Q1 2026 Scandic Hotels Group AB Earnings Call Transcript
Key Points
- Scandic Hotels Group AB (FRA:10H) reported a revenue growth of 3%, with organic growth close to 5% after adjusting for currency effects.
- The company maintained high operational efficiency and good cost control, resulting in an adjusted EBITDA of SEK105 million, with a margin of 2.2%.
- Cash flow improved during the quarter, and the financial position remains strong, with a net debt of SEK510 million and a leverage of 0.2 times.
- The hotel pipeline is robust, with plans to open eight new hotels this year, including several Scandic Go hotels, supporting expansion in the economy segment.
- The acquisition of Dalata is progressing well, with strong collaboration and expected completion in the second half of 2026, potentially leading to synergies and growth opportunities.
- The quarter was negatively impacted by higher energy costs due to cold weather, resulting in increased electricity and heating expenses of around SEK40 million.
- Finland's performance was weaker due to ongoing renovations at the largest hotel and congress center in Helsinki, leading to a lower result year-over-year.
- The early Easter had a negative calendar effect, particularly impacting results in Sweden and Norway.
- Norway's margin was slightly down year-over-year, partly due to cost inflation and tough comparables from last year's World Ski Championships.
- The ongoing geopolitical uncertainty, including the conflict in the Middle East, poses potential risks, although no direct impact on demand has been observed yet.
Thank you very much and good morning, everyone, and thank you for joining us for this Q1 presentation. Like just said, Iâm Jens Mathiesen, Iâm the CEO of Scandic, and together with me we have our CFO, Par Christiansen.
Letâs go into the highlights of this quarter. Please go to page 2. Looking at the quarter, we are off to a good start to this year with stable growth and solid results. Revenue, they grew by 3%, and adjusting for currency effects, organic growth was close to 5%.
We operate with high efficiency and very good cost control, delivering a result and margin in line with last year. Market conditions, they remain positive overall, and we continue to see good demand across our markets, although development varies somewhat.
Cash flow improved during the quarter, and our financial position remains strong, giving us a solid foundation going forward. The second quarter has started well. Business and books are at good levels, supported by strong leisure demand, stable business travel, and a solid
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
