FIRST QUARTER 2023
2023 2022 2022
(MSEK) Jan-Mar Jan-Mar Jan-Dec
Net sales 250 117 848
Pro rata sales 207 107 773
Other operating income 1 7 35
EBITDA 26 -6 123
Adjusted EBITDA, SEK million 26 -6 123
EBIT 10 -20 63

Net sales for the quarter totalled SEK 250 million (117) with an operating profit of SEK 10 million (-20). The first quarter operating profit is largely attributable to a number of strong productions with excellent occupancy figures, but it was also influenced positively by the effects of closures from productions performed in 2022.

We concluded 2022 with historically strong earnings and began the new year with a good level of bookings for 2023. However, we note that the rate of sales declined somewhat during the first quarter, which resulted in occupancies that were lower than expected in some productions.

As an indicator of the sales position moving forward, prepaid ticket revenues at the end of the period stood at SEK 70 million (84), which is lower than the equivalent period for the previous year. However, the figure may be affected by the way the production portfolio differs year-on-year. However, we see an overall weakening in demand which we feel is partly due to a change in behaviour following the pandemic, and partly because of the increased cost situation and general unrest in the world at large.

We end the period with SEK 171 million (134) in cash and cash equivalents, and thus with a stable financial platform on which to base future investments. The Group's external loans fall due according to current terms at the end of March 2024 (SEK 144 million) and we have begun the work to review our future capital structure in order to successively strengthen our balance sheet. The Group's deferments of taxes, fees and rents totalling SEK 92 million, which must be repaid successively during the coming three-year period, is included in our forecasts. Our net financial income/expense for the first quarter, which was affected by rising interest rates, totalled SEK -7 million (-6).

We recently presented the two new concepts SLICE AND SERVE and BERMUDA DECK SHUFFLE CLUB, which will be launched initially in Malmö during the autumn of 2023. SLICE AND SERVE is a concept that aims to make table tennis Sweden's new People's sport and offers the game in combination with pizza in a new, easily accessible way. BERMUDA DECK SHUFFLE CLUB introduces a new activity to the Swedish market with large-format shuffleboard. Being able to add two new concepts to our strong brand palette is truly satisfying, and we have great confidence in the activities in combination with good food and drink. Perfect for creating great experiences that become pleasant memories.

With several strong quarters in terms of earnings behind us, a stable financial platform, new concepts and arenas and employees who continue to develop our business with great commitment and skill, we're well equipped to take on anything we're able to influence ourselves. We're also working hard to counter the worry and concern the world at large has confronted us with, and we're likely to see lower demand for experiences and entertainment in general.

In our business, the spring is a period with lower activity where we devote a lot of work to planning and preparation for the autumn. In the immediate future we'll be holding our AGM at Kungsportshuset on 10 May, and I'm looking forward to meeting our shareholders there to tell them more about the Group. Welcome!

Gothenburg, 3 May 2023

Martin du Hane
CEO/Group CEO Moment Group
martin.duhane@momentgroup.com
+46 721 64 85 65

This disclosure comprises information that Moment Group AB is obliged to disclose according to the EU market abuse regulation. The information was submitted through the auspices of the above-mentioned contacts, for publication on 03 May 2023 at around 08:30 CEST.