Indledning
Tivoli A/S er en internationalt kendt forlystelsespark beliggende i centrum af København. Parken er verdens næstældste af sin slags.

Tivoli A/S blev grundlagt af Georg Carstensen i 1843. Havens areal er stort set det samme i dag som dengang. Tivoli er den suverænt mest besøgte turistattraktion i Danmark.

Parken er Europas tredje mest besøgte forlystelsespark, kun overgået af Disneyland Paris og Europa-Park i Tyskland.

Tivoli A/S’ indtægter kommer fra entré og forlystelser, koncertsal og hoteldrift, samt udlejning af forretninger og restauranter.

I dag har Tivoli omkring 4,2 millioner gæster pr. år fordelt på tre sæsoner: Sommersæsonen (ca. 2.8 mio. gæster), Halloween i Tivoli (417.000 gæster), og Jul i Tivoli (982.000 gæster).

Tivoli A/S er et børsnoteret aktieselskab med en omsætning i 2013 på 735,9 mio. kr., samt et resultat før skat på 42,6 mio. kr. Virksomheden havde 716 medarbejdere i 2013.

Indholdsfortegnelse
Description of the task:
A. Analysis of Profitabilty
B. Analysis of Earnings
C. Liquidity and Solidity
D. Summary and Conclusion

Optimer dit sprog - Læs vores guide og scor topkarakter

Uddrag
Profit Ratio
The profit ratios have been increased and decreased like the rate of return, the numbers have been increasing 0,6 percentage points from 2011 to 2012, and it dropped, with 0,1 percentage point in 2013. The profit ratio numbers are higher than the rate of return the cause of the could be that Tivoli has invested in a new hotel.

The hotel will first be done in 2016, therefore Tivoli has not yet gotten any profit from the hotel. Asset Turnover
The company has had an approximately, the same amount of asset turnover throughout these three years.

Debt Interest ratio
The debt intterest ratio, has been decreasing, which is a good thing. The debt interest ratio is normaly on 3-6%, but Tivoli has had in 2011 2.2% and since then it dropped to 1.9% in 2012, and in 2013 it fell with 0.1 percentage point, so it ended on a 1.8% in 2013.

These numbers are quite surprising, since they have been working on a new hotel, where it would be highly likely to take a loan, which would icnrease their debt inerest ratio.

It is also important to point out that their debt interest ratio is lower than their rate of return, which indicate that the company is not in a crisis.

Return on Equity
The return of equity is also one of the key numbers, which has been increasing in these years in 2011 it was on 5.6%, but it increased to 6.8% in 2012 and then in dropped in 2013 with 0.2 percentage points.

This means that the company has had more money into the company, which they could invest in, and these numbers is also connected to the rate of return and profit ratio, which indicate that the company are actually, doing better.

Conclusion on Profitability
During the analysis of the Tivioli’s key numbers, it seems, to be a profitable company, they have been increasing their return of Equity, which means they have to had an increase of rate of return and the profit ratio, of the company.

To support this statement, there are proof of the company y decreasing their debt interest ratio, during this period, which is defiantly a good sign, since it tells, that the company is able to pay its debts.

Therefore, it can be concluded, that the firm is profitable currently.