Scandic’s net sales for the third quarter amounted to 3,734 MSEK while adjusted EBITDA totaled 709 MSEK. The company’s results were impacted positively by 132 MSEK of state aid received and a repayment of 44 MSEK related to over-consolidation from the insurance company AFA. In addition, just over 150 MSEK of the profit is estimated to be attributable to temporary effects from Scandic’s quarantine-related operations in Norway. Excluding these items, adjusted EBITDA for the quarter amounted to approximately 380 MSEK, which corresponds to a margin of about 10 percent.

Thanks to strong cash flow, Scandic’s net debt decreased by just over 500 MSEK during the quarter.

Scandic’s occupancy rate for the third quarter was 55.1 percent, which is more than twice as high as during the previous quarter. The improvement has been driven by good demand for domestic leisure travel during the summer. Above all, there has been a clear improvement from historically low levels in the capital cities as a result of eased restrictions on gatherings and restaurants.

In connection with the holiday period starting to come to an end from the middle of August, the increase in business travelers and meetings has compensated for the decrease in leisure travel on weekdays. Additionally, demand on weekends continued to increase in September. Scandic is continuing to experience increased booking activity, not least for meetings, which is being driven by the gradual easing of restrictions in the company’s markets.

In light of these developments, Scandic has a positive view of market development for the coming months.

Scandic’s interim report for the third quarter will be published on October 28 at 07:30 CEST.

This information is information that Scandic Hotels Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out below, at 07:45 CET on October 15, 2021.

About Scandic Hotels Group

Scandic is the largest hotel company in the Nordic countries with a network of about 280 hotels with 58,000 rooms in operation and under development, in more than 130 destinations. The company is the leader when it comes to integrating sustainability in all operations and its award-winning Design for All concept ensures that Scandic hotels are accessible to everyone. Well loved by guests and employees, the Scandic Friends loyalty program is the largest in the Nordic hotel industry and the company is one of the most attractive employers in the region. Scandic is listed on Nasdaq Stockholm. www.scandichotelsgroup.com

Henrik Vikström
Director Investor Relations
+46 709 52 80 06
Scandic