Radisson Hospitality AB: Interim report January-June 2018

The second quarter of 2018

  • Revenues decreased by eur 0.4 MILLION (-0,2 %) to the 253,7 MILLION. The decrease is a result of the making of the eight hotels under the lease in the last year (-7,1 MILLION) and the strengthening of the Euro (-7,0 MILLION). Revenues for comparable hotels, including hotels under renovation («LFL&R»), increased by eur 13.7 MILLION (5,6%).

  • Reported RevPAR for the hotels under lease and management agreements increased by 1.6 % and RevPAR LFL&R by 8.2%.

  • EBITDA increased by 12.0 MILLION (42,3 %) to 40.4 MILLION, and the EBITDA-margin by 4,7 pp to 15.9 %. The improvement is mainly a result of the increase in revenues for comparable hotels and a reduction of operational costs for the hotels under the lease. In addition, the decreased net costs for the core activities with eur 2.3 MILLION and share of profit in associates and joint ventures increased by eur 1.2 MILLION.

  • EBIT increased by eur 20.8 MILLION (of 330.2 %) to eur 27.1 MILLION and the EBIT margin by 8.2 pp to 10.7 %. In addition to the EBITDA development impacted EBIT positively by 10.3 MILLION lower costs for impairment of fixed assets.

  • Net profit increased by 16.9 MILLION (469,4 %) to 20.5 MILLION.

  • Earnings per share before and after dilution, amounted to sek 0.12 (EUR 0,02).

  • 1 268 (1 666) the rooms were contracted, 271 (1 397) rooms were in operation and 0 (1 314) the room left the business.

The first half of 2018

  • Revenues decreased by 16.7 MILLION (-3,5%) to 459,9 MILLION. Revenue LFL&R increased by eur 12.6 MILLION (up 2.8 %).

  • Reported RevPAR for the hotels under lease and management agreements decreased by 0.8 % and RevPAR LFL&R increased by 5.2 %.

  • EBITDA increased by eur 15.6 MILLION (a 50.5 %) to 46,5 MILLION and the EBITDA margin by 3.6 pp to 10.1 %.

  • EBIT increased by eur 24.2 MILLION to 22.3 MILLION and the EBIT margin by 5.2 pp to 4.8 %.

  • Net profit increased by eur 19.5 MILLION for 15.5 MILLION.

  • Earnings per share before and after dilution, amounted to EUR 0.09 (-0,02).

  • Cash flow from operating activities amounted to sek 32.8 MILLION (24,3).

  • 3 306 (4 844) rooms were contracted, 1 966 (2 322) rooms were in operation and 473 (2 199) room left the business.

Comment by the ceo

Federico J. González, managing director & ceo : A very encouraging quarter: Highest EBITDA ever in the company’s history and the great progress in the initiatives in our five-year business plan

We report our highest EBITDA ever for a quarter and a first half of the year.

More specifically, as we achieved in the quarter, an EBITDA of 40,4 MILLION (an increase of 42,3 %) and an EBITDA margin of 15,9 % (an increase of 4.7 percentage points). Revenues for comparable hotels, including hotels under renovation increased by 5.6 % (eur 13.7 MILLION).

During the six months we have made significant progress in all business initiatives (operations, brands & experiences, revenue management & pricing and repositioning of the hotel). We have also successfully issued eur 250 MILLION p.k. the senior secured notes to finance our five-year business plan. Our business plan is strongly supported by the market.

Our guidance for the year in terms of revenue for the comparable hotels, including hotels under renovation, amounting to 4.0-4.5% and for the reported EBITDA margin to around 11 %.

Presentation of the results for Q2

26 July 2018 at 10.00 (CET) presents PRESIDENT & chief executive officer Federico J. González, executive vice PRESIDENT & CFO, Knut Kleiven report and answer questions during a combined conference call and webcast (in English). Visit https://www.radissonhospitalityab.com/investors to follow webcasten.

In order to participate in the teleconference, please call:

Belgium:

Belgium, the toll-free number:

Sweden:

Sweden, the toll-free number:

UK:

UK, toll-free number:

The united states:

The united states, the toll-free number:

France:

France, the toll-free number:

Norway:

Norway, the toll-free number:

+32 2 404 0659

0800 58228

+46 8 5664 2753

0200 880 389

+44 330 336 9127

0800 358 6377

+1 929 477 0448

888 254 3590

+33 1 76 77 22 88

0805 101 219

+47 2100 2610

800 51084

Confirmation code: 7991769. A recording of the presentation can be found on thehttps://www.radissonhospitalityab.com/investors.

Financial calendar

Quarterly report Q3 2018: October 25, 2018

Quarterly report Q4 2018: 22 February 2019

For further information, please contact:

Knut Kleiven, Deputy PRESIDENT & CFO

knut.kleiven@radissonhotels.com

Pablo Corrales Diaz, Director, Strategy & Investor Relations

pablo.corrales@radissonhotels.com

Avenue du Bourget 44, B-1130 Brussels, Belgium

Tel: +32 2 702 9200

 

Website: www.radissonhospitalityab.com

About Radisson Hospitality AB (publ)

Radisson Hospitality AB (publ) is a hotel company which operates the brands Radisson Blu and Park Inn by Radisson and Radisson RED, a premium brand within the «Lifestyle Select»segment inspired by the milleniumgenerationens lifestyle, and the Radisson collection, a collection of first-class exceptional lifestyle property with unique addresses. The Radisson also holds 49 % of the shares in the prizeotel, a young hotel chain in the economy segment.

The portfolio comprises 376 hotel with 82 812 rooms in operation and 110 hotels with 24 of 324 rooms under development in 78 countries in Europe, the Middle east and Africa.

Radisson’s strategy is to grow with an «asset right» approach and balance the management and franchise agreements with the selected lease. Management and franchise agreements have higher profit margins and more stable revenue stream and the lease allows for the presence of Radisson in the mature markets.

Radisson is part of the Radisson Hotel Group(TM). For further information, please visit www.radissonhospitalityab.com.

The report (including tables) can be downloaded from the provided link:

Radisson Hospitality AB Interim report January–June 2018

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: Radisson Hospitality AB via Globenewswire

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