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at 69% Occupancy |
ADLISWIL, Switzerland - Aug. 21, 2000 -- The
earnings before interest and taxes (EBIT) rose by CHF 7.3 million to CHF
12.0 million. The Group sales grew
by 7.7% to CHF 448.1 million and the total sales (including management and franchise operations) grew by 5.7% to CHF 643.0 million. The net income before minority interests was CHF 8.9 million. If the positive economic environment persists, Movenpick remains optimistic expecting good business in the second half of 2000 and higher profits than in the second half of 1999. In the year 2000, Movenpick continued with the development of promising products and the penetration of attractive markets with the associated financial investment. The focus on core businesses and products was pursued and all divisions managed to reach the interim targets of their strategic plans. In the traditionally quieter first half of the year, the relationship between operating profit and Group sales was improved giving us a margin of 2.7% (previous year 1.1%). These values are still below Movenpick�s mid-term goals. Mövenpick Hotels & Resorts The revenues from own and leased operations grew by 19.1% to CHF 118.6
million.The management operations revenues fell slightly by 3.7% to CHF
111.3 million. However, operating income (EBIT) grew significantly: +160.5%
to
The Mövenpick Hotel business including both Mövenpick Hotels & Resorts managed operations and Mövenpick Holding owned premises grew encouragingly. Purged
of the last remaining Karos Group hotels in Southern Africa, the management
business revenues rose by 30.0 % over 1999. In the first half of 2000,
we took over the management of a Resort Hotel in Aqaba and a second Nile
cruise-ship/hotel. Mövenpick Holding took over the majority of Sonotel
in Ouchy and the conference hotel in Egerkingen; both hotels have been
We will be thoroughly pursuing growth by further management contracts. At present over 30 hotel projects are being considered.Thanks to operational progress, better occupancy rates at higher room prices (yield), we were able to specifically improve operating profit. Provided there is no change to the economic climate or the political
stability of the Middle East, we can expect a good profit at the end of
the year.
Other Divisions Global revenues from Movenpick Premium Food Products, especially Ice Cream and Coffee, rose by 29.3% to CHF 47.2 million. The sales in the home market, Switzerland, developed according to plan, but still lie slightly below last year�s equivalent figures. The growth was seen in the Asia-Pacific, where the markets Japan, Singapore, Australia and New Zealand excelled. At the beginning of the year, we faced logistics problems especially in Japan, which forced the postponement of the market launch by several months. Although now solved, this market is seasonal and usually weaker in the second half of the year. The acquisition of Chateau Creme Delight in New Zealand will boost growth and strengthen the Asia-Pacific market base. The Business Unit Wine saw growth in revenues of 3.8% to CHF 56.7 million - a successful first semester. The new branches in Hanover and Stuttgart which were opened at the end of 1999 developed according to plan and the cooperation with Swissair and Sabena got off to a good start. Movenpick Produktions AG was able to increase sales to CHF 29.7 million
- an increase of 13.4%. The strongest growth (18%) was seen in the sales
to third-party companies in the premium hotel, gastronomy and catering
industry.
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Marcel Bolli Movenpick Group Head of corporate communications +41 1 712 22 01 Fax + 41 1 712 24 81 E-Mail: [email protected] www.moevenpick.com |