Interim report January-March 2011
(Thomson Reuters ONE) -
First quarter, 2011
* RevPAR Like-for-like increased by 6.5% to EUR 55.6 (52.2). Like-for-like
Occupancy was 55.7% (53.8).
* Revenue increased by 16.3% or MEUR 27.0 to MEUR 192.7 (165.7). On a Like-
for-like basis Revenue increased by 5.6%.
* EBITDA was MEUR -8.5 (-11.5), and EBITDA margin was -4.4%
(-6.9%).
* Loss after tax amounted to MEUR -17.4 (-17.7).
* Basic and diluted Earnings Per Share amounted to EUR -0.12
(-0.12).
* Cash flow from operating activities amounted to MEUR -21.7
(-17.5). Total available cash at the end of the quarter, including
unutilised credit facilities, amounted to MEUR 100.5 (MEUR 73.0 in March
10).
Other developments
* Circa 1,400 new rooms were added into operations in the first quarter.
* Circa 2,200 rooms were signed in the first quarter all of which were managed
or franchised.
First quarter Rolling 12-months
MEUR Jan-Mar 11 Jan-Mar 10 Apr 10-Mar 11 Apr 09-Mar 10
-----------------------------------------------------------------------
Revenue 192.7 165.7 812.7 690.3
EBITDAR 52.7 45.1 261.6 217.6
EBITDA -8.5 -11.5 34.3 8.4
EBIT -16.5 -19.0 6.0 -22.7
Profit/loss after Tax -17.4 -17.7 -2.4 -26.6
EBITDAR Margin % 27.3% 27.2% 32.1% 31.5%
EBITDA Margin % -4.4% -6.9% 4.2% 1.2%
EBIT Margin % -8.6% -11.5% 0.7% -3.3%
Comment from the CEO
- A continued strong recovery in our key markets
"We are pleased to report continued strong RevPAR growth in the first quarter.
Eastern Europe was the best performing market followed by the Nordics, where the
improvement was partly supported by the fact that Easter falls in the second
quarter this year. Rest of Western Europe also reported substantial growth and
we see a continued solid development in Germany. In the Middle East and North
Africa, the recent political unrest, as expected, had a negative impact on
RevPAR development.
The first quarter is seasonally the weakest of the year. We recorded a strong
revenue growth and an improved EBITDA over last year. The margin development was
however dampened by the opening up of a significant number of leased hotels
since the first quarter of 2010.
The beginning of 2011 has been very strong in terms of new hotel openings and
signings. We opened 1,400 rooms in key markets like Stockholm, Brussels and
Kuwait and added more than 2,200 rooms to our pipeline. All the new signings
were under management or franchise contracts, supporting our asset-light
strategy."
Kurt Ritter, President & CEO
Financial calendar
Interim Report January-June 2011: 21 July 2011
Interim Report January-September 2011: 28 October 2011
This quarterly report comprises information which Rezidor Hotel Group AB (publ)
is required to disclose under the Securities Markets Act and/or the Financial
Instruments Trading Act. It was released for publication at 08:30 Central
European Time on 13(th) April 2011.
Stockholm 13(th) April, 2011
Kurt Ritter
President & CEO
Rezidor Hotel Group AB
Webcast
13(th) April 2011 at 15:30 (Central European Time).
Kurt Ritter, President & CEO, Knut Kleiven, Deputy President & CFO and Puneet
Chhatwal, Chief Development Officer, will present the report and answer
questions.
To participate in the teleconference, please dial:
Sweden: +46 (0)8 5066 2770
Sweden toll-free: 0200 897 065
UK: +44 (0)20 7784 1036
UK toll-free: 0800 279 9640
US: +1 718 354 1152
US toll-free: 1866 850 2201
To follow the webcast, please visit www.rezidor.com
A replay of the conference call will be available one month following the call
by dialling +46 (0)8 5051 3897 (Sweden),
+44 (0)20 7111 1244 (UK) and +1 347 366 9565 (US), access code 6096478#.
In Q1 2011 Rezidor opened six new hotels
For further information, please contact:
Knut Kleiven, Deputy President and Chief Financial Officer
Avenue du Bourget 44
B-1130 Brussels, Belgium
Tel: + 32 2 702 9200
www.rezidor.com
The full report with tables can be downloaded from the following link:
Rezidors Q1 2011 Interim Results:
http://hugin.info/142138/R/1505773/440650.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters 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 Thomson Reuters ONE
[HUG#1505773]
Unternehmensinformation / Kurzprofil:
Datum: 13.04.2011 - 08:32 Uhr
Sprache: Deutsch
News-ID 53456
Anzahl Zeichen: 6383
contact information:
Town:
Brussels
Kategorie:
Business News
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"Interim report January-March 2011"
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Rezidor Hotel Group (Nachricht senden)
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