Sweden's Pandox Q1 lifted by higher hotel occupancy, room rates

Pandox AB

29/04/2026 06:23

Overview

Sweden hotel property owner's Q1 lease revenue rose 26% yr/yr; own operations revenue fell 8%

Q1 EBITDA grew 26% yr/yr; net income rose to SEK 640 mln

Company completed previously announced divestment of Crowne Plaza Antwerp

Outlook

Pandox says hotel market remains strong, with occupancy and room rates driving RevPAR

Company projects slowdown in intercontinental arrivals from Middle East, Asia and USA in coming quarters

Pandox expects more European leisure travellers to take trips within Europe

Result Drivers

ACQUISITIONS - Co said higher lease revenue and net operating income were driven by the full-quarter inclusion of 31 properties from Dalata Hotel Group and earlier acquisitions

HOTEL MARKET DEMAND - Co cited good hotel demand in multiple markets, with RevPAR growth supported by both occupancy and higher average room rates

HIGHER INTEREST EXPENSES - Co said cash earnings growth was negatively impacted by higher interest expenses due to accounting treatment of a minority interest

Company press release: ID:nMFN4kY3Xn

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue from Property Management
SEK 1.07 bln
Q1 Cash Earnings
SEK 334 mln
Q1 Net Income
SEK 640 mln
Q1 EBITDA
Miss
SEK 977 mln
SEK 1.04 bln (2 Analysts)

Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "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 SEK226.50, about 25.4% above its April 28 closing price of SEK180.60

The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 16 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)