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

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News Desk 2018

Feb 17, 2015 at 1:45 AM

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). * 2,011 new rooms were contracted, 941 new rooms opened and 401 rooms left the system. Twelve months ended December 2014 * L/L RevPAR was up by 2.7%. * Revenue increased by 1.9% to MEUR 937.3 (919.5). On a L/L basis Revenue increased by 0.7%. * EBITDA amounted to MEUR 71.3 (80.7) and the EBITDA margin decreased to 7.6% (8.8). * EBIT amounted to MEUR 30.7 (44.2) and the EBIT margin decreased to 3.3% (4.8). * Profit after tax amounted to MEUR 14.2 (23.2). * Basic and diluted Earnings per Share were EUR 0.09 (0.16). * Cash flow from operating activities amounted to MEUR 41.2 (54.6). * 6,557 new rooms were contracted, 3,536 new rooms opened and 2,204 rooms left the system. * The Board of Directors proposes a dividend of EUR 0.03 per share. MEUR Q4 2014 Q4 2013 FY 2014 FY 2013 ----------------------------------------------------------- Revenue 238.0 236.0 937.3 919.5 ----------------------------------------------------------- EBITDAR 71.4 79.6 313.8 317.0 ----------------------------------------------------------- EBITDA 14.8 25.8 71.3 80.7 ----------------------------------------------------------- EBIT 0.5 12.9 30.7 44.2 ----------------------------------------------------------- Profit/loss for the period -0.9 7.3 14.2 23.2 ----------------------------------------------------------- EBITDAR margin, % 30.0% 33.7% 33.5% 34.5% ----------------------------------------------------------- EBITDA margin, % 6.2% 10.9% 7.6% 8.8% ----------------------------------------------------------- EBIT margin, % 0.2% 5.5% 3.3% 4.8% ----------------------------------------------------------- Comments from the CEO 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 Presentation of the Q4 Results 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: Sweden, Local: +46(0)8 5033 6539 Sweden, Free: 0200 883 440 UK, Local: +44(0)20 3427 1906 UK, Free: 0800 279 5736 USA, Local: +1 212 444 0481 USA, Free: 1877 280 2342 France, Local: +33(0)1 76 77 22 25 France, Free: 0805 631 579 Confirmation code: 9825837. For a replay of the conference call please visit www.investor.rezidor.com. Financial Calendar Q1 2015 results: April 24, 2015 AGM 2015: April 24, 2015 Q2 2015 results: July 23, 2015 Q3 2015 results: October 22, 2015 For Further Information, Contact 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 About the Rezidor Hotel Group 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: [HUG#1894885]

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