2021-04-30 16:31

1Q2021

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
markets
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]

Bifogade filer