Tel Aviv Stock Exchange Ltd. · TASE:TASE
Tel Aviv Stock Exchange — Fattal Hotel Group — Investor Presentation (May 2024)
27 slides from Tel Aviv Stock Exchange's investor presentation, May 2024
Slide 1: Capital Market Presentation - May 2024
Capital Market Presentation - May 2024
Slide 2: Disclaimer
Disclaimer This presentation is not the Company’s offer of securities to the public and should not be interpreted as an offer of securities to the public. The presentation constitutes the Company’s principal and marketing presentation. The information included in this presentation and any other info
Slide 3: Fattal Group Overview
Fattal Group Overview 1998 Established 21 Countries 282 Hotels¹ 50,433 Rooms¹ About 80% of activities in Europe EBITDA2– 2024E: 1,600 – 1,800 Million NIS Rating: A2.il Stable 1 Including future hotels. 2 Includes the Company's share in affiliated companies. 3
Slide 4: Q1-2024 Summary of good operational results in the first quarter
Q1- 2024 Summary of good operational results in the first quarter Increased occupancy and prices on 1.4 409 all markets. NIS billion NIS million Revenues1 EBITDAR1 Continued strengthening of the Company's financial ratios. 109 775 NIS million NIS million Positive current cash flow. EBITDA1,2 Balance
Slide 5: Number of Hotels – Diverse Mix
Number of Hotels1 – Diverse Mix Hotels split by type Europe - 03.24 64 Total 72 8 140 4 Ownership 282 Israel - 03.24 39 Total Lease 133 25 67 Management 141 Hotels 3 03/2024 UK & Ireland - 03.24 19 Total 40 59 Other - 03.24 11 1 4 Total 16 239 03/2024 Active hotels Ownership Lease Management 1 As of
Slide 6: Number of Rooms - Diverse Mix
Number of Rooms1,2 - Diverse Mix Rooms split by type Europe - 03.24 9,845 Total 13,194 23,556 517 1,139 Ownership Israel - 03.24 8,364 Total Lease 24,832 24,462 2,522 11,386 Management 500 UK & Ireland - 03.24 3,903 Total 8,836 12,739 Other - 03.24 2,350 280 Total 2,752 43,492 122 03/2024 Active roo
Slide 7: Fattal Hotel Group Global Presence
Fattal Hotel Group 7 52 Global Presence1,2 Ireland The UK, Wales and Scotland 14 The Netherlands 2 4 Belgium 71 Poland Germany 2 Czech Republic 1 3 10 France Switzerland Austria 2 Hungary 21 123 1 Countries Cities 8 Romania 2 Portugal Italy 20 Spain 7 9 Cyprus Greece 67 Israel 1 Including future hot
Slide 8: Group Average Daily Revenue per Room ADR (NIS) – Q1
Group Average Daily Revenue per Room ADR 1 )NIS( – Q1 Dealing With the Effects of Inflation and Rising Expenses The data includes the currency effect 17% 2022>2024 ₪444 ₪439 ₪380 Q1-2022 Q1-2023 Q1-2024 1 The ratio between room revenues only and occupied rooms in the hotel. This figure does not incl
Slide 9: Group Average Occupancy Rate – Q1
Group Average Occupancy Rate1 – Q1 72% 74% 68% 66% 65% 61% 60% 47% 40% Q1-2022 Q1-2023 Q1-2024 Q1-2022 Q1-2023 Q1-2024 Q1-2022 Q1-2023 Q1-2024 Israel Central UK & Ireland Europe 1 Include the Company's share in affiliated companies. 9
Slide 10: Growth Engine - Establishing Hotel Partnerships in Europe
Growth Engine - Establishing Hotel Partnerships in Europe Partnership 2 Partnership 3 04.2022 € 100M 01.2024 € 100M Established Established The Company’s share in The Company’s share in € 381.2M capital commitment € 296M* capital commitment Capital Capital commitment commitment Around €651 million T
Slide 11: The Presence of Partnership Hotels
The Presence of Partnership Hotels 2 assets 1 asset UK Ireland 3 assets 1 asset Germany Poland 1 asset 1 asset Austria France 2 assets Italy 11 assets 1 asset Spain Greece 3 assets Cyprus 11
Slide 12: Looking Ahead - Opening Hotels in the Coming Years
Looking Ahead - Opening Hotels in the Coming Years1 (excl. hotels under Hotel Partnerships in Europe) Italy *1 27 4€ Israel 1 61 70₪ Israel *1 327 195₪ Israel **9 1,729 857₪ Owned UK 1 125 13€ Greece *1 130 5€ Portugal 1 132 29€ Portugal *1 560 23€ UK 1 207 33€ Cyprus *1 165 16€ 2024 2025 2026 2027-
Slide 13: Financial Results Q1 - 2024
Fil ga Financial Results _Q1- 2024
Slide 14: Main Financial Data - Revenues (NIS millions)
