Pphe Hotel Group Limited · LSE:PPH
Pphe Hotel — H1 2020 Earnings Presentation
31 slides from Pphe Hotel's earnings presentation, Sep 3, 2020
Slide 1: Interim Results for Six Months Ended 30 June 2020
3 SEPTEMBER 2020 INTERIM R E S U LT S FOR SIX MONTHS ENDED 30 JUNE 2020
Slide 2: Important Notice
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 IMPORTANT NOTICE By attending the meeting where this presentation right, without giving reasons, at any time and in or residents thereof, or to any corporation, partnership Forward-look
Slide 3: Presentation Team and Contents
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 PRESENTATION TEAM CONTENTS 3 Boris Ivesha Daniel Kos Greg Hegarty Robert Henke President & Chief Financial Officer Deputy Chief Executive Officer Executive Vice President Chief Executiv
Slide 4: Managing Through the Pandemic
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 MANAGING THROUGH THE PANDEMIC Good start impacted by COVID-19 from March, with lockdowns Decisive actions to preserve cash and and property closures. Park Plaza Westminster Bridge Londo
Slide 5: Managing the Inventory During the Year
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 MANAGING THE INVENTORY DURING THE YEAR Group number of rooms owned and managed hotels 8,000 US restrictions Rooms opened 2019 occupancy on EU travel 88.4% 2019 7,000 84.0% Rooms sold 71
Slide 6: Taking Swift Action to Navigate Through Pandemic
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 TAKING SWIFT ACTION TO NAVIGATE THROUGH PANDEMIC PROTEC TING C A SH FLOWS: £10.8 million £4.2 million £8.6 million £2.2 million in the period in Q2 in Q2 in Q2 Utilisation of payroll su
Slide 7: Strong Cash Position of £137 Million and Access to Undrawn Facilities
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 STRONG CASH POSITION OF £137 MILLION AND ACCESS TO FURTHER UNDR AWN FACILITIES £6.2 £17.5 £4.9 £(18.1) £(13.6) £153.0 £149.9 £4.1 Reported cash Operational cash flow Capex Debt service
Slide 8: Long Term Debt Profile with Covenants Waived Until Summer 2021
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 LONG TERM DEBT PROFILE WITH COVENANTS WAIVED UNTIL SUMMER 2021 MATURIT Y PROFILE AT 30 JUNE 2020 Total 1 year 2 years 3 years 4 years 5 years Thereafter £’m £’m £’m £’m £’m £’m £’m 739.
Slide 9: NAV Supported by New and Renovated Assets in Prime Locations
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 NAV SUPPORTED BY NEW AND RENOVATED ASSETS IN PRIME LOCATIONS EPR A NAV PER SHARE (IN £ ) BA SED ON 2019 EX TERNAL VALUATIONS 147.6 29.4% 514.7 Net debt 1087.7 leverage £25.30 £25.46 £20
Slide 10: Pipeline Update
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 PIPELINE UPDATE – Pipeline projects prioritised and continually assessed – Fully in control with contractual flexibility to phase development projects art’otel london hoxton art’otel lo
Slide 11: art'otel london hoxton
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 ART’OTEL LONDON HOX TON 10
Slide 12: Current Trading Trends
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CURRENT TR ADING TRENDS DOMESTIC DEMAND LEISURE DRIVEN YOUNGER GUEST AND FROM SHORT LEAD DEMAND DEMOGRAPHICS NEIGHBOURING BOOKINGS COUNTRIES HEALTH & SAFETY CITY BREAKS AND VOLATILITY D
Slide 13: Well Positioned to Benefit from Market Recovery
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 WELL POSITIONED TO BENEFIT FROM MARKET RECOVERY FULL VALUE CHAIN FOCUSED ON LOCATED IN KEY LOCATED IN MARKETS APPROACH DOMESTIC AND CITIES IN EUROPE THAT HAVE PROVEN TO – In control of
Slide 14: Supplemental Information
S U P P L E M E N TA L I N F O R M AT I O N
Slide 15: United Kingdom Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 UNITED KINGDOM PERFORMANCE Reported in GBP (£) Six months ended Six months ended 30 June 2020 30 June 2019 Change Total revenue £41.8 million £95.7 million (56.3)% EBITDAR £4.9 million
