Scandic’s interim report Q2 2020 – Recovery at the end of the quarter
Second quarter in summary · Net sales decreased 86% to 665 MSEK (4,853) as a result of extremely low levels of demand caused by the spread of the coronavirus. · Occupancy dropped to a historically low level in April but began to increase gradually in May and June. The rate of improvement accelerated in June as the summer vacation started. · Adjusted EBITDA amounted to -1,138 MSEK (559). The negative effect on results was decreased by significant cost reductions combined with state support. · Excluding the effects of finance leases and items affecting comparability, earnings