Core Insights - Tivoli A/S reported lower attendance figures, revenue, and profits for the period of January 1 to September 30, 2025, compared to the same period in 2024, primarily due to fewer opening days and the absence of COVID-19 compensation income recognized in 2024 [1][5]. Financial Performance - Revenue for the first nine months of 2025 was DKK 886.5 million, a decrease of 1% from DKK 891.0 million in the previous year [5]. - EBITDA decreased by 16% to DKK 123.2 million from DKK 147.0 million year-over-year [5]. - Profit before tax fell by 44% to DKK 34.6 million compared to DKK 61.4 million in the same period last year [5]. - Attendance figures were 2,689 thousand visitors, down 2% from 2,737 thousand in the previous year, attributed to 5% fewer opening days [5]. Operational Highlights - Tivoli experienced a successful summer season despite challenges such as unstable weather, with 1.3 million guests visiting in the first half of 2025, one-third of whom were from international markets [2]. - The company is on track with its redevelopment of a new amusement area, set to open in summer 2026, which will include new attractions and culinary experiences [2]. - Anticipation for a well-attended late summer season and upcoming events, such as the Garden & Flower Festival, is high [2]. Outlook - Tivoli has increased its revenue expectations for 2025 to a range of DKK 1,325 million and profit before tax to around DKK 145 million, reflecting a strong start to the Halloween season and positive outlook for the Christmas season [3].

Company Performance - Tivoli A/S reported a revenue of DKK 445.0 million for the first half of 2025, a decrease of 2% compared to DKK 455.3 million in the same period last year [4] - The company recorded an EBITDA of DKK -17.8 million, worsening from DKK -6.3 million in the previous year [4] - Profit before tax was DKK -76.1 million, compared to DKK -63.5 million last year [4] - Attendance figures showed 1.3 million visitors, down 5% from 1.39 million in the first half of 2024 [4] Seasonal Insights - The summer season for Tivoli opened on April 4, 2025, which was two weeks later than in 2024 due to a later Easter [1] - Despite unstable weather and significant rainfall impacting outdoor operations, overall attendance met expectations [1][2] - Approximately one-third of the visitors were from international markets, indicating growing interest from European and U.S. markets [1] Future Outlook - Tivoli maintains its revenue expectations for 2025 in the range of DKK 1,300 million and profit before tax in the range of DKK 130 million [2] - The redevelopment of a new amusement area is on track to open in summer 2026, which will include new attractions and culinary experiences [1] - The company anticipates a well-attended late summer season, particularly looking forward to the upcoming Garden & Flower Festival at the end of August [1]