Design Hotels AG Publishes the Results for the 3rd of 2008
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Revenues grow by 11%
Net Margin improves compared to previous quarters
Berlin, 03 November 2008 - Design Hotels AG (Regulated Market,
Munich: LBA; ISIN: DE0005141006), consulting, marketing and
positioning service provider for hotels and small hotel groups listed
in the new luxury segment, today published its results, under IFRS,
for the third quarter and first nine months of 2008.
Financial Highlights for the Design Hotels Group:
Revenues in the first nine months of 2009 increased by approximately
11% to 6.29 million Euro (2007: Â¤5.65 million) with all business
segments contributing to the growth. In September, commissions
reached an all time high on a monthly basis. Booking commissions
accounted with 3.32 million Euro (+6%) for the majority of total
revenues. Membership fees reached 1.56 million Euro (+13%), Marketing
Products and Consulting generated revenues of 1.41 million Euro
The Gross Margin for the first nine months was 76%, roughly similar
to last year's (75%)
The EBITDA for the first nine months came in at 818,000 Euro compared
to 991,000 Euro for the same period the previous year. Contributing
to the result were extraordinary items totaling 130,000 Euro, whereas
last year the contribution of extraordinary items was 271,000 Euro.
Adjusted, the operational result for the reporting period fell by 4%
to 688,000 Euro (2007: 720,000 Euro). The adjusted EBITDA margin was
10.9% (2007: 12.7%)
EBIT for the reporting period reached 683,000 Euro, or 553,000 Euro
adjusted for extraordinary items. This represents a decrease by 13%
compared to 615,000 Euro for the same period in 2007 (before
adjustments: 886,000 Euro).
Net profits came in at 693,000 Euro, or 563,000 Euro after
adjustments. The adjusted net profits fell, compared to last year's
665,000 Euro (936,000 Euro before adjustments), by 15%. Earnings per
share were 0.08 Euro (2007: 0.11 Euro).
On September 30, the Company had cash and cash equivalents of 2.52
million Euro, compared to 2.20 million Euro on December 31, 2007.
Shareholders' equity increased from 4.73 million Euro to 5.42 million
Euro during the first nine months of the current year.
CEO Claus Sendlinger stated, "The small decline in the revenue growth
rate for the third quarter and the improvement of our net margin
compared to the first six months of this year, are entirely in line
with our expectations for the current financial year. Despite the
current economic climate, at two months before the end of the current
financial year we expect to achieve our objectives of single digit
revenue growth and a positive EBITDA just below last year's result."
"The current economic climate is starting to affect the travel
industry. This manifests itself in lower occupation rates and
increasing pressure on room rates. Despite this, we have managed to
grow our revenues, while the number of rooms available remained
equal. We consider this as an indication of the strength of the
Design Hotels brand, as well as the added value of our service
offerings. In view of the worsening market conditions, it remains our
main goal to make our customers aware of this strength, as well as
the benefits and potential of our service portfolio", concluded
At the end of the third quarter, the Design Hotels brand represented
173 hotels (2007: 169) with 12,711 rooms. With 380 membership
applications, demand remains high. Since the start of the year, 18
new houses were accepted.
Despite the relatively constant number of members, managed bookings
for the period increased by 17% compared to last year and the value
of these bookings rose by 9% to 52 million Euro.
Design Hotels AG
Claus Sendlinger (CEO)
Stralauer Allee 2c
Tel. +49 (0)30 88 484 00 01
Fax +49 (0)30 25 933 01 7
Schwarz Financial Communication
Tel. +49 (0)611 17453 9811
Fax +49 (0)611 17453 9829
Design Hotels AG (formerly: lebensart global networks AG) is an
integrated provider of communication and positioning services and
acts as a consultant for individually managed hotels and small hotel
groups. The service range of design hotels begins with the concept
for a hotel. Clients of design hotels AG can choose from a modular
service portfolio. With the brand Design Hotels(TM) the company
currently represents and markets a unique collection of over 170
individual hotels in more than 40 countries. Through its marketing
and communication activities Design Hotels AG forms the connection
between the member hotel and a global clientele looking for
self-determination and individuality.
www.designhotels.com, ISIN: DE0005141006, Munich Stock Exchange
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Design Hotels AG
Stralauer Allee 2c Berlin Germany
Listed: Freiverkehr in Frankfurter WertpapierbÃ¶rse, Freiverkehr in
Freiverkehr in Hanseatische WertpapierbÃ¶rse zu Hamburg, Geregelter
Markt in Bayerische BÃ¶rse MÃ¼nchen;