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Investing.com -- Swedish hotel property owner Pandox AB (ST:PANDXb) posted a 2% year-on-year increase in group revenues to MSEK 1,903 in Q2 2025, supported by recent acquisitions.
Net operating income rose 3% to MSEK 1,162, while EBITDA came in at MSEK 1,110, up from MSEK 1,082.
The company’s shares fell nearly 3% following the report’s release.
Cash earnings increased to MSEK 587, though cash earnings per share dipped slightly to SEK 3.02 from SEK 3.05.
Profit for the period was MSEK 713, broadly unchanged year-on-year.
Changes in property values contributed MSEK 512, primarily from unrealised gains on investment properties, while the value of derivatives decreased by MSEK 285.
EPRA NRV per share improved to SEK 209.82 from SEK 207.55 in Q1, reflecting positive valuation effects and currency movements.
The company’s loan-to-value ratio stood at 46.7%, and the interest coverage ratio was 2.7x.
Pandox expects the hotel market to remain seasonally strong and notes stable booking levels in its operations.
Management highlighted that “comparison figures are expected to gradually become less challenging,” supported by a favourable event calendar including a major U.K. tour and trade fairs in Germany.
The company sees continued consumer prioritisation of travel and experiences, and said its financial position allows for further acquisitions and investments.