Investor Presentation July, 2017
Disclaimer This material has been prepared exclusively for informational and promotional purposes. Its intention is to inform about the business strategy of Tatry mountain resorts, a.s., with its registered office at Demänovská Dolina 72, Liptovský Mikuláš 031 01, Identifications Number: 31 560 636, registered in the Commercial Registry of District Court of Žilina, Section: Sa, Insertion No. 62/L (hereinafter referred to as “TMR”). TMR’s shares are listed on the parallel market of the Bratislava Stock Exchange and on the main markets of the Prague Stock Exchange and the Warsaw Stock Exchange . The company’s share capital consists of 6 707 198 bearer shares booked on the bearer with a nominal value of 7 € per share. TMR has been allocated ISIN SK11 20010287. Information contained in this material is based on historical data and may contain forecasts of future performance. Predictions are based on rational expectations supported by objective data. Predictions are not reliable indicators of future performance and they are not binding. TMR is not liable for any of the predictions contained in this material. Future figures of TMR can differ from predictions given in this presentation. This material is owned exclusively by TMR. Any distribution, duplication, publishing, copy or record of this information, or any part of it contained in this material is forbidden without prior approval ofTMR. Any distribution of this presentation or any part of it beyond the territory of the Slovak Republic can be either restricted, or prohibited by law of the third state. 2
We are here to revolutionize tourism in Central Europe! 3
TMR at a Glance Leading and the only “Alpine style” mountain tourism services provider in the CEE region Natural monopoly – no mountains comparable to the Tatras in the region Increasing quality with infrastructure investments of EUR 230 million during the last 10 years Significant (double digit) increases in revenues (cum. 103%) and EBITDA (cum. 124%) in the last 5 years as a result of investments, acquisitions, and strong pro-customer orientation 4
TMR’s Strategy Who We Are and What We Do 5
Our Potential Long History of Tourism in the Tatras Cultural and Natural Heritage 6
Challenges Mountain Resorts in 2005 7
Who We Are Today 8
Business Model Overview I. M OUNTAIN & L EISURE Segment (M&L) II. H OTELS Segment Mountain Resorts – 3 resorts in the High and 12 owned and/or managed hotels Low Tatras (SK), and Poland (97%) 774 rooms, 2,000 beds Leisure Parks – Luxurious wellness spa facilities Ongoing hotel upgrades, additions Aquapark Tatralandia (SK) Silesian Amusement Park (75%, PL) Dining – 27 dining facilities on and off the slopes III. R EAL ESTATE Segment Total chair capacity of 3,630 4 hotels leased to third parties Sports Stores & Services – Tatry Motion Sale of recreational real estate Ski schools, 1,577 m2 of total retail space, 1,259 rental skis & Holiday Village Tatralandia, Chalets Jasná de Luxe snowboards Center M&L Segment Breakdown Revenues by Segments* 8% Mountain Resorts 1,0% 18% Leisure Parks 74% 25% Dining 17% Sport Services & 57% Stores M&L Hotels Real Estate 9 * FY 2015/16
Mountain Resorts Vysoké Tatry (The High Tatras, Szczyrk (Szczyrkowski o ś rodek Jasná Nízke Tatry (The Low SK) narciarski, Beskids, PL) Tatras, SK) 97% interest Tatranská Lomnica – Starý Chopok North – Chopok South Smokovec – Štrbské Pleso EUR 60m of investments planned 49 km of ski trails 24 km of ski trails 25 km of ski trails 28 cableways and lifts 20 cableways and lifts 13 cableways and lifts Max. transportation capacity of Max. transportation capacity of 32,684 persons/hour Max. transportation capacity of more than 21,615 persons/hour 8,700 persons/hour. 33 km of ski trails with 20 km of ski trails with snowmaking 11 km of ski trails with snowmaking snowmaking Summit elevation: 2,004 m a.s.l. Summit elevation: 2,625 m a.s.l. Summit elevation: 1,211 m a.s.l. Base elevation: 880 m a.s.l. Base elevation: 805 m a.s.l. Base elevation: 620 m a.s.l. Vertical drop:1,124 m Vertical drop: 1,820 m Vertical drop: 591 m 13 dining facilities 8 dining facilities Tatry Motion stores & services Tatry Motion stores & services 10
