LIPTOVSKÝ MIKULÁŠ (February 28, 2025) – Tatry mountain resorts, a.s. (“TMR,” “the Company”) today published its annual report for the 2023/24 financial year, reflecting a period of strategic decisions, financial successes, and stable growth in the tourism sector.
Key performance indicators in individual segments showed significant growth compared to the previous year, which reflected in higher revenues.
“Over the past financial year, our company experienced a period marked by significant strategic decisions and financial successes. Despite a dynamic economic environment, we managed to strengthen our position as a leader in the tourism sector in Central and Eastern Europe while simultaneously laying a solid foundation for future growth and development. One of the most significant milestones this year was a successful share capital increase through a share issue totaling EUR 120 million. This step clearly demonstrates the trust our shareholders place in our strategy and in the company’s long-term potential. Strengthening our capital position allows us to continue our development, improve the quality of our services, and enhance our competitiveness. Following this capital increase, we achieved another major success in external financing by signing a comprehensive financing package that included a senior loan of EUR 180 million from leading Slovak and Czech banks as well as a Polish bank, and a junior loan of EUR 110 million from J&T Bank. We used the proceeds to refinance and repay almost all the Group’s bank liabilities and bonds. This support from renowned financial institutions is a clear signal of their trust in our sustainability, credibility, and ability to generate long-term value for all stakeholders. This move will significantly reduce the Group’s debt burden, will create a room for investments in the development of our resorts, and will open the possibility of paying dividends to our shareholders.
In the financial year 2023/24, the Group’s total revenuesreached EUR 207 million a year-on-year increase of 9.8% – with operating profit (EBITDA) of EUR 57.7 million, which includes a one-off impairment on a receivable. After adjusting for this item, EBITDA reached EUR 59.6 million, confirming the figures from 2023. In the financial year 2023/24, the Group’s total revenues reached EUR 207 million a year-on-year increase of 9.8% – with operating profit (EBITDA) of EUR 57.7 million,” commented Igor Rattaj, Chairman of the Board and CEO of the TMR Group.
The largest segment, Mountain Resorts, generated revenues of EUR 78.715 million, representing a year-on-year increase of 11.1%. The Amusement Parks segment recorded an increase in revenues to EUR 26.209 million. Revenues from Dining rose to EUR 29.908 million. In the Retail segment, whose performance correlates to some extent with the performance of the resorts, revenues increased to EUR 7.881 million. The Hotels segment reported a rise in sales to EUR 62.457 million.
The number of skier visits in the Mountain Resorts segment was up by 1.1% year-on-year, despite unfavorable weather at the end of the winter season, reaching 3.008 million (2.975). During the observed period, the Amusement Parks segment saw visitor numbers grow by almost 2%, reaching 1.810 million visitors (1.780).
The average weighted occupancy of the hotel portfolio remained at 59%. The average daily rate (ADR) across the portfolio increased by 4.3% to EUR 117.02.
Over the past year, we reinvested EUR 19 million, primarily into our Slovak resorts with a focus on the Jasná Central Resort Hotel project. Significant investments included the acquisitions of Hotel Sasanka and land in the High Tatras, as well as the investments in our foreign resorts in Poland, the Czech Republic, and Austria.
Detailed results are available at https://tmr.sk/en/investor-relations/shares/annual-reports
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The company Tatry mountain resorts, a.s. (TMR) is a leading entity in the field of tourism in Central and Eastern Europe, which owns or leases and operates attractive mountain resorts, amusement parks, golf resort, restaurants, sports services, shops, and hotels. In the Low Tatras in Slovakia, TMR owns and operates the Jasná Nízke Tatry resort and the hotel’s Grand Jasná, Hotel Tri Studničky, Chalets Jasná Collection, Hotel Srdiečko, Hotel Pošta, Night at Mt. Chopok, Hotel SKI, Hotel Liptov and Hotel Ostredok. TMR is also the owner of the water parks Tatralandia and Bešeňová. These are the largest water parks operating year-round, offering accommodation in bungalows and apartments in Holiday Village Tatralandia and in the hotels Bešeňová, Galeria Thermal Bešeňová, and Hotel Akvamarín Bešeňová. In the High Tatras, TMR owns and operates the Vysoké Tatry resort with mountain locations Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso. In the Slovak High Tatras, TMR also owns the hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso, Horec Apartments Tatranská Lomnica and Night at Mt. Lomnickom štít. In Austria, the Group owns and operates the alpine resort on the Mölltaler Gletscher glacier and its sister resorts Ankogel Mallnitz and Muttereralm Innsbruck. In the Czech Republic, TMR also holds a minority stake in Melida, a.s., which leases and operates the Špindlerův Mlýn resort. TMR also leases and operates the Czech ski area Ještěd, Golf & Ski Resort Ostravice, and leases the Kaskáda Golf Resort Brno, where it oversees the operation of the hotel, restaurant, and congress center. In Poland, TMR owns and operates the mountain resort Szczyrk Mountain Resort and Legendia – Silesian Amusement Park (Śląskie Wesołe Miasteczko). In the real estate projects, the Group primarily focuses on the development, construction, and sale of apartments and commercial spaces and the leasing of hotels in TMR resorts. By the end of the 2024 fiscal year, approximately EUR 485 mil., has been reinvested in the development and modernization of TMR resorts. TMR shares are traded on three European stock exchanges in Bratislava, Prague, and Warsaw.