Host Property AB - Market update - Historic challenging times for the company and hotel industry in general
With reference to the investor presentation on Friday February 28, 2020 and recent reported development for Maribel AS (2018 annual report), here is an update from Host Property AB regarding the status regarding the main tenant.
Bond investor update
Highlights 4Q 2019
- SEK 500 million bond issue in November
- Host Billingehus part of Host Property as of December 9
- Skøvde Municipality shoving strong support of the Billingehus development in December
- Start of SEK 180 million investment program. Billingehus, Sundsvall and Karlskrona main investment targets
- 6% growth in REVPAR for Host Property for 2019 (vs. 2018)
- Bond listed on the First North Bond Market - Nasdaq (Stockholm) in January 2020
Correction: Host Property AB - Invitation to 4Q2019 Results Presentation - Teleconference 28. February at 09:00
The correct date for the presentation is the 28th of February, not the 29th of February as previously announced.
Financial results for 1 January to 31 December 2019:
- Revenues amounted to 57.8 MSEK (55.4)
- EBITDA amounted to 45.3 MSEK (45.1)
- EBT amounted to 18.4 MSEK (17.1)
- Net profit amounted to 18.4 MSEK (15.7)
- Total equity amounted to 325.7 MSEK (290.1)
On 28 November 2019, Host Property AB (publ) (the "Company") issued senior secured and guaranteed floating rate bonds in the amount of SEK 500,000,000. The bonds carry an interest rate of STIBOR 3 months plus 6.50 per cent per annum and the maturity date is 28 November 2022.