The National Securities Market Commission (CNMV) has decided to provisionally suspend, with immediate effect, the listing of NH Hotel Group after presenting its results, with losses of 36 million euros in the first quarter of the year, a figure that represents an improvement from 40.9 million euros compared to the same quarter of 2022.

Specifically, the CNMV adopted this decision in the middle of the session, around 12:00, “while relevant information is disseminated.” At that time, the company’s shares were trading at a price of 3.62 euros, with a rise of 0.97%.

The hotel group has recalled that the January-March period is the “weakest” due to the seasonality of the business.

Despite this, the company shot up its total revenue in the first quarter to 407 million euros, 74.2% more than in the same quarter of 2022, which was affected by the restrictions of the Omicron variant of Covid. With this volume of revenue, NH exceeds by 15.4% those obtained in the first quarter of 2019, in the absence of a pandemic.

NH’s gross operating result (Ebitda) reached 59 million euros between January and March, multiplying by more than six the Ebitda obtained in the first quarter of 2022, and compared to 83 million in the first three months of 2019.

The group’s liquidity exceeds 480 million euros after the voluntary repayment last January of the remaining 50 million of the ICO loan for an amount of 250 million received in the pandemic.

NH’s net financial debt now amounts to 340 million euros, which represents an increase of 33 million euros, due to the seasonality of the period and the CapEx investments of 23 million euros made in the first quarter of the year.