SkiStar (SKIS) Q4 24/25 earnings summary

Executive summary

• Celebrated 50-year anniversary, marking a milestone as a leading Scandinavian mountain holiday operator with a focus on guest experience and digital transformation.

• Achieved record full-year operating profit of SEK 785 million, up 6% year-over-year, with an improved operating margin of 17% despite a 1% decrease in net sales to SEK 4,631 million.

• International guests now account for 40% of overnight stays and over 50% of revenue, supported by new routes and investments in guest experience.

• Maintained high guest and employee satisfaction, with 8/10 reporting positive experiences.

• Integrated business model spans lodging, retail, rentals, ski schools, and property development, driving diversified revenue streams.

Financial highlights

• Net sales for FY 2024/25 were SEK 4,631 million, down 1% from the previous year; operating profit rose to SEK 785 million.

• Operating margin improved to 17% from 16%; net debt/EBITDA reduced to 1.5 from 1.8.

• Earnings per share rose to SEK 7.05 from SEK 6.04.

• Cash flow from operating activities was SEK 1,108 million, up from SEK 1,084 million.

• Dividend proposed at SEK 3 per share, representing a 43% payout.

Outlook and guidance

• Positive calendar effects expected for Christmas, New Year, and Easter in the coming year.

• Bookings for the season are 2% below last year overall, but Christmas and early season bookings are up 3–4%, with 85% of peak season accommodation already booked.

• Investments planned in guest experience, snow systems, new gondolas, and ski areas.

• CapEx expected to rise to SEK 650–700 million, or 10–15% of sales, driven by infrastructure and guest experience.

• EBIT contribution from property segment guided at SEK 70–100 million per year on average.