Rezidor Hotel Group: INTERIM REPORT January-September 2017
(Thomson Reuters ONE) -
Third Quarter 2017
* On a like-for-like basis ("L/L") Revenue increased by 3.6%, supported by L/L
RevPAR growth for leased and managed hotels of 4.7%. The RevPAR growth is
due to increase in both occupancy and average room rate.
* Revenue decreased by MEUR 2.2 to MEUR 249.1. The decrease is mainly due to
the exit of four leased hotels last year, the temporary closure of one
leased hotel for renovation and the strengthening of the Euro, partly offset
by positive RevPAR development and re-opening of one leased hotel after
renovation.
* EBITDA increased by MEUR 5.4 to MEUR 34.4 and the EBITDA margin increased by
2.3 pp to 13.8%. EBITDA is positively impacted by lower central costs of
MEUR 4.5, which is mainly due to costs of one-off nature last year.
* EBIT increased by MEUR 4.4 to MEUR 20.8 and the EBIT margin increased by
1.9 pp to 8.4%. The increase in EBITDA is partly offset by higher net costs
for write-downs of fixed assets of MEUR 0.7.
* Profit for the period decreased by MEUR 0.5 to MEUR 14.4. The profit for the
period is negatively impacted by higher tax costs of MEUR 3.9, since tax
last year was positively impacted by one-off items.
* Basic and diluted earnings per share were EUR 0.08 (0.09).
* 1,880 (1,879) rooms were contracted, 1,573 (292) rooms opened and 649 (515)
rooms left the system.
Nine months ended September 2017
* On a L/L basis Revenue increased by 4.6%, supported by L/L RevPAR growth for
leased and managed hotels of 4.9%.
* Revenue increased by MEUR 7.6 to MEUR 725.7.
* EBITDA increased by MEUR 9.1 to MEUR 65.3 and the EBITDA margin increased by
1.2 pp to 9.0%.
* EBIT increased by MEUR 5.6 to MEUR 18.9 and the EBIT margin increased by
0.7 pp to 2.6%.
* Profit for the period increased by MEUR 0.9 to MEUR 10.4.
* Basic and diluted earnings per share were EUR 0.06 (0.06) and EUR 0.06
(0.05) respectively.
* Cash flow from operating activities amounted to MEUR 55.0 (38.5).
* 6,724 (6,411) rooms were contracted, 3,895 (2,678) rooms opened and 2,848
(1,247) rooms left the system.
MEUR Q3 2017 Q3 2016 Change % Jan-Sep Jan-Sep Change %
2017 2016
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Revenue 249.1 251.3 -2.2 -0.8 % 725.7 718.1 7.6 1.1 %
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EBITDA 34.4 29.0 5.4 18.6 % 65.3 56.2 9.1 16.2 %
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EBIT 20.8 16.4 4.4 26.8 % 18.9 13.3 5.6 42.1 %
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Profit for the 14.4 14.9 -0.5 -3.3 % 10.4 9.5 0.9 9.5 %
period
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EBITDA margin 13.8% 11.5% 2.3 pp 9.0% 7.8% 1.2 pp
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EBIT margin 8.4% 6.5% 1.9 pp 2.6% 1.9% 0.7 pp
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Comments from the CEO
Growing operating margins and finalization of our 5-year plan
Rezidor reports strong third quarter results, growing like-for-like revenue by
MEUR 9.1 (3.6%), supported by strong RevPAR development in Norway, Rest of
Western Europe and Eastern Europe. Operating margins improved versus last year
and the EBITDA margin is one of the higest in our recent history, supported by
our focused asset management activities, higher fee revenue generation and lower
central costs.
During the quarter, we have made significant progress on our 5-year plan - a
comprehensive and ambitious strategy which is aligned with our partner Carlson
and which will help us to reach a very promising future for our partners,
employees and shareholders. We will present the 5-year plan at the end of
October to the Board of Directors for approval, and aim to start the roll-out in
January 2018. The core components of the plan will be shared with the Investor
community at an Investor Day on January 17, 2018 at the Radisson Blu Hotel in
Frankfurt, Germany.
Federico González-Tejera, President & CEO
Presentation of the Q3 Results
On October 25, 2017 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, Federico González-Tejera 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 2 620 0138
Belgium, Free 0800 58033
Sweden, Local: +46 8 5033 6538
Sweden, Free: 0200 883 440
UK, Local: +44 20 3427 1907
UK, Free: 0800 279 5004
USA, Local: +1 646 254 3362
USA, Free: 1877 280 1254
France, Local: +33 1 76 77 22 20
France, Free: 0805 631 580
Norway, Local: +47 2316 2771
Norway, Free: 800 56053
Confirmation code: 7120346. For a replay of the conference call please visit
www.investor.rezidor.com.
Financial Calendar
Q4 2017 results: February 21, 2018
Q1 2018 results: April 26, 2018
AGM 2018: April 26, 2018
For Further Information, Contact
Knut Kleiven
Deputy President & CFO
Tel: +32 2 702 9244
knut.kleiven(at)carlsonrezidor.com
Andrea Brandenberger
Vice President 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, as well as Radisson RED, an
upscale "lifestyle select" brand inspired by the millennial lifestyle, and
Quorvus Collection, a new generation of distinctive five star hotels. Rezidor
also holds 49% in prizeotel, a young hotel chain in the economy segment.
The portfolio consists of 479 hotels with over 106,000 rooms in operation and
under development in 79 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.
This interim 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 07:30 Central
European Time on October 25, 2017.
Stockholm, October 25, 2017
The Board of Directors
Rezidor Hotel Group AB (publ)
The full report with tables can be downloaded from the following link:
Rezidor Q3 Interim Report January-September 2017:
http://hugin.info/142138/R/2144294/821767.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Rezidor Hotel Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 25.10.2017 - 07:30 Uhr
Sprache: Deutsch
News-ID 565100
Anzahl Zeichen: 8709
contact information:
Town:
Brussels
Kategorie:
Business News
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