Half-Year Report

September 2018 – February 2019

RECORD RESULTS FOR THE FIRST HALF OF 2018/19

Second Quarter

• Revenue for the second quarter was SEK 1,431 (1,290) million, an increase of SEK 141 million (11 percent) compared with the previous year.

• Profit after tax for the second quarter was SEK 555 (502) million, an increase of SEK 53 million (11 percent) compared with the previous year.

• Earnings per share amounted to SEK 6.95 (6.28), an improvement of 11 percent.

First six months

• Revenue for the first six months was SEK 1,628 (1,436) million, an increase of SEK 192 million (13 percent) compared with the previous year.

• Profit after tax for the first six months was SEK 410 (323) million, an increase of SEK 87 million (27 percent) compared with the previous year.

• Earnings per share amounted to SEK 5.22 (4.08), an improvement of 28 percent.

Comments from the CEO Mats Årjes

Continued strong interest in alpine skiing is the underlying reason that SkiStar can

present the best half-year result in its history. Profit after tax is SEK 87 million more

than last year.

During the quarter, which includes Christmas and New Year and much of the Swedish

spring school break period, the number of skier days increased by one percent from

the corresponding period last year. The Christmas and New Year periods as well as

the spring school break period have led to new visit and sales records. The quarter

ended with total sales growth, including the exploitation business, of 11 percent.

This season we have only one Easter week, 15-22 April. Last year we had two earlier

Easter weeks, from 26 March to 8 April. This means that our booking situation (through

SkiStar accommodation agency operations) for the remaining season is seven percent

lower than at the same time last year. The later Easter will of course also mean later

bookings, which affects the comparative figures.

We see continuing strong demand for land, flats and Vacation Club shares at our

destinations. The quarter’s capital gains from property development and exploitation amounted to SEK 41 million, which is SEK 36 million higher than the second quarter last year. Accumulated capital gains amount to SEK 143 million. We stand by our forecast that capital gains on our exploitation business will rise during this financial year.

The Alpine World Championships in Åre also took place during the period. We are

delighted that all events went as planned and are pleased about the exposure we

received from our title sponsorship. Traffic to skistar.com from abroad increased during

the period. For example, in a potential growth market like the UK, we saw a 70 percent

increase in traffic to skistar.com.

It is also pleasing to see that engagement in SkiStar’s MySkiStar customer club

continues to increase. The number of registered members now exceeds 863,000, an

increase of 15 percent from last year. We received high praise for our digital initiatives

when, in mid-March, we were voted Sweden’s best site in the IDG Topp 100, an annual

list of Sweden’s best websites.

With a strong first half behind us, our focus is now on winding up this year’s season as

well as starting preparations for 2019/20. We will also continue to invest in Sälen and

Trysil as a partner to the construction of Scandinavian Mountains Airport. The schedule

for the first planes to land in December 2019 remains unchanged. As with the World

Championships in Åre, it is part of our strategy to draw new foreign guests to our

destinations.

This information is information that SkiStar AB is obliged to make public pursuant to the

EU Market Abuse Regulation and the Securities Markets Act. The information was

submitted for publication, through the agency of the contact persons set out below, at

20 March 2019, 07.30 a.m. CET.

SkiStar in brief:

SkiStar is listed on the Nasdaq Mid Cap, Stockholm. The Group owns and operates

alpine destinations in Sälen, Åre, Vemdalen and Hammarbybacken (Stockholm) in

Sweden, Hemsedal and Trysil in Norway and St. Johann in Tirol in Austria. Market

share is 49% in Sweden, 30% in Norway and 41% in Scandinavia. The Group’s core

business is alpine skiing, with a focus on the guests’ overall skiing experience.

Operations are divided into two segments; Operation of Ski Resorts and Property

Development & Exploitation.

Further information can be reached from:

Mats Årjes, CEO tel +46 (0)280 880 80

Anders Örnulf, CFO tel +46 (0)280 880 80