The Fattal hotel chain concluded the third quarter with a net profit of NIS 94 million

The Fattal hotel chain concluded the third quarter of 2021 with a net profit attributable to shareholders of NIS 94 million, compared to a net loss of NIS 270 million in the corresponding quarter in 2020, according to the financial reports published by the company today (Tuesday). Despite the reports The Promisers, the group's share, which is controlled by David Fattal, is down 1.5% today (Tuesday) and completes a decline of more than 12% in two weeks.
The reports reflect well the opening of the economy to activity in February 2021 and the recovery in Europe, including the United Kingdom and Ireland. The company's cash flow (less rent) jumped 209% in the third quarter to NIS 553 million, compared to NIS 179 million in the corresponding quarter in 2020. Fattal managed to move from a cash flow operating loss of NIS 73 million in the third quarter of 2020 to EBITDA (profit Before interest, taxes, depreciation and amortization) positive of NIS 339 million in the third quarter of 2021.
Following the successful quarter, the company improved its forecasts for 2021, and estimates that it will end the year with revenues of NIS 3.5-3 billion and EBITDAR of NIS 1.25-1.1 billion.