Tivoli (TIV) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 6% YoY to DKK 467.7m and EBITDA increased 4% to DKK 147.0m, with guest numbers flat at 1.36m.

• 9M revenue increased 6% to DKK 937.9m, while profit before tax declined to DKK 13.3m from DKK 34.6m as costs rose with investment and activity.

Financial highlights

• Q3 net profit was DKK 88.8m versus DKK 86.3m; 9M net profit was DKK 8.8m versus DKK 26.8m.

• 9M EBITDA was DKK 108.6m versus DKK 123.2m; EBIT was DKK 19.5m versus DKK 39.9m.

• 9M operating cash flow was DKK 97.1m versus DKK 110.8m; total assets were DKK 1,884.0m at 30 September 2026.

Outlook and guidance

• 2026 expectations maintained at revenue of ~DKK 1,400m and profit before tax of DKK 145m.

• Christmas in Tivoli opens 13 November and runs through 3 January 2027, supporting the final season of the year.