Rezidor Hotel Group(1): Interim Report January – September 2006
Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Australia or Japan
Third quarter 2006 highlights – Continued growth in revenues and EBITDA
22.6% increase in consolidated revenue to MEUR 180.0 (146.9).
Consolidated Profit after tax of MEUR 9.8 (18.8).
Consolidated basic Earnings Per Share(2) amounts to EUR 70.8 (EUR 160.2), based on 100,000 shares outstanding.
Growth in consolidated EBITDAR by 22.5% to MEUR 63.0 (51.4), with EBITDAR margin of 35.0% (35.0).
Consolidated EBITDA improved by 13.0% to MEUR 18.6 (16.5), with EBITDA margin of 10.4% (11.2).
Revenue per available room (RevPAR) (including leased and managed hotels) reached EUR 74
(72) and occupancy rate was 74% (74%).
Nine-month period 2006 highlights – Solid EBITDA margin improvement
24.3% increase in consolidated revenue to MEUR 521.9 (419.7).
Consolidated Profit after tax of MEUR 20.2 (12.4).
Consolidated basic Earnings Per Share(2) amounts to EUR 119.3 (96.1).
Group equity per share(2) amounts to EUR 1,007,29 (Dec 05 888,72).
Growth in consolidated EBITDAR by 37.3% to MEUR 174.7 (127.3), with EBITDAR margin of 33.5% (30.3).
Consolidated EBITDA improved by 75.6% to MEUR 43.6 (24.8), with increase of EBITDA margin up to 8.4% (5.9).
RevPAR (including leased and managed hotels) up by 7.5% to EUR 72 (67), and occupancy was 70% (68).
Rezidor signed 23 contracts for new hotels during the nine-month period representing 5,485 rooms. The 23 contracts included 4 leased and 19 managed hotels.
SAS Group announced on June 22nd its intention to prepare for a listing of its hotels business, Rezidor Hotel Group AB ("Rezidor"), through an initial public offering ("IPO") on the Stockholm Stock Exchange.
This morning, on October 26th, SAS published its intention to float (“ITF”), and the IPO is expected to be completed by the end of this year, subject to market conditions and final SAS Board approval. Carlson Hotels Worldwide has declared its intention to remain a significant shareholder.
(1) Rezidor SAS Hospitality Group AB under name change to Rezidor Hotel Group AB.
(2) Impacted by minority interests related to a preference share structure which has, since the balance sheet date, been collapsed.
See section 2 of this report for a further discussion.
Download of full report as pdf: www.rezidor.com, financial information
Note to Editors:
Rezidor is one of the fastest growing hospitality companies in the world, and as at 30th September 2006 has a portfolio of 272 hotels in operation or under development in 47 countries. Rezidor operates or franchises Radisson SAS Hotels & Resorts, Regent International Hotels, Park Inn and Country Inn within Europe, the Middle East and Africa. At present, SAS Group and Carlson Hotels Worldwide have 75 percent and 25 percent shareholdings respectively in Rezidor. In November 2005, Rezidor signed a worldwide license agreement with the Italian fashion house Missoni, to develop and operate a lifestyle hotel brand of the same name: Hotel Missoni. The corporate office of Rezidor is based in Brussels. For more information on Rezidor and its brands, visit www.rezidor.com.
The information contained herein is not for publication or distribution, directly or indirectly, in or into the United States of America. The materials do not constitute an offer of securities for sale in the United States, nor may the securities be offered or sold in the United States absent registration or an exemption from registration as provided in the U.S. Securities Act of 1933, as amended, and the rules and regulations there under. There is no intention to register any portion of the offering in the United States of America or to conduct a public offering of Securities in the United States of America.
The information contained herein shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of the securities referred to herein in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration, exemption from registration or qualification under the securities laws of any such jurisdiction.
This communication if directly only at (i) persons who are outside the United Kingdom or (ii) persons who have professional experience in matters relating to investments falling within Article 19(1) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this communication relates will only be available to and will only be engaged with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.