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Investing.com -- Scandic Hotels Group AB (ST:SHOT) on Wednesday reported third-quarter results that were broadly in line with consensus estimates, with net sales reaching SEK 6,372 million, up 3.1% year-over-year and 5.3% organically.
The hotel operator’s adjusted EBITDA came in at SEK 1,088 million, representing a 1% increase from the same period last year, with a margin of 17.1%, slightly down from 17.4% in Q3 2024. The company attributed the margin decline to currency effects and increased commercial development activities.
RevPAR (revenue per available room) rose 2.7% to SEK 966, while occupancy improved to 74.2% from 71.4% in the third quarter of 2024, demonstrating sustained demand recovery and effective commercial execution.
By region, Sweden generated SEK 2,023 million in net sales (+8.0% year-over-year), while Norway contributed SEK 1,897 million (+6.4%). Finland saw a decline of 7.5% to SEK 1,212 million, and Other Europe posted SEK 1,240 million (+2.1%).
Looking ahead to the fourth quarter, Scandic expects occupancy rates to be on par with the previous year, with slightly higher average price levels. The company cited a solid booking situation and strong commercial momentum supporting this outlook.
The previously announced acquisition of Dalata is progressing as planned, with closing expected in early November. This acquisition will provide Scandic with a strategic entry into the Irish and UK markets.
Scandic maintained a strong financial position with a net debt to adjusted EBITDA ratio of 0.0x, unchanged from the same period last year.
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