Telia Parken, luftfoto

Parken Sport & Entertainment expectations for 2020

F.C Copenhagen's progress to the UEFA Europa League quarter-finals has shown once again that the club is the lead name in Scandinavian football.

However, while progress has provided additional income, it does not significantly change the fact that the COVID-19 pandemic has been extremely costly for PARKEN Sport & Entertainment.

We therefore announce a preliminary negative result before tax for 2020 of between DKK 150m to DKK 200m. The original expectation was a profit before tax of between DKK 0 to DKK 20m.

Chairman of the Board Bo Rygaard emphasises that there is still great uncertainty about the final result, as the company does not yet know when and to what extent the group can resume activities.

"We are still in a situation that is literally changing from day to day in both directions," he states.

"It is, of course, frustrating and annoying that the COVID-19 pandemic has hit us hard across a wide front, from football to Lalandia, but we can rejoice that both F.C. Copenhagen and Lalandia under the difficult conditions have delivered satisfactory results."

The Chairman of the Board is pleased that PARKEN Sport & Entertainment has strengthened all business areas, both sporting and commercial, in recent months.

At the same time, the first quarter proved more positive than expected until the pandemic hit. In terms of liquidity, the Group is well equipped through additional capital resources of DKK 440m.

PARKEN Sport & Entertainment expects a turnover of between DKK 550m to DKK 600m. DKK, against the expected DKK 900m to DKK 950m forecast at the beginning of the year.