Pandox AB (publ) interim report January – September 2016

Strong cash flow and high returns

Quarter July – September 2016

  • Revenue from Property Management amounted to MSEK 479 (458). Adjusted for currency effects and comparable units, the increase was 7 percent.
  • Net operating income from Property Management amounted to MSEK 409 (403). Adjusted for currency effects and comparable units, the increase was 9 percent.
  • Net operating income from Operator Activities amounted to MSEK 130 (115). Adjusted for currency effects and comparable units, the increase was 5 percent.
  • EBITDA amounted to MSEK 512 (495).
  • Profit for the period amounted to MSEK 592 (425).
  • Cash earnings amounted to MSEK 386 (328 adjusted for one-time gain and received tax compensation).

Interim period January – September 2016

  • Revenue from Property Management amounted to MSEK 1,329 (1,178). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Property Management amounted to MSEK 1,127 (974). Adjusted for currency effects and comparable units, the increase was 8 percent.
  • Net operating income from Operator Activities amounted to MSEK 309 (312). Adjusted for currency effects and comparable units, the decrease was 6 percent.
  • The negative effect on net operating income from Operator Activities attributable to the terrorist attack in Brussels is estimated at around MSEK 48 compared to the same period last year. The negative effect on net operating income for full-year 2016 is now estimated to amount to just over MSEK 40.
  • EBITDA amounted to MSEK 1,353 (1,222).
  • Profit for the period amounted to MSEK 1,442 (1,450).
  • Cash earnings amounted to MSEK 975 (817 adjusted for one-time gain and received tax compensation).

Significant events after the period

  • Pandox acquired Hilton Grand Place Brussels on 10 October, for the equivalent of approximately MSEK 525.

Attachment: Interim report January – September 2016

FOR FURTHER INFORMATION, PLEASE CONTACT:
Anders Nissen, CEO, +46 (0) 708 46 02 02
Liia Nõu, CFO, +46 (0) 702 37 44 04
Anders Berg, Head of Communications and IR, +46 (0) 760 95 19 40

This information is information that Pandox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CET on 10 November 2016.

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 currently comprises 113 hotels with more than 24,000 hotel rooms in 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.