Host Property AB (publ) - YTD RESULTS, 4Q2020

YTD RESULTS, 4Q2020

Host Property had revenues of 46,5 MSEK and EBITDA of 12,0 MSEK in 2020. EBITDA was 75,2 MSEK during the same period in 2019. The general market downturn due to the negative effects of COVID-19 has been the main reason for the weaker results.

Revenues (REVPAR) for the hotel sector in Sweden were down about 50% during 2020, and this was also the case for the Host Property hotels during the period.

Host Property made reservations for potential losses during the financial year, in the 3Q2020. Due to the increased governmental restrictions during the last months of 2020, the reservations for losses and write downs were increased during the 4Q 2020.

Host Property has during the 2020 financial year reserved for losses and write downs with an aggregate amount of 26.8 MSEK regarding unpaid rent in the financial report. These financial items will be evaluated again in connection with the 2020 audited financial report to be published on or before April 30, 2021.

Host Property received cash revenues and cash payments from outside the group companies (Host Property AB and Host AB) of 14.9 MSEK during the 4Q 2020.

The properties were valued at 786 MSEK at the end of December 2020 according to the external valuation. In connection with the year-end external valuation of the properties, the valuation of Karlskrona property was SEK 23 million below the reported book value. The board of directors will evaluate whether this lower valuation is the most accurate long-term valuation. Details will follow as part of the audited 2020 report.

Intercompany receivables at 52 MSEK at the end of the 4Q 2020, down from 61 MSEK in the 3Q 2020. The vast majority of the intercompany receivables is an intercompany loan from Host Property AB (creditor) to Host AB.

Host Hoteleiendom and Host Property have since the outbreak of COVID-19 taken an active stance towards cutting costs, preserve cash, put investments on hold, taking control over the hotel operating companies and working actively together with the operating reconstruction. The actions and plans going forward has put Host Property in a best possible position to handle the current and future challenges in the hotel market.

The notice to Written Procedure, which the Company intended to send to the Bondholders during the second half of January 2021 according to a press release published on 15 January 2021, is instead expected to be sent to the Bondholders during February 2021.

This is information that Host Property AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 18:45 on January 29, 2021.

Christian Fuhr, Investor Relations, Host Property AB, mob: +47 98 22 85 16, email: [email protected]


CORRECTION - NOTICE OF EXTRAORDINARY GENERAL MEETING IN HOST PROPERTY AB (PUBL)

The shareholders in Host Property AB (publ) reg. no. 556987-4158 (the "Company") are hereby convened to the extraordinary general meeting on Wednesday 5th January 2022, at 10.00 am at Nybrogatan 17, 114 39 Stockholm, Sweden.


NOTICE OF EXTRAORDINARY GENERAL MEETING IN HOST PROPERTY AB (PUBL)

The shareholders in Host Property AB (publ) reg. no. 556987-4158 (the "Company") are hereby convened to the extraordinary general meeting on Wednesday 5th January 2022, at 10.00 am at Nybrogatan 17, 114 39 Stockholm, Sweden.


Host Property AB (publ) confirms that it will make a Mandatory Prepayment of its SEK 500,000,000 bond loan with ISIN SE0013486057

We refer to the terms and conditions for the SEK 500,000,000 senior secured and guaranteed floating rate bonds with ISIN SE0013486057 originally dated 26 November 2019, as amended and restated on 26 March 2021 (the "Terms and Conditions") with Host Property AB (publ) as the issuer (the "Issuer"). Terms defined in the Terms and Conditions shall have the same meaning when used in this letter, unless otherwise defined herein.


Invitation to 3Q2021 Results Presentation

Investor update call


CONDITIONAL NOTICE OF MANDATORY PREPAYMENT DUE TO A PERMITTED PARTIAL DIVESTMENT

We refer to the SEK 500,000,000 senior secured and guaranteed floating rate bonds with ISIN SE0013486057 originally dated 26 November 2019, as amended and restated on 26 March 2021 (the "Terms and Conditions") with Host Property AB (publ) as the issuer (the "Issuer"). Terms defined in the Terms and Conditions shall have the same meaning when used in this letter, unless otherwise defined herein.


Host Property AB has entered into a share purchase agreement regarding the divestment of Host Billingehus i Skövde AB

Host Property AB (publ) (the "Company") has today entered into a share purchase agreement regarding the divestment of Host Billingehus i Skövde AB (the "Transaction").


Host Property

3Q 2021


Invitation to 2Q2021 Results Presentation

Investor update call


Host Property AB (publ) announces changes in board of directors and management

Reference is made to the SEK 500,000,000 senior secured and guaranteed floating rate bonds 2019/2022 with ISIN SE0013486057 as amended and restated on 26 March 2021 (the "Bonds") issued by Host Property AB (publ) (the "Company") and the terms and conditions for the Bonds (the "Amended Terms and Conditions"). Any capitalised term used but not defined herein shall have the meaning given to it in the Amended Terms and Conditions.


Följ oss

Om beQuoted

beQuoted publicerar nyheter, analyser och pressmeddelanden för investerare och journalister. Viktiga företagshändelser bevakas av vår egen nyhetsredaktion och vidaredistribueras i ledande finansiella medier.

Vi uppdaterar även nyhetsrum, Investor Relations och IR-webbplatser för företag som vill utveckla sina relationer med finansmarknaden.

Kontakta oss

beQuoted AB
Nybrogatan 34
Box 5216
102 45 Stockholm

08-692 21 90

Om beQuoted