SkiStar AB Q1 2022 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Adela Dashian - Handelsbanken - Analyst : Yes, good morning, everyone. My first question relates to the booking trend for the upcoming winter season. So, you just disclosed that bookings are 13% higher than the pre-pandemic year. But from I remember, that is a 2% decline from what you reported after Q4. So, could you please give us any details on what has caused the decline? And is it mostly the national gas canceling, or what is really going on behind this new figure?

Question: Adela Dashian - Handelsbanken - Analyst : So, the 15% figure that you reported after Q4, that was comparable to what it was at that time in [2020]? REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 20, 2021 / 9:00AM, SKISb.ST - Q1 2022 SkiStar AB Earnings Call

Question: Adela Dashian - Handelsbanken - Analyst : Okay. Okay. Got it. Okay, makes sense. Could you then also maybe talk a little bit more about your expectations for Norway? Because we all know when media restrictions are starting to get a bit harsher there. So if you could give us any kind of details on the booking trends specifically for your Norwegian ski resorts or your expectations there, that would be great.

Question: Adela Dashian - Handelsbanken - Analyst : That sounds like you can compare it to the last winter season that it will be easier to enter Norway this year than it was last year from Sweden and the --

Question: Adela Dashian - Handelsbanken - Analyst : Great, okay. And then also, a bit more about the seasonal variations when it comes to your hotel operations. Obviously, it's a bit difficult to forecast given the lack of historic figures. So, how should we interpret the results for Q1 in this specific segment and also going forward?

Question: Adela Dashian - Handelsbanken - Analyst : And I would assume that the plan is for more hotels to open. And yes, I'm sure you have a lot more in the pipeline for the future in order to grow this segment, correct?

Question: Adela Dashian - Handelsbanken - Analyst : Right. Of course. I just have one final question. And that is about the closing of the St. Johann transaction. How is that going?

Question: Adela Dashian - Handelsbanken - Analyst : So, we should include it for the upcoming winter season in our estimates?

Question: Adela Dashian - Handelsbanken - Analyst : Okay, okay. Great. Thank you very much. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 20, 2021 / 9:00AM, SKISb.ST - Q1 2022 SkiStar AB Earnings Call

Question: Karl-Johan Pomotek - DNB Market - Analyst : Yes. Good morning, Stefan and Anders. Just a couple of question from me as well, please. Coming back to the pandemic impact, because I think everybody is struggling with for the moment [than the 90s]. You're talking, [part] in a good way. But just to get a feel for it. If we ended up in the kind of negative scenario that borders closes down again and all the great things that are now looking to come to you are not able to visit you for one reason or another. You've been able to build more flexibility into your business model. Because I saw in the statement, you were talking about scenario analysis and having different kind of measures to implement if different kind of things happen. Have you enable to create some sort of extra flexibility in this year compared to earlier years?

Question: Karl-Johan Pomotek - DNB Market - Analyst : I agree with you. I agree with you. But I guess you must have learned from being forced to basically then close down at the end of that season two years ago and then part of last year to have better flexibility also in the underlying business model to be able to balance if these kind of things but you obviously can't control yourself happens.

Question: Karl-Johan Pomotek - DNB Market - Analyst : Follow-on to that, when -- this operation that you now acquired in Trysil that is sports retail operation, what kind of revenue would that operation have in a normal year?

Question: Karl-Johan Pomotek - DNB Market - Analyst : And when you are now looking to come back with a renewed investment focus. Could you give us some idea about the size of the investment you're looking to do in +re and what kind of time duration when you believe that this will be in place?

Question: Karl-Johan Pomotek - DNB Market - Analyst : Excellent. And when I look at the exploration portfolio highlighted, it was a little of the same -- it's not the same kind of volumes, obviously, coming through in your exploration operation. When do you feel that you're back on track there again? Is it this year you expect it to be a slow year for you in total, or is there a pent-up opportunity for the coming quarters?

Question: Karl-Johan Pomotek - DNB Market - Analyst : But if I understand it right, you have both projects in +re and SSlen that is coming into harvesting during the season already. REFINITIV STREETEVENTS | www.refinitiv.com | Contact Us consent of Refinitiv. 'Refinitiv' and the Refinitiv logo are registered trademarks of Refinitiv and its affiliated companies. DECEMBER 20, 2021 / 9:00AM, SKISb.ST - Q1 2022 SkiStar AB Earnings Call

Question: Karl-Johan Pomotek - DNB Market - Analyst : And one final for me. I notice, Anders, that the IFRS 16 impact obviously increased with the hotel operations coming in. Do I understand it right that the impact on the financial net is around SEK9 million from that, up from SEK4 million before, or -- because that's all -- I think it's described as a delta in change or something?

Question: Karl-Johan Pomotek - DNB Market - Analyst : Excellent. Thank you very much, and good luck with the management of the season. And good to hear that you're open and with good snow production in all areas. Sounds promising.

Question: Adela Dashian - Handelsbanken - Analyst : Yes. Just a follow-up on the comments about the development in Norway, Stefan. Did you say that the Norwegian booking trend is on par with the 2018/19 winter season?

Question: Adela Dashian - Handelsbanken - Analyst : Thanks.