Scandic’s interim report Q3 2020 – Slow recovery
Third quarter in summary · Net sales decreased by 60 percent to 2,085 MSEK (5,195). · Occupancy was 36 percent, (75.5) less than half of what it was during Q3 2019. · Adjusted EBITDA was 90 MSEK (823). The decrease in earnings was mitigated by direct government support of 371 MSEK as well as low operating costs. · Excluding the effects of IFRS 16 and items affecting comparability, earnings per share amounted to -0.77 SEK (4.28). · Items affecting comparability amounted to -70 MSEK, related to staff reductions in Norway and Denmark. · At the end of the quarter, Scandic’s