Rezidor Hotel Group: INTERIM REPORT January-June 2016
(Thomson Reuters ONE) -
Second Quarter 2016
* Like-for-like ("L/L") RevPAR for leased and managed hotels was up by 4.0%.
The growth is mainly due to an increase in average room rate.
* Revenue decreased by 1.5% to MEUR 259.8 (263.8). The positive impact of the
like-for-like RevPAR development has been offset by the strengthening of the
Euro and the conversion of a hotel in Sweden from leased to franchise. On a
L/L basis revenue increased by 4.0%.
* EBITDA amounted to MEUR 36.4 (33.6) and the EBITDA margin increased to
14.0% (12.7). In addition to the positive impact of the increase in like-
for-like revenue, EBITDA is positively impacted by a good flow-through in
the leased portfolio and lower costs for bad debts in the fee business.
* EBIT amounted to MEUR 22.0 (23.0) and the EBIT margin decreased to 8.5%
(8.7). EBIT is negatively impacted by termination costs related to a loss
making leased hotel in Norway of MEUR 2.7 as well as higher costs for
depreciation and write-downs of MEUR 1.2.
* Profit for the period amounted to MEUR 16.2 (15.4).
* Basic and diluted earnings per share were EUR 0.10 (0.09) and EUR 0.09
(0.09) respectively.
* 2,565 (2,466) new rooms were contracted, 1,419 (1,202) new rooms opened and
429 (285) rooms left the system.
Half Year 2016
* L/L RevPAR for leased and managed hotels was up by 2.7%.
* Revenue decreased by 2.8% to MEUR 466.8 (480.2). On a L/L basis revenue
increased by 2.7%.
* EBITDA amounted to MEUR 27.2 (32.8) and the EBITDA margin decreased to 5.8%
(6.8).
* EBIT amounted to MEUR -3.0 (10.6) and the EBIT margin decreased to -0.6%
(2.2).
* Profit/loss for the period amounted to MEUR -5.4 (2.0).
* Basic and diluted earnings per share were EUR -0.03 (0.01).
* Cash flow from operating activities amounted to MEUR 16.8 (22.6).
* 4,532 (4,771) new rooms were contracted, 2,386 (1,429) new rooms opened and
732 (1,152) rooms left the system.
MEUR Q2 2016 Q2 2015 H1 2016 H1 2015
-----------------------------------------------------------
Revenue 259.8 263.8 466.8 480.2
-----------------------------------------------------------
EBITDA 36.4 33.6 27.2 32.8
-----------------------------------------------------------
EBIT 22.0 23.0 -3.0 10.6
-----------------------------------------------------------
Profit/loss for the period 16.2 15.4 -5.4 2.0
-----------------------------------------------------------
EBITDA margin, % 14.0 12.7 5.8 6.8
-----------------------------------------------------------
EBIT margin, % 8.5 8.7 -0.6 2.2
-----------------------------------------------------------
Comments from the CEO
Margin expansion continued despite challenging external environment
Despite the challenging external environment in some EMEA destinations, Rezidor
expanded the EBITDA margin by 1.3 pp to 14.0% versus last year and continued to
gain market share. Like-for-like RevPAR increased by 4.0% and good flow through
was achieved, especially in the leased portfolio.
The depressed oil price continued to affect key markets like Norway, as well as
markets such as Saudi Arabia, Russia and Nigeria. Belgium entered into a
downturn following the terror attacks in March and France continued to be weak,
as well as other important leisure destinations like Turkey. On the other hand,
Sweden, Denmark, Germany and Ireland posted good performances.
Due to these uncertain conditions, we remain focused on containment of overhead
costs and additional procurement savings while fully protecting the guest
experience at our hotels. In line with our commitment to high safety and
security standards, we further expanded our partnership with Safehotels Alliance
for independent third party certification of our properties. More than 110
Rezidor hotels across EMEA have now gained certification which will further
mitigate risk for both our guests and colleagues.
Despite the difficulties in many countries, we accelerated our pipeline delivery
reaching an operating portfolio of 80,000 rooms for the first time. Africa has
been particularly strong in this quarter with the opening of our first hotels in
Lomé, Togo, and Marrakech, Morocco. In Brussels, Belgium, we launched the
world's first Radisson RED - our new lifestyle select brand that is well
received in the market. New hotel signings also showed good momentum and were in
line with our asset-light strategy concentrating on fee-based business.
We continue to carefully monitor the environment and pursue our long-term
strategy of constantly optimising margins and growing our network.
Wolfgang M. Neumann, President & CEO
Presentation of the Q2 Results
On July 27, 2016 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 2 402 3092
Belgium, Free 0800 58033
Sweden, Local: +46 8 5065 3938
Sweden, Free: 0200 883 440
UK, Local: +44 20 3427 1906
UK, Free: 0800 279 4992
USA, Local: +1 646 254 3367
USA, Free: 1877 280 2296
France, Local: +33 1 76 77 22 26
France, Free: 0805 631 580
Norway, Local: +47 2 316 27 71
Norway, Free: 800 56053
Confirmation code: 4241988. For a replay of the conference call please visit
www.investor.rezidor.com.
Financial Calendar
Q3 2016 results: October 25, 2016
Q4 2016 results: February 10, 2017
Q1 2017 results: April 28, 2017
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 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 469 hotels with over 102,000 rooms in operation and
under development in 81 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 2016:
http://hugin.info/142138/R/2030847/755498.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#2030847]
Unternehmensinformation / Kurzprofil:
Datum: 27.07.2016 - 07:30 Uhr
Sprache: Deutsch
News-ID 485542
Anzahl Zeichen: 8992
contact information:
Town:
Brussels
Kategorie:
Business News
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