Hotel company Scandic reports an EBITDA result of SEK 733 million for the third quarter of 2018 (625). Total revenue amounted to SEK 4,874 million in the quarter (3,974).
According to a Bloomberg News analyst survey of four participants, an EBITDA result of SEK 739 million was expected, while revenue of SEK 4,881 million was predicted.
Adjusted EBITDA was SEK 736 million (622). Net earnings per share amounted to SEK 3.83 in the past quarter (3.65).
Growth in revpar (average revenue per available room) was 1.1 percent from the third quarter of last year. In comparable terms, the quarter's revpar increased by 0.2 percent. Revpar was SEK 766 in the fourth quarter (758).
Hotel operator Scandic expects like-for-like sales growth in the fourth quarter to be slightly lower than the corresponding quarter last year. Overall sales growth is expected to remain good, mainly driven by Restel, according to the interim report.
”"Scandic has a flexible cost structure and we have a good ability to adapt costs to market conditions. We see increasing competition in several destinations and we are continuously working to ensure competitiveness and efficiency," writes CEO Even Frydenberg.
The integration costs for Restel in 2018 are estimated to amount to approximately SEK 120 million and investments related to the integration are estimated to amount to approximately SEK 30 million. This is a repetition of previous assessments on both counts.
Source:nyhestbyråndirekt-di