Leisure Parks Legendia - Silesian Amusement Park/ Śląskie Aquapark Tatralandia (Liptov, SK) Wesołe Miasteczko (75%, PL) 14 (10 year-around) swimming pools with Location: Park Śląski ( Silesian Park) at Chorzów, PL thermal, sea, and clear water Area: 26 ha 21 steam, water and masage saunas, baths and 42 attractions procedures The largest and oldest park in Poland 26 toboggans and waterslides (6 year-round) and 300 other attractions Planned investments EUR 30 mil. Tropical Paradise, Wellness Paradise, Funpark Tatralandia Hotel – HolidayVillage Tatralandia 5 dining facilities 11
Hotels Hotels – The Low Tatras Hotels -The High Tatras Wellness Hotel Grand Jasná**** Grandhotel****, Starý Smokovec Chalets Jasná De Luxe**** Grandhotel Praha****, Tatranská Tri Studničky Hotel**** Lomnica HolidayVillage Tatralandia Hotel FIS***, Štrbské pleso Mountain hotel Hrebienok Hotel Srdiečko** Hotel Rotunda Hotel Kuku čka **** (managed) Hotel Po šta 12
Real Estate Lease of hotels and lodging facilities Sale of recreational real estate to third parties HolidayVillage Tatralandia Hotel Liptov Chalets Jasná de Luxe Center – Hotel Ski & Fun Záhradky construction, sale, operation Kosodrevina Lodge Otupné 13
Our Market Potential TMR Mountain Resorts’ Visitors in SK “Natural monopoly” position (no other similar During Winter 2016/17 places in the region to provide the “Alpine resorts feel” except for the Tatras) 68% No competition within 1000 km east of TMR resorts Slovakia 7% Poland 7.5 million people living within 200 km 3% Czech Rep. Long tradition of visitors from CEE 8% 14% Hungary Easy access by plane Other More affordable than Alpine resorts Target Groups (through): Slovaks (massive marketing campaigns) Segmentation Polish (massive marketing campaigns) Affluent clientele Czech (still benefiting from the common past; no language barrier) Luxury and prestige of the hotels in the High Tatras Russian-speaking (driving distance unlike Alpine resorts) Mainstream New markets (Baltic & UK via new airline Jasn á , Nízke Tatry tailored to the young, connections) families, and sports enthusiasts 14
Great Potential in Regional Mountain Tourism Skiers by Country 16 000 40% Thousands 14 000 35% 12 000 30% 10 000 25% 8 000 20% 6 000 15% 4 000 10% 2 000 5% 0 0% Slovakia Poland Czech Ukraine Russia Austria Switzerland Germany Republic No. of National Skiers Skiers as % of Population 15 Source: Vanat, Laurent. 2016 International report on mountain tourism
Client Target Area in SK, Neighbors, and East 16
Our Strategy Based on 3 Pillars Strategic acquisitions Constant operations Increasing quality and expansion of & services with investments operation in CEE enhancement EUR 230 million over 10 Aquapark Tatralandia 2011 Enhancing customer • • • years • Špindlerův Mlýn ski resort experience through • New modern cableways (9.5%, CZ) synergies Renovating hotels • Korona Ziemi (7%, PL) • Focus on affluent clientele • • Expanding resorts • Szczyrk ski resort, PL • Trendsetter in the region Capitalizing on completed Quality management • • 2014 investments • GOPASS loyalty program • Silesian Amusement Park • Modernization of SON and e-shop (75%, PL) 2015 and Silesian Amusement Innovative technologies • Park 17
Our Assets Grow through Capital Investments Fixed Assets 350 000 € Total of EUR 230 million invested into 300 000 € development of our resorts and hotels 250 000 € thousands 200 000 € in the last 10 years 150 000 € 2013 ends Investment phase I – 100 000 € 50 000 € “The New Era of the Tatras” 0 € EUR 190 mil. invested 2008 2009 2010 2011 2012 2013 2014 2015 2016 Transportation capacity increased by 17,000 to total 54,069 persons/ hour CAPEX Breakdown Investment Phase I 10 newly built ski lifts, total 50 0% 9% 1% Additional 25 km of snowmaking, total 5% 4% 50 km 671 snow guns 25 dining facilities built on slopes 81% Mountain Resorts Aquapark Dining Sport Services & Stores Hotels Real Estate 18
EUR 230 million CAPEX in last 10 years Tropical ParadiseTatralandia Funitel Jasná Nízke Tatry Tropical ParadiseTatralandia 15-seat Kosodrevina, Chopok, Jasná Nízke Tatry 19
EUR 230 million CAPEX in last 10 years Chalets Jasná de Luxe**** Surf Wave, Aquapark Tatralandia 15- seat gondola, Vysoké Tatry Rotunda, Jasn á 20
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