Pandox AB (publ) interim report January–June 2019

Profitable diversification

April–June 2019

  • Revenue from Property Management amounted to MSEK 783 (791). The decrease is explained by a change in property tax accounting amounting to MSEK 30. For comparable units the decrease was 0.4 percent, adjusted for currency effects
  • Net operating income from Property Management amounted to MSEK 704 (664), MSEK 689 excl. the effects of IFRS 16. For comparable units the increase was 0.3 percent, adjusted for currency effects
  • Net operating income from Operator Activities amounted to MSEK 212 (167), MSEK 206 excl. the effects of IFRS 16. For comparable units the increase was 16.8 percent, adjusted for currency effects
  • Calendar effects are estimated to have had a negative effect on revenue growth of 2-3 percent for the comparable portfolio
  • EBITDA amounted to MSEK 868 (794), MSEK 847 excl. the effects of IFRS 16
  • Cash earnings amounted to MSEK 565 (537)
  • Cash earnings per share amounted to SEK 3.37 (3.19)
  • Profit for the period amounted to MSEK 760 (763)
  • Earnings per share amounted to SEK 4.53 (4.53)

January–June 2019

  • Revenue from Property Management amounted to MSEK 1,468 (1,412). For comparable units the increase was 0.8 percent, adjusted for currency effects
  • Net operating income from Property Management amounted to MSEK 1,287 (1,192), MSEK 1,258 excluding the effects of IFRS 16. For comparable units the increase was 0.7 percent, adjusted for currency effects
  • Net operating income from Operator Activities amounted to MSEK 307 (233), MSEK 296 excluding the effects of IFRS 16. For comparable units the increase was 16.9 percent, adjusted for currency effects
  • EBITDA amounted to MSEK 1,502 (1,354), MSEK 1,462 excluding the effects of IFRS 16
  • Cash earnings amounted to MSEK 928 (873)
  • Cash earnings per share amounted to SEK 5.53 (5.18)
  • Profit for the period amounted to MSEK 1,167 (1,215)
  • Earnings per share amounted to SEK 6.96 (7.22)

Significant events after the end of the period

  • Pandox concluded the acquisition of three hotel properties in Germany on 1 July
     

Attachment: Interim report January–June 2019
 

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 12 July 2019 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 147 hotels with approximately 32,800 hotel rooms in 15 countries. Pandox’s business is organised into Property Management, which comprises hotel properties leased on a long-term basis to leading 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