Business Volume of Tourism Operations Markedly Increased by 85% YoY
Business Volume and EBITDA of Club Med Return to Pre-pandemic Levels
Results Highlights:
- In 2022, Business Volume of the Group's tourism operations increased 85% YoY relative to the same period last year. Adjusted EBITDA turned positive by a notable extent, up from RMB213million in 2021 to RMB2,345 million in 2022. Loss attributable to equity holders narrowed significantly from RMB2,719 million in 2021 to RMB545 million in 2022
- In 2022, the Business Volume of Club Med amounted to RMB12,011 million, representing a year-on-year surge of 108% and recovering to 99% of the volume in the same period of 2019
- For Atlantis Sanya, although its Business Volume for the year declined due to the pandemic situation in China, having outstanding product competitiveness, it maintained strong momentum in the first two months when the pandemic was under control and in July of 2022
- Stable development of new projects in 2022. Business Volume of Lijiang Foliday Town increased more than nine times year-on-year. Taicang FOLIDAY Town progressed smoothly and is scheduled for opening in the second half of 2023.
- At travel restrictions around the world easing further, the Group's businesses in China and overseas rebounded strongly. In the first two months of 2023, the Business Volume of Club Med rose by 55% as compared with the same period of 2022. The Business Volume of Atlantis Sanya and Lijiang Foliday Town rose by 10% and 149%, respectively, against the same period of 2022
HONG KONG, March 26, 2023 /PRNewswire/ -- Fosun Tourism Group ("Fosun Tourism" or the "Group", Hong Kong Stock Exchange Stock Code: 1992), a world-leading leisure-focused integrated tourism group, announced today its annual results for the year ended 31 December 2022 (the "Year"). During the Year, despite the COVID variant Omicron (the "Pandemic") spreading worldwide, with major customer source countries relaxing pandemic-related travel restrictions, the Group's business in EMEA and the Americas continued on the significant recovery track and recorded strong growth.
During the Year, the Business Volume1 of resorts and destination operations and tourism and leisure services and solutions (collectively "tourism operation") (at constant exchange rate) amounted to RMB14,503 million (2021: RMB 7,853 million), representing a 85% growth year-on-year. The Group's revenue climbed to RMB13,778 million (2021: RMB9,261 million), increased by 49% year-on-year; Adjusted EBITDA was RMB2,345 million (2021: RMB213 million).
1 Business Volume represents the aggregate sales of resort service, tourism destination operation and other tourism-related services and solutions, regardless of whether the resort is owned, leased or managed.
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