Presentation of preliminary financial results of fiscal year 2010/2011

Transcription

1 Presentation of preliminary financial results of fiscal year 2010/2011 Period from November 1, 2010 to October 31, 2011 Published on January 24, 2012

2 Historically the most successful year 2010/2011 Consolidated revenues increased by 59% to EUR 38,8 mil. Consolidated net profit increased by 60% to EUR 9,2 mil. Earnings per share amounted to EUR 1,37 TMR shares the most traded title on Bratislava Stock Exchange in 2010 and 2011 Number of visitors increased by 63% to 1,7 mil., like-for-like increase* by 20,5% to 1,2 mil. Excellent results thanks to: Completed investments EUR 26 mil. in 2009/2010 Acquisition of aqua park Tatralandia Maximum use of synergies (e.g. marketing), investments and know-how of management Constant active customer relations successful marketing campaign Implementing innovative and creative product deals Eliminating the impact of adverse weather More intense cooperation with Štrbské Pleso 2 * Like-for-like performance indicators and results do not include the impact of the acquisition of Tatralandia in April 2011.

3 Impact of investments on results in 2010/ seat cableway Vysoké Tatry Happy End Jasná Tatry motion Grand Jet Jasná Nízke Tatry Orange 6-seat cableway in Jasná Nízke Tatry 3

4 Significant events FY 2010/ Acquisition of Tatralandia Purchase price EUR 30,5 mil. ( the aqua park and 156 bungalows Holiday Village Tatralandia) The biggest aqua park in Central Europe offers: 8 year-round swimming pools 3 summer-swimming pools 16 saunas and wellness congress center 5D cinema, golf trainer etc Revenues in the amount of EUR 7,8 mil. from entries, restaurants and hotel (from April to October 2011) 437 thous. visitors (since April 2011)

5 Visit rate FY 2010/2011 Total number of visitors in Mountains & Leisure segment 1,7 mil. Total increase by 63%; by 20,5% in mountain resorts only (to 1,2 mil.) High Tatras Jasná Low Tatras Tatralandia Increase by 26,3% to 738 thous. Increase by 13% to 500 thous. Solid number of visitors 437 thous. Visitors - Jasná Nízke Tatry 5% 3% 2% 2% 1% Slovakia Poland 8% 47% Czech Rep. Other 32% Russia Ukraine Latvia Belarus 1% Visitors - Tatranská Lomnica 2% 9% 5% Slovakia Poland 25% 57% Czech Rep. Ukraine+Russia Other Baltic 5

6 Thous. Summary of financial results of FY 2010/2011 Operational highlights: Double-digit percentage increases Y-o-y increase of total operational revenues by 53,4% to EUR 39,9 mil.; (like-for-like increase by 23,6% to EUR 32,2 mil. *) Earnings before interests, taxes, depreciation and amortization (EBITDA) increased by 72,7% to EUR 11,5 mil., (like-for-like increase by 17,4% to EUR 7,8 mil. *) Operational profitability (EBITDA margin) improved by 3,2% to 28,9%, (like-for-like decrease by 1,3 p.p. to 24,4%*) Operating performance TMR - comparison in EUR thous. y-o-y Consolidated results: Revenues of EUR 38,8 mil., net income of EUR 9,2 mil., EPS of EUR 1, / /2011 Revenues EBITDA 6 * Like-for-like performance indicators and results do not include the impact of the acquisition of Tatralandia in April 2011.

7 Thous. Operating revenues of FY 2010/2011 by segments Mountains & Leisure The highest increase among segments +61,4% to EUR 28,1 mil.; (like-for-like increase by +22,5% to EUR 21,3 mil. *) Hotels Real Estate Solid increase by 41% to EUR 11,7 mil.; (likefor-like increase +29% to EUR 10,7 mil. *) Revenues by major segments 2010/ Revenues breakdown Hotels 29,4% Real Estate 0,3% Mountains & Leisure Hotels Real Estate Mountains & Leisure 70,3% / /2011 Mountains & Leisure Hotels 7 * Like-for-like performance indicators and results do not include the impact of the acquisition of Tatralandia in April 2011.

