Second Quarter 2014
Half year 2014
|MEUR||Q2 2014||Q2 2013||H1 2014||H1 2013|
|Profit for the period||14.1||17.4||3.8||6.2|
|EBITDAR margin, %||37.6%||39.0%||33.7%||34.1%|
|EBITDA margin, %||12.5%||14.0%||6.6%||7.0%|
|EBIT margin, %||8.7%||10.5%||2.8%||3.6%|
Comments from the CEO
Growth in underlying RevPAR supported by gain in market share; continued focus on delivering on Route 2015 targets
"We see a rate driven, modest recovery in several EMEA markets despite overall macroeconomic uncertainties. During the quarter, Western Europe and the Nordics posted a good RevPAR performance, with the exception of Norway which showed a more pronounced impact of the Easter timing. Eastern Europe, the Middle East and Africa continued to show a positive trend. The exceptions included Russia and Ukraine, which suffered from the regional political turmoil.
Our Route 2015 turnaround plan has continued to deliver positive results. The quarter posted good underlying results, albeit those were somewhat diluted by the strengthening of the Euro, the Easter timing and some specific events, like the closure of one leased hotel for renovation and the exit of the casino operations in Copenhagen. We continued to gain market share during this period and we completed a successful rights issue which generated MEUR 60 in additional cash. Those funds will be strategically deployed to execute our long-term plans and increase shareholder value.
During the quarter, we added 2,200 rooms to the pipeline and opened 800 rooms. All the new rooms were under fee based contracts, which support our asset-light strategy.
The visibility for the next quarter and the rest of the year is still low. We maintain cautious optimism, and remain strongly focussed on revenue generation, tight cost control, asset management and profitable growth."
Wolfgang M. Neumann, President & CEO
Presentation of the Q2 Results
On July 23, 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 5065 3937|
|Sweden, Free:||0200 883 440|
|USA, Local:||+1212 444 0895|
|USA, Free:||1877 280 1254|
|UK, Local:||+44(0)20 3427 1913|
|UK, Free:||0800 279 4992|
|Belgium, Local:||+32(0)2 402 3092|
Confirmation code: 3116852
For a replay of the conference call please visit www.investor.rezidor.com.
Q3 2014 results: October 24, 2014
Q4 2014 results: February 17, 2015
Q1 2015 results: April 24, 2015
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 July 23, 2014.
For Further Information, Contact
Deputy President & CFO
Tel: +32 2 702 9244
Fax: +32 2 702 9330
The Rezidor Hotel Group Corporate Office
Avenue du Bourget 44
Tel: +32 2 702 9200
Fax: +32 2 702 9300
About the Rezidor Hotel Group
The Rezidor Hotel Group currently features a portfolio of 433 hotels with ca 96,000 rooms in operation and under development in 69 countries across Europe, the Middle East and Africa. Rezidor operates the core brands Radisson Blu and Park Inn by Radisson.
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: