Pandox Q4 EBITDA rises 22% adjusted for acquisition costs

Pandox AB

05/02/2026 06:11

Overview

Hotel property owner's Q4 revenue from leases rose 22%, own operations fell 3%

Q4 EBITDA beat analyst expectations, adjusted for Dalata acquisition costs

Company completed acquisition of Dalata Hotel Group, adding 31 properties

Outlook

Pandox expects Dalata acquisition to increase rental income by MSEK 1,145 annually

Company anticipates favorable macroeconomic conditions to support hotel market growth

Pandox proposes dividend increase to SEK 4.50 per share

Result Drivers

DALATA ACQUISITION - Acquisition of Dalata Hotel Group added 31 properties, significantly boosting net operating income and contributing to EPRA NRV

LEASE REVENUE GROWTH - Revenue from leases increased by 22%, driven by the inclusion of Dalata properties

MACROECONOMIC CONDITIONS - Improving macroeconomic conditions are expected to support growth in the hotel market, per CEO Liia Nõu

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q4 Revenue from Property Management
SEK 1.15 bln
Q4 Cash Earnings
SEK 403 mln
Q4 Net Income
SEK 1.71 bln
Q4 EBITDA
Beat
SEK 999 mln
SEK 969 mln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"

The average consensus recommendation for the real estate rental, development & operations peer group is "buy"

Wall Street's median 12-month price target for Pandox AB is SEK240.00, about 25% above its February 4 closing price of SEK192.00

The stock recently traded at 15 times the next 12-month earnings vs. a P/E of 16 three months ago

Press Release: ID:nMFN5ylWZZ

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)