TMR released today its interim financial results for the first quarter of the financial year 2014/15 – the period from November 1, 2014 till January 31, 2015. For the given period TMR reported revenues of EUR 18.0 mil., an 18.1% growth year-over-year, and earnings before interest, taxes, depreciation, amortization (EBITDA) in the amount of EUR 5.5 mil., an increase of 86.8%.
“We have the first half of the winter season 2014/15 successfully behind us. As opposed to last year, during the reported period of November 2014 till the end of January 2015 we utilized weather favorable for winter sports, and we kicked off the winter season already on December 5 and 6, whereas we started with snowmaking on November 21. During the peak periods of the New Year and ‘Golden Week’ we managed to fill our hotels to the limit despite a decline in Russian- speaking clients. Based on the lasting favorable conditions in Mountain Resorts we expect a long and successful winter season.” Bohuš Hlavatý, CEO and TMR’s Chairman of the Board of Directors commented on the results.
The successful first half of the winter season is a result of excellent skiing conditions and the state-of-the-art equipment in the mountain resorts, which attracted 26.6% more skiers than in the same period last year. Spending per client in the mountain resorts increased year-over-year by 2.5%. The acquisition of the resort SON in Poland also contributed to the revenue growth. During the peak periods of the New Year and Golden Week TMR hotels recorded full occupancy, which boosted the average occupancy by 3.8 percentage points, as well as the average daily rate per room by 2.9%.
Most of TMR’s segments and subsegments recorded a revenue growth: Mountain Resorts (+24.1%), Dining (+18.0%), Sports Services & Stores (+30.6%), Aquapark (-14.5%), and Hotels (+15.5%). Thanks to a more efficient management of operations and hotels and thanks to stable fixed costs of snowmaking and cableways operation the operating income before depreciation (EBITDA) increased by 86.8% and operating profitability by 11.3 percentage points to 30.6%.
A more detailed description of the 1Q 2014/15 results is available at http://tmr.sk/investor-relations/financial-information/.
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 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 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.