Design Hotels AG Reports Results for the 1st Quarter 2010
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Design Hotels AG / Design Hotels AG Reports Results for the 1st Quarter 2010 processed and transmitted by Hugin AS. The issuer is solely responsible for the content of this announcement.
Market Recovery Continues
Berlin , April 30, 2010 - Design Hotels AG (Regulated Market, Munich: LBA;
ISIN: DE0005141006), integrated provider of marketing and positioning services
for individually managed hotels and small hotel groups in the New Luxury
Segment, today reports its results for the 1(st) quarter of 2010 under IFRS.
Financial Highlights for the Design Hotels Group:
The market recovery, which was already experienced in the fourth quarter of
2009, has continued in the first quarter of the new financial year. Even though
revenues fell once again with 8% to ?1.85 (Q1 09: 2.00) million, this comparison
is distorted due to a large marketing campaign which project revenues of
200,000 Euro which were already generated last year. The business segment
Marketing Products/Consulting achieved revenues of ?0.41 (0.72) million, 43%
under last year's figures. Booking commissions, with a contribution to overall
revenues of 46%, the most important business area, recorded a revenue growth of
11% to ?0.84 (0.76) million. Following four consecutive quarters with declining
revenues, a trend reversal was achieved in booking commissions. Revenues from
membership fees increased as well by 15% to ?0.60 (0.52) million. The growth in
this segment was on the one hand due to a larger number of member hotels and on
the other hand due to a change in the membership agreements.
The Gross Margin was with 67% below that of last year (72%)
The EBITDA came in at ?- 14,000 as compared to ?- 81,000 for the same period
last year.
The EBIT was ?- 66,000 (- 123,000). A net loss of ?- 61,000 was recorded, as
compared to a net loss of ?- 111,000 last year. The earnings per share remained
at ?- 0.01.
As of March 31(st) 2010, the Company had cash and cash equivalents to the amount
of ?2.84 million, as compared to ?2.53 million for December 31(st) 2009.
Shareholders' equity changed from ?4.80 million to ?4.73 million during the
first three months of this year.
Additional Notes:
CEO Claus Sendlinger stated, "All signs show that the travel sector is back on a
growth course. The number of bookings is increasing, especially from North
America. While we notice a clear pick-up in booking behavior with regards to
business and holiday travel, we are witnessing a lasting restraint in terms of
investments made by hotels. For 2010, we are therefore geared towards meeting
our members' most pressing needs: to do all that is necessary to increase room
capacity utilization. This year we will continue to focus on supporting our
member hotels in terms of sales.
Even though we recorded a decline in revenues in the first three months of this
year, for the full year we expect revenue growth and an improvement in our
earnings compared to last year.
The halt in air traffic in Europe following the eruption of the Icelandic
volcano had a short term negative effect on bookings after the close of the
first quarter. The Company, however, does not anticipate a lasting negative
effect on the full year results."
Detailed financials first quarter:
Revenues
For the first three months of the year, the number of brokered bookings grew by
24%. The value of the brokered bookings increased by 33% to approximately ?17.7
(13.3) million.
At the end of the quarter, 194 hotels with 14,800 rooms (12,957) were member of
Design Hotels(TM). This shows no change compared to the number of members at the
end of 2009. However, there were some changes in the portfolio. The inclusion of
The Standard Hotels in Miami, Los Angeles, and New York in the first few months
of the year meant a strengthening of our portfolio in North America.
Costs
The number of employees in the first quarter was with 68 substantially above the
60 for the same period last year. Due to adjustments in the staff structure the
related costs were, however, slightly below last year's with ?0.90 (0.91)
million.
Total operating costs (Personnel, Marketing and Sales, as well as General &
Admin) came in at ?1.31 (1.55) million. This 15% drop is related to the
production costs of last year's marketing campaign. Adjusted for this, overall
costs remained at last year's level.
An overview of costs for revenues and results development for the first quarter
of 2010 can be found in the tables below.
For more information:
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
10245 Berlin
Tel. +49 (0)30 88 494 00 03
Fax +49 (0)30 259 330-17
ir(at)designhotels.com
Schwarz Financial Communication
Frank Schwarz
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
schwarz(at)schwarzfinancial.com
Design Hotels AG (formerly: lebensart global networks AG) is an integrated
provider of communication and positioning services and acts as a consultant for
individually managed hotels and small hotel groups. The service range of design
hotels begins with the concept for a hotel. Clients of design hotels AG can
choose from a modular service portfolio. With the brand Design Hotels(TM) the
company currently represents and markets a unique collection of over 194
individual hotels in more than 40 countries. Through its marketing and
communication activities Design Hotels AG forms the connection between the
member hotel and a global clientele looking for self-determination and
individuality.
www.designhotels.com, ISIN: DE0005141006, Munich Stock Exchange (Regulated
Market)
[HUG#1410266]
--- End of Message ---
Design Hotels AG
Stralauer Allee 2c Berlin Germany
WKN: 514100;ISIN: DE0005141006;
Listed: Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg,
Freiverkehr in Börse Berlin,
Open Market (Freiverkehr) in Frankfurter Wertpapierbörse,
Regulierter Markt in Bayerische Börse München;
Full Press Release with Tables as PDF: http://hugin.info/136390/R/1410266/362819.pdf
Unternehmensinformation / Kurzprofil:
Datum: 30.04.2010 - 08:00 Uhr
Sprache: Deutsch
News-ID 20026
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Town:
Berlin
Kategorie:
Business News
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