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    MEL   ES0176252718

MELIA HOTELS INTERNATIONAL, S.A.

(MEL)
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Melia Hotels International S A : Spain's Melia Hotels sees return to profitability in June

06/10/2021 | 12:08pm EDT

MADRID, June 10 (Reuters) - Spanish hotel chain Melia expects to return to profitability in June after 15 months in the red, Chief Executive Gabriel Escarrer said on Thursday at the annual shareholders meeting.

The company will likely report positive earnings before interest, taxes, depreciation and amortization in June and a positive overall cashflow in July, Escarrer told shareholders.

Mallorca-based Melia has booked five consecutive quarters of net losses since the coronavirus pandemic struck, paralysing global travel and taking a heavy toll on the hotel industry.

But Escarrer pointed to a recovery in global air traffic, soaring reservations in Spain and encouraging demand from Germany and France as sources of optimism for a solid second half of the year.

"I'm sure that these 'green shoots' in tourism demand herald a recovery that has already begun in the vacation sector ... and which will extend out into other segments in the medium term," he said.

Business travel should begin to pick up towards the end of the year, with several corporate events scheduled in the last quarter, he added.

Foreign tourism to Spain crashed 80% last year, forcing the closure of many hotels and drawing the eyes of international investors.

Recent data suggest a nascent recovery is underway, though arrivals remain far below 2019's levels.

The government predicts tourist numbers could reach 30%-40% of their pre-pandemic levels in summer, rising to up to 70% by the end of the year. (Reporting by Inti Landauro and Nathan Allen Editing by Mark Potter)


© Reuters 2021
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Financials
Sales 2021 924 M 1 100 M 1 100 M
Net income 2021 -249 M -297 M -297 M
Net Debt 2021 2 715 M 3 232 M 3 232 M
P/E ratio 2021 -6,03x
Yield 2021 -
Capitalization 1 490 M 1 774 M 1 774 M
EV / Sales 2021 4,55x
EV / Sales 2022 2,83x
Nbr of Employees 8 475
Free-Float 45,4%
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Technical analysis trends MELIA HOTELS INTERNATIONAL, S.A.
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 19
Last Close Price 6,77 €
Average target price 6,71 €
Spread / Average Target -0,88%
EPS Revisions
Managers and Directors
NameTitle
Gabriel Juan Escarrer Jaume Vice Chairman & Chief Executive Officer
Maria Del Pilar Dols Company Chief Financial Officer
Gabriel Escarrer Juliá Non-Executive Chairman
Ángel Naveiras Vice President-Global Technical Office
Andre Philippe Gerondeau Chief Operating Officer
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