Sweden's Pandox Q2 lease revenue rises 34%, net income falls
Sweden's Pandox Q2 lease revenue rises 34%, net income falls
Overview
Sweden hotel property owner's Q2 lease revenue rose 34% yr/yr; own operations revenue fell 6%
Q2 EBITDA grew 27% yr/yr
Net income for Q2 declined sharply from last year
Outlook
Company says booking activity remains stable and demand for travel is robust
Pandox says international arrivals to Europe increased, supported by intra-regional travel
Company says performance in Dalata portfolio is well in line with expectations
Result Drivers
LEASES SEGMENT GROWTH - Strong performance in the Leases business segment drove increases in revenue and net operating income, per CEO Liia Nõu
DALATA PORTFOLIO CONTRIBUTION - Dalata properties generated rental income with strong profitability and performance in line with expectations
ROBUST TRAVEL DEMAND - Stable booking activity, filled event calendars, and resilient demand for business and leisure travel supported results
Company press release: ID:nMFN9DvnXH
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue from Property Management |
| SEK 1.35 bln |
|
Q2 Cash Earnings |
| SEK 677 mln |
|
Q2 Net Income |
| SEK 219 mln |
|
Q2 EBITDA | Beat | SEK 1.41 bln | SEK 1.38 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 SEK215.00, about 26.8% above its July 14 closing price of SEK169.60
The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 13 three months ago
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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.)