Continued positive development for Pandox

Second quarter January – June 2015

  • Revenue from Property Management amounted to MSEK 388.1 (380.2). ). The divestment of 15 hotel properties in April 2014 affects the comparison by one month. Adjusted for currency effects and comparable units, the increase was 6.7 percent.
  • Net operating income from Property Management amounted to MSEK 311.5 (308.3), an increase of 1.0 percent. Adjusted for currency effects and comparable units, the increase was 6.3 percent.
  • Net operating income from Operator Activities amounted to MSEK 145.7 (117.5), an increase of 24.0 percent. Adjusted for currency effects and comparable units, the increase was 24.5 percent.
  • EBITDA amounted to MSEK 438.1 (409.2), an increase of 7.1 percent.
  • Profit for the period amounted to MSEK 651.2 (537.1).
  • Cash earnings amounted to MSEK 318.5 (271.1), an increase of MSEK 47.4.

Interim period January – June 2015

  • Revenue from Property Management amounted to MSEK 720.0 (738.8). The divestment of 15 hotel properties in April 2014 affects the comparison by four months. Adjusted for currency effects and comparable units, the increase was 5.5 percent.
  • The total net operating income was MSEK 767.7 (737.0), an increase of 4.2 percent.
  • EBITDA amounted to MSEK 727.5 (705.5), an increase of 3.1 percent.
  • Profit for the period amounted to MSEK 1,025.2 (888.4).
  • Cash earnings amounted to MSEK 489.3 (419.8), an increase of MSEK 69.5.
  • The market value of the properties amounted to MSEK 27,327 (26,504).
  • The net asset value (EPRA NAV) per share was SEK 99.23 (92.11).
  • Pandox expects continued growth in cash earnings in 2015 compared to 2014.

Attachment: Interim report January – June 2015

FOR MORE INFORMATION, PLEASE CONTACT:

Anders Nissen, CEO, +46 (0)708 46 02 02
Liia Nõu, CFO, +46 (0)702 37 44 04

Pandox AB (publ) is required to publish this information under the Swedish Securities Market Act and/or Financial Instruments Trading Act. The information was submitted for publication on 20 August 2015 at 07:00 CEST.

About Pandox
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio comprises 104 hotels with approximately 22,000 hotel rooms across eight countries. Pandox’s business is organised into Property management, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Operator activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are, as of 18 June 2015, listed on Nasdaq Stockholm. www.pandox.se.

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