4 travnja 2017

Financial overview

2017

2017 was a record year as we continued to transform the Group in line with our strategy, whilst delivering a strong operational performance across the business. We are proud of the significant progress we have made in achieving our key business priorities of driving growth through expansion of our portfolio in the  CEE region whilst maintaining operational efficiency and a high EBITDA margin.

 Total reported revenue increased by 64.5% to HRK 717.2 million (2016: HRK 435.9 million), as the Group benefited from the first-time consolidation of results from our German and Hungarian operations and significant organic growth across our Croatian operations. On a like-for-like basis, total revenue increased by 8.5% to HRK 669.6 million (2016: HRK  616.9 million). Reported earning before interest, tax, depreciation and amortization (EBITDA) increased by 61.3% to HRK 212.9 million (2016: HRK 132.0 million). This HRK 80.9 million improvement was primarily driven by the first-time consolidation of our German and Hungarian operations, as well as excellent trading throughout the 2017 season in Croatia. The strong financial results represent the seventh year of consecutive EBITDA and revenue growth.

2016

Arena Hospitality Group’s trading performance again improved year-on-year, with Arena Hospitality Group’s total revenue, room revenue, EBITDAR and EBITDA all increasing. All this, when put in a three-year perspective, demonstrates positive trends which is in line with our development strategy of focusing on raising the quality of both accommodation and services.

Total revenue in 2016 increased by 8.2% to HRK 435.9 million (2015: HRK 402.8 million), while room revenue increased by 7.3% to HRK 353.6 million (2015: HRK 329.6 million). Hotels generated 47.0% of room revenues, resorts 21.4% and campsites 31.6%.

Earnings before interest, tax, depreciation, amortisation and rental expenses (EBITDAR) increased by HRK 15.1 million to HRK 140.8 million (2015: HRK 125.7 million) which represents growth of 12%. Earnings before interest, tax, depreciation and amortisation (EBITDA) increased by 12.9% to HRK 132.0 million (2015: HRK 116.9 million).

In 2016, the share of EBITDA in total revenues was 30.3% which is a year-on-year improvement of 130 bps (2015: 29.0%).