Arena Hospitality Group (ARNT) Q3 2024 earnings summary

Executive summary

• Consolidated revenue reached a record EUR 125.4 million for the first nine months of 2024, up 11% year-over-year, driven by strong RevPAR growth across all regions and successful property upgrades.

• EBITDA increased by 13% to EUR 39.4 million, reflecting robust summer performance in Croatia and continued growth in Germany and CEE, supported by cost discipline and lower utility expenses.

• The Group maintained a strong liquidity position with EUR 55.0 million in cash as of 30 September 2024 and launched a new share buyback programme to enhance shareholder value.

Financial highlights

• Total revenue rose 11.2% year-over-year to EUR 125.4 million; accommodation revenue increased 10.4% to EUR 105.0 million.

• EBITDA grew 12.6% to EUR 39.4 million; profit before tax was EUR 19.9 million, up 6.4% year-over-year.

• Group net profit after tax reached EUR 15.4 million, with EPS at EUR 3.05 compared to EUR 2.88 in the prior year.

• Cash and cash equivalents stood at EUR 54.97 million at period end.

Outlook and guidance

• Trading post-September 2024 is in line with expectations; Q4 is expected to be strong in Germany and Hungary, while Croatian leisure operations enter maintenance.

• Focus remains on building occupancy and ADR in Germany, delivering a solid winter season in Austria, and driving operational performance in CEE and Croatia.

• The Group aims to conserve and improve liquidity while continuing investments in property upgrades and exploring new growth opportunities in Croatia and CEE.