Erlebnis Akademie AG closes 2021 with satisfactory sales development despite massive pandemic restrictions and launches three new projects in 2022

Bad Kötzting, 9 May 2022 –  DAccording to preliminary figures, Erlebnis Akademie generated consolidated sales of EUR 14.6 million in 2021, compared with EUR 14.9 million in the previous year (-2.37%), despite more severe restrictions than in 2020.  Both 2021 and the benchmark year 2020 were strongly influenced by the long-lasting Corona-related site closures - however until September 30, 2021 only, with 220 additional closing days compared to the previous year 2020. In terms of preliminary consolidated operating profit (EBIT) 2021, EAK generated 2.5 million euros compared to 1.8 million euros in the previous year (+45.14 %). According to preliminary figures, EBITDA was €6.9 million, up 20.6% from €5.7 million in 2020. At the level of the corporation, which comprises the German business, Erlebnis Akademie generated sales of 9.6 million euros (+9.75 %) compared to 8.8 million euros in the previous year and an EBIT of 1.3 million euros compared to 0.8 million euros in 2020 (+74.37 %). EBITDA was €3.7 million compared to €2.6 million in the previous year (+42.16%). The scheduled reduction of the shares in Chodnik Korunami Stromu (CHKS) from previously 66% to now 49% had a positive effect on EAK's result. 

"We performed very well in 2021. Although we were not able to achieve the full potential of our treetop walks due to the pandemic-related conditions and the resulting far more difficult starting position, we were only slightly behind the previous year in terms of group sales despite the lower number of opening days," said Christoph Blaß, CFO of Erlebnis Akademie. "At the same time, we were able to cushion the financial impact of the Corona restrictions in Germany for Erlebnis Akademie via consistent cost management and compensation payments from the government's Bridging Assistance III."

Due to Corona, all of the company's sites across Europe, including food service operations, remained largely closed in the first half of 2021. After the reopening of all operations by mid-June, significant restrictions nevertheless remained in the third and fourth quarters due to 2G/3G access restrictions as well as distance and hygiene regulations and travel constraints. 

Until 22 April 2022, especially in Germany, many hot spot regulations in Mecklenburg-Vorpommern and Bavaria still had to be taken into account, which no longer directly affected the operation of the treetop walks per se, but did affect gastronomy and merchandise stores. The general tourist behavior, especially in these areas, was still restricted until then. Since the end of April, all Erlebnis Akademie sites have been running under normal conditions. 

"As of today, we expect to be able to keep all of our facilities running into the fall - and thus throughout our key core months of the year - without any further restrictions," reports Bernd Bayerköhler, CEO of Erlebnis Akademie AG. "In addition, we are opening two new locations this summer (Ireland and Canada) and, on top of that, we are expanding the location in Alsace with a spacious adventure playground that will generate additional revenue. We were also able to further develop our project pipeline in terms of projects already in the planning stage during the pandemic and are already in concrete negotiations for further projects in Germany and abroad. With regard to the implementation dates of new projects, the sharp rise in prices and difficulties in the supply chains for construction and raw materials must currently be taken into account. So we are currently waiting with the forecast of implementation schedules for new projects until the underlying conditions for investments become more reliable again."

Note: The final consolidated financial statements for 2021 will be available for download for investors from 30 June 2022 onwards on the website of Erlebnis Akademie at www.eak-ag.de in the Investors section. As there were still some significant Corona restrictions in the first quarter, Erlebnis Akademie will not start publishing regular quarterly reports again until the second quarter. The quarterly report for the second quarter will be published on 18 August 2022.

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Erlebnis Akademie AG closes 2021 with satisfactory sales development despite massive pandemic restrictions and launches three new projects in 2022