Scandic Hotels : Confirmation of our caution on the stock: Underperform maintained
>Operational momentum remains just as unfavourable - Scandic’s earnings release brought no major surprises, the group remains hard hit by the very low level of activity (occupancy rate of just 23% in Q4) and the impact of fixed costs on profitability, despite all of the effort made in terms of cost-cutting, notably on the renegotiation of rents (for a total of SEK 900m to be booked between 2020 and 2022, half of which in 2021). The very short term also remains on a ne...Scandic Hotels Group AB is a Sweden-based company engaged, along with its subsidiaries, in the operation of hotels. The Company's main market in which the Group operates in: Sweden, which includes Swedish hotels that are operated under the Scandic brand; Norway, which includes Norwegian hotels that are operated under the Scandic brand, and Other Nordic countries & segments include hotel operation in Belgium, Denmark, Finland, the Netherlands, Poland and Germany, as well as the hotel concept HTL, which is operated by the sub-group HTL Hotels. The Company operates a network of approximately 224 hotels and almost 42,000 hotel rooms in seven countries. Scandic Hotels Group AB is a wholly owned subsidiary of Sunstorm Holding AB.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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