TMR, the biggest player in tourism in the Tatras and in Slovakia and a top operator of mountain resorts in Central Europe, concluded the first half of financial year 2012/13 with growth in consolidated revenues of 28.2% to reach EUR 32.5 million in comparing with the same period last year. Earnings before interest, taxes, depreciation, and amortization (EBITDA) reached EUR 12.1 million with growth of 53.6% year-over-year, whilst consolidated net profit in the amount of EUR 7.1 million or EUR 1.06 per share was 15% higher.
“TMR has completed another successful winter season. For the last six months we are evaluating the first results of our complex project of interconnection of both sides of Chopok in the resort Jasná Nízke Tatry with three new cableways. Therefore, transport capacity in Jasna increased to 30 500 persons per hour and in the last season the number of our visitors rose by 26.3%. Also, we launched the second phase of the project Tropical Paradise in Tatralandia with guarantee of tropical weather. Partly due to this fact, the number of visitors to Tatralandia increased by 23%. These projects as well as other investments of prior years in total of EUR 144 million into development of the resorts, hotels and services in the High and Low Tatras keep attracting more visitors and help the Company grow. I trust that the results of our investment strategy will continue to be reflected in the financial statements of future periods,” Bohuš Hlavatý, Chairman of the Board of Directors and CEO of TMR, commented on the results.
The main segment of Mountains & Leisure improved its revenues by 33.4% to EUR 24.5 million with the most notable improvement in the subsegments of Dining (+60.3%) and Sports Services & Stores under the Tatry Motion brand (+42.8%).
Aquapark improved its revenues by 41.5%. The total number of visitors in the mountain resorts for the last winter reached 952 thousand (+14%). Also thanks to synergies with the mountain resorts and attractive stay packages the Hotels segment recorded a revenue growth of 14.2% to EUR 7.9 million with average daily rate in the hotels 17% higher.
The EBITDA increase of 53.6% like-for-like can be attributable mainly to the mountain resorts operation, where this indicator improved by EUR 2.3 million. Dining EBITDA improved by 133%. Even despite the launch of new cableways and equipment in Tatralandia into operation, operating profitability (EBITDA margin) of the Group improved by 6.2 percentage points to 37.3%, while Mountain Resorts’ EBITDA margin reached 47.6%. Operating profit (EBIT) increased year-over-year by 72% to EUR 7.3 million.
Till the end of financial year 2012/13 management plans to continue with investments into development of the resorts and hotels with the budget of EUR 45 million. The replacement of the cableway Štart – Skalnaté pleso in Tatranská Lomnica will be the key investment. The old cableway will be replaced by a 15-person gondola, the same as at Chopok South. Inter alia, in the resorts Vysoké Tatry and Jasná Nízke Tatry trails will be adjusted, snowmaking extended, and dining joints on the slope will be added. At the Chopok’s peak in Jasna the iconic viewpoint restaurant Rotunda will be renovated.
More detailed results are available at http://www.tmr.sk/en/investor-relations/financial-reports/latest-financial-reports/.
Spoločnosť Tatry mountain resorts, a.s. je top subjektom v oblasti cestovného ruchu v Strednej a Východnej Európe, ktorý sám alebo prostredníctvom dcérskych spoločností vlastní a prevádzkuje atraktívne lyžiarske strediská a hotely v oblasti Nízkych a Vysokých Tatier. Patria sem strediská Jasná Nízke Tatry a hotely Wellness hotel Grand Jasná, Tri studničky, Chalets Záhradky De Luxe a hotel Srdiečko, vo Vysokých Tatrách spoločnosť TMR vlastní a prevádzkuje strediská Tatranská Lomnica, Starý Smokovec a hotely Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec a Hotel FIS Štrbské Pleso. TMR tiež spoluprevádzkuje stredisko Štrbské Pleso a od zimnej sezóny 2012/2013 si prenajíma v spolupráci so spoločnosťou SMMR, a.s. aj horské stredisko Špindlerov Mlyn v ČR. TMR je zároveň vlastníkom Tatralandie. Ide o najväčší slovenský aquapark s celoročnou prevádzkou, ktorý ponúka okrem vodnej zábavy aj zábavu vo Fun Parku, relax v špeciálnej tropickej hale s morskou vodou, ako aj ubytovanie v bungalovoch a apartmánoch Holiday Village Tatralandia. TMR tiež vlastní hotely a prenajíma hotely Kosodrevina, Liptov a Ski&Fun Záhradky a Bungalovy. Do konca roka 2012 sa preinvestovalo do uvedených stredísk vyše 144 mil. €, tieto investície prispievajú k zvýšeniu štandardu a návštevnosti Tatier. Akcie TMR sú od roku 2012 obchodované na troch európskych burzách v Bratislave, Prahe a vo Varšave.
1 Adjusted operating results for 1H 2011/12 include 100% results of Grandhotel Starý Smokovec, owned by Interhouse Tatry, s.r.o. According to IFRS, this 50% share for the period was reported using the equity method.