14.03.2014 Design Hotels AG  DE0005141006

DGAP-News: Design Hotels AG publishes Annual Results 2013


 
DGAP-News: Design Hotels AG / Key word(s): Final Results Design Hotels AG publishes Annual Results 2013 14.03.2014 / 08:30 --------------------------------------------------------------------- Design Hotels AG publishes Annual Results 2013 - Revenue increases by 9% to Euro 13.752 MM - EBITDA increases by 366% to Euro 1.434 MM Berlin, March 14, 2014 - Design Hotels AG (m:access, Munich: LBA; ISIN: DE0005141006) publishes results for the financial year 2013. Revenue increased by about 9 % and is slightly below the expectations presented in the beginning of the year. The operational result exceeded expectations by far and could be increased by 366% compared to the previous year. Key Financials: Total Revenue increased by 9% to Euro 13,752 MM (12,629) in the financial year 2013. Revenue from License Fees for membership with Design Hotels increased by 4% compared to the previous year to Euro 3.245 MM (3.118). This contributes 24% to total revenue compared to 25% in 2012. On December 31, 2013 Design Hotels had 268 (249) member hotels in its portfolio with 20,372 (18,949) rooms in 170 destinations and 54 countries. Booking commissions came in at Euro 6.465 MM (5.675) in 2013, which means a 14% increase compared to the previous year. Commissions accounted for 47% (45) of the total revenue. Revenue from Marketing and Consulting Services increased by 14% this year and reached Euro 4.042 MM (3.836). It accounts for 29% (30) of total revenue. The Gross Margin is above last year's level and came in at 69% (65%). Gross Revenue was Euro 9.486 MM (8.161), which is an increase of 16% compared to the previous year. The increase is disproportionally higher compared to the increase of total revenue. This is due to the higher share of the high-margin booking commissions in total revenue. The average number of employees increased from 78 to 83. Therefore, Staff Expenses grew from Euro 4.948 MM to Euro 5.426 MM. At the same time, Revenue per Employee went up from Euro 0.161 MM to Euro 0.166 MM. The increase of staff was necessary to manage the growing business from the increasing number of member hotels as well as the intensified customer service. Selling Expenses came in at Euro 1.369 MM (1.088). They are directly related to the revenue development and amounted for 10% (9). Other Operating Expenses increased slightly to Euro 1.220 MM (1.170). EBITDA increased by about 366% to Euro 1.434 MM (308.000) in 2013. After the company had to note down losses in 2012 due to unforeseen bad debt losses, the operational results increased substantially again this year. The EBITDA margin was 10% (2%). EBIT reached Euro 1.182 MM (10,000) in 2013. Net Profit came in at Euro 1.198 MM (49,000), which is a significant increase of 2,345%. In 2012, the Company had to write off the deferred tax assets on losses carried forward. Subsequently, the company had recorded a consolidated net loss of Euro 1.252 MM. This year, Design Hotels was able to achieve a consolidated net profit of Euro 834.000. On December 31, 2013, the Company had cash and cash equivalents in the amount of Euro 4.407 MM, as compared to Euro 4.002 MM on December 31, 2012. Shareholders' equity increased from Euro 4.293 MM to Euro 5.118 MM. The equity ratio amounts to 66% (59%). Further comments: The worldwide tourism sector developed positively in 2013. Therefore, also the international hotel industry looks back on an overall successful year. Occupancy as well as average daily rates increased compared to the previous year. Design Hotels was once more able to profit from these developments. CEO Claus Sendlinger comments: 'We are content with the development of the company and the year-end results. We were able to increase revenue in the three main business areas, even though the growth rate was slightly below our expectations. However, we managed to increase operational results significantly due to the above-average development of high margin revenue streams as well as efficient cost savings. For 2014, we also anticipate an increase in total revenue as well as operational results.' Financial Calendar: July 22, 2014 - Investor Presentation at m:access Conference in Munich TBC, 2014 - 16th Annual Shareholder Meeting in Berlin August 1, 2014 - Publication of Half Year Results 2014 Group Overview According to HGB Consolidated Profit & Loss Statement (all figures in Thousand Euro) Revenue Total as per Total as per 31. December 31. December 2013 2012 Annual License Fee 3.245 3.118 Commissions 6.465 5.675 Marketing Products/Consulting 4.042 3.836 Total Revenue 13.752 12.629 Cost of Sales 4.266 4.468 Gross Profit 9.486 8.161 Staff Expenses 5.426 4.948 Selling Expenses 1.369 1.088 Administration Expenses 1.220 1.170 Total Operating Expenses 8.016 7.206 Other Operating Income 328 170 Other Operating Expenses 365 817 EBITDA 1.434 308 EBIT 1.182 10 EBT 1.198 49 After-Tax Profit 834 -1.252 Average Number of Employees 83 78 Revenue per Employee 166 161 Consolidated Statement of Cash Flow (all figures in Thousand Euro) As per December 31 As per December 31 2013 2012 EBITDA from 1.434 308 Profit and Loss Statement Cash flow from investment activities -503 -349 Balance Trade Payables -526 503 vs. Trade Receivables Change in securities portfolio 0 0 Change in cash 405 462 and cash equivalents Cash and cash equivalents 4.002 3.540 at start of period Cash and cash equivalents 4.407 4.002 at end of period Guarantees 52 55 Cash and cash equivalents 4.355 3.947 Consolidated Balance Sheet 31.12.2013 31.12.2012 Assets EUR EUR EUR EUR Long-term assets Fixed assets 866.025 614.344 Short-term assets Inventory 216.937 113.436 Accounts Receivable 1.821.570 2.107.928 Other Assets 424.445 429.171 Liquid Funds and Securities 4.407.254 6.870.207 4.001.505 6.652.040 Total Assets 7.736.232 7.266.384 Liabilities Shareholders' equity Share Capital 8.972.072 8.972.072 Cumulative other Equity Capital -1.743.103 -1.734.324 Accumulated losses -2.110.868 5.118.102 -2.944.966 4.292.782 Short-term liabilities Accruals 1.215.297 1.054.595 Down-payments 448.777 543.798 Accounts Payable 199.314 622.600 Other liabilities 756.743 2.618.130 752.609 2.973.602 Total Liabilities 7.736.232 7.266.384 Change in Shareholder's Equity (all figures in Thousand Euro) Loss Directly in Shareholders' equity Share carried included proceeds, charges, Capital forward profit and loss Total As of 8.972 -1.693 -1.726 5.553 1.1.2012 Group -1.252 -1.252 annual loss Other -8 -8 consolid- ated results Total -1.252 -8 -1.260 result As of 8.972 -2.945 -1.734 4.293 31.12.2012 As of 8.972 -2.945 -1.734 4.293 1.1.2013 Group 834 834 annual profit Other -9 -9 consolid- ated results Total 834 -9 825 As per 8.972 -2.111 -1.734 5.118 31.12.2013 Contact: Design Hotels AG Sascha Wolff (Chief Financial Officer) Stralauer Allee 2c 10245 Berlin Tel. +49 (0)30 88 494 00 14 Fax +49 (0)30 25 933 01 7 [email protected] About Design Hotels(TM) Design Hotels(TM) represents and markets a curated selection of more than 260 independent hotels in over 50 countries across the globe. More than a collection of hotels, the company is a collection of stories. Each property reflects the ideas of a visionary hotelier, an Original, someone with a passion for genuine hospitality, cultural authenticity, thought-provoking design and architecture. Each "Original" stands for the individual, aesthetic and service-driven experience that his or her hotel provides.

