Resolutions of TMR’s Annual General Meeting 2019

Resolutions of TMR’s Annual General Meeting 2019
Resolutions of TMR’s Annual General Meeting 2019
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TMR‘s shareholders inter alia approved Individual financial statements and the distribution of profit for last year 2017/18 in the amount of EUR 7.574 mil. in such a way that EUR 757.4 thous. shall be used to replenish the reserve fund, EUR 225.3 thous. shall be used to pay off losses of prior periods, EUR 38 thous. shall be transferred to the social fund, and EUR 6.553 mil. will remain in the Company as retained earnings. KPMG Slovensko spol. s.r.o. was reelected as TMR’s auditor. Also, shareholders adopted changes in the Articles of Association and reelected Supervisory Board members, Igor Rattaj and Adam Tomis.

As part of the Business plan for the current financial year the Board of Directors presented a financial plan with annual consolidated revenues of EUR 120.0 mil., equal to a 10.9% increase year-over-year.  Earnings before interest, taxes, depreciation, and amortization (EBITDA) are planned for EUR 37.0 mil., an 8.3% increase compared to last year’s EBITDA.

As for the interim results of the winter season 2018/19, total revenues increased year-over-year 6.5%, whilst almost all segments and subsegments improved in revenues compared to the prior season: Mountain Resorts +7.8%, Leisure Parks (Tatralandia only) -2,9%, Dining +9.5%, Sports Services and Stores +7.1%, and Hotels +3.1%. The visit rate in Mountain Resorts slightly decreased, by -0.7%, whilst 4.9% less visitors came to Leisure Parks. The average occupancy in the Hotel segment improved 1%. 

The minutes will be published no later than 15 days at http://tmr.sk/investor-relations/regulated-information/general-meetings/.  ___________________________________________________________________________
Tatry mountain resorts, a.s. (TMR) is the leader in tourism in Central and Eastern Europe; it owns and operates attractive mountain resorts, amusement parks, restaurant facilities, sports services, shops and hotels. In the Low Tatras TMR owns and operates the resort Jasná Nízke Tatry and hotels Wellness hotel Grand Jasná, Boutique Hotel Tri Studničky, Chalets Jasná De Luxe, Hotel Srdiečko, and Hotel Rotunda. TMR is also the owner of Aquapark Tatralandia, the largest Slovak aquapark with year-round operation, which besides water entertainment includes Tropical Paradise, a special tropical indoor hall with sea water, as well as Fun Park, and accommodation in bungalows and apartments of Holiday Village Tatralandia. In the High Tatras TMR owns and operates the resort Vysoké Tatry with mountain areas of Tatranská Lomnica, Starý Smokovec, and Štrbské Pleso, which TMR co-manages. In the High Tatras TMR also owns hotels Grandhotel Praha Tatranská Lomnica, Grandhotel Starý Smokovec, Hotel FIS Štrbské Pleso and Mountain hotel Hrebienok. TMR also owns a 9.5 % share in Melida, a.s., which leases and operates the resort Špindlerův Mlýn in the Czech Republic. TMR also leases and operates the Czech ski resort Ještěd, Golf & Ski Resort Ostravice, and leases Kaskáda Golf Resort Brno, where it operates the hotel, restaurant and the congress center. In Poland TMR owns a 97% share in the mountain resort Szczyrkowski Ośrodek Narciarski S.A. (SON), a 75% share in a company that owns and operates Silesian Amusement Park (Śląskie Wesołe Miasteczko) and a 7.3% share in an amusement/educational project via the Polish company Korona Ziemi Sp. z.o.o. TMR also owns and leases hotels Slovakia, Kosodrevina, Liptov and Ski&Fun Záhradky a Bungalovy to third parties. By the end of 2018, cca. EUR 350 mil. had been invested into development and modernization of TMR’s resorts. TMR shares are traded on three European stock exchanges – in Bratislava, Prague, and Warsaw.