Q1 · 2026/27 Budget
Season budget 2026/27
ARC question: Budget for the 2026/27 season.
Budget summary
NOK millions
| Line item | 2025 actual | 2026/27 budget |
|---|---|---|
| Revenue | 113.6 | To be finalised |
| Direct operating costs | — | To be finalised |
| Personnel costs | — | To be finalised |
| Transport | — | To be finalised |
| Food & catering | — | To be finalised |
| Commissions | — | To be finalised |
| Marketing | — | To be finalised |
| Camp operating costs | — | To be finalised |
| Technology / systems | — | To be finalised |
| Other operating costs | — | To be finalised |
| EBITDA (accounting) | 27.9 | To be finalised |
| Planned capex | — | Mgmt. budget in progress |
Budget commentary
- Pre-season bookings are broadly in line with last season.
- Product, pricing and direct-sales improvements provide upside.
- Management expects performance broadly in line with or ahead of the prior season.
- Working assumption for underlying EBITDA is ~NOK 40m before any ARC / RE synergies.
Working assumption
~40NOK m
Underlying EBITDA · management view · subject to agreed normalisation methodology
EBITDA bridge — 2025
Cost split into Direct / Personnel / Other opex pending GL mapping
Direct costs: to be finalisedPersonnel: to be finalisedOther opex: to be finalised
2025 actual vs 2026/27 budget
Budget bars populate once figures are finalised
Figures shown are management figures based on the general ledger and are preliminary pending final statutory reconciliation and agreed normalisation methodology.