8 Thous. Earnings before interest, taxes, depreciation and amortization (EBITDA) by segments Equally solid growth in both major segments EBITDA of major segments 2010/2011 Mountains&Leisure Increase by 77% to EUR 8,8 mil.; (like-for-like increase +7,5% to EUR 5,3 mil. *) Hotels Increase by 78% to EUR 2,8 mil.; (like-for-like increase +61,7% to EUR 2,5 mil. *) / /2011 Mountains & Leisure Hotels 8 * Like-for-like performance indicators and results do not include the impact of the acquisition of Tatralandia in April 2011.

9 Outlook FY 2011/2012 Positive outlook based on the successful start of winter season and confirmed right long-term strategy Influenced by: Investments realized in 2010/2011 in the amount of EUR 29,6 mil. Expansion of bed capacity (hotels Slovakia, FIS) and investments into the hotels Marketing support (besides a usually strong campaign in Slovakia, a more intense campaign on the Polish market) Synergies with aqua park Leading position in tourism in the region 9

10 New investments with impact on results of FY 2011/2012 Investments realized in 2010/2011 in the amount of EUR 29,6 mil. Investment highlights: 8-seat cableway Buková Hora in the High Tatras increased capacity by skiers per hour Extended snowmaking coverage by 3 km in the High Tatras Launch of building of Funitel in the Low Tatras completion planned for 2012 Extended parking in the High and Low Tatras by 700 places Hotels renovation (60 new rooms in Grand Jasná and GH Praha, Tatranská Lomnica and wellness in GH Praha) Total amount of CAPEX in the last five years as of the end of 2011 amounts to EUR 100 mil. and additional EUR 56 mil. planned till

11 Investments realized in 2010/ seat cableway Buková hora Funitel link between Chopok North and South Renovated room in hotel Grand Jasná New wellness Grandhotel Praha Tatranská Lomnica 11

12 Short-term strategy for 2011/2012 Short-term strategic goals: Completion of Funitel and building of a new cableway, which will link the North and South sides of Chopok mountain Expansion of snowmaking Continued renovation of hotels as a reaction to demand Acquisition activities Polish railways, ski resorts in the Czech republic Dual listing on exchanges in the region (Warsaw and Prague) Focus on more affluent clients via real estate projects sale of Grand Residences Tatranská Lomnica, jump start the development of Tatranská Lomnica Center project 12

13 Successful start of new winter season (November and December 2011) Preliminary results: Growth trend and potentially the most successful winter season in TMR s history Subsegment Mountain resorts revenues of EUR 2 mil., y-o-y increase of 15% Vysoké Tatry revenues of EUR 890 thous., increase of 25% Jasná Nízke Tatry revenues of EUR 1,09 mil., increase of 8% Revenues in mountain resorts - November and December % +25% 2010/ /2012 Jasná Nízke Tatry Vysoké Tatry Visit rate: Segment Mountain resorts 250 thous. visitors, y-o-y increase of 9% Vysoké Tatry 65 thous. visitors, increase of17% Jasná Nizke Tatry 185 thous. visitors, increase of 6,2% Change in revenues and visit rate y-o-y- November and December 2011 Total Jasná Nízke Tatry Vysoké Tatry Visit rate Revenues 0,0% 5,0% 10,0% 15,0% 20,0% 25,0% 30,0% 13

