Return to Operational Profitability Despite a Continued Fall in
Revenues
(Thomson Reuters ONE) - Corporate news announcement processed and transmitted by Hugin AS.The issuer is solely responsible for the content of this announcement. ------------------------------------------------------------------------------------ Design Hotels AG Announces Results for the Third Quarter of 2009Berlin 02. November 2009 - Design Hotels AG (Regulated Market,Munich: LBA; ISIN: DE0005141006), an integrated provider of marketingand positioning services for individually managed hotels and smallhotel groups in the New Luxury Segment, today reports its results forthe third quarter of 2009 under IFRS.Financial Highlights for the Design Hotels Group:Revenues for the first nine months of 2009 decreased by approximately10% to ?5.69 million (last year: ?6.29 million). Booking commissionswere hit hardest by the economic crisis, with a 23% decline to ?2.56million. The contribution to revenues from commissions fell to 45%(53%). Revenues from membership fees, on the other hand, showed an 8%increase to ?1.69 million compared to last year. MarketingProducts/Consulting remained at last year's level with ?1.44 million.Revenues in Marketing Products/Consulting benefited from a majorproject, which was realised in Q1 of 2009.The Gross margin for the first nine months remained at last year'slevel with 76% (76%).The EBITDA on the 30th September 2009 amounted to ?118,000, whichrepresents a fall by 85% compared to the ?0.82 million operationalprofit for the same period last year. However, after operationallosses of ?51,000 and ?81,000 for Q1 and Q2, respectively, theCompany achieved an operational profit in Q3 of ?249,000.The EBIT on the 30th September 2009 showed a loss of approximately?17,000, as compared to a ?683,000 profit for the same period lastyear.The Net Loss came in at ?3,000, compared to a ?693,000 net profit forthe same period last year. Earnings per share came in at ?0.00(?0.08).As of the 30th September 2009, the Company had cash and cashequivalents to the amount of ?2.49 million, as compared to ?2.78million on 31st December 2008. Shareholders' equity stood at ?5.75million at the end of the first nine months of the current financialyear. The Company's balance sheet does not carry any bank debt ornoteworthy goodwill.Additional Notes:CEO Claus Sendlinger, commented: "Conditions within the tourismsector have not fundamentally changed during the third quarter ofthis year. The situation for providers continues to be characterizedby low capacity utilization, which in turn creates pricing pressure.Bookings with member hotels and the resulting commission revenues forour Company, however, have shown a marginal improvement since themiddle of this year. It would be too early to speak of a trendreversal, but we believe that revenue development has bottomed out.With regards to results, we have already made a successfulturnaround. Here we re starting to see the effects of the short termmeasures we have taken. After nine months we can therefore reconfirmour outlook for the year, where, despite a fall in revenues in thelower two digit region, we expect to achieve a positive operationalresult.Cost saving measures are taken in all business activities except forpersonnel. We deliberately expanded our team from 56 to 63 staffmembers over the year. Through structural adjustments we could,however, limit the increase in staff expenses to 4%, which is clearlylower than the increase in staffing.This investment in staff was made to prepare for the expected growth.Based on our healthy financial situation, we have the opportunity tosolidify our market position, and we want to be in a position wherewe can benefit from this opportunity. This means further developmentand enhancement of the service portfolio and therefore the addedvalue we offer our clients. Related to this is the improvement of thequality of our member portfolio. Our motto remains to increase totalrevenues primarily through an increase in the average revenue permember and secondly through expanding our membership base."Further indicators as of the 30th September 2009:At the end of the third quarter, the member portfolio consisted of187 hotels (last year 173) with 13,853 (12,711) rooms. With 279applications, demand for membership remains high. Since the beginningof the year, 24 hotels were accepted for membership.In comparison to the same period last year, the number of brokeredbookings for the first nine months fell by around 9%. The value ofthe brokered bookings fell by 19% to approximately ?42 (52) million.An overview of the P&L for the first nine months of 2009 is providedin the tables via the PDF download at the bottom of this message.Contact:Design Hotels AGClaus Sendlinger (CEO)Stralauer Allee 2c10245 BerlinP +49 (0)30 88 484 00 03F +49 (0)30 25 933 01 7ir(at)designhotels.comSchwarz Financial CommunicationFrank SchwarzP +49 (0)611 17453 9811F +49 (0)611 17453 9829schwarz(at)schwarzfinancial.comhttp://hugin.info/136390/R/1351620/326745.pdf --- End of Message ---Design Hotels AGStralauer Allee 2c Berlin GermanyWKN: 514100; ISIN: DE0005141006; Listed: Open Market (Freiverkehr) in Frankfurter Wertpapierbörse, Freiverkehr in Börse Berlin, Freiverkehr in Hanseatische Wertpapierbörse zu Hamburg, Regulierter Markt in Bayerische Börse München;
Datum: 02.11.2009 - 07:30 Uhr
Sprache: Deutsch
News-ID 7726
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