Hotel Fast SSE (HOTEL) Q4 2024 earnings summary

Executive summary

• Strategic shift to a pure-play hotel property company, including divestment of First Hotels International AS and consideration of selling the operating company for First Hotel Planetstaden in Lund.

• Sale of franchise business completed post-period, resulting in CEO and board changes; company renamed Hotel Fast SSE AB.

• Future reporting will be on a semi-annual basis.

Financial highlights

• Q4 2024 net revenue: 19.9 MSEK, flat year-over-year; full-year 2024 net revenue: 89.2 MSEK, up from 55.1 MSEK.

• Q4 2024 EBIT: 0.7 MSEK (1.8 MSEK prior year); full-year EBIT: -6.3 MSEK (41.8 MSEK prior year, which included negative goodwill effects).

• Q4 2024 net result: -5.3 MSEK (-3.4 MSEK prior year); full-year net result: -31.4 MSEK (30.1 MSEK prior year).

• Q4 2024 operating cash flow: -20.8 MSEK (-7.7 MSEK prior year); full-year: -15.6 MSEK (-30.2 MSEK prior year).

• Cash and cash equivalents at year-end: 2.1 MSEK (10.0 MSEK prior year).

Outlook and guidance

• Strategic focus on hotel property ownership and divestment of non-core operations to reduce costs and improve refinancing capability.

• Anticipated benefits include lower administrative expenses and a more robust platform for future growth.