We are very grateful for the support we received during the pandemic. We are proud of how we have developed Scandic and that we are now standing stronger than ever. As we have now launched initiatives to return capital to our shareholders, we see it as a natural step to also pay off the outstanding tax debt from the pandemic years in advance.

Scandic has established a strong commercial and financial position in recent years. We are well positioned for continued solid growth with good profitability and a more balanced risk profile, which is reflected in the financial targets. We also intend to return to ordinary dividends, and with the convertible loan behind us, we have freed-up capital that we now want to distribute to the shareholders.

This collaboration between Scandic and SAS demonstrates the power of the leading participants in the Nordic tourism industry to create value for millions of people on the move. The partnership creates strong incentives to choose both Scandic and SAS for hotel stays, flights and travel experiences. Together with SAS, I look forward to providing added value for our guests, members and company in the future.

We're thrilled to launch this partnership with Scandic, one of the most iconic Nordic hotel brands. By joining forces, SAS and Scandic are creating a unique offering that enhances the travel experience for our EuroBonus members. Together, we’re combining the strengths of two trusted Scandinavian brands to deliver even greater rewards and exclusive benefits both in the air and on the ground.

We're delighted to be opening our second Scandic Go in Stockholm. Since the start a little more than a year ago, our brand in the fast-growing economy segment has been well received by both guests and partners. Right now, I’m really looking forward to establishing a strong presence on Kungsholmen, an area of the capital that Scandic hasn’t operated in earlier. Stockholm is an important market for us, and we’re now sending a clear signal that we’re dedicated to continuing to provide fantastic options for travelers who want to focus on all that Stockholm has to offer.

We’re very much looking forward to the grand opening of Scandic Go Sankt Eriksgatan 20 today. The hotel is a clear example of how we actively create value as property owners. We acquired the property at the beginning of 2023 and since then have expanded, renovated and positioned the hotel together with Scandic. It is exciting to be a part of Scandic’s expansion in the economy segment, and the brand fits the hotel property and its central location very well.

Stuttgart is a strategically important city in Germany and the location of Scandic’s eighth hotel establishment in the country. The expansion will strengthen Scandic’s presence in the German hotel market in an important financial center where we see growing demand from both business and leisure travelers. I’m also delighted that we’ve signed a long-term lease agreement with AXA Investment Managers, a new partner for Scandic.

We see good opportunities to grow in Stuttgart, and together with AXA Investment Managers, we’ll carry out a significant renovation of the hotel so that more guests can enjoy Scandic’s renowned hotel experience and brand. The hotel’s excellent location also provides easy access to key attractions such as the central station, the historic old town, events and nearby offices.

Loyal and returning guests are central for us at Scandic. They drive our growth and create a strong and stable community around our brands. We now have a solid platform that will improve the member experience and have laid the foundation to continue developing the program and add new exciting partnerships. This will enable us to continue building long-term relationships with stronger incentives to choose Scandic for future hotel stays.

Creating a guest-focused loyalty program designed to make the most of every member interaction has been the fundamental focus during the entire development process. We have put a lot of emphasis on digital investments to enable and create an ecosystem we can develop over time. This is just the beginning, and I’m convinced that our members will appreciate the new features and offerings that we’ll gradually be adding.

We’ve been considering using office spaces for new Scandic Go hotels for some time, which is an important enabler to achieve our goal to add 1,000 to 1,500 rooms per year to our pipeline. Gothenburg, in particular, is a key destination for Scandic, where we have a strong presence in a robust hotel market. Umeå is also a stable market, attracting students and business travelers as well as summer and winter tourists. I am convinced that these new Scandic Go hotels in Gothenburg and Umeå will be the perfect complement to our existing hotel offering.

