The Consolidated turnover of Hyatt Regency Hotels and Tourism (Hellas) SA Group for the first six months…
The Consolidated turnover of Hyatt Regency Hotels and Tourism (Hellas) SA Group for the first six months of 2004 (1.1.2004 – 30.6.2004) increased by 44,15% amounting to 146,5 Million Euro, compared to 101,6 Million Euro for the equivalent period of 2003. The net pretax profits of the Group for this period amount to 42,8 Million Euro and after subtracting minority rights of 9,2 Million Euro, the consolidated pretax profits amount to 33,6 Million Euro; an increase of 9,2% over the same period last year. The EBITDA for the first six months of 2004 amounts to 51,9 Million Euro increased by 35,1% in comparison with the respective period of 2003 and the EBITDA margin amount to 35,4%.
The turnover of Hyatt Regency Hotels and Tourism (Hellas) SA for the first six months of 2004 increased by 2,15% and amounts to 89,5 Million Euro, compared to 87,6 Million Euro in 2003. The EBITDA for the first six months of 2004 amounts to 35,8 Million Euro, showing an increase of 2,63 % in comparison with the respective period of 2003, while EBITDA margin amount is 40,1%. The net pretax profits of the company for the first six months of 2004 amount to 29,3 Million Euro compared to 30,1 Million Euro in 2003.
The consolidated results of the Group include the company styled “Hellenic Casino Mont Parnes SA” (full consolidation), the turnover of which amounts to 61,7 Million Euro for the first six months of 2004 (1.1.2004 – 30.6.2004). Table games had a 28,4 Million Euro turnover (61,9% increase over the same period of last year), whilst slot machines had a 32,3 Million Euro turnover (a 47,7% increase over last year). Respectively, visitation to the Regency Casino Mont Parnes for the first six months of 2004 had an increase of 47,5% (330.000 persons) over the same period of 2003. It should be noted that the visitation for the whole year of 2003 stood at 470.000 persons. Finally, the first phase of the refurbishment of the Mont Parnes complex has been completed. In the coming months and following approvals and licenses the full refurbishment of the complex will take place.
Én the consolidated results of the first six months of 2004, the company “Hellenic Hotels Lampsa SA” is also included. Lampsa`s results were consolidated for the first time in 31.12.2003 (equity method).
Following a recent share capital increase of Lampsa, Hyatt Regency Hotels and Tourism (Hellas) SA controls 20,1% of its share capital. Lampsa`s turnover for the first six months of 2004 amounts to 12 Million Euro, EBITDA is 0,82 Million Euro and losses for this period of 2,4 Million Euro. As a result of the above, the Group`s consolidated balance sheet includes a loss of 0,48 Million Euro. According to the Board of Directors of Lampsa, the year 2004 is expected to be the first profitable financial year for the company, following a long track record of losses. This is due to the successful renovation of the Grande Bretagne Hotel as well as the operational results of the Hotel and the recent successful share capital increase, which was covered in full, reducing Lampsa`s banking debt by 60%.
Theodore is the Co-Founder and Managing Editor of TravelDailyNews Media Network; his responsibilities include business development and planning for TravelDailyNews long-term opportunities.
