Precisely this bank is the world leader of underwriters of this type of debt with 9,683 million in 2018, followed by Crédit Agricole and HSBC. Banking also accounted for 28% of total issues. The latest, from BBVA, with the first structured green bond using technology.NH Hotel Group last year earned 117.8 million euros, which is more than tripling the 35.5 million profit obtained in September 2019 Calendar Kalnirnay (82.3 million more) thanks, in part, to the capital gains obtained from the asset rotation strategy. Excluding the effect of the application of the IAS 29 regulation due to hyperinflation in Latin America, the hotel company’s profits amounted to 104.3 million in 2018 (three times), while the recurring net profit doubled to 72.4 million for the business improvement and reduction of financial expenses. The board of directors of NH will propose to the general meeting of shareholders a maximum dividend of 15 euro cents per share, with an estimated disbursement of some 59 million euros, this Monday NH announced to the National Securities Market Commission (CNMV) ).
September 2019 Calendar Kalnirnay
Revenues increased by 4.6% last year, to 1,623.5 million euros, due to the good performance of the activity in Europe and despite the impact of currency exchange in Latin America and hotels in the process of reform. EBITDA EBITDA (before reversal of onerous and capital gains on asset turnover) recorded an increase of 14%, totaling 264.8 million euros, thanks to revenue growth and cost containment. The EBITDA margin grew 1.3 percentage points, reaching 16.3% of revenues. In the current year, the company expects to reach an EBITDA of 285 million euros and a recurring net profit of around 100 million euros.
NH has significantly reduced its net financial debt (by 484 million euros) to 171 million at the end of 2018, bringing the debt to 0.6 times EBITDA compared to 5.6 times in 2015, highlighting, likewise, ” the strong cash position “that reaches 266 million euros. According to its CEO, September 2019 Calendar Kalnirnay, the results obtained in 2018 are “an excellent starting point for progress” in the integration with the Thai group Minor International, which has come to control 94.1% of the Spanish hotel chain, following a process of opa that ended last October.