MANTRA GROUP ANNOUNCES RESULTS FOR THE HALF YEAR ENDED 31 DECEMBER 2014
Statutory total revenue of $252.7m, was up 9.4% on H1FY2014
Statutory NPAT was $21.8m, higher than statutory NPAT for H1FY2014 of ($1.6m)
EBITDAI of $42.2m, up 17.5% on the same period last year
NPATA of $23.1m, up 19.1% on the same period last year
Basic EPS of 8.7 cents per share, compared to (9.1) cents per share for H1FY2014
Fully franked interim dividend of 5 cents per share to be paid on 31 March 2015 in line with prospectus
Reconfirm Prospectus FY2015 forecasts
Strong pipeline of development opportunities
5 hotels joined the network in H1FY2015 and 1 has joined in January 2015
Mantra Group Limited (Mantra Group) today announced its results for the half year ended 31 December 2014. Mantra Group Chief Executive Officer Bob East said, “I am pleased to report that for the half year ended 31 December 2014, the Group performed strongly in terms of revenue, profitability and cash flow. The Group delivered total revenue of $252.7 million representing a 9.4% increase on H1FY2014. This result reflects improved occupancy levels and average room rates as well as a focus by Management on cost control and improved efficiencies in key areas of the business. The Group is in a good financial position with total assets of $545 million, net assets of $279 million and a strong cash flow, and is well placed to deliver shareholder value in FY2015.”
The Group achieved period-on-period growth in each of its operating segments:
CBD delivered revenue of $136.4 million and EBITDAI of $25.1 million representing a period-on-period increase in revenue of $16.2m, $12.1m of which was from new properties. Among other factors, strong conference and corporate demand in Melbourne, Adelaide and Darwin and the G20 in Brisbane drove corporate demand resulting in increased occupancy levels.
Resorts delivered revenue of $95.1 million and EBITDAI of $15.0 million representing increases on H1FY2014 of 3.6% and 4.9% respectively. This sector benefitted from growth in both domestic and international visitors, with occupancy increasing by 5.4% period on period.
Central Revenue and Distribution (CRD) delivered revenue of $20.1 million and EBITDAI of $15.8 million representing increases on H1FY2014 of 21.1% and 20.6% respectively. Fees from new properties under management coupled with an increase in online booking volumes through centralised channels contributed to this solid performance.
As indicated at the time of the IPO the Board has approved payment of a fully franked dividend of 5 cents per share for the period to 31 December 2014. Dividends will be paid on 31 March 2015.
Between July and December 2014 Mantra Group added five new hotels to its network – three in Brisbane; one in Canberra and one in Sydney. A dual branded property was added in Melbourne in January 2015. Property Pipeline is strong with two Tasmanian properties and one Christchurch property scheduled to join the Group in April 2015. Further new properties are expected to enter the portfolio over the next twelve months with future new build developments awaiting construction.
Strategy and FY2015 Outlook
Mr East said that Mantra Group is committed to driving growth and delivering shareholder value in FY2015 and beyond.
“We reaffirm our prospectus forecast results for FY2015. Seasonality means approximately over 60% of FY15 EBITDAI and over 64% FY15 NPATA per prospectus has been earned in the period which makes Mantra Group on target to meet its overall prospectus forecast for FY15,” said Mr East.
“Based on the Group’s earning capability and strong cash flow position, Mr East said that the Mantra Group is well placed to take advantage of growth opportunities and deliver year-on-year shareholder value.”
“We continue to strengthen our platforms and we are taking advantage of leading distribution capabilities and brand appeal. These factors are also aiding our development team as they continue to sign new properties into the portfolio”.
Further information can be obtained from the Mantra Group Half Year Results presentation. ASX code: MTR
ABOUT MANTRA GROUP
Mantra Group is a leading manager and marketer of hotels and resorts in Australia, New Zealand and Indonesia and operates three well-known and trusted brands – Peppers, Mantra and BreakFree. With 116 properties and over 12,500 rooms under management, Mantra Group is the second largest accommodation operator in Australia. The Group is positioned to offer both leisure and business style accommodation ranging from full service city hotels and self-contained apartments to luxury resorts and retreats: www.mantragroup.com.au; www.peppers.com.au; www.mantra.com.au; www.breakfree.com