I’m really looking forward to establishing more Scandic Go properties in strong, attractive hotel destinations like Gothenburg and Umeå. We’re bolstering the position of our new brand, which is already well-loved by guests, and I’m hopeful about continuing to add even more Scandic Go properties to our hotel portfolio. I’d like to thank the property owners for their excellent collaboration, and I look forward to cutting ribbons at these two fantastic new hotels in 2026.

Training and securing the talents of the future has always been a success factor for us at Scandic. And just as in previous years, we’ll be eagerly following their progress. Leading a company that invests substantially in skills development is something I’m proud of, and I’m very much looking forward to meeting our new leaders all over the company for many years to come.

We can see that synergies and efficiency increase when we develop our team members. It is absolutely crucial to consider team members’ perspectives and ideas to succeed as a company, and this is also very much in line with how we work to incorporate trust and responsibility in our leadership.

By developing team members’ knowledge, we can ensure we remain a skilled organization, and it is incredibly exciting to see these 21 new industry talents take the next step in their careers. During the past seven months, they have worked with industry representatives, mentors and leadership experts to gain a broader understanding of the company, the hospitality industry and, of course, personal leadership development.

It’s gratifying that we’re continuing to expand Scandic Go to key destinations where we see growth opportunities and increasing demand from business and leisure travelers. The hotel’s strategic location in the city center complements our existing portfolio and addresses the lack of hotels in the economy segment in the region.

Oulu is the lifeblood for business and tourism in the region. The establishment is in line with our growth strategy in Finland, and by launching this new Scandic Go, we will strengthen our position in the region. We can also leverage market trends and fill a gap in a rapidly growing market. Together with SRV, we’re creating greater incentives to visit and explore northern Finland.

Together with Scandic, we are responding to the demand of Oulu's hotel market by developing the building into a central and important center for supporting tourism and business life. We are aiming that the hotel will be ready for Oulu's big events, such as the European Capital of Culture.

I want to extend a big thank you to Grant and Martin, who for many years have contributed to the board’s work in developing Scandic into the leading hotel operator in the Nordics. Both have taken on their assignments with passion and enthusiasm and have had a strong commitment to Scandic. I wish hem all the best for the future.

I’m extremely pleased that we’re continuing to expand in Germany, strengthening Scandic’s position in the European hotel market. By opening a hotel in another major city, we’re gradually establishing our Scandinavian brand in Germany and offering a hotel experience that appeals to a wide range of business and leisure travelers.

Together with my strong team, we look forward to establishing Scandic in a new destination and positioning ourselves as guests’ friend in town.

I look forward to welcoming Pär to Scandic and to the Executive Committee. With his solid experience from working as CFO and his other management positions at many large international companies, his expertise will be invaluable to Scandic’s expansion going forward.

I look forward to starting at Scandic and contributing to the company’s continued journey. Scandic has made a fantastic recovery and is well positioned for the future. With strong finances and a leading brand, Scandic has great potential.

I’d also like to thank Åsa Wirén for her commitment to Scandic these past two years and wish her all the best in her future endeavors.

This is another step in our focus on expanding in the German market. The takeover is an excellent growth opportunity thanks to the hotel’s strategic location and recent renovation to the property that will meet the rising demand in the corporate and leisure segments. I am also extremely happy that we are continuing to extend our well-established and long-term cooperation with our largest landlord, Pandox.

It’s fantastic that we’re continuing to expand in Germany and strengthening Scandic’s position in the European hotel market. The hotel is an excellent addition to our portfolio that will solidify our offering for business travelers looking to arrange larger meetings and events. Together with my colleagues, I look forward to opening Scandic’s first hotel in Nuremberg, a city that has become an important financial center and that is investing in and building for the future.

We are happy to welcome Scandic as tenant to our newly renovated and centrally located hotel property in Nuremberg. The lease agreement confirms our ability to create value by acquiring, developing and improving underperforming hotel properties in an international environment. It is also a good example of our model where we, through deep hotel knowledge and property expertise, transform hotel properties based on their unique characteristics. With the agreement, we have secured an important step in the property’s value journey, and we are looking forward to work with Scandic to further increase the value of both the hotel product and the hotel property.

