Hospitality Invest AS – Q2 2024 Interim Report

22 Aug 2024 17:03 CEST

22 Aug 2024
The Board of Directors of Hospitality Invest AS has approved the unaudited group
financial results for the second quarter of 2024.

Please find attached the Q2 2024 Interim Report.

Key highlights of the report:
- Q2 24 revenues ended at NOK 4,630 million, an increase of NOK 477 million
compared to NOK 4,154 million in Q2 23. The growth from last year was primarily
driven by the consolidation of Caracap Group (Ferda) as per Q1 24.
- Q2 24 revenue growth of 11.5 % compared to Q2 23, and 9.4 % compared to Q1 24.

- Q2 24 EBITA ended at NOK 225 million compared to NOK 174 million in Q2 23.
- All segments except for the Staffing segment increased top line and
profitability in Q2 24 compared to Q2 23, while Staffing increased topline and
profitability in Q2 24 compared to Q1 24.
- In June, Norlandia Health & Care AS successfully placed a senior secured
sustainability-linked bond with a tenor of 4 years. The bond consists of a NOK
tranche of NOK 1,250 million and a SEK tranche of SEK 1,050 million. The bonds
will pay a margin of 550 bps p.a. above NIBOR and STIBOR respectively, and the
net proceeds were used to refinance the former bonds
- The current part of loans and borrowings has increased from year-end 2023, due
to the bond loan in Norlandia Health & Care Group AS being classified as
short-term rather than long-term as it is due in May 2025.
- Increased financial cost in 2024 primarily driven by higher interest and
unrealized foreign exchange losses.


Contact persons:
Roger Adolfsen (CEO): +47 98 22 25 00
Kristoffer Lorck (CFO): +47 93 02 88 18

More information:
Access the news on Oslo Bors NewsWeb site

626025_Hospitality Invest - Q2 2024 Interim Report.pdf