NH Hotels: No takeover bid… but in top 4 of continuous market

NH Hotels: Without a takeover bid and with low liquidity... but in the top 4 of the continuous market

NH Hotels presented its quarterly results on 8 Maywhen it was trading at 3.62 euro and rising for two consecutive sessions, Results that presented a substantial improvement in its accounts in general, but the company was never again able to register a profit.

In fact, March closed with a loss of 36 million euros, But they are a vast improvement, no less than the nearly 41 million registered in the same period last year. One of the strengths of the results was its large sales figure, which increased 74% to no less than 407 million euros.

But the comparison to last year, a quarter which is usually not particularly fruitful, was weighed down as the worst Omicron variant of Covid a year ago came into play and hence, limited foreign tourism to the maximum. Although the numbers are particularly good compared to before the pandemic, With an improvement of about 15%.

NH Hotels Results 1Q 2023

With good forecast and demand expected to pick up in the summer season, the company expects positive trends following a gross operating result of EBITDA of 59 million as compared to 9 million registered in the same period last year., January and March are usually the months with the least positive figures on a company’s balance sheet.

And after the presentation of the results, CNMV, National Securities Market Commission suspended the listing of NH Hotel Group in the market. And that’s Minor International, the Thai company that owns 94% of the group, He wanted to capture the entire group. that 6% announced that they would buy shares in the Madrid stock market for 30 dayssa at a price not exceeding 4.50 euros per share of the company and avoid takeover bids with possible consideration of delisting the company, mainly due to its current low liquidity

But the CNMV refused the Thai group, which forced it to withdraw its offer. After not specifying whether it would launch a public offering for the sale of shares in accordance with Spanish stock market regulations. Above all, because the regulator told him that he could not mark up an established price without launching a takeover bid and that if he wanted to buy the shares, he would have to do so at market value. Thus, it is finally established, that too without the intention of giving out the listing price. Lastly, Miner has confirmed that it will acquire shares of NH during those 30 days, no more.

effect of withdrawal of verbs, With intraday growth of 20%, this has resulted in a continuous consolidation of upward sessions For the price, which broke down a bit yesterday, with an accumulated gain of 17.5% in six trading days. Thus the balance for the last four weeks for NH has reached 11.6 per cent and has been maintained so far this year.Among the majors in the continuous market with a gain of 40.6%.

NH Hotels Annual Price Quote

It goes without saying that trading has been exponentially higher than normal in recent days since the market’s return, with 49x higher than the previous day’s numbers. With regard to the premium force indicators prepared by Estratégias de Inversion, we have verified that, with this change, it turns from strong to very strong with a very strong medium term and a strong long term for the price.

Indicators of external premium of NH Hotel EI

From Alphavalue they highlight their target price per share with a range of up to EUR 4.62, With advice to add or buy, while in the case of Bankinter, the operation highlights that this is good news for the company because, Although it has indicated that it will not present a takeover bid, the market already knows that the miner is willing to buy, Which increases the attractiveness of the price and makes it possible in the future. However, he believes that this is a good opportunity to sell due to the low liquidity of the price in the continuous market.

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