PSE expectations for 2020

Parken Sport & Entertainment has downgraded expectations for 2020 to a profit before tax of between -310m DKK and -280m DKK.

The downgrade is due to the results for the first nine months of the year and expectations for the fourth quarter, including the prospect that the continued Covid-19 restrictions for the rest of the year will impact on F.C. Copenhagen, Lalandia and the stadium activities hard.

"With the latest announcement from the government, we can not expect to welcome our fans back inside Parken for the time being," says chairman of the board Bo Rygaard.

"It is a sad and serious development for football in Denmark, and we also do not believe that there is evidence for the necessity of such a restrictive approach. On the contrary, we have proven that we can have up to 8,000 spectators watching in sound conditions. I will urge the government to rethink the decision and show willingness to accommodate."

PSE now expects revenue in the range of 510m DKK to 560m DKK, and a profit before tax of -310m DKK and -280m DKK in 2020. The most recently announced expectations were a revenue in the range of 485m DKK to 585m DKK and a profit before tax of -250m DKK to -200m DKK.

The interim report up to 30 September 2020 will be announced 3 November 2020.