Scandic Hotels Group AB (LTS:0RD7)
kr 68.95 0 (0%) Market Cap: 14.87 Bil Enterprise Value: 58.60 Bil PE Ratio: 26.94 PB Ratio: 4.12 GF Score: 61/100
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Q1 2024 Scandic Hotels Group AB Earnings Call Transcript

Apr 24, 2024 / 07:00AM GMT
Release Date Price: kr57.63 (+0.96%)
Jens Mathiesen
Scandic Hotels Group AB - President, Chief Executive Officer

Thank you, speaker, and then good morning, everyone, and thank you for joining us for Scandic's first quarter presentation. My name is Jens Mathiesen, I'm the CEO of Scandic, and I will walk you through the quarter, the first quarter results here together with Pär Christiansen, our CFO.

So if you please turn to page 2, then we dive into the quarter's highlights. Overall, we had a stable start to the year. The first quarter is seasonally weak, as you know and accounts for a small portion of the full year. Additionally, the quarter was impacted by significant calendar effects due to the early Easter holidays that's falling in March this year compared to April last year.

The second quarter has started off goods with bookings for May and June in line also with last year. So the underlying demand is very solid. Market occupancy for January and February was higher than last year, and prices continue to develop positively. So altogether, the market conditions are good. The lower net sales and results compared to last

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