Sustained good growth and profitability

Quarter April – June 2017

  • Revenue from Property Management amounted to MSEK 568 (464). Adjusted for currency effects and comparable units, the increase was 3 percent.
  • Net operating income from Property Management amounted to MSEK 485 (398). Adjusted for currency effects and comparable units, the increase was 2 percent.
  • Net operating income from Operator Activities amounted to MSEK 139 (125). Adjusted for currency effects and comparable units, the increase was 29 percent.
  • EBITDA amounted to MSEK 594 (491).
  • Profit for the period amounted to MSEK 887 (474).
  • Cash earnings amounted to MSEK 425 (354).
  • Earnings per share amounted to SEK 5.61 (3.14)

Period January – June 2017

  • Revenue from Property Management amounted to MSEK 1,042 (850). Adjusted for currency effects and comparable units, the increase was 6 percent.
  • Net operating income from Property Management amounted to MSEK 881 (718). Adjusted for currency effects and comparable units, the increase was 5 percent.
  • Net operating income from Operator Activities amounted to MSEK 221 (179). Adjusted for currency effects and comparable units, the increase was 21 percent.
  • EBITDA amounted to MSEK 1,044 (841).
  • Profit for the period amounted to MSEK 1,414 (850).
  • Cash earnings amounted to MSEK 715 (589).
  • Earnings per share amounted to SEK 8.92 (5.63).
  • EPRA NAV per share amounted to SEK 132.55 (114.03).

Significant events during the period

  • Pandox reclassifies seven hotel properties in the Nordics to Property Management in the second quarter.
  • Pandox concludes the acquisition of Hotel Berlaymont in Brussels for the equivalent of around MSEK 324 in May.

Attachment: Interim report January – June 2017

FOR FURTHER INFORMATION, PLEASE CONTACT:
Anders Nissen, CEO, +46 (0) 708 46 02 02
Liia Nõu, CFO, +46 (0) 702 37 44 04
Anders Berg, Director of Communications and IR, +46 (0) 760 95 19 40

This information is information that Pandox AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 07:00 CEST on 13 July 2017.

About Pandox
Pandox is a leading owner of hotel properties in Northern Europe with a focus on sizeable hotels in key leisure and corporate destinations. Pandox’s hotel property portfolio currently comprises 121 hotels with more than 26,000 hotel rooms in ten countries. Pandox’s business is organised into Property management, which comprises hotel properties leased on a long-term basis to market leading regional hotel operators and leading international hotel operators, and Operator activities, which comprises hotel operations executed by Pandox in its owner-occupied hotel properties. Pandox was founded in 1995 and the company’s B shares are listed on Nasdaq Stockholm. www.pandox.se