Promising start to the year
January-
- Revenues for Leases amounted to MSEK 845 (780). For comparable units in fixed currency, the increase was 2 percent
- Revenues for Own Operations amounted to MSEK 656 (573) MSEK. For comparable units in fixed currency, the increase was 6 percent
- Net operating income for Leases amounted to MSEK 694 (662). For comparable units in fixed currency, the increase was 2 percent
- Net operating income for Own Operations amounted to MSEK 91 (52). For comparable units in fixed currency, the increase was 22 percent
- EBITDA amounted to MSEK 740 (675), an increase of 10 percent
-
Cash earnings amounted to MSEK 272 (259), equivalent to
SEK 1.48 (1.41) per share - Changes in property values amounted to MSEK 34 (-212) MSEK. Unrealised changes in value of derivatives amounted to MSEK 298 (-344)
-
Profit for the period amounted to MSEK 454 (-203), equivalent to
SEK 2.43 (-1.17) per share
- The timing of Easter in March had a negative effect on total revenues of approximately 2 percentage points in the quarter
-
26 February an agreement to divest
DoubleTree byHilton Montreal inCanada was made. The divestment includes both the hotel property and the hotel operations with a transaction price of approximately MCAD 80, equivalent to approximately MSEK 630. The deal was closed in the second quarter and the property was transferred 15 April
Comment from CEO
"The hotel market developed in a positive direction in the first quarter, which is the seasonally slowest of the year, despite a negative effect from the timing of the Easter holiday in March. Total revenue and net operating income increased by 3 and 4 percent respectively for comparable units in fixed currency."
"The financing climate improved further during the quarter. We refinanced loans equivalent to around MSEK 3,000 - the majority of which in the Nordics - with a three-year maturity and with a lower margin of credit than previously. The equivalent of around MSEK 2,100 of these loans have been sustainability-linked, which means that around 12 percent of the total loan portfolio is now sustainability-linked."
"As previously stated, for the full year we anticipate some RevPAR growth in the hotel market. Drivers of this include a strong event calendar in
Presentation of the interim report
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Attachment: Interim report January-
FOR FURTHER INFORMATION, PLEASE CONTACT:
Liia Nõu, CEO, +46 (8) 506 205 50
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