League's League Phase.

• New focus on conference and meeting sales in Parken, plus major partnership deals with Carlsberg, adidas, and Unibet.

• Major renovation underway in Parken Ejendomme's D Tribune executive floors.

Financial highlights

• Revenue reached DKK 1,061.9 million, up DKK 57.2 million year-over-year for the first three quarters.

• Operating expenses, personnel costs, and depreciation totaled DKK 981.3 million, up DKK 90.2 million year-over-year.

• Result before amortization and transfers was DKK 65.6 million (down from DKK 87.8 million), while transfer activities contributed DKK 201.3 million (up from DKK 81.1 million).

• Profit before tax was DKK 294.1 million, up from DKK 132.6 million; net profit was DKK 229.4 million, up from DKK 103.4 million.

• Net interest-bearing debt decreased to DKK 1,037.9 million, a reduction of DKK 115.8 million since year-end 2023.

Outlook and guidance

• 2024 guidance maintained: revenue expected at DKK 1,400–1,450 million and pre-tax profit at DKK 285–315 million.