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        V.O 中文

        Fosun Tourism Group Announces 2018 Annual Results
        Recorded Strong Net Profit Growth to RMB389 million Adjusted EBITDA up 177.9% Y-o-Y Strong Results Underpinned by Robust Revenue Growth and Margin Expansion


        Financial Highlights:

        RMB million


        For the year ended 31 December








        Gross profit




        Gross profit margin



        +8.4 ppts

        Adjusted EBITDA




        Profit/ (loss) for the year




        Profit/ (loss) attributable to owners of the parent




        Earnings/ (losses) per share - basic (RMB)




        • Strong revenue and adjusted EBITDA growth of 37.9% and 9%, respectively
        • Recorded a net profit of RMB389 million in 2018, turned around from the loss of RMB295 million in 2017
        • Business volume increased by 7% in 2018
        • Five new Club Med resorts opened in 2018, including two Club Med Joyview resorts in China
        • Atlantis Sanya officially opened in April 2018 and brought in RMB752 million operation revenue in 2018
        • Healthy cash flow and balanced financing structure with the gearing ratio lowered to 14.0% as of the end of 2018

        (18 March 2019, Hong Kong) Fosun Tourism Group (“Fosun Tourism” or the “Company”; together with its subsidiaries, the “Group”, Stock Exchange stock code: 01992), the world’s leading leisure-focused integrated tourism group, is pleased to announce its annual results for the year ended 31 December 2018.

        Strong revenue and adjusted EBITDA growth whilst turned around to positive profit

        For the year ended 31 December 2018, the Group recorded a revenue of approximately RMB16,270 million, which represented an increase of 37.9% compared to the same period of 2017. The Group’s gross profit for the year of 2018 was around RMB5,276 million, up 86.4% year-on-year. Gross profit margin improved from 24.0% to 32.4%. In 2018, the Group’s adjusted EBITDA surged by 177.9% year-on-year to RMB2,073 million. The Group recorded a net profit of RMB389 million for the full year of 2018, turned around from the loss of RMB295 million for the year of 2017, while its net profit attributable to owners of the parent amounted to RMB308 million.

        Commenting on the results, Mr. Qian Jiannong, Chairman of the Board, Executive Director and Chief Executive Officer of Fosun Tourism said, “The encouraging results reflect the Group’s strong operational capability. The robust growth of the Group’s business is underpinned by the innovative FOLIDAY ecosystem of the Group, as well as its strong executional ability. We are confident that the growth momentum will continue, and we can bring better returns to shareholders in the future.”

        Resorts segment’s recurring operating profit increased by 41.8% to RMB406 million in 2018

        The Group offers all-inclusive package that includes accommodations, sports and leisure activities, entertainment, childcare, meals and open bar, in a wide range of resorts around the world under the brand of Club Med. In 2018, the operating performance of the resorts segment remained strong and recorded a recurring operating profit of RMB406 million, implying a year-on-year growth rate of 41.8%. As of 31 December 2018, the Group had 67 Club Med resorts and operated in more than 40 countries and regions. The Group opened five new Club Med resorts in 2018, including two Club Med Joyview resorts in China.

        Talking about the performance of Club Med, Mr. Henri Giscard d’Estaing, Vice Chairman of the Board and Deputy Chief Executive Officer of Fosun Tourism, said, “With a growth across all major markets including France, a further increase in the number of customers and a new improvement in profitability, Club Med delivered a very encouraging performance in 2018 after a good previous year and expects to continue to grow profitably in 2019. Thanks to the implementation of the upscale, global and “Happy Digital” strategy, Club Med is the worldwide leader of premium resort to provide all-inclusive holidays for global families and active couples.”

        Atlantis Sanya brought in an operation revenue of RMB752 million in 2018

        In respect of the tourism destination segment, Atlantis Sanya performed remarkably since its soft launch in February 2018 and official launch in April 2018, it brought in an operation revenue of RMB752 million in 2018 and recorded the occupancy rate of 73.0% in the third quarter of 2018. Regarding the resident vacation units, Tang Residence, the Group delivered 764 sold units of vacation apartments by the end of 2018 and recognized a sales revenue of RMB3,393 million in 2018. In addition, we managed and opened 147 units of Tang Residence in January 2019 under the brand of Albion.

        About the new tourism destination projects, the Group started the construction of Lijiang Project in Yunnan province in February 2019 and planned to start the construction of Taicang project in Jiangsu province in 2019. The Lijiang project is located in the ancient Baisha town in Yunnan, which is near the picturesque Yulong Snow Mountain, while the Taicang project is located in a historic city on the Yangtze River Delta, known for its rich cultural heritage and fine cuisine.


        FOLIDAY ecosystem kept growing by integrating different services and solutions in various tourism and leisure settings into one platform

        Through the FOLIDAY platform and alliance with Thomas Cook, the Group assists customers in planning their vacation and tailoring its product offerings to their specific needs. In 2018, the aggregate business volume of Foryou Travel and Thomas Cook JV was over RMB200 million. Other milestones within the FOLIDAY ecosystem including a first Miniversity club was opened in Atlantis Sanya in February 2018 and two Miniversity were newly opened in Shanghai in March 2019; Fanxiu operated “Toruk - the First Flight” in Sanya and launched the resident show C in Atlantis Sanya in February 2019; and Foryou Club has accumulated over three million users with an average monthly purchase over RMB4.18 million.

        Talking about the Group’s future strategies, Mr. Qian said, “Our vision is to bring greater happiness to global families, we will continue to strive to enhance brand awareness, guest satisfaction and customer loyalty. We will also seek more scarce valuable tourism resources and enhance the ecosystem of our businesses by offering integrated tourism products with enriched contents under various brands and characteristics. In addition, we will further leverage our global resources, network and talents to strength our leadership in global leisure tourism market with increase in inter-regions flow of customers and our services.”