Brief: Scandic Hotels Group Q4 Adjusted EBITDA Swings To Profit Of SEK 436 Mln

Scandic Hotels AB

10/02/2022 06:42

Feb 10 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC'S YEAR-END REPORT 2021 - POSITIVE RESULTS &
STRENGTHENED
CASH FLOW
    * Q4 NET SALES SEK 3.78 BILLION VERSUS SEK 1.38 BILLION YEAR
AGO
    * Q4 ADJUSTED. EBITDA SEK 436 MILLION VERSUS LOSS SEK 282
MILLION
YEAR AGO
    * SIGNIFICANT STRENGTHENING OF DEMAND THAT STARTED DURING
SUMMER
CONTINUED INTO OCTOBER AND NOVEMBER
    * OMICRON VARIANT LED TO NEW RESTRICTIONS DURING DECEMBER,
WHICH
RESULTED IN LOWER OCCUPANCY DURING FINAL WEEKS OF 2021
    * IN ONLY SIX MONTHS, WE MANAGED TO REDUCE NET DEBT BY JUST
OVER
1,300 MSEK
    * WILL RENEGOTIATE ABOUT 15 PERCENT OF LEASES THAT WILL
EXPIRE IN
2022/23.

Source text for Eikon:  ID:nWkr1nBkRg 
Further company coverage:  SHOTE.ST 

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