14 Q&A 14

15 Appendix 15

16 Investments of 2010/2011 Vysoké Tatry 1. 8-seat cableway Buková hora capacity extension by persons per hour 2. Extended technical snowmaking and ski trails by 3 km 3. Extended hotel capacity by 27 rooms and 6 apartments and renovation of wellness in Grandhotel PRAHA Tatranská Lomnica. 4. Completion of annex building of Grandhotel Praha with 15 new rooms with fireplace Grand residences Tatranská Lomnica 5. New store Tatry motion at Štrbské Pleso 6. Extension of Štart restaurant in Tatranská Lomnica new parking places Nízke Tatry 1. Aqua park new toboggan TRIO 2. Extended technical snowmaking up to 1843 m a.s.l., total of 20 km ski trails with snowmaking coverage 3. Launch of building of Funitel in the Low Tatras, to be finished in New après ski bar near to Music club Happy End 5. New store Tatry Motion near to Hotel Grand Jasná and new store Intersport in Záhradky modern shopping zone with brand clothes and accessories in the total area of 1565 m2 6. Renovation of 27 rooms in Hotel Grand Jasná 7. Extended parking nearby Hotel Grand Jasná new parking places 9. Extended area of kindergarten Maxiland in Jasná to 6,000 m2 16

17 Key operational results (non-audited) Revenues in'000 EUR* 2010/ /2010 YOY change (%) Mountains & Leisure ,4% Mountain Resorts ,5% Aquapark NA NA Dining ,5% Sport Services & Stores ,0% Hotels ,9% Real Estate ,7% Total Revenues (operational) ,4% EBITDA in '000 EUR 2010/ /2010 YOY change (%) Mountains & Leisure ,0% Mountain Resorts ,1% Aquapark NA NA Dining ,5% Sport Services & Stores ,3% Hotels ,9% Real Estate ,2% Total EBITDA ,7% EBITDA MARGIN 28,9% 25,7% 3,2% 17 * The adjusted operational results include 100% of the results of Grandhotel Starý Smokovec, which, as per IFRS, is accounted for by the Equity method; the results exclude the influence of a provision created in connection to revitalization of Vysoké Tatry in the amt of EUR 480 thous. ** Aquapark Tatralandia has been under TMR s management only since April 2011; included results are reported for the period of 7 months from to

18 Selected consolidated relusts and financial statements (non-audited) in '000 EUR 2010/ /2010 YOY change (%) Revenues ,2% EBITDA ,2% EBITDA margin 31,5% 27,3% 15,7% Depreciation and Amortization NA EBIT NA Financial Income/Expense, net ,7% Income Taxes NA Net Income ,7% Shares outstanding ,0% Earnings Per Share 1,37 0,86 59,7% in '000 EUR Assets Total Non-current Assets Total Current Assets Equity Liabilities Total Non-current Liabilities Total Current Liabilities Total Debt Total Equity and Liabilities

19 Disclaimer This material is exclusively for informational and promotional purposes. Its intention is to inform about the business strategy of the company Tatry mountain resorts, a.s., with its registered office at Demänovská Dolina 72, Liptovský Mikuláš , Identifications Number: , registered in the Commercial Registry of District Court of Ţilina, Section: Sa, Insertion No. 62/L (hereinafter referred to as the TMR Company ). TMR Company shares are traded at the parallel market of stock-exchange listed securities. The company s share capital consists of bearer shares booked on the bearer with a nominal value of 33 per stock. Emission has been allocated ISIN SK In order to make the above emission public at the parallel market of stock-exchange listed securities, there was an elaborated prospectus for the securities of share emissions, ISIN SK , as of October 10, The prospectus is published on the following website of the parallel market on Bratislava Stock Exchange: and on the website of the TMR Company Information contained in this material is not based on historical data, but contains forecasts for future performance. Predictions are based on rational expectations supported by objective data. Predictions are not reliable indicators of future performance and they are not binding. The TMR Company is not liable for any of the above predictions. Future figures of the TMR Company can differ from predictions given in this presentation. This material is owned exclusively by the TMR Company. Any distribution, duplication, publishing, copy or record of this information, or any part of it contained in this material is forbidden without the prior approval by the TMR Company. Any distribution of this presentation or any part of it beyond the territory of the Slovak Republic can be either restricted, or prohibited by law order of the third state. 19