Emeis - comment

Emeis only releases revenue numbers at Q1 and Q3, but in its press release this morning, the company confirmed 2025 guidance that the increase in EBITDAR will be between 15% and 18% on a like-for-like basis. This confidence is driven by continued improvement in occupancy rates. Emeis set a target of €1.5bn of disposals between mid-2022 and the end of 2025 to reduce its debt. The Company has achieved a further €100m of new disposals since year-end, bringing the total to over €1bn, of which €760m has already been cashed in. Discussions continue for a further €2bn in potential real estate and operating asset disposals. 

The call is delayed this morning, but we are not expecting any major announcements/disclosures on the call.