The TMR Group published amended and complete Annual Report 2018/19

The TMR Group published amended and complete Annual Report 2018/19
The TMR Group published amended and complete Annual Report 2018/19
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The Annual Report has been completed with the audited consolidated financial statements. Consequently, the Board of the Directors’ performance review has been amended.  The notes of the consolidated financial statements also include the projected impact of the COVID-19 pandemics on the TMR Group. The released consolidated results include the period of 12 months of the financial year 2018/19 (the period from November 1, 2018 to October 31, 2019).

Financial Performance

In the prior year, the Group’s total consolidated revenues reached EUR 127.592 mil., an increase of 17.9%. Revenues were positively impacted mainly by a higher visit rate in the Szczyrk resort, “flexi pricing” especially in Jasná, the acquisition of Austrian resorts of Mölltaler Gletscher and Ankogel, the new golf segment, ancillary services, the operations of the hotel portfolio and real estate projects. Revenues also includes the one-off impact of sales, advertising and accommodation from the World Cup in Alpine Skiing in Špindlerův Mlýn, organized by TMR. Excluding the one-off effects and acquisitions, revenues improved by 11.8% year-over-year.

Another TMR’s key financial performance indicator – EBITDA – reached EUR 35.496 mil.; which means an increase of 3.9%. On the like-for-like basis EBITDA increased year-over-year 15.2%. Cost of materials and goods sold grew by 36.1%, mainly due to the construction of apartments and chalets.  Personnel and operating costs were up 18.0%. The rise in personnel and operating costs was caused mainly by the pressure of the labor market to raise wages, an increase in the minimum wage, hiring of new employees for the central department, and acquisitions. The resorts of Mölltaler Gletscher and Ankogel also had a negative impact on EBITDA. Since they were acquired after the winter season, they did not generate revenues high enough to cover their operating costs in the summer season.  TMR’s operating profitability ratio (EBITDA margin) reached the level of 27.8%.

The Group recognized a net consolidated loss in the amount of EUR -2.288 mil, a decrease compared to EUR 3.095 mil. in the prior period, due to higher operating costs, interest expense, depreciation, and impairment of property. The parent company reported a net profit of EUR 4.087 mil.

For more detailed results visit http://tmr.sk/investor-relations/financial-information/.


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Tatry mountain resorts, a.s. (
TMR) is the leader in tourism in Central and Eastern Europe; it owns or leases and operates attractive mountain resorts, amusement parks, golf resorts, restaurant facilities, sports services, stores and hotels. In the Low Tatras, Slovakia TMR owns and operates the resort Jasná Nízke Tatry and hotels Hotel Grand Jasná, Boutique Hotel Tri Studničky, Chalets Jasná De Luxe, Hotel Srdiečko, Hotel Pošta and Hotel Rotunda. TMR is also the owner of Aquapark Tatralandia, the largest Slovak water park with year-round operation, which besides water entertainment includes Tropical Paradise, a special tropical indoor hall with sea water, as well as Fun Park, and accommodation in bungalows and suites of Holiday Village Tatralandia. In Slovakia’s High Tatras TMR owns and operates the resort Vysoké Tatry with mountain areas of Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso, which TMR co-manages. In the High Tatras TMR also owns hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso and A night on Mt Lomnický štít. In Austria the Group owns and operates the alpine glacier resort, Mölltaler Gletscher, and its sister resort, Ankogel Mallnitz. In Czechia TMR also owns a minority share in Melida, a.s., which leases and operates the Špindlerův Mlýn resort. TMR also leases and operates the ski resort Ještěd, Golf & Ski Resort Ostravice and leases Kaskáda Golf Rezort Brno, where it runs a hotel, a restaurant and a conference centre. In Poland TMR owns and operates Szczyrk Mountain Resort and Legendia – Silesian Amusement Park (Śląskie Wesołe Miasteczko). Real estate projects are mostly focused on development, construction, and selling of apartments and non-residential premises and on hotel lease in the TMR resorts. By the end of 2019 around EUR 400 mil. had been invested into development and modernisation of TMR’s resorts. TMR shares are traded on three European stock exchanges – in Bratislava, Prague, and Warsaw.