Rezidor Hotel Group: INTERIM REPORT January-June 2015
(Thomson Reuters ONE) -
Second Quarter 2015
* Like-for-like ("L/L") RevPAR for leased and managed hotels was up by 4.9%.
The growth is due to an increase in average room rate as well as higher
occupancy.
* Revenue increased by 6.8% to MEUR 263.8 (247.1). The increase is mainly due
to the positive RevPAR development and the weakening of the Euro. On a L/L
basis Revenue increased by 4.7%.
* EBITDA amounted to MEUR 33.6 (30.8) and the EBITDA margin increased to
12.7% (12.5). The earnings were positively impacted by the good RevPAR
development and lower net costs for the hotel closed for renovation in Lyon
in France, however partly off-set by changes in bad debts provisions,
increased central costs and higher marketing costs.
* EBIT amounted to MEUR 23.0 (21.4) and the EBIT margin was 8.7% (8.7). The
increase in EBITDA has been partly off-set by higher depreciation costs,
reflecting the increase in investments, hence an unchanged EBIT margin.
* Profit after tax amounted to MEUR 15.4 (14.1).
* Basic and diluted earnings per share were EUR 0.09 (0.09).
* 2,466 (2,194) new rooms were contracted, 1,202 (795) new rooms opened and
285 (415) rooms left the system.
Half Year 2015
* L/L RevPAR was up by 3.5%.
* Revenue increased by 4.7% to MEUR 480.2 (458.5). On a L/L basis Revenue
increased by 2.7%.
* EBITDA amounted to MEUR 32.8 (30.1) and the EBITDA margin increased to 6.8%
(6.6).
* EBIT amounted to MEUR 10.6 (12.9) and the EBIT margin decreased to 2.2%
(2.8).
* Profit after tax amounted to MEUR 2.0 (3.8).
* Basic and diluted earnings per share were EUR 0.01 (0.03).
* Cash flow from operating activities amounted to MEUR 22.6 (0.8).
* 4,771 (3,200) new rooms were contracted, 1,429 (2,009) new rooms opened and
1,152 (833) rooms left the system.
MEUR Q2 2015 Q2 2014 H1 2015 H1 2014
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Revenue 263.8 247.1 480.2 458.5
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EBITDA 33.6 30.8 32.8 30.1
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EBIT 23.0 21.4 10.6 12.9
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Profit for the period 15.4 14.1 2.0 3.8
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EBITDA margin, % 12.7% 12.5% 6.8% 6.6%
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EBIT margin, % 8.7% 8.7% 2.2% 2.8%
------------------------------------------------------
Comments from the CEO
Solid RevPAR development and a good quarter for signings
"RevPAR recovery continued during the second quarter of 2015 and culminated in a
strong month of June, driven by Eastern European countries outside Russia and by
mature Western European markets. However, weak RevPAR development in some of the
countries in the Middle East and the difficult business climate in Norway still
impacted the results.
We made strong progress in pursuit of our growth strategy: achievements included
the 25 years contract extension for one of the Group's most profitable leases in
Norway, and the signing of a total of 15 new projects with almost 2,500 rooms
under management and franchise agreements. Most of these hotels are situated in
emerging markets and focus countries and scheduled to open within the next 12
months.
Q2 signings featured the first Radisson Red in EMEA: the Radisson Red V&A
Waterfront Cape Town - located at one of Africa's premier sites and opening in
late 2016 - marked the roll-out start of our new lifestyle select brand. We see
strong interest in the market, and will drive the development of Radisson Red
through flexible business models together with experienced partners.
We also continued to make progress on our profit improvement initiatives as
evidenced by the strong performance in operating cash flow. At the same time, we
further drove our investment programme supported by the 2014 rights issue, and
have launched an accelerated Capex deployment that will result in almost 8,000
refurbished rooms in the Nordics and Rest of Western Europe by the end of 2017."
Wolfgang M. Neumann, President & CEO
Presentation of the Q2 Results
On July 23, 2015 at 10:00 (Central European Time) a combined telephone
conference and live webcast (in English) concerning the report will be presented
by the President & CEO, Wolfgang M. Neumann and Deputy President & CFO, Knut
Kleiven. To follow the webcast, please visit www.investor.rezidor.com.
To access the telephone conference, please dial:
Belgium, Local +32 (0)2 400 6864
Belgium, Free 0800 58032
Sweden, Local: +46(0)8 5065 3938
Sweden, Free: 0200 883 440
UK, Local: +44(0)20 3427 1918
UK, Free: 0800 279 5004
USA, Local: +1 646 254 3366
USA, Free: 1877 280 2342
France, Local: +33(0)1 76 77 22 29
France, Free: 0805 631 580
Confirmation code: 6030506. For a replay of the conference call please visit
www.investor.rezidor.com.
Financial Calendar
Q3 2015 results: October 22, 2015
Q4 2015 results: February 16, 2016
Q1 2016 results: April 21, 2016
For Further Information, Contact
Knut Kleiven
Deputy President & CFO
Tel: +32 2 702 9244
Fax: +32 2 702 9330
knut.kleiven(at)carlsonrezidor.com
Andrea Brandenberger
Senior Director
Business Development Strategy & Investor Relations
Tel: +32 2 702 9237
andrea.brandenberger(at)carlsonrezidor.com
The Rezidor Hotel Group Corporate Office
Avenue du Bourget 44
B-1130 Brussels
Belgium
Tel: +32 2 702 9200
Fax: +32 2 702 9300
Website: www.rezidor.com
About the Rezidor Hotel Group
The Rezidor Hotel Group is focused on hotel management and operates the core
brands Radisson Blu and Park Inn by Radisson. In February 2014, Rezidor
announced together with Carlson the launch of two additional brands; Radisson
Red, an upscale "lifestyle select" brand inspired by the millennial lifestyle,
and Quorvus Collection, a new generation of distinctive five star hotels.
The portfolio consists of 446 hotels with over 98,000 rooms in operation and
under development in 77 countries across Europe, the Middle East and Africa.
Rezidor's strategy is to grow with management and franchise contracts and only
selectively with leases. The strategy is also to further expand in the emerging
markets.
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 2015:
http://hugin.info/142138/R/1940625/700876.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1940625]
Unternehmensinformation / Kurzprofil:
Datum: 23.07.2015 - 07:31 Uhr
Sprache: Deutsch
News-ID 408618
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contact information:
Town:
Brussels
Kategorie:
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