Interim report January - March 1999

Interim report January - March 1999 Summary Income after net financial items rose by 48 per cent to SEK 46 million (31m). Sales rose by 36 per cent to SEK 1,272 million (934m). For comparable units, sales rose by 7 per cent. The cash flow from current operations improved year on year from SEK -54 million to SEK 37 million. After taking into account the effect of investments and the sale of fixed assets, the cash flow improved from SEK -139 million to SEK 29 million. Four new hotels were added to the Group's portfolio in Denmark. The company also wound up operations at a hotel in Sweden and one in Denmark. Scandic has today acquired the shareholding majority in an Estonian hotel group comprising four hotels, two of which are located in Tallinn. The sale of 20 of the 25 independent Finnish restaurants was completed during the quarter. In April, the company sold a further two restaurants. Earnings per share rose to SEK 1.25 (1.06). Year on year, the number of shares has risen from 17 million to 21,25 million. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/1999/04/26/19990426BIT00220/bit0001.doc The full report http://www.bit.se/bitonline/1999/04/26/19990426BIT00220/bit0002.pdf The full report