At Scandic, we’ve integrated sustainability as part of our strategy, so it’s natural for us to monitor our initiatives and demonstrate how they make a difference for our guests, our team members and society at large. By cooperating with the Nordic Swan Ecolabel, over the years we’ve reduced our water consumption, eliminated harmful chemicals and single-use items, reduced food waste and increased the percentage of organic food we buy. And we’re extremely proud of this progress. Recertifying our ecolabeled hotels is critical to guarantee that we can offer our guests services certified by the toughest environmental labeling.

We’re very pleased that a powerful player like Scandic is committed to meeting the new tougher requirements of the Nordic Swan Ecolabel and certifying all of its hotels in the Nordic countries. This is helping drive the green transition and making a difference, inspiring guests to adopt new habits and influencing other businesses since Scandic demands ecolabeled products. It’s creating what you could say is a ”Swan effect” in other industries that must comply with Scandic’s sustainability requirements, says Anna Linusson, CEO of Miljömärkning Sverige AB.

By extending our agreement and rebranding Holiday Inn City Centre as a Scandic hotel, we will continue to optimize our hotel portfolio in major Finnish cities. Helsinki is an important market that attracts both domestic and international travelers. It’s fantastic to be able to further strengthen Scandic’s hotel offering in Helsinki.

I am extremely pleased that we are now renewing and upgrading our hotel offering in the heart of Helsinki together with Scandic. The hotel is perfectly situated for tourists who want to visit our capital. During the renovation, we will renew all surfaces and bathrooms and make important sustainability-related investments to achieve an even higher environmental rating for the property.

At Scandic, we have a strong focus on knowledge and leadership development. We’ve been running Talent@Scandic for more than two decades now, and it has clearly demonstrated how investing in developing the skills and leadership of team members lays the foundation for the well-being and performance of our company in addition to creating strong, effective leaders. I look forward to following these future leaders as they develop and I’m convinced they’ll go far at Scandic.

Continuing to invest in our team members and talent program by training and inspiring role models and effective leaders for the future is extremely important for us at Scandic. Training is an area where we invest a great deal of time and resources to create the prerequisites for people to succeed as leaders within Scandic as well as on a personal level. We’re offering our talents a veritable smorgasbord of knowledge, training and inspiration that in seven months will transform them into 23 new team members that are ready to take on leadership positions

Scandic’s partnership with Oracle is in line with our strategy to constantly improve the guest experience and create an even more cost-effective operating model. Investing in our digital development is an investment in the future where we see excellent opportunities to exploit more economies of scale and increase our growth and profitability.

As the first partner to go live on the new OPERA Cloud Central, Scandic will benefit from having all its core operational functions in the same platform. Standardizing its operations on OPERA Cloud will enable Scandic to connect all the relevant data together with analytics to deliver real-time insights to departments across all locations. Not only will this create better efficiency across all of its core functions, but also create better guest experiences and revenue generating opportunities

We have a high level of activity at Scandic and we’re continuing to strengthen our position in attractive key destinations where we see great potential. The Helsinki region is expected to generate about 5 million hotel nights from 2026, which is why establishing these two hotels is an important milestone in our growth strategy. It’s also exciting to present our first Scandic Go, Scandic’s brand in the fast-growing economy segment, in the Finnish market.

I’m really looking forward to opening the Scandic and Scandic Go hotels at Garden Helsinki together with Projekti GH Oy and my colleagues here in Finland. The hotels are an important addition to the Töölö district and the new event arena. And as the exclusive hotel operator at Garden Helsinki, Scandic will offer two hotels with a total of 459 rooms under one roof for all guests, regardless of whether they’re looking for a full-service experience or a stay focused on discovering the city or attending an event in the area.