Main Financial Data - Revenues1 (NIS millions) Q1 Results 1,486 1,304 530 469 465 772 400 384 356 305 256 182 107 79 29 Q1-2022 Q1-2023 Q1-2024 Israel Europe UK & Ireland Other 1 Includes the Company's share in affiliated companies 14
Slide 15: Main Financial Data - EBITDAR (NIS millions)
Main Financial Data - EBITDAR1 (NIS millions) Q1 Results 409 301 133 130 97 119 118 106 78 52 28 24 22 10 -13 Q1-2023 Q1-2024 Q1-2022 Israel Europe UK & Ireland Other 1 Includes the Company's share in affiliated companies 15
Slide 16: Main Financial Data - EBITDA (NIS Millions) Prior to IFRS 16
Main Financial Data - EBITDA1 (NIS Millions) Prior to the Impact of Standard IFRS 16 Q1 Results 109 98 37 -125 13 11 5 16 6 2 -2 -2 Q1-2023 -5 -32 Q1-2024 -89 Q1-2022 Israel Europe UK & Ireland Other 1 Includes the Company's share in affiliated companies 16
Slide 17: Segmentation of revenue from same assets (NIS Millions) – Q1
Segmentation of revenue from same assets (NIS Millions) – Q1 Revenue 1,486 Q1/2024 Revenue from new 43 assets Approx. NIS 56 million comes from an increase in the exchange rate The influence of 182 currency exchange 56 rate changes Increase in same assets revenue excl. the 14% effect of the exchange
Slide 18: Segmentation of EBITDAR from same assets (NIS Millions) – Q1
Segmentation of EBITDAR from same assets (NIS Millions) – Q1 EBITDAR Q1/2024 409 618 EBITDAR from new assets 18 Approx. NIS 14 million comes from an increase in the exchange rate The influence of 108 currency exchange 14 rate changes Increase in same assets EBITDAR excl. the effect of the exchange r
Slide 19: Segmentation of EBITDA from the same assets (NIS Millions) – Q1
Segmentation of EBITDA from the same assets (NIS Millions) – Q1 EBITDA Q1/2024 109 618 EBITDA from new assets 2 Approx. NIS 1 million comes from an increase in the exchange rate The influence of 72 currency exchange 1 rate changes Increase in same assets EBITDA excl. the effect of the exchange rate
Slide 20: Revenue Split and EBITDAR Split – Q1/2024
Revenue Split – Q1/2024 EBITDAR Split – Q1/2024 Other Other Israel Israel 7% 7% Europe 26% 33% Europe 31% 36% 31% 29% UK & Ireland UK & Ireland Includes the Company's share in affiliated companies. 20
Slide 21: Key Debt Metrics (NIS millions)
Key Debt Metrics (NIS millions) Split by debt type Debt and average interest rate as of 31.03.24 17% 15% 2,521 Approx 68% 3.7% at fixed Total net debt interest rate as of 31.03.24 16% 6,095 NIS million 1,155 1,056 1,050 37% 1,031 7.1% 3.7% 7% 2.5% 15% Linked to Israeli ICP NIS unlinked fixed interes
Slide 22: Financial Ratios (NIS Millions)
1 Financial Ratios (NIS Millions) Gradual increase in the equity-to-total assets ratio Declining debt/EBITDA ratio 35.3% 7.89 34.0% 33.8% 33.6% 6.34 6.10 32.0% 5.80 5.33 5.04 4.92 30.5% 4.85 4.81 30.5% 29.6% 1,076 975 1,016 939 881 28.2% 752 27.4% 665 693 547 26.2% 26.1% Dec-19 Dec-20 Dec-21 Mar-22
Slide 23: Consolidated Balance Sheet (NIS millions)
Consolidated Balance Sheet (NIS millions) Mar-24 Mar-24 Mar-23 Dec-23 Data prior to As shown in Impacts of implementati the Financial IFRS16 on of IFRS16 Statements Current Assets 1,627 )91( 1,536 1,217 1,503 Long Term Investments and Other 4,305 13,480 17,785 16,041 17,189 Assets Fixed Assets 7,779
Slide 24: Consolidated Profit and Loss Statement (NIS million)
Consolidated Profit and Loss Statement (NIS million) 1-3/24 1-3/23 1-12/23 Data prior to As shown in Impacts of implementation the Financial IFRS16 of IFRS16 Statements Revenues from Hospitality Services and Others 1,402 - 1,402 1,242 6,928 Total Operating Expenses 1,003 - 1,003 948 4,476 Operating
Slide 25: Forecast 2024
Forecast 2024 25
Slide 26: Looking Ahead
3 Looking Ahead Factors for continued growth in 2024: New hotels, partnership activities and revenue growth while maintaining profitability. Revenues1 (NIS millions) EBITDAR1 (NIS millions) EBITDA1,2 (NIS millions) FFO (NIS millions) 51% 68% 107% 84% 2019>2024 2019>2024 2019>2024 2019>2024 7,800-8,2
Slide 27: Thank you for your attention!
Thank you for your attention!
Fattal Hotel Group — Investor Presentation (May 2024) on 6ix