The released consolidated results include the first half of the financial year 2015/16 (the period from November 1, 2015 to April 30, 2016).
“Despite the fact that we experienced yet again one of warmer and drier winters, we can call it a success. We are pleased that our clients were not put off by the weather and they spent their getaways during the winter season 2015/16 in the Tatras. In our Slovak resorts we were able to offer our clients the most kilometers of ski trails with good snow conditions despite less than ideal snow conditions at the beginning of the winter. During Christmas holidays and the Golden week our hotels were yet again fully occupied. The visit rate in the Tatra resorts during the spring break was comparable to Christmas time. The season was relatively long, with strong Easter holiday, and lasted till the end of April. The number of skier days in the mountain resorts for the past half-year increased year-over-year by 6.8%. Besides the higher visit rate, this growth was achieved partly by our strengthening online sales via Gopass; by offering special deals to our clients in the Gopass program; by an increased sale of season passes thanks to our discounted presale of Smart Pass; and especially by our focus on the quality of services provided not only on the slope, but also in dining and lodging. Moreover, these increases were helped to also with attractions and events organized in our resorts, such as Ice Dome at Hrebienok or the widely successful Women’s World Cup that we managed to organize in Jasná again after 32 years,” Chairman of the Board of Directors and CEO of TMR, Bohuš Hlavatý, commented on the results.
For the observed six-month period the TMR Group (Tatry mountain resorts, a.s. and its subsidiaries) achieved consolidated total revenues of EUR 46.8 mil., a 15.6% increase year-over-year.
The main segment of Mountains & Leisure recorded a revenue increase of 6.6% to EUR 32.6 mil., out of which Mountain Resorts improved 3.7%; Leisure Parks grew 10.7%; Dining posted a 10.2% growth; and Sport Services & Stores recorded a 19.3% increase. The results were impacted by growth in the visit rate, especially in the Tatra resorts, and by growth in online ski pass sales. Mountain Resorts were visited by total of 1.3 million visitors (skier days), 6.8% more than the prior season. For the observed period Leisure Parks recorded a 5.6% decrease in the number of visitors in total of 210 thousand, whilst Silesian Amusement Park was closed during the winter season. The average revenue per visitor in Mountain Resorts dropped 3.4% due to a 31% rise in the number of skier days sold via the Gopass eshop at discounted rates. Aquapark’s average revenue per visitor was up by 12.4%, in the dining facilities on the slope and in Tatralandia the client spent on average the same amount as last year, and Sports Services & Stores reported a 7.4% higher spending per visitor.
The Hotels segment boosted total revenues with a 3.6% growth to reach EUR 9.8 mil. mainly thanks to the average rate increased by 6.4% on the hotel portfolio’s level and occupancy increased by 1.1 percentage points. The results were again supported by full capacity of the hotels, especially in peak periods, such as New Year’s and “Golden week” (the period after Christmas till Epiphany). With the hotel stays we observed an increase in guests from the neighboring countries, although the majority was domestic.
The share of revenues from the Real Estate segment for the first time grew to 9.5% of total revenues. During the observed six-month period TMR reported revenues from sale of nine chalets of the real estate project Chalets Jasná Otupné and ten bungalows of Holiday Village Tatralandia. Together with revenues from the lease of the accommodation capacities – Kosodrevina Lodge, Hotel Ski & Fun, and Hotel Liptov – the segment revenues reached EUR 4.5 mil., up by EUR 3.9 mil.
EBITDA increased by 10.9% year-over-year to EUR 17.1 mil. and like-for-like excluding the impact of Silesian Amusement Park +14.4%. The growth of EBITDA was achieved especially by the sale of Chalets Jasná Otupné, by Mountain Resorts, costs of which are mostly fixed; as well as by efficient management and revenue growth of Dining. Earnings per share were EUR 0.852.
By the end of FY 2015/16 the Board of Directors expects to meet the financial plan of a 7.2% growth in revenues to EUR 76.0 mil. and a 2.4% EBITDA growth to reach EUR 25.0 mil. TMR’s results till the end of FY 2015/16, i.e. till 31 October 2016, will be impacted by the summer season in the mountain resorts, leisure parks, TMR hotels, as well as in ancillary services.
For more detailed results visit http://tmr.sk/investor-relations/financial-information/.
Tatry mountain resorts, a.s. (TMR) is the leader in tourism in Central and Eastern Europe; it owns and operates attractive mountain resorts, leisure parks, dining facilities, sports services and stores, 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 Fun Park, and 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 indirectly owns a 9.5% share 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), a 75% share in Silesian Amusement Park (Śląskie Wesołe Miasteczko), and a 7.3% share in a learnthrough-fun project via the Polish company Korona Ziemi Sp. z o.o. TMR also owns and leases hotels Kosodrevina, Liptov and Ski&Fun Záhradky a Bungalovy to third parties. By the end of 2015 EUR 206 mil. had been invested into development and modernization of TMR’s resorts. TMR shares are traded on three European stock exchanges – in Bratislava, Prague, and Warsaw.