MS ‘Deutschland’ Beteiligungsgesellschaft mbH
MS ‘Deutschland’ Beteiligungsgesellschaft mbH publishes first-half report for the 2013 business year
MS ‘Deutschland’ Beteiligungs GmbH / Key word(s): Half Year Results PRESS RELEASE MS ‘Deutschland’ Beteiligungsgesellschaft mbH publishes first-half report for the 2013 business year – Turnover increase of 8.5% to EUR 23.1m; EBITDA increase to EUR -0.8m – External factors negatively affect forecast for 2013 as a whole – Current level of orders received for 2014 is 44.5% up on prior year Neustadt in Holstein, 27/09/2013 – MS ‘Deutschland’ Beteiligungsgesellschaft mbH (‘MS Deutschland GmbH’), owner and operator of the cruise ship MS DEUTSCHLAND, has published its first-half report for 2013, confirming the preliminary turnover and earnings figures announced in July 2013. In 181 days of operation up to 30/06/2013 (prior-year period: 182) the company recorded stable average daily rates and generated a turnover of EUR 23.1m. This is an 8.5% turnover increase on the prior-year figure of EUR 21.2m. Capacity utilisation in this reporting period stood at 69.8%, which is around 10% up on the prior-year figure of 63.5%. EBITDA (earnings before interest, taxes, depreciation and amortisation) stood at around EUR -0.8m on the reporting date (prior year: approx. EUR -1.6m). Unfavourable weather conditions, which had a noticeable effect on customers’ booking behaviour, prevented the company’s key figures from improving further in the first half-year. Particularly in light of the prolonged uncertain political situation in the Middle East which, like the poor weather in the first half-year, meant that customers were reluctant to make luxury cruise bookings in the first months of the second half-year, the turnover forecast for the whole of 2013 has been revised down to EUR 43-45m. However, taking into account one-off positive and negative special effects of up to EUR 5.0m, the company is still anticipating positive EBITDA of at least EUR 3.0-5.0m. The aforementioned special effects result from the company’s debt reduction due to the majority shareholder AURELIUS assuming and waiving a loan of EUR 5.0m and from settling liabilities inherited from the period under the previous owner. As announced on 16/09/2013, the debt reduction forms part of a financing package from AURELIUS with a total volume of EUR 10m. This package also involves AURELIUS providing MS Deutschland GmbH with a subordinated shareholder loan of EUR 5.0m to further strengthen the company. This loan, which can be accessed at any time from 01/10/2013, can be used in part to cover the interest payment on the corporate bond, which is due for the first time in December 2013. The remainder of the funds are to be used for additional, value-adding investments in the ship. For instance, during the scheduled dock period in November 2013, a total of 55 French balconies will be installed on the two luxury decks. ‘With the installation of French balconies we are adding significant value for our guests, and we will see this reflected in a corresponding increase in revenue,’ said Christopher Nolde, Managing Director of MS Deutschland GmbH. The lower number of operational days in the coming year due to the 24-day dock period is being offset by some early sales achievements. The all-round push for greater quality and service and increased sales activities have led to the current level of orders for next year already reaching EUR 15.2m, which is 44.5% up on the prior-year period (EUR 10.5m). The management team, led by Christopher Nolde, will continue to consistently position the MS DEUTSCHLAND as a luxury ‘grand hotel of the high seas’. ‘We will do everything in our power to reinforce the loyalty of our guests through quality, service and unique travel experiences on board the original ‘Traumschiff’,’ said Christopher Nolde. ‘The feedback we have received from our guests so far and the support of our majority shareholder AURELIUS strengthen our belief in our strategy.’ Konstantin Bissias, who has been a Managing Director for MS Deutschland GmbH since 2010, will leave the company at the end of 2013 due to personal reasons. For the time being he will remain available to the company in an advisory capacity.
About MS ‘Deutschland’ Beteiligungsgesellschaft mbH: MS ‘Deutschland’ Beteiligungsgesellschaft mbH, headquartered in Neustadt in Holstein (Germany), operates cruises worldwide throughout the year as the owner of the ocean cruise liner MS DEUTSCHLAND, also known as the ‘Traumschiff’ from the television series of the same name. With a length of 175m and a width of 23m, the MS DEUTSCHLAND as ‘grand hotel of the high seas’ has a total of 294 passenger cabins. The ship received the award of ‘Best Ship 2013’ from both the Lufthansa City Center travel agencies and Diners Club. Further information: This report contains forward-looking estimates and statements that were made on the basis of the information available at this time. Forward-looking statements reflect the point of view at the time they are made. MS ‘Deutschland’ Beteiligungsgesellschaft mbH would like to point out that the actual circumstances and, consequently, the actual results realised at a later date may differ from the forecasts presented in this report for a variety of reasons. End of Corporate News 27.09.2013 Dissemination of a Corporate News, transmitted by DGAP – a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP’s Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de |
Language: | English | |
Company: | MS ‘Deutschland’ Beteiligungs GmbH | |
Am Holm 25 | ||
23730 Neustadt in Holstein | ||
Germany | ||
Phone: | 04561/396-0 | |
Fax: | 04561/396-121 | |
E-mail: | info@msdeutschland-gmbh.de | |
Internet: | www.msdeutschland-gmbh.de | |
ISIN: | DE000A1RE7V0 | |
WKN: | A1RE7V | |
Listed: | Frankfurt in Open Market (Entry Standard) | |
End of News | DGAP News-Service |
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