Rezidor Hotel Group: YEAR-END REPORT January-December 2014

Fourth Quarter 2014 * Like-for-like ("L/L") RevPAR was up by 0.9%. * Revenue increased by 0.8% to MEUR 238.0 (236.0). On a L/L basis Revenue decreased by 1.7%. * EBITDA amounted to MEUR 14.8 (25.8), and the EBITDA margin decreased to 6.2% (10.9). * EBIT amounted to MEUR 0.5 (12.9) and the EBIT margin decreased to 0.2% (5.5). * Profit after tax amounted to MEUR -0.9 (7.3). * Basic and diluted Earnings per Share were EUR -0.01 (0.05)...

New York, 17/02/2015 (informazione.news - comunicati stampa - turismo)

 

 

 

One-off costs and weaker Norwegian market impact 2014 results

"One-off costs related to a hotel closed for renovation and the challenging business climate in some of our key markets, especially Norway, had a negative impact on our financial performance in the fourth quarter.

For the quarter like-for-like RevPAR grew by 0.9 percent.

Our Route 2015 target of improving the EBITDA margin by 6 to 8 percentage points over the actual results of 2011 remains unchanged, but the achievement will be delayed due to the current business environment.

We have made solid progress over the past three years - addressing legacy issues and driving profitability by reducing our cost base, pursuing revenue generation and successfully taking asset management actions in loss-making hotels.

Furthermore, we have in 2014 accelerated theupgrading of our leased hotel portfolio with total investments of ca MEUR 54. These investments will secure the competitive positioning in selected markets.

During the quarter, we have signed ten new hotel agreements representing ca 2,000 rooms and opened five hotels with ca 900 rooms."

Wolfgang M. Neumann, President & CEO

On February 17, 2015 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:

 

Confirmation code: 9825837. For a replay of the conference call please visit www.investor.rezidor.com .

Q1 2015 results: April 24, 2015
AGM 2015: April 24, 2015
Q2 2015 results: July 23, 2015
Q3 2015 results: October 22, 2015

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

Andrea Brandenberger
Senior Director
Business Development Strategy & Investor Relations
Tel: +32 2 702 9237
andrea.brandenberger@carlsonrezidor.com

The Rezidor Hotel Group Corporate Office
Avenue du Bourget 44
B-1130 Brussels
Belgium
Tel: +32 2 702 9200
Fax: +32 2 702 9300

Website: www.rezidor.com

The Rezidor Hotel Group currently features a portfolio of 432 hotels with over 95,000 rooms in operation and under development in 73 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 .

This year-end 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 17, 2015.

Stockholm February 17, 2015

Wolfgang M. Neumann
President & CEO
Rezidor Hotel Group AB

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

Copyright GlobeNewswire

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