TMR released interim results for nine months of the financial year 2013/14 and for the third quarter. Total revenues for nine months maintained the level of the same period last year at EUR 43.2 mil., whilst third quarter revenues decreased slightly to EUR 10.4 mil. EBITDA (earnings before interest, taxes, depreciation, and amortization) for the three quarters was down 3.6% year-over-year, although the third quarter EBITDA improved by 21.2%.
“I consider the results for the first nine months of the year a success in comparing to last, record-breaking year and in the light of an extremely mild and dry winter and a relatively unfavorable weather during the summer. The winter season, which was shortened due to the weather, had a negative impact on the number of skier days at our cableways. In the summer season we had to fight a rainy weather that had an impact on summer hiking or on visits of aquaparks. Despite the negative weather factor, it is safe for me to state that we managed this tough period with success, which was achieved mainly thanks to our hotels, which have been posting stable growth in revenues and operating profit as a result of a more efficient cost management. During the third quarter the mountain resorts’ visit rate even reached the level of last year“, Bohuš Hlavatý, chairman of the Board of Directors and TMR’s CEO, commented on the results.
The number of visitors in the TMR mountain resorts reached 1.158 mil. for the nine-month period, a 6.6% decrease, whereas during the third quarter the resorts were visited by 259 thousand visitors, equally to last year. Aquapark Tatralandia recorded a decline of 6.7% in visitors for the nine months, or 403 thousand in total, and in the third quarter it was visited by 13.1% less people, 194 thousand in total.
Average occupancy of the portfolio hotels slightly improved for the nine months to 48.1%, whereas average daily rate per room increased 13.4%. For the third quarter the occupancy improved 5.6 percentage points and the average rate was up even by 22%.
More detailed information on the nine-month results is available at http://tmr.sk/investorrelations/financial-information/financial-results-/.
Tatry mountain resorts, a.s. (TMR) is the leader in tourism in the Central and Eastern Europe; it owns and operates attractive mountain resorts and hotels. In the Low Tatras TMR owns and operates the resort Jasná Nízke Tatry and hotels Wellness hotel Grand Jasná, Boutique Hotel Tri Studničky, Chalets Jasná De Luxe, Hotel Srdiečko, and Million Star Hotel. TMR is also the owner of Aquapark Tatralandia, the largest Slovak aquapark with year-round operation, which besides water entertainment includes Tropical Paradise, a special tropical indoor hall with sea water, as well as accommodation in bungalows and apartments of Holiday Village Tatralandia. In the High Tatras TMR owns and operates the resort Vysoké Tatry with mountain areas of Tatranská Lomnica, Starý Smokovec and Štrbské Pleso, which TMR comanages. In the High Tatras TMR also owns hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, and Hotel IS Štrbské Pleso. TMR also owns 19% in Melida, a.s., which leases and operates the resort Špindlerův Mlýn in the Czech Republic. In Poland TMR owns the Szczyrk resort. TMR also owns and leases to third parties hotels Slovakia, Kosodrevina, Liptov and Ski&Fun Záhradky a Bungalovy. By the end of 2013 nearly EUR 190 mil. have been invested into development and modernization of TMR’s resorts. TMR shares are traded on three European stock exchanges – in Bratislava, Prague, and Warsaw.