Thunderbird Resorts Inc.: 2012 Annual Report Filed; March 2013 Revenue Report
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Thunderbird Resorts Inc.: 2012 Annual Report Filed; March 2013 Revenue Report
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PANAMA, REPUBLIC OF PANAMA--(Marketwired - April 19, 2013) - Thunderbird Resorts
Inc. ("Thunderbird") (FRANKFURT:4TR)(EURONEXT:TBIRD) is pleased to announce that
its 2012 Annual Report and Audited Consolidated Financial Statements have been
filed with the NYSE Euronext ("Euronext Amsterdam") and the Netherlands
Authority for Financial Markets ("AFM").
As a Designated Foreign Issuer with respect to Canadian securities regulations,
the Annual Report is intended to comply with the rules and regulations set forth
by the AFM and the Euronext Amsterdam. Copies of the Annual Report in the
English language will be available at no cost at the Group's operational office
in Panama and at the offices of our local paying agent ING Bank N.V., van
Heenvlietlaan 220, 1083 CN Amsterdam, the Netherlands (tel: +31 20 7979 398,
fax: +31 20 7979 607, email: iss.pas(at)mail.ing.nl) and they are available on the
Group's website at www.thunderbirdresorts.com. Copies are also available on
SEDAR at www.SEDAR.com and on the Euronext Amsterdam at www.euronext.com.
Thunderbird is also required to file an Annual Document with links to all
documents disseminated to shareholders during the past year. This Annual
Document is available on our website at www.thunderbirdresorts.com.
MARCH 2013 REVENUE REPORT
The Company reports the following revenues for March 2013. For a more detailed
analysis of March 2013 revenue, please visit www.thunderbirdresorts.com and
click on "March 2013 Revenue Report - Analysis" located on the home page under
"News and Press Releases".
+--------------------------------------------+-------+-----+-------------------+
|Thunderbird Resorts Inc. - Group-wide sales | March|March| Year-over-year|
|results by country (unaudited, in millions) |2013[2]| 2012|increase/(decrease)|
+--------------------------------------------+-------+-----+-------------------+
|Philippines | 4.26| 4.74| -10.13%|
| | | | |
|Peru[1] | 2.41| 2.31| 4.33%|
| | | | |
|Costa Rica | 1.43| 1.59| -10.06%|
| | | | |
|Nicaragua | 1.23| 1.03| 19.42%|
+--------------------------------------------+-------+-----+-------------------+
|Total Consolidated Operating Revenues | 9.33| 9.67| -3.52%|
+--------------------------------------------+-------+-----+-------------------+
[1] 2013 and 2012 hotel revenues consist of revenue from the Fiesta Hotel only
plus management fees for the Thunderbird Hotel - Pardo, Thunderbird Hotel -
Carrera and Thunderbird Hotel - El Pueblo.
[2] Effective January 1, 2013, IFRS 11 changed the way that joint ventures are
accounted for whereby proportional consolidation is no longer allowed and equity
accounting should be applied to joint ventures. Until further notice and for the
convenience of the reader and for the illustrative purposes of this monthly
revenue report, the Group has elected to continue to show the Costa Rican joint
venture proportional revenues, which may vary from the way that the Group will
account for these same revenues in our Interim and Annual Audited Financial
Statements.
ABOUT THE COMPANY
We are an international provider of branded casino and hospitality services,
focused on markets in Asia and Latin America. Our mission is to "create
extraordinary experiences for our guests". Additional information about the
Group is available at www.thunderbirdresorts.com.
Cautionary Notice: Cautionary Notice: The Annual Report referred to in this
release contains certain forward-looking statements within the meaning of the
securities laws and regulations of various international, federal, and state
jurisdictions. All statements, other than statements of historical fact,
included in the Annual Report, including without limitation, statements
regarding potential revenue and future plans and objectives of Thunderbird are
forward-looking statements that involve risk and uncertainties. There can be no
assurances that such statements will prove to be accurate and actual results
could differ materially from those anticipated in such statements. Important
factors that could cause actual results to differ materially from Thunderbird's
forward-looking statements include competitive pressures, unfavorable changes in
regulatory structures, and general risks associated with business, all of which
are disclosed under the heading "Risk Factors" and elsewhere in Thunderbird's
documents filed from time-to-time with the NYSE Euronext Amsterdam and other
regulatory authorities. Included in the Annual Report are certain "non-IFRS
financial measures," which are measures of Thunderbird's historical or estimated
future performance that are different from measures calculated and presented in
accordance with IFRS, within the meaning of applicable Euronext Amsterdam rules,
that are useful to investors. These measures include (i) Property EBITDA
consists of income from operations before depreciation and amortization, write-
downs, reserves and recoveries, project development costs, corporate expenses,
corporate management fees, merger and integration costs, income/(losses) on
interests in non-consolidated affiliates and amortization of intangible assets.
Property EBITDA is a supplemental financial measure we use to evaluate our
country-level operations. (ii) Adjusted EBITDA represents net earnings before
interest expense, income taxes, depreciation and amortization, equity in
earnings of affiliates, minority interests, development costs, and gain on
refinancing and discontinued operations. Adjusted EBITDA is a supplemental
financial measure we use to evaluate our overall operations. Property EBITDA and
Adjusted EBITDA are supplemental financial measures used by management, as well
as industry analysts, to evaluate our operations. However, Property and Adjusted
EBITDA should not be construed as an alternative to income from operations (as
an indicator of our operating performance) or to cash flows from operating
activities (as a measure of liquidity) as determined in accordance with
generally accepted accounting principles.
Thunderbird Resorts Inc.
Peter LeSar
Chief Financial Officer
(507) 223-1234
plesar(at)thunderbirdresorts.com
www.thunderbirdresorts.com
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originality of the information contained therein.
Source: Thunderbird Resorts Inc. via Thomson Reuters ONE
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Datum: 19.04.2013 - 19:46 Uhr
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News-ID 250935
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