Hapimag posts largest annual profit for over 15 years
The Hapimag Group has announced that it posted consolidated profit of EUR 11.1 million in 2017. This is Hapimag’s best annual result for over 15 years.
The operating results of EUR 12.9 million are also pleasing. The Hapimag resorts made a significant contribution to the improved operating performance. Total revenues at the resorts increased by 2.5 % to EUR 86.4 million compared to the previous year.
“We are delighted that we haven’t had to compromise on the quality of our services despite this cost optimisation. We again received 17 HolidayCheck Awards thanks to good ratings from guests,” says Hassan Kadbi, who has been Hapimag’s CEO since November 2016. “What’s more, the Albufeira, Ascona and Scerne di Pineto resorts even received the Gold Award. That is something of which I am very proud.” Guest satisfaction was very high at 84.5 % (an 0.5 % increase over the previous year).
Investments in 2017 amounted to EUR 62.2 million (previous year: EUR 20.8 million). This figure includes expenditure on the two new buildings in Cavallino and Steinhausen and the renovation of the London, La Madrague and Porto Heli resorts. The renovations accounted for expenditure of EUR 25.6 million in the year under review (previous year: EUR 12.5 million).
