Interim Report 1 January–31 March 2022

We have put yet another turbulent quarter behind us following the reintroduction of restrictions at the end of last year, which were made even more stringent in the beginning of January. Consequently, the majority of our arenas had to postpone their seasonal opening, while the demand for tickets for upcoming periods declined. However, we are pleased to note that since being allowed to reopen all of our operations at the end of February, we have enjoyed good seat occupancy, especially for our major productions, and strong demand in our two event companies, while most of the other operations note a cautious positive trend after years of closure.

Net sales for the quarter totalled SEK 117 million with an operating loss of SEK -20 million. During the quarter, SEK 7 million in government grants was recognised as revenue. Cash flow from operating activities was positive during the period and totalled SEK 9 million (19). The Group exited the period with SEK 134 million in cash and cash equivalents, which was a decrease of SEK -4 million for the period. Outgoing liquidity is better than forecast and provides good opportunities for us to look after our future priorities. 

At the end of the quarter, prepaid ticket revenues totalled SEK 84 million (50), which is a good indication of the company’s sales position in the run-up to upcoming periods, even though revenues were affected by the size of the production portfolio. Our event companies have also experienced increasing demand during recent periods, and the willingness of our customers to plan physical events creates challenges in terms of finding vacant capacity for both travel and lodging.

Events in the world following Russia’s invasion of Ukraine, with increased costs for e.g. fuel, electricity and food, impact the wallets of our guests, and the money they set aside for experiences, entertainment and activities may well be reduced. This places further demands on us to adapt as an organisation and manage these challenges in the best way possible.

We are now looking forward and busy planning for summer and autumn, where our productions are ready for sale. We are looking forward to welcoming guests again during the summer months at the Krusenstiernska Theatre in Kalmar and to the Vallarna open-air theatre in Falkenberg. We have delivered these fine summer traditions for many years now.

We would also like to draw attention to the fact that this year the Group will turn 35, and it is particularly rewarding to celebrate this after the challenges of recent years. We are well equipped to get to grips with our priorities moving forward with a well-balanced mix of experience and innovative thinking among our employees – combined with good liquidity.

My colleagues and I are looking forward to meeting you all in our arenas and at events in the near future, and we are convinced that any uncertainties in the world at large will make meeting and strengthening relationships even more important, both privately and professionally, and we see ourselves as an important player in this regard.

Gothenburg, 5 May 2022

Martin du Hane

CEO/Group CEO Moment Group
[email protected]

This disclosure comprises information that Moment Group AB is obliged to disclose according to the EU market abuse regulation. The information was submitted through the auspices of the above-mentioned contacts, for publication on 05 May 2022 at around 08:30 CEST