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Dalata Hotel Group (DHG) investor relations material
Dalata Hotel Group H1 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue for H1 2025 reached €306.5m, up 1–1.4% year-over-year, with adjusted EBITDA at €102.5m, reflecting a slight increase or 5% decline depending on the metric, and profit after tax fell 45% to €19.6m due to strategic review costs and higher non-cash charges.
Strategic review led to a recommended all-cash offer of €6.45 per share, a 49.7% premium to the 12-month average price.
Acquisition of Radisson Blu Hotel Dublin Airport completed for €83m, and three to four new lease agreements signed in Berlin, Madrid, and Edinburgh, expanding the pipeline by over 1,000 rooms.
Free cashflow per share was 21.6c, with total free cashflow at €45.7m, marginally ahead of H1 2024.
Highest ever employee and customer satisfaction scores achieved, with continued growth in direct bookings, industry-leading ESG ratings, and a 37% reduction in carbon emissions per room sold since 2019.
Financial highlights
Group revenue increased to €306.5m (+1–1.4% YoY), driven by new openings and acquisitions, partially offset by disposals and weaker UK/German performance.
Adjusted EBITDA was €102.5m, down €5.1m or 5% year-over-year; profit before tax fell to €23.3m from €41.9m; profit after tax was €19.6m, down 45%.
Free cashflow per share was 21.6c; free cashflow €45.7m; net cash from operating activities €96.0m.
LFL occupancy held at 77.2–77.9%, with ARR and RevPAR both 1.7–2% behind last year.
Hotel assets valued at €1.8bn; net debt to EBITDA after rent at 1.7x.
Outlook and guidance
LFL RevPAR for July & August expected to be about 2.5% behind last year; Dublin and UK slightly down, Regional Ireland up.
No interim dividend proposed for H1 2025 due to the pending acquisition.
Demand supported by strong flight volumes and events, with positive contributions expected from recent acquisitions and openings.
Confidence in continued strong performance, supported by portfolio quality and brand strength.
Continued monitoring of economic and geopolitical uncertainties.
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