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Kurs & Likviditet
Beskrivning
| Land | Sverige |
|---|---|
| Lista | Small Cap Stockholm |
| Sektor | Sällanköp |
| Industri | Resor & Fritid |
As a result of the eased restrictions, all operations were able to re-open in what for the Group is the very important fourth quarter. All venues, productions and activity restaurants were able to run their operations to the fullest during the period with the exception of Oslo and Copenhagen, which were forced to close a few weeks before the Christmas break.
FOURTH QUARTER 2021
2021 2020 2021 2020
SEK million Oct-Dec Oct-Dec Jan-Dec Jan-Dec
Net sales 259 49 396 330
Pro rata sales 230 49 367 274
Other operating income 22 24 87 67
EBITDA 69 -16 60 -97
Adjusted EBITDA, SEK million 69 -9 58 -70
EBIT 36 -44 -17 -196
Adjusted EBIT, SEK million 53 -25 -2 -137
Profit/loss before income tax 31 -51 60 -221
A WORD FROM THE CEO
At last! After 18 months of closure we were able to start doing business to the fullest and begin focusing on creating experiences again. The quarter began with the removal of restrictions in all of our markets and once again we received confirmation that our offers are attractive and doing well despite tough competition. During the period, we had good seat occupancy across the board, and sales were according to plan but faced with the challenge of a short sales period and the reimposed restrictions in December. Despite all the challenges, we delivered an operating profit of SEK 36 million for the quarter and SEK 40 million in cash flow from operating activities. I'm proud of how we succeeded in starting everything up again at such short notice and with limited resources to deliver a profitable quarter with great reviews and positive feedback from our guests!
During the quarter, the company's two major business areas, which primarily target private customers, were challenged by the relatively short sales period between the announcement of eased restrictions and the opening of our venues. However, during this short period, it became clear that there was a pent-up need to socialise and experience things outside the home. Feedback tells us that our offer of delivering attractive, high-quality experiences was right on target, and this is reflected in the net sales for the quarter, which in consolidated terms totalled SEK 259 million (49). Operating profit came in at SEK 36 million (-44), and EBIT, adjusted for non-recurring items, totalled SEK 53 million (-25), an improvement of SEK 78 million over the adjusted operating loss for the corresponding period for the previous year. It's also worth noting that the adjusted operating profit is on par with the fourth quarter 2019, which was the Group's best ever.
During the period, cash flow from operating activities was positive at SEK 40 million (-14), which was generated via the operating profit. We ended the quarter with SEK 138 million in cash and cash equivalents, which is substantially better than forecast and provides us with good conditions for achieving our priorities moving forward.
At the end of December, prepaid ticket revenues totalled SEK 84 million (51), which is a good indication of the company's sales position in the run-up to forthcoming periods, even though this was affected by the size of the production portfolio. Our event companies also experienced increased demand during the second half of the year, and a clear desire to book live events after 18 months of virtual meetings.
At the time of writing and to my great joy and relief, I am able to declare that all restrictions were removed a few days ago. However, we must complete a take-off run before we can fully fill our venues and maximize the number of customer projects again, and the current year's two first quarter's will continue to be negatively affected by the pandemic. We have been forced to postpone reopenings, and the rate of sales has slowed up noticeably as a result of the infection rate and restrictions. The great commitment shown by all of our employees will be crucial in enabling us to open everything up in the best way and turn on all the taps to increase the sales rate to max moving forward.
I look back over the past year with pride in the way we managed to get through the pandemic and the huge impact it had on our business, which made it easy for me to say yes to the permanent position of CEO and Group CEO when I was asked by the Board of Directors at the beginning of the year. Together with the management team and all of our employees, I look forward to carry on putting all of our plans into practice to help us increase profitability, build our platform and enable the Group to grow.
I hope we can meet at one of our functions or events in 2022, now that groups of many people are able to meet again.
Gothenburg, 11 February 2022.
Martin du Hane
VD/Group CEO Moment Group
martin.duhane@momentgroup.com
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 contact, for publication on 11 February 2022 at around 08:30 CET.