Pandox AB (publ) year-end report January – December 2016

Strong end to a strong year

Quarter October– December 2016

  • Revenue from Property Management amounted to MSEK 458 (365). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Property Management amounted to MSEK 368 (306). Adjusted for currency effects and comparable units, the increase was 2 percent.
  • Net operating income from Operator Activities amounted to MSEK 130 (104). Adjusted for currency effects and comparable units, the increase was 10 percent.
  • EBITDA amounted to MSEK 464 (381).
  • Profit for the period amounted to MSEK 772 (681).
  • Cash earnings amounted to MSEK 314 (263 adjusted for extra tax cost).
  • Earnings per share before and after dilution amounted to SEK 5.08 (4.54).
  • A directed share issue raised MSEK 1,012 before transaction costs.

Period January – December 2016

  • Revenue from Property Management amounted to MSEK 1,787 (1,543). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Property Management amounted to MSEK 1,495 (1,280). Adjusted for currency effects and comparable units, the increase was 7 percent.
  • Net operating income from Operator Activities amounted to MSEK 439 (416). Adjusted for currency effects and comparable units, the decrease was 1 percent.
  • EBITDA amounted to MSEK 1,817 (1,603).
  • Profit for the period amounted to MSEK 2,214 (2,131).
  • Cash earnings amounted to MSEK 1,289 (1,080 adjusted for non-recurring items net).
  • Earnings per share before and after dilution amounted to SEK 14.65 (14.21).
  • The Board of Directors is proposing a dividend of SEK 4.10 (3.80) per share, total MSEK 646 (570).

Significant events after the period

  • Pandox signed twenty-year lease agreements for seven operations hotels in the Nordics with Scandic Hotels Group and ended its operator agreement for Grand Hotel Oslo.

Attachment: Year-end report January – December 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, 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 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 16 February 2017.

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 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.

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About Us

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 122 hotels with approximately 27,000 hotel rooms in eleven 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.