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Minor Hotels Europe & Americas (NHH) investor relations material
Minor Hotels Europe & Americas Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Strong business and leisure demand in H1 2025 drove balanced RevPAR growth, with both ADR and occupancy contributing across all regions.
Revenues rose to €1,206m–€1,210m, up 5% year-over-year, with portfolio changes accounting for 34% of growth.
Net recurring profit increased by €20m to €86m; total net profit reached €112m (+58%), aided by asset disposals.
Net financial debt reduced by €130m to €114m, supported by asset rotation, strong cash flow, and disciplined capex.
Demand trends remain healthy into Q3, in line with expectations.
Financial highlights
H1 2025 revenue: €1,206m–€1,210m (+5% vs H1 2024); Q2 revenue: €710.5m–€711m (+3.7%).
H1 RevPAR: €102 (+5.9%); ADR: €147 (+3%); occupancy: 69% (+1.8 p.p.).
Reported EBITDA: €316.8m–€317m (+6.3%); recurring EBITDA (ex-IFRS 16): €177m (+8.6%).
Net recurring profit: €86m (+30%); total net profit: €112m (+58%).
Gross operating profit/EBITDAR: €432m (+6%), with a 40% flow-through ratio.
Outlook and guidance
Q3 demand trends remain healthy and in line with expectations following sustained H1 growth.
- Record 2023 profit and stronger cash generation supported further debt reduction.NHH
Q4 2023 - Net recurring profit up 52% and revenue up 10.9%, fueled by ADR and occupancy growth.NHH
Q3 2024 - H1 2024 saw record revenue and profit growth, driven by strong demand and margin gains.NHH
Q2 2024 - Q1 2025 revenue up 8% to €496m, net profit €4m, debt reduced, outlook steady.NHH
Q1 2025 - Record revenue, profit, and ratings upgrades highlight robust 2024 performance and outlook.NHH
Q4 2024
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