Sol Meliá operating profits increase by 37% in 1999

The hotel company Sol Meliá has ended 1999 achieving the objectives that had been set for the year with operating profits before interest, amortisation and taxes (EBITDA) of 33,348 million pesetas - 200 million euros -, an increase of 37% over 1998. Consolidated revenues for the company grew to 109,572 million pesetas - 659 million euros -, a 19% increase over the previous year. Net consolidated profits for Sol Meliá in 1999 stood at 15,565 million pesetas -93.5 million euros-, a 20% increase over 1998.

The shares in Sol Meliá, the first Spanish hotel company to be quoted on the stock markets, saw an increase of 13.41% in their value during 1999, reaching a price of 11.25 euros by the end of the year. For the year 2000 to date, the value of Sol Meliá shares has increased to 12 euros, a further increase of 6.67%.

The company ended 1999 having added a total of 27 hotels in Argentina, Belgium, Croatia, Cuba, the Dominican Republic, France, Greece, Mexico, Portugal, Spain, Tunisia, the United Kingdom and Venezuela, 13 of which are owned by Sol Meliá.

Sol Meliá: Press release

Date of publication: 04/03/2000

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