Garden Helsinki’s vision is an ultimate customer experience. Understanding the event and travel industry as well as the customers of today is something that Scandic will contribute to this project and I’d like to take this opportunity to thank the Scandic team as well as the Finesco team for their great support and collaboration during the process.

Interest has been high and we’re very excited to finally open our first Scandic Go hotel. Launching the brand now is timely and Scandic Go will attract a new generation of hotel guests from around the world. With Scandic Go, we will take a great step forward in developing the economy segment in the Nordic countries. We also see significant expansion opportunities outside our Nordic markets.

Scandic Go will offer a smart stay for travelers focused on experiencing the city. We need to understand and adapt to the younger generation of travelers for whom the hotel stay is often not the most important part of a trip. This is why we’ve chosen not to limit guests to fixed meal times or force them to pay for services they don’t need. At Scandic Go, you can stay downtown, eat when you want, travel light and manage everything on your phone.

With strong momentum in the company, I’m very happy to welcome Malin to Scandic. Malin is an established leader with broad experience from well-known companies. She will be an asset on Scandic’s growth journey.

It will be extremely exciting to work with the strongest hotel brand in the Nordic region. I look forward to continuing to develop Scandic’s communication, both internally and externally, as well as to helping further strengthen Scandic’s brand and culture. I feel enthusiastic about starting this new position.

During her time at Scandic, Elin has been a key player in establishing a strategic communicative position in the Nordic countries and Northern Europe. She has built a high-performing unit that has played an important role in driving Scandic’s growth agenda, sustainability program and corporate culture. I’d like to express my sincere thanks to Elin for her valuable contributions over the years and I wish her all the best in her future endeavors.

Interest in experiences where the hotel is the destination itself has continued to rise, which is why it’s fantastic to be expanding our Signature Collection to Tromsø and Aarhus. The hotels are a central part of the urban development projects that are ongoing in each city and will create reasons to travel to both regions. At the same time, we are strengthening Scandic’s hotel offering to domestic and international guests, both in Norway and Denmark.

We are extremely happy to be opening our first hotel on Kungsholmen. With compact hotel rooms and space-efficient shared spaces, the property and hotel configuration are very much aligned with our new Scandic Go concept and our aim to continue developing in the fast-growing economy segment. By expanding Scandic Go, we will continue to strengthen our hotel and product offering in Stockholm while ramping up our efforts to assume a leading role and develop the segment in the Nordic region.

It’s exciting for Pandox to be part of Scandic’s expansion in the economy segment with this new attractive lease in Stockholm. We acquired the hotel property in February this year with a clear vision for how it could be developed. The agreement with Scandic demonstrates that we have a unique business model where, together with strong partners, we can create value in both hotel operations and hotel properties.

At Scandic Go, no one will ever miss breakfast. For the new generation of savvy travelers, visiting a city is often more than the hotel stay itself. Staying should be easy and smooth, on travelers’ own terms without costing too much. Many guests today don’t want to be limited by set breakfast times or pay for other services in the price of a hotel room. This is why Scandic Go offers the most essential elements of a smart stay for people who would rather focus on experiencing the city.

It's really exciting that we’ll soon be opening Scandic Go for a new generation of guests. We see great demand and growth potential in the economy segment and our ambition is to expand the segment in the Nordic region. With our first Scandic Go conveniently located in the Norrmalm district of Stockholm, we will offer an attractive product, the first of many.

Training and securing future leaders has always been important to Scandic. Together with the Executive Committee, leadership developers and key executives within the company, we’ve been excitedly following these talents and I’m extremely proud of how we're continuing to invest significantly in skills development. I look forward to meeting our new leaders in various parts of the organization for many years to come.

When we develop and take care of our team members, we boost efficiency and create synergies that drive us forward. We have a great number of talented, ambitious leaders at Scandic. Taking advantage of their different perspectives and ideas generates new energy, which is in line with how we work to ensure that our leadership is characterized by trust and responsibility.