March 1 (SeeNews) - Croatian hotel owner and manager Arena Hospitality [ZSE:ARNT] said it will propose to distribute a dividend of 0.7 euro per share for 2022.
“As the revival of the travel industry across European markets gained momentum throughout 2022, the Company’s overall performance surpassed our expectations and our 2019 results,” the company said in a presentation of its consolidated unaudited results published on Tuesday.
For the last time, the company paid a dividend of 5 kuna ($0.71/0.66 euro) per share in 2019.
Its revenue increased by 79.1% year-on-year to 825.3 million kuna in 2022 and was 6.1% higher compared with 2019, according to the presentation. EBITDA increased 43.8% to 235 million kuna and was up by 2.4% compared to 2019.
Arena owns, co-owns, leases, operates and develops full-service upscale, upper upscale and lifestyle hotels, self-catering holiday apartment complexes and campsites in Croatia, Germany, Hungary, Serbia and Austria.
Arena’s shares traded 1.13% lower at 35 euro on Wednesday morning on the Zagreb bourse.
($ = 0.939 euro)