Q2 2026 Pandox AB Earnings Call Transcript
Key Points
- Pandox AB (FRA:POX) reported a 15% increase in total revenue and a 25% increase in net operating income for Q2 2026.
- The acquisition of Dalata contributed positively to the leases business segment, generating significant rental income.
- Cash earnings per share increased by 15%, demonstrating continued value creation for shareholders.
- The company's property portfolio is well-diversified, consisting of 191 hotel properties across 11 countries, with a market value of approximately 95 billion krona.
- Pandox AB (FRA:POX) is actively investing in climate change projects with good returns, based on SBTI-validated targets.
- The company's loan-to-value ratio slightly increased to 52.4% at the end of Q2 2026, compared to 52.3% in Q1.
- Own operations reported lower revenue due to the divestment of two hotel properties and negative currency effects.
- The interest coverage ratio has been deteriorating, raising concerns about financial stability.
- Brussels experienced weaker performance due to increased supply and weaker meetings demand.
- The refinancing of the Dalata acquisition facility is expected to incur additional costs, impacting financial results.
Welcome to the Pandocs Q2 presentation for 2026. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to Head of IR and Communication, Anders Berg. Please go ahead.
Thank you and good morning everyone on this beautiful summer's morning and to this presentation of Pandocs interim report for the second quarter 2026.
As introduced, I'm on the spare head of IR at Pandox, and I'm here together with Leono, our CEO, and Andy Lillienbloom, our CFO.
And today, we also have the pleasure of having both Ioife Roche, Vice President at STR, and Henrik Carlson from Benchmarking Alliance with us.
And Ioife and Henrik will provide a shorter hotel market update on Europe and Nordics respectively after we have concluded the formal earnings presentation call.
As SCR and Benchmarking Alliance are both leading independent research firms dedicated
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