CONSOLIDATED PROFIT AND LOSS ACCOUNT (€ millions)
The Management Accounts shown below reflect the evolution of the Group’s activity based on hotel management criteria, so the groupings may not
coincide with the accounting criteria applied in the Group’s consolidated annual accounts.
It includes results for Hoteles Royal from March 2015.
NH HOTELS, S.A. INCOME STATEMENT AT 31 DECEMBER 2015
2015
2014
2015/2014
M EUR.
%
M EUR.
%
VAR. %
Recurring income
1.395.5
99.0%
1.265.1
97.7%
10.3%
Non-recurring income
14.3
1.0%
29.8
2.3%
(52.0%)
TOTAL INCOME
1.409.8
100.0%
1.294.9
100.0%
8.9%
Staff costs
(496.4)
(35.2%)
(460.0)
(35.5%)
7.9%
Direct management costs
(457.0)
(32.4%)
(413.2)
(31.9%)
10.6%
Non-recurring costs
(27.8)
(2.0%)
(24.4)
(1.9%)
13.8%
OPERATING PROFIT
428.6
30.4%
397.2
30.7%
7.9%
Leases and property tax
(292.6)
(20.8%)
(281.7)
(21.8%)
3.9%
Non-recurring leases and property tax
(4.4)
(0.3%)
(2.4)
(0.2%)
N/A
Recurring EBITDA
149.5
10.6%
110.1
8.5%
35.8%
Non Recurring EBITDA
(17.9)
(1.3%)
3.0
0.2%
(704.7%)
Reversal of provision for onerous contracts and other
10.0
0.7%
16.1
1.2%
(38.0%)
Recurring EBITDA after onerous
159.5
11.3%
126.2
9.7%
26.4%
Provision for impaired assets
31.6
2.2%
5.2
0.4%
507.1%
Depreciation
(94.8)
(6.7%)
(89.1)
(6.9%)
6.4%
Non-recurring depreciation
(21.2)
(1.5%)
(12.3)
(0.9%)
72.5%
EBIT
57.2
4.1%
32.9
2.5%
73.7%
Financial expenses
(46.6)
(3.3%)
(49.9)
(3.9%)
(6.6%)
Non-recurring finance costs
(3.5)
(0.2%)
(1.0)
N/A
258.8%
Change in fair value of financial instruments
4.7
0.3%
0.0
0.0%
-
Results of entities accounted for using the equity method
(1.1)
(0.1%)
(2.0)
(0.2%)
(46.8%)
Non-recurring results of entities accounted for using the equity
method
0.0
0.0%
(1.6)
N/A
(100.0%)
Profit (loss) for the year from discontinued operations net of tax
5.6
0.4%
33.8
2.6%
(83.4%)
EBT
16.4
1.2%
12.2
0.9%
33.9%
Corporation Tax
(13.1)
(0.9%)
(22.7)
(1.8%)
(42.4%)
PROFIT before minority interests
3.3
0.2%
(10.4)
(0.8%)
131.9%
Minority interests
(2.4)
(0.2%)
0.9
0.1%
(371.6%)
NET PROFIT
0.9
0.1%
(9.6)
(0.7%)
109.8%
10 CONSOLIDATED MANAGEMENT REPORT
