Results and Presentation

  • Revenues of SEK 1.0 million for in 1Q 2021 and EBITDA of minus SEK 2.9 million during the period
  • Continued low activity in the hotel market during the period, occupancy down approximately 50% compared to normalized
  • Later during the year, when the vaccine rollout process has covered a critical percentage of the population, the hotel activity is expected to improve
  • Positive market and travel activity in other countries and regions where vaccine programs have covered a critical share of the population
  • Increased security for bondholders after the amended bond agreement finalized during the quarter, Søderhamn hotel property and Jessheim plot added to the security package
  • After the SEK 65 million partial prepayment from the CAPEX account, as part of the amended T&C, the LTV was reduced to approximately 45% in April 2021
  • Stig Bech has replaced Asmund Haare as Chairman of the board in Flying Elephant during the quarter and Christopher Utne has entered as board member
  • Eiliv Bugge Fougner to be elected as board member in Host Property (representative for the Majority Bondholders)

Christian Fuhr, IR: +47 98 22 85 16, [email protected]

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Marknad Nasdaq First North Bond Market Kortnamn HSPR ISIN-kod SE0013486057