Azur Selection S.A. Reports Strong Half-Year Growth for 2024

Azur Selection S.A. Half-Year Performance Highlights

Regulatory news has emerged from Azur Selection S.A., a prominent Greek hotel company, announcing its exceptional half-year results for 2024. The company, which is recognized for its excellence in the hospitality industry, has been making headlines for its impressive financial performance.

Revenue Growth and Performance Metrics

In the first half of 2024, Azur Selection experienced a remarkable revenue growth of 22%, bringing their total to €2,161 K, compared to €1,774 K during the same timeframe the previous year. This performance continues to reflect a positive trend for the hotel company, showcasing its robust strategies amid the ever-evolving hospitality landscape.

Significant EBITDA Gains

The company reported a positive EBITDA of €528 K, which represents more than doubled figures from the first half of 2023. This substantial increase can be attributed to efficient operations and strict management of expenditures. Notably, total income saw an increase of 26.5%, while total costs and expenses (excluding depreciation and finance charges) grew by only 13.3%.

Net Results and Recovery from Previous Losses

While the net results are still in the negative at -€453 K, this figure marks a significant improvement compared to the previous year's losses of €3,805 K. The earlier figures were heavily influenced by a capital loss associated with the exit of their subsidiary, AS Resorts. This positive trend is a promising indicator of recovery for the company.

Balance Sheet Overview

Examining the balance sheet as of June 30, 2024, another vital statistic reveals that non-current assets comprised 84% of total assets, a slight decrease from 85% as of December 31, 2023. This ratio acts as crucial guidance for understanding the long-term investment structure of the company.

Company Overview

Recognized as a leader within Greece's hospitality sector, Azur Selection specializes in the ownership, operation, development, and management of hotel and entertainment venues. With a reputation built on excellence, the company has established a diverse portfolio of successful hotels across Greece. Since listing on the Euronext Access + market in Paris, Azur Selection has solidified its dedication to providing paramount service in the hospitality industry.

Investor Information

For investors seeking further details regarding the 2024 half-year financial report, the specifics are available in the investor section of the company’s official website. This report provides a comprehensive overview of company performance, future projections, and strategic insights.

Frequently Asked Questions

What are the significant highlights from Azur Selection's half-year results?

The company reported a 22% revenue growth totaling €2,161 K and a positive EBITDA of €528 K, showcasing significant improvement from the previous year.

How did the net results compare to last year?

Net results improved to -€453 K compared to €3,805 K losses from prior periods, indicating a significant recovery trajectory.

What contributed to the EBITDA growth?

Efficient operations and stringent cost management played key roles in the positive EBITDA performance.

What is the company's focus within the hospitality industry?

Azur Selection specializes in hotel and entertainment facility development, owning a successful portfolio across Greece.

Where can I find more details about the financial report?

The 2024 half-year financial report is available in the investor section on the Azur Selection website for those seeking in-depth information.

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