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Pandox AB (publ) interim report January – June 2016

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Strong progress for Property Management

Quarter April – June 2016

  • Revenue from Property Management amounted to MSEK 464 (388). Adjusted for currency effects and comparable units, the increase was 10 percent.
  • Net operating income from Property Management amounted to MSEK 398 (312). Adjusted for currency effects and comparable units, the increase was 13 percent.
  • Net operating income from Operator Activities amounted to MSEK 125 (146). Adjusted for currency effects and comparable units, the decrease was 15 percent.
  • The negative effect on net operating profit from Operator Activities attributable to the terrorist attacks in Brussels is estimated at around MSEK 28.
  • EBITDA amounted to MSEK 491 (439).
  • Profit for the period amounted to MSEK 474 (651).
  • Cash earnings amounted to MSEK 354 (319).

Interim period January – June 2016

  • Revenue from Property Management amounted to MSEK 850 (720). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Property Management amounted to MSEK 718 (572). Adjusted for currency effects and comparable units, the increase was 7 percent.
  • Net operating income from Operator Activities amounted to MSEK 179 (197). Adjusted for currency effects and comparable units, the decrease was 11 percent.
  • The negative effect on net operating profit from Operator Activities relating to the terrorist attacks in Brussels is estimated at around MSEK 35. Our earlier communicated estimate of a negative impact of around MSEK 40 for the full year 2016 still stands.
  • EBITDA amounted to MSEK 841 (729).
  • Profit for the period amounted to MSEK 850 (1,025).
  • Cash earnings amounted to MSEK 589 (490).

Significant events after the period

  • There were no significant events after the end of the period.

Attachment: Interim report January – June 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 Investor Relations, +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 CEST on 18 August 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 112 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.

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