Valamar Riviera has revised its 2015 outlook to reflect higher expected consolidated operating income and EBITDA as a result of (i) higher operating income directly impacted by facility operations during the New Year’s holidays and (ii) achieved operating expenses savings. Due to new circumstances, in 2015, we expect to achieve consolidated operating income ranging from HRK 1,290 million to HRK 1,300 million (earlier announced range: from HRK 1,270 million to HRK 1,290 million), resulting in a 17.6% to 18.5% growth compared to 2014 (HRK 1,097 million). In the business year 2015, the expected EBITDA (without adjustments for extraordinary revenues and expenses, as well as one-off items) will range from HRK 420 million to HRK 425 million (earlier announced range: from HRK 405 million to HRK 415 million), representing a 47.9% to 49.7% growth compared to 2014 (HRK 284 million) and resulting in an unadjusted EBITDA margin ranging from 32% to 33% compared to 26% achieved in 2014.

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