Radisson publishes like-for-like revenue increase and EBITDA margin for 2018 and forecast for 2019 and impact of IFRS 16

In line with Radisson Hospitality AB (publ)'s (the "Company" or "Radisson") guidance provided in the Interim Report for January-September 2018, the like-for-like revenue, including hotels under renovation, has increased by 4.5% in 2018 compared to 2017. The EBITDA margin for the full year 2018 was 10.8%, which is also in line with the provided guidance.

In line with Radisson's 5-year operating plan which has previously been communicated, Radisson expects like-for-like revenue, including hotels under renovation, to grow between 4.5 and 5.0% in 2019, with an EBITDA margin between 12.0 and 12.5%, excluding any impact of the implementation of the new accounting standard IFRS 16 Leases.

The IASB and the Financial Accounting Standards Board issued in January 2016 the IFRS 16 Leases to replace the IFRS 17 standard, which imposes significant changes to current lease accounting practice. The introduction of the new accounting standard IFRS 16 Leases is estimated to have an impact on recognised lease liabilities of €400-450m per January 1, 2019. Earnings before tax is estimated to be negatively impacted by between €15m and €20m in 2019, based on the current portfolio of lease contracts. Additional details regarding the impact of the new lease standard will be provided in the Year-End Report for 2018.

Please note that the information above is subject to review by Radisson's auditor.

Radisson's Year-End Report for 2018 is scheduled to be published on 22 February 2019.

Mandatory public offer
On 11 December 2018, a consortium led by Jin Jiang International Holdings Co., Ltd., including SINO-CEE Fund, through the joint acquisition vehicle Aplite Holdings AB (the "Consortium"), announced a mandatory public offer which, on 4 January 2019, was increased to a total of SEK 42.50 in cash per share (the "Offer"). On 14 January 2019, the independent committee of the Board of Directors of Radisson (the "Committee") announced its statement regarding the increased Offer. The Committee notes that the acceptance period in the Offer will expire on 4 February 2019.

The Committee has resolved to disclose the information set out above following a request from a minority shareholder to provide information regarding the Company's position. The information is disclosed to procure that the shareholders have further information when assessing the merits of the Offer. The Committee is of the opinion that the information in this press release is in line with what has previously been communicated.