Pandox AB (publ) year-end report January – December 2017

Fast business pace and good earnings growth

Quarter October – December 2017

  • Revenue from Property Management amounted to MSEK 571 (458). Adjusted for currency effects and comparable units, the increase was 3 percent.
  • Net operating income from Property Management amounted to MSEK 490 (368). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Operator Activities amounted to MSEK 144 (130). Adjusted for currency effects and comparable units, the increase was 25 percent.
  • EBITDA amounted to MSEK 597 (464).
  • Profit for the period amounted to MSEK 1,183 (772).
  • Cash earnings amounted to MSEK 482 (314), incl. repaid tax and financial income of MSEK 31 in total.
  • Earnings per share amounted to SEK 7.47 (5.08).
  • Pandox announced and completed acquisition of hotel portfolio in the UK and Ireland for MGBP 680 (Note 4).
  • A directed share issue raised MSEK 1,480 before transaction costs.

Period January – December 2017

  • Revenue from Property Management amounted to MSEK 2,202 (1,787). Adjusted for currency effects and comparable units, the increase was 4 percent.
  • Net operating income from Property Management amounted to MSEK 1,882 (1,495). Adjusted for currency effects and comparable units, the increase was 4 percent.
  • Net operating income from Operator Activities amounted to MSEK 494 (439). Adjusted for currency effects and comparable units, the increase was 28 percent.
  • EBITDA amounted to MSEK 2,252 (1,817).
  • Profit for the period amounted to MSEK 3,148 (2,214).
  • Cash earnings amounted to MSEK 1,660 (1,289).
  • Earnings per share amounted to SEK 19.89 (14.65).
  • EPRA NAV per share amounted to SEK 144.54 (126.24).
  • The Board of Directors is proposing a dividend of SEK 4.40 (4.10) per share, total MSEK 737 (646).
        

Attachment: Year-end report January – December 2017

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. The information was submitted for publication, through the agency of the contact persons set out above 15 February 2018 at 07:00 CET.
     

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 143 hotels with approximately 31,500 hotel rooms in fifteen 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 listed on Nasdaq Stockholm. www.pandox.se