TMR for half-year with net profit growth of 35.8%

TMR for half-year with net profit growth of 35.8%
TMR for half-year with net profit growth of 35.8%
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The released consolidated results include the first half of the financial year 2014/15 (the period from November 1, 2014 to April 30, 2015).
“The winter season 2014/15, which lasted well beyond the first half-year period, is successfully behind us. Weather conditions of this past winter turned out in our favor as opposed to last year’s extremely unfavorable winter. Also thanks to temperatures low enough for snowmaking and thanks to abundant snowfall the season continued this time also past Easter till almost half May, and significant revenue increases of the first quarter continued also during the second one. The solid results were achieved mainly by increased visit rate in our resorts in the High and Low Tatras – by +21.0%. During peak periods of New Year’s and the Golden week we managed to fill our hotels to the limit despite a decline in Russian-speaking clients. The decline in the share of clients from Russia by half and from Ukraine was compensated by Polish, Czech, and Slovak guests.  The visit rate in our High Tatras resort during spring break was comparable to the top season. This past winter season we grew in the number of ski passes sold via external lodging providers who provided ski passes directly to their clients. This positive fact in the client’s favor confirms TMR’s deepening cooperation with other tourist businesses in the regions of Liptov and the Tatras. The number of ski passes sold via our loyalty program and e-shop GOPASS tripled.” Chairman of the Board of Directors and CEO of TMR, Bohuš Hlavatý, commented on the results.
The main segment of Mountains & Leisure recorded a revenue increase of 29.1% to EUR 30.6 mil., out of which Mountain Resorts improved 36.9%; Aquapark fell 1.2%; Dining posted a 15.6% growth; and Sport Services & Stores recorded a 35.1% increase. The results were impacted by excellent conditions for winter sports, in terms of temperatures, abundant snowfall, and the season’s length. Mountain resorts Jasná Nízke Tatry and Tatranská Lomnica were visited by total of 1.089 million visitors (skier days), in comparing to 899 thousand last season. The Polish SON resort was visited by 150 thousand visitors during the first season since its acquisition by the Company. For the observed period Aquapark Tatralandia recorded a 6.3% increase in the number of visitors in total of 223 thousand. The average revenue per visitor in Mountain Resorts dropped 0.5% and only in electronic ski pass sales, due to the fact that the number of skier days sold via GOPASS at discounted prices had tripled. Aquapark’s average revenue per visitor dropped by 7.4% due to an increased number of applied discount coupons, in the dining facilities on the slope the client spent on average 12.3% more, and Sports Services & Stores reported a 2.5% higher spending per visitor.
The Hotels segment boosted total revenues with a 8.5% growth to reach EUR 9.4 mil. mainly thanks to the average rate increased by 2.8% on the hotel portfolio’s level and occupancy increased by 4.1 percentage points. The Hotels’ success is also a result of effective marketing and sales and focus on loyal clients. The results were achieved also thanks to maximum capacity of the hotels, especially in peak periods, such as New Year’s and “Golden week” (24/12 – 06/01) and thanks to the overall longer season than last year.
EBITDA increased by 38.9% year-over-year to EUR 15.4 mil. The growth of EBITDA was achieved also by efficient management of the hotels and operations and stable operating, mostly fixed, costs. Net profit achieved a 35.8% growth to total EUR 3.8 mil. Earnings per share were EUR 0.56.
By the end of FY 2014/15 the Board of Directors expects to meet the financial plan of a 10.3% growth in revenues to EUR 62.1 mil. and EBITDA of EUR 21.1 mil., excluding the impact of the recently acquired Silesian Amusement Park, which strengthened the diversification of TMR’s business model, though. TMR’s results till the end of FY 2014/15, i.e. till 31 October 2015, will be impacted by the summer season in the mountain resorts, Aquapark Tatralandia, and TMR hotels. 
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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 Hotel Rotunda. 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 co-manages. In the High Tatras TMR also owns hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, and Hotel FIS 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 a 97% share in the mountain resort Szczyrkowski Ośrodek Narciarski S.A. (SON) and a 75% share in a company that owns and operates Silesian Amusement Park (Śląskie Wesołe Miasteczko).. TMR also owns and leases to third parties hotels Slovakia, Kosodrevina, Liptov and Ski&Fun Záhradky a Bungalovy. By the end of 2014 nearly EUR 200 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.