Interim Report January-March 2000

Interim report January-March 2000 www.scandic-hotels.com Quarterly summary * Income after net financial items rose by 41 per cent to SEK 65 million (46m). * Sales totalled SEK 1,270 million (1,257m), corresponding to an increase of 1 per cent compared with the same period of the previous year. For comparable hotels, sales rose by 4 per cent. * Operating income amounted to SEK 59 million (45m), corresponding to an operating margin of 4.6 per cent (3.6%). * Earnings per share for the period amounted to SEK 1.04 (0.42). * Scandic has sold its shareholding (49.9%) in the property company Hotellus International to the listed hotel property company Pandox. Scandic's stake in Pandox following completion of this deal corresponds to 20.8 per cent of the company's shares. * After the end of the period, Scandic made a public offer for the shares in the listed hotel chain Provobis. The principal shareholders, who together control 60 per cent of the share capital and 69 per cent of the voting rights, have accepted the offer. Provobis has 16 good quality hotels in inner city locations in Sweden, one hotel under construction in Finland and four independent restaurants. * Scandic has signed agreements regarding a further five hotels, two of which are located in Norway, one in Denmark, one in Finland and one in Germany. The agreement regarding the hotel in Germany was signed during the period, whilst the agreements for the other hotels were signed after the end of the period. * Scandic's Board of Directors has decided to buy back company shares in accordance with the mandate granted by the Annual General Meeting of shareholders. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/05/02/20000502BIT01100/bit0001.doc The full report http://www.bit.se/bitonline/2000/05/02/20000502BIT01100/bit0002.pdf The full report