Scandic’s interim report Q3 2017 – Solid development in sales & profits
Third quarter in summary · Net sales increased by 11.1% to 3,974 MSEK (3,577) primarily due to higher RevPAR and more rooms in operation. · Adjusted EBITDA totaled 622 MSEK (547), corresponding to a margin of 15.7% (15.3). · An agreement was signed to acquire a 293-room hotel in central Frankfurt, which will open in early 2018. · Agreements were signed for two new hotels in Copenhagen, totaling 989 rooms, which will open in 2020 and 2021 respectively. · 17 MSEK in capital gain from the sale of a hotel in Finland. · Earnings per share amounted to 3.65 SEK (4.22).