Rezidor Hotel Group: INTERIM REPORT January-June 2012
(Thomson Reuters ONE) -
Second quarter, 2012
* Like-for like ("L/L") RevPAR was up by 5.9%.
* Revenue increased by 5.4% to MEUR 238.9 (226.7).
On a L/L basis Revenue increased by 2.8%.
* EBITDA amounted to MEUR 22.7 (14.8), and the EBITDA margin to 9.5% (6.5).
* Profit after tax amounted to MEUR 6.2 (4.7).
* Basic and diluted Earnings Per Share amounted to EUR 0.04 (0.03).
* Ca 1,300 new rooms opened and ca 2,500 new rooms were contracted.
Half year, 2012
* L/L RevPAR was up by 5.7%.
* Revenue increased by 6.3% to MEUR 445.8 (419.3).
On a L/L basis Revenue increased by 4.3%.
* EBITDA amounted to MEUR 17.7 (6.2), and the EBITDA margin to 4.0% (1.5).
* Loss after tax amounted to MEUR -7.9 (-12.7).
* Basic and diluted Earnings Per Share amounted to EUR -0.05 (-0.09).
* Cash flow from operating activities amounted to -10.7 (-20.1).
* Ca 2,200 new rooms opened and ca 3,900 new rooms were contracted
MEUR Q2 2012 Q2 2011 H1 2012 H1 2011
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Revenue 238.9 226.7 445.8 419.3
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EBITDAR 82.3 73.6 140.7 126.2
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EBITDA 22.7 14.8 17.7 6.2
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EBIT 11.7 7.0 -0.8 -9.6
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Profit/loss after Tax 6.2 4.7 -7.9 -12.7
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EBITDAR margin, % 34.4% 32.5% 31.6% 30.1%
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EBITDA margin, % 9.5% 6.5% 4.0% 1.5%
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EBIT margin, % 4.9% 3.1% -0.2% -2.3%
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Comments from the CEO Kurt Ritter
* Margin expansion, driven by a solid RevPAR growth
"I am pleased to report an improved result for the second quarter despite a
continued fragile global macroeconomic climate. Our like-for-like RevPAR
improved by a healthy 6% due to a strong performance in the emerging markets. We
outperformed the industry in terms of RevPAR growth, fuelled by the revenue
initiatives launched together with Carlson last year.
Our EBITDA margin grew by 3 percentage points supporting our Route 2015
strategy. Top line growth including additional high-margin fee revenue and lower
central costs contributed to the margin expansion. Despite a negative impact
from write downs of fixed assets of MEUR 4, mainly related to one leased
contract in Rest of Western Europe, our EBIT margin improved by 1.8 percentage
points.
During the quarter, we have successfully converted a loss making management
contract with performance guarantee into a franchise contract in Rest of Western
Europe and extended one profitable lease contract in the Nordics. We have
continued with our asset-light growth strategy, and opened 1,300 rooms in the
quarter and our pipeline remain strong and steady at 22,000 rooms.
The outlook remains very uncertain due to the current macroeconomic situation.
Hence, we remain focused on improving profitability, both in absolute terms and
relative to the industry."
Presentation of the Q2 results
On 13 July, 2012 at 15:30 (Central European Time) a combined telephone
conference and live webcast (in English) concerning the report will be presented
by the President and CEO, Kurt Ritter, and Deputy President & CFO, Knut Kleiven.
To follow the webcast, please visit www.rezidor.com
To access the telephone conference, please dial:
Sweden: +46 (0)8 5051 3793
Sweden toll-free: 0200 883 440
UK: +44 (0)20 3450 9987
UK toll-free: 0800 279 5004
US: +1 646 254 3365
US toll-free: +1877 280 2296
Confirmation code: 8113843
For a replay of the conference call (available one month) please visit
www.investor.rezidor.com or dial +46 (0)8 5051 3897 (Sweden), +44 (0)20
7111 1244 (UK) and +1 347 366 9565 (USA). Access code 8113843#
Financial calendar 2012
Q3-2012 results: 26 October 2012
Year-end -report Q4-2012 results: 13 February 2013
Q1-2013 results: 24 April 2013
This quarterly report comprises information which Rezidor Hotel Group AB (publ)
is required to disclose under the Securities Markets Act and/or the Financial
Instruments Trading Act. It was released for publication at 08h30 Central
European Time on 13 July 2012.
For further information, contact
Knut Kleiven
Deputy President & CFO
+32 2 702 9244
+32 2 702 9330
knut.kleiven(at)rezidor.com
Ebba Ankarcrona
Director, Investor Relations
+32 2 702 9286
+32 2 702 9300
ebba.ankarcrona(at)rezidor.com
The Rezidor Hotel Group Corporate Office
Avenue du Bourget 44
B-1130 Brussels
Belgium
Tel. +32 2 702 9200
Fax: +32 2 702 93 00
Website: www.rezidor.com
About the Rezidor Hotel Group
The Rezidor Hotel Group is one of the most dynamic and fastest growing hotel
companies in the world. The group currently features a portfolio of 434 hotels
with 94,700 rooms in operation and under development in more than 65 countries
across Europe, the Middle East and Africa. Rezidor operates the core brands
Radisson Blu and Park Inn by Radisson - as well as Hotel Missoni, a lifestyle
brand which is developed worldwide following a licence agreement with the iconic
Italian fashion house Missoni. Rezidor is a member of the Carlson Rezidor Hotel
Group.
For more information, visit www.rezidor.com
The full report with tables can be downloaded from the following link:
Rezidors Interim Report January-June 2012:
http://hugin.info/142138/R/1626421/520356.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Rezidor Hotel Group via Thomson Reuters ONE
[HUG#1626421]
Unternehmensinformation / Kurzprofil:
Datum: 13.07.2012 - 08:31 Uhr
Sprache: Deutsch
News-ID 165034
Anzahl Zeichen: 7363
contact information:
Town:
Brussels
Kategorie:
Business News
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