Mahindra Holidays & Resorts India announced Q2FY23 results: Standalone: Q2FY23: Total Income at Rs. 302 crore, up 19.0% YoY excluding one-offs. Resort Income at Rs. 68 crore, up 33.5% YoY, driven by high occupancies and increased room inventory (Resort Income grew by 53.7% compared to pre-pandemic levels - Q2 FY20). EBITDA at Rs. 83 crore, up 12.4% YoY excluding one-offs; EBITDA Margin at 27.5% (up 500 bps vs pre-pandemic - Q2 FY20). PBT at Rs. 42 crore, up 4.8% YoY excluding one-offs. PBT Margin at 13.8% (up 270 bps vs pre-pandemic - Q2 FY20). H1 FY23: Total Income at Rs. 606 crore, up 30.0% YoY excluding one-offs. Resort Income at Rs. 152 crore, up 130.6% YoY. EBITDA at Rs. 167 crore, up 17.2% YoY excluding one-offs; EBITDA Margin at 27.6% (up 560 bps vs pre-pandemic - H1 FY20). PBT at Rs. 87 crore, up 14.0% YoY excluding one-offs. PBT Margin at 14.4% (up 350 bps vs pre-pandemic - H1 FY20). Consolidated: Q2FY23: Highest ever Q2 Total Income at Rs. 627 crore, up 5.7% YoY. EBITDA Rs. 145 crore; EBITDA Margin at 23.2%. PBT Rs. 53 crore. PBT Margin at 8.4%. PAT Rs. 41 crore. PAT Margin at 6.6%. H1 FY23: Total Income at Rs. 1,264 crore, up 25.0% YoY. EBITDA Rs. 277 crore, up 15.2% YoY; EBITDA Margin at 21.9%. PBT Rs. 92 crore, up 57.0% YoY. PBT Margin at 7.3% (up 150 bps YoY). PAT Rs. 71 crore, up 85.6% YoY. PAT Margin at 5.6% (up 180 bps YoY). Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd. said, “Acceleration in room inventory and growth in member additions is reflected in the strong performance with highest ever Q2 Total Income, EBITDA and PBT. We are focused on providing high-quality immersive experiences for our member families, now at ~2,75,000, and are confident of our core value proposition of Vacation Ownership which allows us to monetize the full potential of our growing member base.” Commenting on European operations, he added, “Despite the adverse effects of the Russia-Ukraine War which affected consumer sentiment and had an unprecedented inflationary impact leading to rise in input costs, Holiday Club Resorts (HCR) has delivered an impressive Q2 performance as is seen by the strong Revenue growth in Timeshare by 12% YoY and Spa Hotels by 16% YoY, along with the delivery of operating and net profits. HCR Spa Hotels achieved 70% occupancy during the quarter, better than the local hotel industry, reflecting the strong brand equity that Holiday Club Resorts enjoys. Travel sentiment continued to be buoyant for domestic Finnish travelers during the summer season.” Result PDF
Mahindra Holidays & Resorts India announced Q1FY23 results: Standalone: Total Income at Rs. 304 crore, up 40.3% YoY. Highest ever resort income in any quarter of Rs. 84 crore, driven by high occupancy and member spends. EBITDA Rs. 84 crore, up 15.3% YoY; EBITDA Margin at 27.7%. PBT Rs. 45 crore, a growth of 24% YoY excluding one-offs. PBT Margin at 14.9%. PAT Rs. 34 crore, up 11.1% YoY; PAT Margin at 11.1%. Cash position at Rs. 1,172 crore as on June 2022. Consolidated: Total Income at Rs. 637 crore, up 52.3% YoY. EBITDA Rs. 132 crore, up 75.3% YoY; EBITDA Margin at 20.7%. PBT Rs. 40 crore, an improvement of Rs. 59 Crs over Q1FY22. PAT Rs. 30 crore, an improvement of Rs. 51 Crs over Q1FY22. Commenting on the performance, Kavinder Singh, Managing Director and Chief Executive Officer, Mahindra Holidays & Resorts India Ltd. said, "Our focus on adding room inventory at a faster pace along with creating immersive experiences at our resorts has helped us deliver highest ever resort revenues, industry leading occupancies and higher member spends. Member additions have been robust with higher average unit realizations. We have delivered strong financial performance as reflected in the growth of Income & PAT. Our value proposition of Vacation Ownership is more relevant than ever before, with rising ARRs across leisure destinations." Commenting on European operations, he added, "Holiday Club Resorts (HCR) has delivered a significant improvement in Timeshare and Spa Hotels Revenues which is reflected in its operating results. This has been achieved despite unprecedented cost pressures due to high inflation. Summer holiday season started from mid-June onwards and domestic travel remains strong." Result PDF