The Azur Selection S.A, Announces Its Full-year 2022 Results
- 119
Regulatory News:
The Azur Selection (ISIN: GRS528003007 Mnemonic: MLAZR) (Paris:MLAZR), a Greek hospitality company recently listed on the Euronext Access + market in Paris, announces its Full-year 2022 results.
2022 was a very good season for the Greek hospitality industry and the industry experts, anticipate the same for 2023. During 2022 the revenues and operating profit of The Azur Selection increased by €1.955.407 or 72% and €609.384 or 261%, respectively, mainly due to the ease of the Covid pandemic restrictions and the extension of the tourist season in Greece. As a result of the improved performance, EBITDA increased by 61% or €666.522, from €1.089.929 in 2021 to €1.756.451 in 2022. The profit before tax has also been strongly improved rising from €177.123 for 2021 to €668.683 for 2022, a multiple of more than 3.5, representing a margin of 14.3% (+7.8pts).
On the Balance sheet side, the most significant ratio is Non-Current assets on Total assets which is 81% in 2022 compared to 92% in 2021.
The 2022 financial report is available in the investor section of the company’s website:
https://www.azurselection.com/investor-relations
About The Azur Selection
The Azur Selection invests in hotels and commercial real estate through a lease and sublease business model and operates an investment management business through its subsidiaries and associated companies. It focuses on investing in hotels, hospitality and real estate in selected highly commercial geographical areas in Greece, the French Riviera and elsewhere. It currently manages a portfolio of commercial real estate and hotels in Athens and on the island of Mykonos while maintaining long-term leases with the companies or users of its properties. Its portfolio includes 5 hotels (3 are subleased to a hotel operator and 2 are fully managed), as well as a shopping centre.The group is managed by experienced executives with knowledge of the Greek and international real estate market.
The Azur Selection S.A. (MLAZR) is listed on the Euronext Access + market in Paris.
https://www.azurselection.com/about-azur
View source version on businesswire.com: https://www.businesswire.com/news/home/20230502005962/en/
