Revenue is marginally lower this quarter than the corresponding period last year, while gross margins are comparatively higher. At the same time, total revenue for the year shows an increase and volumes translated into the number of bookings are higher than the previous year.

– The booking situation remains strong in all our segments – private travel, corporate travel and events. Given growing turnover and record high bookings, we have chosen to invest in new sales staff in several subsidiaries to be equipped for the future. This results in increased personnel costs, which in the short term has a negative impact on our EBITA, comments President and CEO Charlotte Blum.

FINANCIAL DETAILS FOR THE PERIOD JULY-SEPTEMBER 2023
JULY – SEPTEMBER 2023

• Turnover amounted to SEK 181.6 million (SEK 205.9 million July – September 2022)
• The gross margin amounted to 22.8 (19.5) percent.
• Operating profit, EBITA, amounted to SEK 5.9 (9.9) million.
• Earnings per share amounted to SEK 0.42 (0.64).

JANUARY – SEPTEMBER 2023

• Turnover amounted to SEK 477.9 million (SEK 467.6 million January – September 2022)
• The gross margin amounted to 22.1 (22.1) percent.
• Operating profit, EBITA, amounted to SEK 7.1 (17.4) million.
• Earnings per share amounted to SEK 0.22 (0.90).

IMPORTANT EVENTS DURING AND AFTER THE PERIOD

• 2023 continues to show a record high booking level, which makes us look forward with confidence to a year with strong sales.
• We have adjusted our calculations to increased transportation and hotel costs, which has resulted in a gross margin that is better than the previous year.
• Given growing sales and record bookings, we have chosen to invest in new sales staff in several subsidiaries to be prepared for the future and create opportunities for organic growth. The effect of this will come later and will result in increased personnel costs in the short term, which will negatively affect our EBITA.
• PolarQuest decided in July to cancel the Greenland season due to technical problems with the vessel M/S Balto, which affects sales and results for the current season. Costs related to canceled trips have been reserved in June, negotiations are underway regarding advances regarding vessel rental - SEK 2.6 million has been reserved in the financial statements.
• Johanna Hanski took office as the new CFO on November 6 and succeeds Susanne Finér, who will remain until Christmas to ensure a smooth handover.
• During the period, we have signed a letter of intent regarding the acquisition of 70% of the shares in Sydamerikaexperten.

THE CEO HAS A WORD

After two strong quarters, we can see that demand for travel and events is continuing to grow in Q3, with the number of travelers increasing. Demand for premium experiences, both for personal and professional purposes, remains high, and thanks to our strong purchasing power and diversified model, we have a very strong booking position, despite a declining economy and an uncertain environment.

According to the press release.