Founded by Claus Sendlinger in 1993, Design Hotels(TM) offers its members insightful travel industry knowledge, from market trend consultancy to international sales representation. The company has its headquarters in Berlin and branches in London, Barcelona, New York, Singapore and Perth. www.designhotels.com, ISIN : DE0005141006, m:access Munich Stock Exchange (Regulated Unofficial Market) End of Corporate News --------------------------------------------------------------------- 14.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- 257455 14.03.2014


Die wichtigsten Finanzdaten auf einen Blick
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Umsatzerlöse1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA1,2 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBITDA-Marge3 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT1,4 0,00 0,00 0,00 0,00 0,00 0,00 0,00
EBIT-Marge5 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Jahresüberschuss1 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Netto-Marge6 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Cashflow1,7 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Ergebnis je Aktie8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Dividende8 0,00 0,00 0,00 0,00 0,00 0,00 0,00
Quelle: boersengefluester.de und Firmenangaben

1 in Mio. Euro; 2 EBITDA = Ergebnis vor Zinsen, Steuern und Abschreibungen; 3 EBITDA in Relation zum Umsatz; 4 EBIT = Ergebnis vor Zinsen und Steuern; 5 EBIT in Relation zum Umsatz; 6 Jahresüberschuss (-fehlbetrag) in Relation zum Umsatz; 7 Cashflow aus der gewöhnlichen Geschäftstätigkeit; 8 in Euro; Quelle: boersengefluester.de

Wirtschaftsprüfer:

INVESTOR-INFORMATIONEN
©boersengefluester.de
WKN Kurs in € Einschätzung Börsenwert in Mio. €
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KGV 2022e KGV 10Y-Ø BGFL-Ratio Shiller-KGV
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Dividende '19 in € Dividende '20e in € Div.-Rendite '20e
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0,00 0,00 0,00
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Abstand 60Tage-Linie Abstand 200Tage-Linie Performance YtD Performance 52 Wochen
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Touristik , 514100 , LBA , -