Brief: Scandic Hotels Group Q1 Adjusted EBITDA Loss Widens To SEK 775 Mln

Scandic Hotels AB

28/04/2021 06:35

April 28 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC'S INTERIM REPORT Q1 2021 - WELL PREPARED FOR A
RECOVERY
    * Q1 NET SALES DECREASED BY 72 PERCENT TO 930 MSEK (3,343)
    * Q1 ADJUSTED EBITDA WAS -775 MSEK (-174)
    * RESULTS FOR QUARTER WERE IMPACTED POSITIVELY BY STATE AID
OF 247
MSEK AND RENT DISCOUNTS OF APPROXIMATELY 143 MSEK
    * THIS SUMMER,  OCCUPANCY IS EXPECTED TO BE HIGHER THAN LAST
YEAR,
DRIVEN BY BETTER DEMAND IN BIG CITIES
    * AT BEGINNING OF APRIL, OCCUPANCY WAS AT ABOUT SAME LEVEL
AS
DURING Q1, BUT IT HAS SINCE INCREASED SLIGHTLY AND WAS AROUND
22% IN LAST WEEK
    * EXPECTS SIGNIFICANT POSITIVE EFFECT ON DEMAND AS
RESTRICTIONS
ARE EASED
    * ON BUSINESS TRAVEL: SEES PENT-UP DEMAND FOR MEETINGS THIS
AUTUMN
AMONG CUSTOMERS

Source text for Eikon:  ID:nWkr9HJ3Jk 
Further company coverage:  SHOTE.ST 

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