First quarter, 2012
- Like-for-like ("L/L") RevPAR was up by 5.6%.
- Revenue increased by 7.4% to MEUR 206.9 (192.7). On a L/L basis Revenue increased by 5.6%.
- EBITDA amounted to MEUR -5.0 (-8.5) and the EBITDA margin improved to -2.4% (-4.4).
- Loss after tax amounted to MEUR -14.1 (-17.4).
- Basic and diluted Earnings Per Share was EUR -0.09 (-0.12).
- Ca 1,000 new rooms opened and ca 1,400 new rooms were contracted.
| MEUR | Q1 2012 | Q1 2011 |
| Revenue | 206.9 | 192.7 |
| EBITDAR | 58.4 | 52.7 |
| EBITDA | -5.0 | -8.5 |
| EBIT | -12.5 | -16.5 |
| Profit/loss after Tax | -14.1 | -17.4 |
| EBITDAR margin, % | 28.2% | 27.3% |
| EBITDA margin, % | -2.4% | -4.4% |
| EBIT margin, % | -6.0% | -8.6% |
Comments from the CEO
The EBITDA margin increased by 2 percentage points in the first quarter
- The revenue increase was the main driver of this improvement
"We are pleased to report a RevPAR growth of almost 6% in the first quarter of the year, an increase well above the market. Eastern Europe remained the best performing region followed by the Middle East and Africa, where we see a return to more normalised trading.
The positive RevPAR development combined with a stronger meetings and events business generated a 7% revenue growth over last year.
As outlined in our Route 2015 strategy, we remain focused on improving profitability, both in absolute terms and relative to the industry. We will on a regular basis communicate progress related to this strategy.
In the first quarter, we opened four hotels with close to 1,000 rooms, all located in the emerging markets of Eastern Europe and Africa. We contracted six new hotels, with over 1,400 rooms, all without financial committments."
Kurt Ritter, President & CEO
Presentation of the Q1 results
On 25 April, 2012 at 15:30 (Central European Time). Kurt Ritter, President & CEO, Knut Kleiven, Deputy President & CFO and Puneet Chhatwal, EVP & CDO, will present the report and answer questions.
To participate in the teleconference, please dial:
| Sweden: | +46 (0)8 5051 3793 |
| Sweden toll-free: | 0200 883 440 |
| UK: | +44 (0)20 3450 9987 |
| UK toll-free: | 0800 279 5004 |
| US: | +1 646 254 3365 |
| US toll-free: | 1877 280 2296 |
Confirmation code: 5750954
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 5750954#.
Financial calendar 2012
Annual General Meeting 2012: 25 April 2012
Q2-2012 results: 13 July 2012
Q3-2012 results: 26 October 2012
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 08h30 Central European Time on 25 April, 2012.
Stockholm 25 April, 2012
Kurt Ritter
President & CEO
Rezidor Hotel Group AB
For further information, contact
Knut Kleiven
Deputy President & CFO
+32 2 702 9244
+32 2 702 9330
knut.kleiven@rezidor.com
Ebba Ankarcrona
Director, Investor Relations
+32 2 702 9286
+32 2 702 9300
ebba.ankarcrona@rezidor.com
Avenue du Bourget 44
B-1130 Brussels
Belgium
Tel. +32 2 702 9200
Fax: +32 2 702 93 00
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 427 hotels with 93,000 rooms in operation and under development in more than 65 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, a lifestyle brand which is developed worldwide following a licence agreement with the iconic Italian fashion house Missoni. Radisson Blu and Park Inn by Radisson are operated in Europe, the Middle East and Africa under long-term Master Franchise Agreements with Carlson, a global, privately held hospitality and travel company. 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:
