Reato
Hotel Fast SSE AB (publ) publishes year-end report for the fourth quarter and full year 2024.
Significant events during the period
In 2024, Hotel Fast SSE updated its strategy to become a pure hotel property company and received an offer to sell all shares in its subsidiary First Hotels International AS. The sale of shares in First Hotels International AS (the franchise business) marked the beginning of this strategy. The Board further intends to consider the divestment of its operational company, which runs the First Hotel Planetstaden in Lund, Sweden. These divestments will allow the Company to reduce overhead and management costs to a minimum. The sale of the franchise business will make the Company better suited for development and debt refinancing, which will ultimately benefit the Company and its shareholders.
Significant events after the period
Hotel Fast SSE AB (publ) has completed the sale of all shares in its subsidiary First Hotels International AS in accordance with the offer announced on November 7, 2024, and approved by the extraordinary general meeting on November 26, 2024. As a result of the sale, CEO Thomas Gillespie has resigned and has been temporarily replaced by Pål Mørch. The Board has started the process of appointing a new CEO. In connection with the sale, the Company has changed its name to Hotel Fast SSE AB (publ). Following the sale, Torje Gabrielsen, at his own request, has resigned from the Board as he was part of the buyer group. A new Board member will be elected at the next annual general meeting.
The company will henceforth publish reports on a semi-annual basis.
Fourth quarter 2024 summary for the Group:
| TSEK | 2024 Oct-Dec | 2023 Oct-Dec | 2024 Jan-Dec | 2023 Jan-Dec |
| Net revenue | 19 898 | 19 585 | 89 242 | 55 113 |
| Adjusted EBITDA | 1 390 | 2 269 | 9 104 | 45 906 |
| (Adjusted for extraordinary expenses) | 6 527 | |||
| Operating result EBIT | 700 | 1 830 | -6 257 | 41 750 |
| Result for the period | -5 269 | -3 371 | -31 416 | 30 082 |
| Cash flow from operating activities | -20 772 | -7 678 | -15 587 | -30 184 |
| Free cash flow | -966 | -11 400 | -7 875 | 6 379 |
| Earnings per share (before dilution), SEK | -0,08 | -0,05 | -0,47 | 0,49 |
| Earnings per share (after dilution), SEK | -0,08 | -0,05 | -0,47 | 0,49 |
| Number of shares before dilution | 66 502 894 | 61 745 328 | 66 502 894 | 61 745 328 |
| Number of shares after dilution | 66 502 894 | 61 745 328 | 66 502 894 | 61 745 328 |
Auditor’s review
This report has not been subject to review by the company’s auditor.
The company’s financial reports are available on the website https://www.hotelfastab.se/sv-se/investerare/finansiella-rapporter/
| Datum | 2025-03-28, kl 15:40 |
| Källa | MFN |
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