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H.n.h. Hotels & Resorts S.p.A. approves the Annual Financial Statements and the Consolidated Financial Statements as of December 31, 2017

The general meeting of shareholders of H.n.h. Hotels & Resorts S.p.A., one of the leading independent Italian operators in the Hospitality sector, which met on Tuesday May 22, 2018, approved the Financial Statements as of December 31, 2017 and approved the consolidated financial statements as of December 31, 2017.

2017 showed considerable growth compared to 2016, despite the impossibility of drawing a like-for -like comparison due to the heterogeneous scopes of consolidation of the two fiscal years. The 2017 Financial Statement is, in fact, the first annual report recorded after the reorganization and corporate transformation of the parent company, which occurred when the private equity fund Siparex joined the Group with an investment of EUR 8.5 million, acquiring a 36.65% minority stake.

All economic and financial indicators showed a positive trend, with consolidated net profit of € 1.4 million. Consolidated turnover increased by 13.1%, from 29.8 to 33.7 million Euros, taking into account only directly managed hotels, and excluding management contracts; EBITDA stands at EUR 5.66 million and EBIT amounts to EUR 2.77 million. Pre-tax profit totals EUR 2.39 million.

As regards the balance sheet, with reference to the 2017 Consolidated Financial Statements, the current liabilities total EUR 7.78 million. Net worth, with reference to the 2017 Consolidated Financial Statements, equals EUR 10.94 million, Net Financial Position is positive, with Debts due to banks of EUR 4.57 million and Financial assets of EUR 4.7 million.

The parent company closed with a net profit of EUR 950,594.

The Group CEO, Luca Boccato, comments on the financial year just ended: "2017 was a very important year for us. The corporate reorganization has made our internal organizational structure more efficient, while the incorporation of the new stockholder has helped to strengthen the capital structure, laying the groundwork for the next expansion envisaged by our development plan. 2018 - continues the CEO - will be a year of further strengthening of economic performance and preparation of the next growth phase already in the pipeline for 2019 with the opening of two new hotels in Trieste and Rome. However, we are evaluating other transactions that will allow us to further enlarge our portfolio as early as this year, both in the business and in the leisure segments ".

Data news: 
Thursday, 24 May, 2018