Quarter January – March 2017
- Revenue from Property Management amounted to MSEK 474 (386). Adjusted for currency effects and comparable units, the increase was 9 percent.
- Net operating income from Property Management amounted to MSEK 396 (320). Adjusted for currency effects and comparable units, the increase was 8 percent.
- Net operating income from Operator Activities amounted to MSEK 82 (54). Adjusted for currency effects and comparable units, the increase was 14 percent.
- EBITDA amounted to MSEK 450 (350).
- Profit for the period amounted to MSEK 527 (376).
- Cash earnings amounted to MSEK 290 (235).
- Earnings per share amounted to SEK 3.31 (2.49).
- EPRA NAV per share amounted to SEK 125.67 (129.77 taking into account provision for dividend of SEK 4.10).
Significant events during and after the period
- Pandox signed lease agreements for seven operator hotels in the Nordics with Scandic Hotels Group.
- Pandox announced its intention to acquire Silken Berlaymont in Brussels for the equivalent of around MSEK 315.
Attachment: Interim report January – March 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, Director 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, at 07:00 CEST on 4 May 2017.
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 120 hotels with more than 26,000 hotel rooms in ten 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.