Brief: Scandic Hotels Q3 Adjusted EBITDA At SEK 709 Mln

Scandic Hotels AB

15/10/2021 07:17

Oct 15 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC REPORTS STRONG RESULTS AND CASH FLOW FOR THIRD
QUARTER
2021
    * NET SALES FOR Q3 AMOUNTED TO 3,734 MSEK WHILE ADJUSTED
EBITDA
TOTALED 709 MSEK
    * RESULTS WERE IMPACTED POSITIVELY BY 132 MSEK OF STATE AID
RECEIVED AND A REPAYMENT OF 44 MSEK
    * OVER 150 MSEK OF PROFIT IS ESTIMATED TO BE ATTRIBUTABLE TO
TEMPORARY EFFECTS FROM QUARANTINE-RELATED OPERATIONS IN NORWAY
    * EXCLUDING THESE ITEMS, ADJUSTED EBITDA AMOUNTED TO
APPROXIMATELY
380 MSEK, WHICH CORRESPONDS TO  MARGIN OF ABOUT 10%
    * NET DEBT DECREASED BY JUST OVER 500 MSEK DURING QUARTER.
    * OCCUPANCY RATE FOR Q3 WAS 55.1 PERCENT, WHICH IS MORE THAN
TWICE
AS HIGH AS DURING PREVIOUS QUARTER

Source text for Eikon:  ID:nWkr8zD7mq 
Further company coverage:  SHOTE.ST 

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