Interim report January - September 1998

[REMOVED GRAPHICS] Scandic Hotels AB (publ) Interim report January - September 1998 www.scandic-hotels.com Summary Income after net financial items rose by 95 per cent to SEK 201 million (103m). Sales rose by 33 per cent to SEK 3,578 million (2,683m). For comparable units, sales rose by 7 per cent. The operating margin rose to 6.2 per cent (4.5%) The property company Hotellus, to which Scandic's property holdings were transferred at the beginning of the year, added five properties to its portfolio during the third quarter and now has a total of twelve hotels, with a book value of SEK 1,403 million. Scandic's ownership interests in the company have been reduced to 61 per cent. The cash flow amounted to SEK -845 million (-94m). The change between the two periods is primarily attributable to property acquisitions by the subsidiary company Hotellus. The cash flow of the hotel business remains strong. Earnings per share rose to SEK 6.69 (4.59). ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are ready for download: http://www.bit.se/bitonline/1998/10/28/19981028BIT00250/bit0001.doc http://www.bit.se/bitonline/1998/10/28/19981028BIT00250/bit0002.pdf The full report