LIPTOVSKÝ MIKULÁŠ (July 31, 2023) –Tatry mountain resorts, a.s. („TMR“, the „Company“) published its financial results for the first six months of the financial year 2022/2023, as of April 30, 2023. The Group’s consolidated revenues were almost EUR 41 mil. higher during the reporting period, than during the same time last year. The operating profit before depreciation and amortization (EBITDA) increased by 104.7% to EUR 43.1 mil., and the net profit reached nearly EUR 18 million.
Key performance indicators in individual segments showed significant growth compared to the previous half-year, which reflected in higher revenues.
„ The results for the first half year are particularly solid compared to the first half of the last fiscal year, when our resorts were affected by epidemiological measures against COVID-19 at the beginning of winter season. Our mountain resorts in Slovakia had a successful winter season – important factors were the higher altitude as well as a high-quality snowmaking system, in which we have invested intensively in recent years. In Jasná as well as in High Tatras, we recorded a significant increase in visit rate and average revenue per visitor. On the contrary, due to the high temperatures at the beginning of January, the resorts in the Czech Republic and Poland did not meet the expected plan of sales and guests, which, compared to the same period last year, meant as well a decline in visit rate and sales revenue. More guests showed interest in skiing in Austrian resorts than a year ago, which contributed to higher sales, but due to unfavorable weather, we were unable to fulfill the plan, similarly to Poland and the Czech Republic, “commented Igor Rattaj, Chairman of the Board of Directors and CEO of TMR.
During the observed six-month period, the TMR Group (Tatry mountain resorts, a.s., and its subsidiaries) achieved consolidated total revenues of EUR 110.3 mil., representing a 60.2% year-on-year growth.
The largest segment, Mountain resorts, generated revenues of EUR 52.613 mil., a year-on-year increase of 44.2%. Revenues in the Leisure parks rose to €9.101 million. The Golf segment achieved revenues of EUR 413 ths., a growth of 21%. Revenues from the Dining facilities increased to EUR 14.963 mil. Sport services & Stores, correlated somewhat with the performance of Mountain Resorts, recorded an increase in revenues, totaling EUR 4.038 mil. (3.110). The Hotels segment recorded a revenue increase to EUR 28.863 mil. In the Real Estate segment during the observed six-month period TMR reported revenues of EUR 288 ths. mainly as a result of lease of hotels.
The number of skier days in Mountain Resorts was 22.3% higher year-on-year and reached the level of 2.421 mil. (1.981) skier days. Leisure Parks recorded an almost 75% rise in the number of visitors, as this segment includes for the first-time winter season of water park Bešeňová. In absolute terms, in the first half of the fiscal year, Leisure parks had 738 ths. visitors (423).
The average occupancy of the hotel portfolio rises by 10.2 percentage points to 57.9%. Average daily rate (ADR) increased from EUR 124 to EUR 126.7.
The EBITDA indicator improved by 104.7% year-on-year, reaching EUR 43.1 mil. The operating profitability, expressed as EBITDA margin, improved by 8.5 percentage points to 39.1%. The net profit reached €18 million, and the Earnings per Share (EPS) were reported at EUR 2.674.
By the end of the 2022/23 fiscal year, the Board of Directors presented a financial plan with annual consolidated revenues of EUR 180.0 mil. Earnings before interest, taxes, depreciation and amortization (EBITDA) are planned for EUR 49.0 mil. The results for the remainder of the fiscal year will depend mainly on the summer season in the mountain resorts, leisure parks, TMR hotels, and ancillary services.
Detailed results are available at https://tmr.sk/en/investor-relations/shares/financial-results
