Brief: Scandic Hotels Group AB - Q4 Net Sales Fell By 71 Percent To 1,377 Msek

Scandic Hotels AB

17/02/2021 06:34

Feb 17 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC'S YEAR-END REPORT 2020 - EXPECTED RECOVERY AFTER A CHALLENGING 2020
    * SCANDIC HOTELS GROUP AB - Q4 NET SALES FELL BY 71 PERCENT TO 1,377 MSEK (4,831).
    * SCANDIC HOTELS GROUP AB - Q4 OCCUPANCY DROPPED TO 23 PERCENT DURING QUARTER DUE TO
INCREASED
SPREAD OF CORONAVIRUS AND STRICTER RESTRICTIONS FROM AUTHORITIES IN ALL MARKETS.
    * SCANDIC HOTELS GROUP AB - Q4 ADJUSTED EBITDA WAS -282 MSEK (504)
    * SCANDIC HOTELS GROUP AB - RESULTS FOR QUARTER WERE IMPACTED POSITIVELY BY STATE AID OF 226
MSEK
AND RENTAL REBATES OF AROUND 180 MSEK.
    * SCANDIC HOTELS GROUP AB - AT END OF QUARTER, SCANDIC'S AVAILABLE LIQUIDITY, INCLUDING
CREDIT
COMMITMENTS, WAS APPROXIMATELY 1,900 MSEK.
    * SCANDIC HOTELS GROUP AB - AT PRESENT, AVAILABLE LIQUIDITY INCLUDING CREDIT COMMITMENTS
AMOUNTS
TO APPROXIMATELY 1,400 MSEK.
    * SCANDIC HOTELS GROUP AB - FOR FEBRUARY, OCCUPANCY RATE IS EXPECTED TO BE AROUND 18
PERCENT.
    * SCANDIC HOTELS GROUP AB - INITIALLY WE EXPECT THAT DEMAND WILL BE DRIVEN BY INTRA-NORDIC
TRAVEL
    * SCANDIC HOTELS GROUP AB - WE EXPECT THAT PACE OF RECOVERY WILL GRADUALLY INCREASE
    * SCANDIC HOTELS GROUP AB - OCCUPANCY DURING SUMMER WILL BE HIGHER THAN IT WAS DURING
CORRESPONDING PERIOD LAST YEAR

Source text for Eikon:  ID:nWkr5yVtyL 
Further company coverage:  SHOTE.ST 

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