Brief: Scandic Q2 Operating Profit Falls To SEK 833 Million

Scandic Hotels AB

14/07/2023 07:18

July 14 (Reuters) - Scandic Hotels Group AB  SHOTE.ST :
    * SCANDIC'S INTERIM REPORT Q2 2023 - STRONG QUARTER WITH
HIGH
ACTIVITY AND POSITIVE OUTLOOK
    * Q2 NET SALES ROSE BY 7.9 PERCENT TO 5,693 MILLION SEK
(5,276).
    * Q2 AVERAGE OCCUPANCY RATE WAS 63.0 PERCENT (63.2).
    * Q2 OPERATING PROFIT TOTALED 833 MILLION SEK (1,016).
    * Q2 ADJUSTED EBITDA WAS 772 MILLION SEK (1,083).
    * WE FORESEE A STRONG Q3 DRIVEN BY CONTINUED HIGH LEVELS OF
LEISURE TRAVEL DURING SUMMER
    * WE ALSO EXPECT BUSINESS TRAVEL TO PICK UP TOWARD END OF
QUARTER.
    * WE ANTICIPATE OCCUPANCY RATES ALIGNED WITH CORRESPONDING
PERIOD
LAST YEAR AT HIGHER AVERAGE ROOM RATES.

Source text for Eikon:  ID:nWkr4fVVWP 
Further company coverage:  SHOTE.ST 

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