PARKEN Sport & Entertainment (PARKEN) Q4 2024 earnings summary

Executive summary

• Revenue reached DKK 1,425.0 million in 2024, down from DKK 1,695.6 million in 2023, with net income of DKK 229.9 million versus DKK 335.0 million last year.

• Lalandia achieved record growth with 2.1 million overnight stays, up 4% year-over-year, and strong sales of new holiday homes.

• F.C. København's segment result dropped to DKK 58.7 million from DKK 320.1 million, mainly due to lower UEFA prize money.

• Parken Ejendomme maintained high occupancy (97%) and improved segment result to DKK 45.5 million.

• Dividend of DKK 10 per share proposed for 2024.

Financial highlights

• Operating profit before amortization and special items was DKK 112.7 million, down from DKK 415.4 million in 2023.

• Transfer activity result increased to DKK 167.4 million, driven by player sales.

• Net interest-bearing debt stood at DKK 1,170.1 million at year-end.

• Cash flow from operations was negative at DKK -23.2 million, compared to DKK 398.2 million in 2023.

• Equity ratio improved to 40.0% from 37.2% year-over-year.

Outlook and guidance

• 2025 revenue expected between DKK 1,600–1,700 million and pre-tax profit of DKK 100–150 million, assuming F.C. København qualifies for UEFA Europa League.

• Lalandia’s Billund and Rødby operations expected to match 2024, with Søndervig set for higher revenue as new apartments are delivered.

• Parken Ejendomme occupancy expected to remain high; no fair value adjustments assumed.