Slide 16: The Netherlands Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 THE NETHERL ANDS PERFORMANCE Reported in GBP (£) Reported in local currency Euro1 (€) Six months ended Six months ended Six months ended Six months ended 30 June 2020 30 June 2019 Chang
Slide 17: Croatia Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CROATIA PERFORMANCE Reported in GBP (£) Reported in local currency HRK1 Six months ended Six months ended Six months ended Six months ended 30 June 2020 30 June 2019 Change 30 June 2020
Slide 18: Germany and Hungary Performance
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 GERMANY AND HUNGARY PERFORMANCE Reported in GBP (£) Reported in local currency Euro1 (€) Six months ended Six months ended Six months ended Six months ended 30 June 2020 30 June 2019 Ch
Slide 19: Consolidated Statement of Financial Position
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 31 December 2020 2019 Unaudited Audited £’000 £’000 Assets Non-current assets: Intangible assets 18,023 18,036 Property, plant and e
Slide 20: Consolidated Statement of Financial Position
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CONSOLIDATED STATEMENT OF FINANCIAL POSITION 30 June 31 December 2020 2019 Unaudited Audited £’000 £’000 Equity and liabilities Equity: Issued capital – – Share premium 130,322 130,260
Slide 21: Consolidated Income Statement
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CONSOLIDATED INCOME STATEMENT Six months ended 30 June 30 June 2020 2019 Unaudited Unaudited £’000 £’000 Revenues 61,856 155,273 Operating expenses (64,650) (108,767) EBITDAR (2,794) 46
Slide 22: EPRA Performance Measures
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 EPR A PERFORMANCE MEASURES The table below reflects a Net Asset Value based on the current book values adjusted with a revaluation that is based on 2019 external valuations. These exter
Slide 23: EPRA Performance Measures
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 EPR A PERFORMANCE MEASURES The basis for calculating the Company’s adjusted EPRA earnings of £16.4 million for the 12 months to 30 June 2020 (12 months to 31 December 2019: £54.2 millio
Slide 24: Arena Grand Kažela Campsite
ARENA GRAND KAŽELA CAMPSITE Phase 2 completed summer 2020 Included 45 new holiday homes, new restaurant, bar and sports centre
Slide 25: Arena Verudela Beach Pula
ARENA VERUDELA BEACH PULA Refurbished 146 self-catering holiday apartments
Slide 26: Park Plaza Histria Pula
PARK PLAZA HISTRIA PULA Soft refurbishment of guest rooms, public areas and full redevelopment of the Yacht & Lighthouse restaurants
Slide 27: Our Commitment to Upscaling Corporate Governance
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 OUR COMMITMENT TO UPSCALING CORPOR ATE GOVERNANCE TO BENEFIT ALL STAKEHOLDERS Yoav Papouchado Nigel Keen Stephanie Coxon Kenneth Bradley Alternate Director Non-Executive Director Non-Ex
Slide 28: Board of Directors
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 BOARD OF DIRECTORS Eli Papouchado Yoav Papouchado Boris Ivesha Daniel Kos Kevin McAuliffe Dawn Morgan Kenneth Bradley Nigel Keen Stephanie Coxon Non-Executive Alternate President & Chie
Slide 29: Leadership Team
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 LEADERSHIP TEAM PPHE H OTEL G ROUP A R E N A H OSPITALIT Y G ROU P Boris Ivesha Daniel Kos Greg Hegarty Inbar Zilberman Reuel (“Reli”) Slonim Devansh Bakshi Arnoud Duin President & Chie
Slide 30: Largest Shareholders
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 L ARGEST SHAREHOLDERS Number of issued shares Number of Percentage of the Company’s issued (excluding treasury) Shareholders with holdings of 5% or more of the Company’s issued share ca
Slide 31: Correspondence
PPHE HOTEL GROUP I N T E R I M R E S U LT S F O R S I X M O N T H S E N D E D 3 0 J U N E 2 0 2 0 3 SEPTEMBER 2020 CORRESPONDENCE ROBERT HENKE Executive Vice President Commercial Affairs County Hall – Riverside Building 2nd Floor, Belvedere Road London SE1 7GP United Kingdom T. +31 (0)20 717 8600 E.