ANNUAL rEport 2008 - Tivoli

ANNUAL rEport 2008
Future plans for tivoli Subsidiary and
Joint Venture
Tivoli will in future years continue its efforts to create more
year-round activities. Considering the current economic slowdown,
not just in Denmark but across the world, it must, however,
be expected that very large projects such as Tivoli Edge
will have to be realised over a larger number of years than previously
assumed. The strategic alliances, such as the alliance
with the Arp-Hansen Hotel Group A/S, thus become even more
important to Tivoli’s development, and efforts to capitalise
more on the Tivoli brand through various working relationships
will continue.
The Tivoli Gardens will continue to be the Company’s primary
activity and their operations and development will continue as
previously with focus on the areas rides, food & beverage, entertainment,
games and gardens.
Even if budgets will be subject to careful prioritisation, Tivoli
will continue to take initiatives to develop within the abovementioned
areas. Novelties in 2009 will include a new, major
ride, an exciting computer game competition and a new dance
show with scenography by Her Majesty Queen Margrethe.
The sales link has been strengthened by additional focus on
business-to-business on the part of the sales department, and
on business-to-consumer through expansion of Tivoli’s web
shop which will be continued in future years.
The preservation case concerning the Hans Christian Andersen
Castle has now been finally decided and it has been established
that the building will not be listed. There are, however, no future
plans for the building right now. It will be leased for exhibition
purposes etc to the extent possible.
In light of the gloomy economic prospects, Tivoli expects revenue
in the order of DKK 590 – 610 million with a profit before
tax at the level of DKK 30 – 40 million for the 2009 financial
year (12 months).
Special praise for Gardens, Cleaning & Waste Collection
The department Gardens, Cleaning & Waste Collection comprises cleaning, general workers, recycling and gardeners.
During the year, these areas were tested by mystery visitors and the marks achieved were so good that the department
received a special prize at the “Georg of the Year” event 2008 at which tivoli’s internal service prizes were awarded.
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tivoli International A/S
The object of Tivoli International is to sell know-how and develop
Tivoli amusement parks internationally. Today the business model includes
internal project development and sales of consultancy services.
Tivoli International is constantly approached by foreign parties who
are interested in Tivoli’s unique concept and business model.
For example, representatives of a number of potential business partners
paid several visits to Tivoli during 2008. Tivoli International
continues its search for new, serious interested parties with a view
to establishing new international amusement projects, Tivoli or
non-Tivoli branded. At the end of 2008, the business agreement with
Kurashiki Tivoli Park in Japan was terminated. The termination will
be of no financial consequence to Tivoli.
In spite of the financial crisis, New York City is continuing its work
process of gradually revitalising the historical amusement area Coney
Island. Tivoli International is in continuous dialogue with the City.
Moreover, Tivoli International and leading international designers
and specialists have cooperated with a recognised New York NGO on
the preparation of a preliminary overall plan for the area.
The profit before tax for the year amounted to DKK 0.2 million corresponding
to the profit for the 2007/08 financial year.
Tivoli International is wholly owned by Tivoli A/S..
Løgismose-Nimb A/S
The company Løgismose-Nimb A/S operates the Nimb gourmet
house, which reopened on 1 May 2008 following thorough renovation.
The building, which was constructed in 1909 and named after the
Nimb restaurant family, includes a small exclusive hotel, several
restaurants, reception rooms and a deli outlet with own production
of dairy products and chocolate.
The members of the Supervisory Board of Løgismose-Nimb A/S are
Peter Eriksen Jensen, Director, Jacob Grønlykke, Director, Lars Liebst,
CEO and Claus Dyhr, CFO.
The loss before tax for the year amounted to DKK 14.5 million compared
with a loss before tax of DKK 2.3 million in 2007/08.
Tivoli A/S’ share of ownership is 49.99%.