The National Securities Market Commission (CNMV) decided temporary suspension of the listing with immediate effect NH Hotel Group after presenting results this Monday, with a loss of 36m euros in the first quarter of the year, a figure representing an improvement of 40.9m euros compared to the same quarter of 2022. The organizer announced this decision at around 12:00 in the middle of the session. pm , “while distributing relevant information”. At that time, the company’s shares were trading at 3.62 euros, up 0.97%. The hotel group reminded that the January-March period was the “weakest” period due to the seasonality of the business.
Despite everything, the company rose rapidly Total revenue in the first quarter reached 407 million euros, 74.2% more Compared to the same quarter of 2022, affected by the restrictions of the omicron variant of covid. With this volume of revenue, NH exceeds 15.4% of revenue in Q1 2019 in the absence of a pandemic. NH’s gross operating result (Ebitda) reached €59 million between January and March, more than six times the Ebitda achieved in the first quarter of 2022 and reached €83 million in the first three months of 2019.
ICO credit and liquidity
The liquidity of the group exceeds 480 million euros after the remaining 50 million of the 250 million ICO loans received during the pandemic were voluntarily repaid last January. Due to the seasonality of the period and €23 million of CapEx investments made in the first quarter of the year, NH’s net financial debt has now reached €340 million, an increase of €33 million.