Design Hotels AG Reports Results for the Full Year 2010
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Design Hotels AG /
Design Hotels AG Reports Results for the Full Year 2010
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* Revenues increased by 11% to ?9,36 million
* EBITDA grows by 32% to ?0,62 million
Berlin, March 14, 2011 - 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 full financial year 2010 under IFRS. Compared
to FY 2009, revenues increased by 11% and the EBITDA grew by 32%.
Financial Highlights for the Design Hotels Group:
Revenues for financial year 2010 increased by approximately 11% to ?9.36 (FY09:
8.46) million. Predominant cause for the strong growth was the fast recovery in
the travel and tourism sector following the economic crisis during 2009. The
positive developments in the sector led to an increase in the length of stay, as
well as higher occupancy rates and room rates. Revenues from booking
commissions came in at ?4.42 (3.45) million, a 26% increase over 2009. This
equals a contribution to total revenues of 47%, as compared to 42% for the
previous year. Revenues from Marketing Products/Consulting fell by 18% to ?2.22
(2.62) million, whereas annual membership fees increased by around 18% to ?2.69
(2.77) million. During the fourth quarter, total revenues fell by around 3% to
?2.69 (2.77) million. Whereas booking commissions and membership fees showed a
strong increase, revenues from Marketing Products/Consulting fell as expected.
The high revenues for Consulting in 2009 were due to the revenue recognition in
relation to a hotel development project.
The Gross Margin came in at 71%, slightly above that for 2009 (70%). Due to the
increase in contribution to the revenue mix of Booking Commissions, the Gross
Margin reached previous levels. For the fourth quarter, the Gross Margin was
65% (56%).
In order to increase the focus on customer services and to strengthen the
relationship with the member hotels, the Company continued to invest in
personnel. The average number of employees increased from 63 to 70. Due to
structural changes, however, the increase of staff expenses was
disproportional. Additionally, the increase in operating costs by 9% to ?5.99
(5.51) million was below the increase in revenues.
The EBITDA for 2010 came in at ?0.62 (0.47) million, an increase of 32% compared
to the same period last year. Due to an increase in costs of sales, the EBITDA
for the fourth quarter fell by 36% to ?226,000 (353,000). For the full year,
the EBITDA Margin was 7% (6%) and for the fourth quarter this was 8% (13%).
The EBIT for 2010 reached around ?362k (300k), a 21% increase. For the fourth
quarter, the EBIT fell by 56% to ?140k (317k).
The preliminary operational result for 2010 shows a net profit to the amount of
?0.124 million, as compared to a net loss of ?0.96 million for 2009.
As of December 31(st), the Company had liquid assets in the form of cash and
cash equivalents of ?3.31 million, as compared to ?2.53 million as of December
31(st) 2009. Shareholders' Equity increased from ?4.80 million to ?4.93
million.
The Company finished the year with 208 members (2009: 196), thereby crossing the
200 mark for the first time in its existence. The number of available rooms
increased to 15,965 (14,257) in 126 destinations and 42 countries. During the
financial year, 308 hotels applied for membership with Design Hotels (2009:
340).
Additional Notes:
CEO Claus Sendlinger stated: "Design Hotels AG not only benefited from the
general market developments in 2010 as it did during the downturn in 2009 but
even managed to outperform the market. We see this as a validation of our
business model in general but especially as proof of our ability to adapt
quickly to changing market conditions."
"With all this, we have not lost sight of our strategic direction. In 2010, we
focused on the improvement and growth of our membership portfolio, as well as
the expansion of the service portfolio for our member hotels. During 2010, we
accepted a further 42 hotels for membership, and for the first time in our
history reached the 200 mark. Since 2005, the average membership fee has
increased by 30%."
"The increase in the number of member hotels, as well as the increased sales
support to the individual members have had a positive effect on booking numbers
and consequently on the booking commissions. The value of bookings brokered
through Design Hotels channels increased by 35% to ?77 million in 2010."
"We will continue with our focus on quality in 2011. We will invest in IT
systems and provide our member hotels with the technology needed to optimize
online distribution."
"For financial year 2011, we expect a growth rate above market levels provided
that the economic climate remains stable."
The complete and audited financials for 2010 will be published in the second
half of April.
Contact:
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
10245 Berlin
P +49 (0)30 88 494 00 01
F +49 (0)30 259 330-17
ir(at)designhotels.com
Schwarz Financial Communication
Frank Schwarz
P +49 (0)611 17453 9811
F +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 200
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)
--- 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 incl. Tables as PDF:
http://hugin.info/136390/R/1496749/432532.pdf
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Source: Design Hotels AG via Thomson Reuters ONE
[HUG#1496749]
Unternehmensinformation / Kurzprofil:
Datum: 14.03.2011 - 15:34 Uhr
Sprache: Deutsch
News-ID 52419
Anzahl Zeichen: 8149
contact information:
Town:
Berlin
Kategorie:
Business News
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