Lampsa Hellenic Hotels (LAMPS) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 increased by 2% year-over-year to €57.0 million at group level, with the parent company’s revenue up 4% to €38.0 million, driven by higher occupancy and average room rates in Athens hotels.

• Group gross profit fell to €20.0 million from €21.9 million, with gross margin declining to 35.0% from 38.9% due to higher personnel and third-party costs.

• EBITDA dropped 24% year-over-year to €13.4 million, and net profit after tax decreased to €5.4 million from €9.1 million, reflecting increased operating expenses and lower other income.

• The group maintained strong liquidity, with positive working capital of €1.4 million, while the parent company had negative working capital due to capital injections into subsidiaries.

Financial highlights

• Revenue: €57.0 million (up 2% YoY); parent company: €38.0 million (up 4% YoY).

• Gross profit: €20.0 million (down from €21.9 million YoY); gross margin: 35.0% (down from 38.9%).

• EBITDA: €13.4 million (down 24% YoY); parent company EBITDA: €10.0 million (down 9% YoY).

• Net profit after tax: €5.4 million (down from €9.1 million YoY); parent company: €4.2 million (down from €5.3 million).

• Basic EPS: €0.2447 (down from €0.4179 YoY).

Outlook and guidance

• Management expects continued revenue growth in H2 2025, with Athens hotels maintaining strong performance and Serbian hotels stabilizing.

• The group aims to restore the parent company’s negative working capital through core business results by year-end.

• Ongoing focus on liquidity management and cost control to mitigate international crises and cost inflation.