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Radisson Hospitality AB's Q2 2019 report

January–June 2019

Radisson Hospitality AB's Q2 2019 report

January–June 2019

Category: Worldwide - Industry economy - Figures / Studies
This is a press release selected by our editorial committee and published online for free on 2019-07-29


Second Quarter 2019

  • Revenue increased by MEUR 8.2 (3.2%) to MEUR 261.9. The increase is mainly due to the good development in the like-for-like lease portfolio (MEUR 3.8) and new openings (MEUR 4.8). On a like-for-like basis, including hotels under renovation (“LFL&R”), Revenue increased by MEUR 5.3 (2.1%).
  • Reported RevPAR for leased and managed hotels increased by 1.0% and RevPAR LFL&R decreased by 0.4%. The decrease is mainly due to ongoing renovations in a number of key hotels, as well as lack of special events in key destinations. Also, the timing of Easter has had a negative impact, most notable in the Nordics.
  • EBITDA increased by MEUR 14.4 (35.6%) to MEUR 54.8 and the EBITDA margin increased 5.0 pp to 20.9%. The increase is mainly due to the implementation of the new accounting standard IFRS 16 Leases (MEUR 9.3) and strong development in the fee business.
  • EBIT increased by MEUR 7.4 (27.3%) to MEUR 34.5, where of MEUR 3.2 is due to the implementation of IFRS 16 Leases. The EBIT margin was 13.2% (10.7).
  • Profit/loss for the period decreased by MEUR 2.3 (–11.2%) to MEUR 18.2.
  • Basic and diluted earnings per share were EUR 0.11 (0.12).
  • 2,857 (1,268) rooms were contracted, 926 (271) rooms opened and 272 (0) rooms left the system.

Half Year 2019

  • Revenue increased by MEUR 15.4 (3.3%) to MEUR 475.3. Revenue LFL&R increased by MEUR 12.7 (2.8%).
  • Reported RevPAR for leased and managed hotels increased by 1.7% and RevPAR LFL&R increased by0.8%.
  • EBITDA increased by MEUR 33.6 (72.3%) to MEUR 80.1 and the EBITDA margin increased 6.7 pp to 16.8%.
  • EBIT increased by MEUR 18.6 (83.4%) to MEUR 40.9 and the EBIT margin increased 3.8 pp to 8.6%.
  • Profit/loss for the period decreased by MEUR 0.7 (–4.5%) to MEUR 14.8.
  • Basic and diluted earnings per share were EUR 0.09 (0.09).
  • Cash flow from operating activities amounted to MEUR 41.4 (32.9).
  • 6,734 (3,306) rooms were contracted, 2,214 (1,966) rooms opened and 1,321 (473) rooms left the system.

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