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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Q2 2024 Scandic Hotels Group AB Earnings Call Transcript

Jul 17, 2024 / 07:00AM GMT
Release Date Price: kr62.2 (-6.82%)
Jens Mathiesen
Scandic Hotels Group AB - President, Chief Executive Officer

Thank you very much, and then, good morning, everyone, and thank you for joining us for Scandic's (technical difficulty) patient. My name is Jens Mathiesen, I'm the CEO of Scandic. And with me, I have Pär Christiansen, who's our CFO. And together, we will walk you through the quarter.

So please start on page 2. We deliver a good second-quarter margin. (technical difficulty) hold stable across all our markets, and we also have good demand and increasing prices. Net sales improved and we report a strong result with higher margins compared to the same quarter last year.

I'm very pleased that our sharp focus on (technical difficulty) control is making an impact in the quarter, which you see. With the economy also stabilizing in most of our markets, we are observing an improved payment in the sentiment among property owners. We are maintaining a high pace to expand our pipeline, and we are also investing to create an even more competitive offering.

During the quarter, we reopened a large and newly

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