Scandic Hotels : No major surprises from the Q2 earnings: Underperform rating maintained
>Q2 earnings broadly in line with forecasts, impacts on FCF linked mainly to the capex increase - Scandic Hotels has reported this morning Q2 results broadly in line with forecasts. Group RevPAR was up 5.2% y-o-y over the quarter (a catch-up related to the timing of Easter, which penalised Q1 at -1.1%), driven by price increases (+3.4%) and occupancy rates showing slight growth at 1 point (in line with management’s forecasts). Group revenues at SEK 5,871m are up 3.1% ...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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