AndhraNews.net
Home » Business News » 2014 » February » February 7, 2014

Rezidor Hotel Group: YEAR-END REPORT January-December 2013


February 7, 2014 - London

Fourth Quarter 2013

  • Like-for like ("L/L") RevPAR was up by 5.4%.
  • Revenue decreased by 1.9% to MEUR 236.0 (240.6).
    On a L/L basis Revenue increased by 4.0%.
  • EBITDA amounted to MEUR 25.8 (15.4), and EBITDA margin increased to 10.9% (6.4).
  • Profit after tax amounted to MEUR 7.3 (-13.5).
  • Basic and diluted Earnings per Share were EUR 0.05 (-0.09).
  • Ca 2,150 new rooms were contracted and ca 950 new rooms opened.

Twelve Month Ended December 2013

  • L/L RevPAR was up by 5.8%.
  • Revenue decreased marginally to MEUR 919.5 (923.7).
    On a L/L basis Revenue increased by 3.2%.
  • EBITDA amounted to MEUR 80.7 (50.7), and the EBITDA margin increased to 8.8% (5.5).
  • Profit after tax amounted to MEUR 23.2 (-17.0).
  • Basic and diluted Earnings per Share were EUR 0.16 (-0.12).
  • Cash flow from operating activities amounted to MEUR 54.6 (16.5).
  • Ca 6,400 new rooms were contracted, ca 3,300 new rooms opened and ca 2,000 rooms left the system.
  • The Board of Directors intends to propose:
    - A rights issue of approximately MEUR 60
    - No dividend to paid out for the financial year 2013
MEUR Q4 2013 Q4 2012 FY 2013 FY 2012
Revenue 236.0 240.6 919.5 923.7
EBITDAR 79.6 78.3 317.0 300.3
EBITDA 25.8 15.4 80.7 50.7
EBIT 12.9 -8.9 44.2 -1.1
Profit/loss for the period 7.3 -13.5 23.2 -17.0
EBITDAR margin, % 33.7% 32.6% 34.5% 32.5%
EBITDA margin, % 10.9% 6.4% 8.8% 5.5%
EBIT margin, % 5.5% -3.7% 4.8% -0.1%

Comments from the CEO

Our Route 2015 turnaround plan generated significant margin improvements in 2013. The Board of Directors intends to propose a rights issue of approximately MEUR 60 to accelerate strategy and profitability initiatives.

"I am pleased to report a like-for-like RevPAR increase of 5.4% for the fourth quarter and 5.8% for the full year 2013. The increase in RevPAR in the fourth quarter was primarily driven by improvements in average room rates, coupled with continued occupancy growth. Revenue was slightly down compared to last year primarily due to the strengthening of the Euro and the exit of nine leased hotels at the end of 2012.

We gained further market share and generated significant margin improvements in line with our Route 2015 targets. The EBITDA margin grew by 4.5 percentage points to 10.9% in the fourth quarter and by 3.3 percentage points to 8.8% in 2013. In total it is estimated that Route 2015 yielded 2.6 percentage points improvement in EBITDA margin in 2013.

Asset Management has proven to be a key driver of Route 2015 and we concluded a year of successful activities by signing four agreements to further improve the profitability of the leased portfolio. We maintain the momentum, having signed another asset management deal in January with an annual positive effect on EBITDA of ca MEUR 1.2 as from 2014.

To accelerate the execution of key strategic initiatives, the Board of Directors intends to propose a rights issue of approximately MEUR 60. The capital raised from the rights issue will allow Rezidor to capture additional opportunities within Asset Management, continue to invest in the leased hotels at an accelerated rate and further drive focused growth in emerging markets.

During the quarter, we opened ca 950 rooms and added ca 2,150 rooms to the pipeline. All new rooms signed and opened were under fee based contracts, supporting our asset-light strategy."

Wolfgang M. Neumann, President & CEO

Presentation of the Q4 Results

On February 7, 2014 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, Wolfgang M. Neumann and Deputy President & CFO, Knut Kleiven.

To follow the webcast, please visit www.investor.rezidor.com

To access the telephone conference, please dial:

Sweden: +46(0)8 5051 3793
Sweden toll-free:     0200 883 440
UK: +44(0)20 3427 1907
UK toll-free: 0800 279 5004
France: +33(0)1 76 77 22 21
France toll-free: 0805 631 579
US: +1212 444 0896
US toll-free: 1877 280 2342

Confirmation code: 1763696

For a replay of the conference call please visit www.investor.rezidor.com.

Financial Calendar

Q1 2014 results: April 24, 2014
AGM 2014: April 24, 2014
Q2 2014 results: July 23 2014

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 07:30 Central European Time on February 7, 2014.

For Further Information, Contact

Knut Kleiven
Deputy President & CFO
Tel: +32 2 702 9244
Fax: +32 2 702 9330
knut.kleiven@carlsonrezidor.com

Ebba Vassallo
Director, Investor Relations
+32 2 702 9286
+32 2 702 9300
ebba.vassallo@carlsonrezidor.com

About the Rezidor Hotel Group

The Rezidor Hotel Group is one of the most dynamic and fastest growing hotel companies in the world. The group currently features a portfolio of 429 hotels with ca 95,000 rooms in operation and under development in almost 70 countries across Europe, the Middle East and Africa. Rezidor operates the core brands Radisson Blu and Park Inn by Radisson, as well as Hotel Missoni.

Rezidor is a member of the Carlson Rezidor Hotel Group.

For more information, visit www.rezidor.com

The full report with tables can be downloaded from the following link:

Rezidors Year-end Report January-December 2013



This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX 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

HUG#1760011

GlobeNewswire

Comment on this story

Share