4/11/2014 – Expansion
The NH Hotel Group’s profits slowly creep up. In the third quarter of 2014, the chain earned €320.6 million (3% more) and established its Ebitda at €33.5 million, sending it 16.2% up. NH gained €400.000, contrasting with the €10.4 million amount lost in Q3 2013.
Year-to-date, though, the profit and loss accounts stay in the red. From January to September, NH quadruplied the loss (€42.4 million) but the figure does not take into consideration the €225 million amount obtained from the sale of Sotogrande, the chain’s real estate firm. This transaction will be included in the fourth quarter calculations.
By September, sales remained stable and oscillated around €935 million with Ebitda 2.9% down to €79.3 million.
Advancing in its portfolio renovation, the hotel group put emphasis on the increased sales on the Spanish market which rewarded it with 7.4% better performance and recurrent Ebitda skyrocketing from €2.67 million to €6.65 million.
At theend of the year, NH hopes to raise the earnings by 10-15%. As per September 30th, the group’s net debt showed €756.6 million, 4.3% more quarter-on-quarter.
Original article: Expansión (by Y. Blanco)
Translation: AURA REE