Arena Hospitality Group (ARNT) Q2 2025 earnings summary

Executive summary

• Total revenue for H1 2025 increased by 4.4% year-over-year to EUR 52.5 million, driven by growth in accommodation revenue and improved operational efficiency across regions.

• EBITDA rose 12.5% year-over-year to EUR 3.6 million, reflecting higher revenues and cost discipline.

• Croatian portfolio led with a 7.7% revenue increase, supported by ADR growth and renovated campsites; CEE region saw 12.9% revenue growth, while Germany faced revenue decline due to fewer major events.

• Cash and short-term deposits stood at EUR 19.7 million as of 30 June 2025, with stable liquidity and no new refinancing.

Financial highlights

• Group revenue: EUR 52.5 million (+4.4% year-over-year); accommodation revenue: EUR 41.4 million (+4.8%).

• EBITDA: EUR 3.6 million (+12.5% year-over-year); loss before tax: EUR 7.8 million (improved from EUR 9.8 million loss in H1 2024).

• RevPAR: EUR 44.4 (+14.1% year-over-year); ADR: EUR 105.7 (+4.5% year-over-year); occupancy: 42.0% (+350.7 bps).

• Net cash from operating activities: EUR 8.8 million; net cash used in investing: EUR 8.8 million; net cash used in financing: EUR 17.1 million.

• EPS: EUR -1.59 (improved from EUR -1.97 in H1 2024).

Outlook and guidance

• Trading since 30 June 2025 is in line with expectations; positive summer trends expected in Croatia, with last-minute bookings impacting visibility.

• Germany expected to benefit from upcoming trade fairs and events; CEE region to focus on strong summer in Nassfeld and operational improvements in Belgrade and Budapest.

• Group remains committed to liquidity conservation and continued investment in portfolio upgrades and growth opportunities.