Significant events / Accounting treatments during FY 2019 I. - - PowerPoint PPT Presentation
Significant events / Accounting treatments during FY 2019 I. Adoption of IFRS 9 and IFRS 15 II. Deconsolidation of The Lux Collective following the separation of the Management Company from the Property and Operating Companies effective 1 st
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Significant events / Accounting treatments during FY 2019
I. Adoption of IFRS 9 and IFRS 15 II. Deconsolidation of The Lux Collective following the separation of the Management Company from the Property and Operating Companies effective 1st January 2019. III. The closure of Merville Beach hotel for renovation.
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Profit movement 2018 to 2019 (Rs m)
415 +478 +75 +15
530
Profit FY 2018 Total Revenue Payroll Costs Operating Expenses Depreciation & Amortisation Repossession Le Recif in FY 18 Finance Costs Income Tax Profit FY 2019
6 5,712 382 47 49 6,190
FY 2018 Mauritius Maldives Reunion FY 2019
Revenue (Rs m)
650 192 99
896
FY 2018 Mauritius Maldives Reunion FY 2019
Operating Profit (Rs m)
Mauritius 59% Maldives 37% Reunion 4%
2019 Operating Profit contribution
Mauritius 60% Maldives 25% Reunion 15%
2019 Revenue contribution
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Competition Analysis: Mauritius
Data from STR Global. Hotels: LUX* Belle Mare, LUX* Le Morne, LUX* Grand Gaube, Tamassa & Merville Beach. Data from STR Global. LUX* South Ari Atoll
Maldives
10,456 11,097 11,317 11,821 11,872
2015 2016 2017 2018 2019
TREVPAR (Rs)
79% 81% 80% 76% 77%
2015 2016 2017 2018 2019
OCCUPANCY
7,223 7,813 8,191 8,951 9,199
2015 2016 2017 2018 2019
ARR (Rs)
CAGR 6%
5,728 6,335 6,580 6,846 7,045
2015 2016 2017 2018 2019
REVPAR (Rs)
CAGR 5%
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CAGR 3%
4,655 5,185 5,925 5,712 6,190 1,054 1,124 1,266 1,135 1,366 384 418 507 418 530
2015 2016 2017 2018 2019
Revenue – Rs m Recurring EBITDA - Rs m Recurring NPAT – Rs m
EBITDA Margin 22.6% 21.6% 21.4% 19.8% 22.1%
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8.2% 8.0% 8.6% 7.3% 8.6% NPAT Margin CAGR 7.4% CAGR 6.7% CAGR 8.4%
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STATEMENTS OF CASH FLOWS FOR THE YEAR ENDED JUNE 30, 2019 30-Jun-19 30-Jun-18 OPERATING ACTIVITIES Rs'000 Rs'000 Net cash flows from operating activities 1,011,832 741,219 INVESTING ACTIVITIES Purchase of shares in subsidiary
Purchase of property, plant and equipment (187,280) (1,333,863) Purchase of intangible assets (279,378) (10,627) Proceeds from disposal of property, plant and equipment 37,672 1,050 Net cash flows used in investing activities (428,986) (1,421,909) FINANCING ACTIVITIES Proceeds from long term borrowings 1,212,699 1,682,988 Payments on long term borrowings (1,440,064) (1,014,187) Dividends paid (356,502)
(20,620) (14,244) Net cash flows used in financing activities (604,488) 654,557 Net decrease in cash and cash equivalents (21,641) (26,133) Opening balance (98,999) (72,866) Closing balance (120,640) (98,999)
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Evolution of DEBT, EBITDA & DEBT/EBITDA RATIO
4,107 4,504 3,786 4,673 4,350 1,078 1,123 1,089 1,134 1,366 3.8 4.0 3.5 4.1 3.2
0.0 1.0 2.0 3.0 4.0 5.0 6.0 7.0 8.0 9.0 500 1,000 1,500 2,000 2,500 3,000 3,500 4,000 4,500 5,000 June 2015 June 2016 June 2017 June 2018 June 2019 Debt (Rs M) EBITDA (Rs M) Net Debt/EBITDA
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Evolution of EQUITY, DEBT & GEARING
4,107 4,504 3,786 4,673 4,350 5,765 6,011 5,794 6,008 6,007 42% 43% 40% 44% 42% 0% 5% 10% 15% 20% 25% 30% 35% 40% 45% 50% 1,000 2,000 3,000 4,000 5,000 6,000 7,000
June 2015 June 2016 June 2017 June 2018 June 2019 Interest Bearing Debt (Rs M) Equity (Rs M) Gearing