Tivoli A/S - Stock Exchange Announcement No 12 - 3rd quarter 2016

Interim Report for the Period 1 January - 30 September 2016

The Supervisory Board of Tivoli A/S has at the board meeting considered and adopted the Interim Report for the period 1 January - 30 September 2016.

Results at 30 September 2016 in outline:

• Revenue including tenants and lessees: DKK 885.7 million compared to DKK 979.1 million last year (-10%).
• Revenue: DKK 653.3 million compared to DKK 678.2 million last year (-4%).
• EBITDA: DKK 101.6 million compared to DKK 95.1 million last year (+7%).
• EBIT: DKK 37.4 million compared to DKK 29.1 million last year (+29%).
• Profit before tax: DKK 34.9 million compared to DKK 25.3 million last year (+38%).
• Profit after tax: DKK 26.1 million compared to DKK 19.4 million last year (+35%).
• Number of guests was 3,040,000 compared to 3,142,000 last year (-3%).

"Revenue incl. tenants and lessees for the period 1 January - 30 September 2016 is DKK 93.4 million (-10%) lower compared to the same period last year. The main reasons are the construction of the Tivoli Corner, which entails the temporary closure of some commercial activities and a lower result from cultural activities. In spite of the expected decrease in revenue, Tivoli has improved the result before tax by DKK 9.6 million (+38%) during the first nine months of 2016. The improvement is driven by optimization and cost adjustment. We find the result for the period satisfactory," says CFO, Andreas Morthorst.

Expectations for 2016

The weather and other external factors have a material impact on Tivoli's business and thus the development in profit for the year. For 2016, a revenue of approximately DKK 900 million and a profit before tax between DKK 60 and 70 million is still expected.

Yours sincerely

Jørgen Tandrup                                                                                     Lars Liebst

Chairman of the Supervisory Board                                                   CEO

Contact person:  Torben Plank, Head of Press (tel +45 33 75 04 40 / tpl@tivoli.dk)

Vedhæftede filer:

Stock exchange announcement no. 12 - 27.10.2016 - Q3 - UK.pdf