PPHE Hotel Group (PPH) 2019年年度报告「LSE」.pdf

1、THE VALUE WE CREATEANNUAL REPORT AND ACCOUNTS 2019OUR PURPOSECreating valuable memories for ourguests and value for our assets,people and local communities.WHO WEAREWe are an international hospitality group with a strong prime real estate portfolio consisting of 45properties under operation in five

2、countries,that transforms an assets potential into value and profits.WHAT WE DOWe have a clear strategy todrive growth and create longterm value while recognising and developing opportunities to help ourassets reach their full potential.We delight our guests every day,through engaging service and qu

3、ality products ininviting places.HOW WE DOITBy valuing our people,being led by an entrepreneurial Board and through investing in our portfolio,opportunities with upside potential and local communities.INVESTMENT PROPOSITIONAsset value growth We develop our own assets and have grown our EPRA NAV per

4、share by 300%over the past decade.EPRA NAV per share at31December 2019 was 25.46Operating earningsAdjusted EPRA earnings per share for the 12 months to 31 December 2019 at 128 penceHealthy leverageNet bank debt leverage ratio of29.4%as at 31 December 2019 and our growth since IPOhas beenfunded witho

5、ut diluting shareholders Progressive dividend policy Dividend has grown with a 16.6%CAGR over the past five years(excluding special dividend of 1per share in2016).The total ordinary dividend for the year ended 31 December 2019 is 37pence per share,representing ayear-on-year growth of 5.7%Attractive

6、pipelineAttractive development pipeline inHoxton London,New York City,Belgrade and ZagrebPAGE 4About usPAGE 12President&ChiefExecutive Officers statementPAGE 24Holmes Hotel LondonPAGE 8Chairmans statementTHE VALUE WE CREATEPAGE 28Arena Kaela CampsitePAGE 1030 years of PPHE Hotel GroupPAGE 22Driving