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Scandic’s half-yearly report 2013

July 24, 2013 | 07:00 CET | Categories: General press releases | Non regulatory

During the first half of the year, revenue increased by 1.1% to EUR 448.6 (443.6) million. Net operating profit (EBITDA) came in at EUR 27.6 (32.6) million, giving a profit margin of 6.2% (7.4%). Extensive refurbishment work has led to reduced capacity, which has had an impact on revenue and profits.  Scandic opened three new hotels with a total of 659 new rooms. For the third year in a row, Scandic has been voted the most sustainable hotel chain.During the first half of the year, the Nordic markets made slow progress, affected by continued economic instability, fewer major congresses compared with 2012 and increased room capacity, which have all led to lower occupancy.

Scandic’s revenue increased by 1.1% to EUR 448.6 (443.6) million. For comparable hotels and at a fixed exchange rate, revenue fell by 4.7%, primarily due to reduced capacity arising from refurbishment work. In 2012, Scandic launched a major refurbishment programme together with property company Pandox, which involves giving 40 of the hotel chain’s roadside hotels a fresh, new, light and Nordic design. The hotels that have been refurbished so far in 2013 have been very well received by our guests, helping to further increase our customer satisfaction index.

In the autumn, Scandic will also become the first hotel chain to introduce electronic check-out. This allows guests to pay for their room and check out on their smartphone or computer. To further improve quality at its hotels, this year Scandic launched its own hair and skin care range in partnership with FACE Stockholm.

For the third year in a row, Scandic has been voted the most sustainable hotel chain by Swedish consumers via Sustainable Brands, which annually surveys and ranks how companies work on their environmental and social responsibility.

“We’re continuing to invest in new hotels, as well as conducting major renovation work on our existing hotels,” explains Anders Ehrling, CEO of Scandic. “We’re also investing in new digital solutions. For example, we want to make it easy to book rooms with us by smartphone and check out digitally. This autumn our frequent guest programme is also set to welcome its one millionth member. Scandic Friends is the largest frequent guest programme in the Nordic region.”

Three new hotels

Scandic took over operation of flagship hotel Triangeln in Malmö at the start of the year, and in June Gotland’s biggest hotel became Scandic Visby. As Scandic continues its expansion in the Nordic market, June also saw the addition of Scandic Kristiansand Bystranda in Norway. The hotel is situated right at the heart of idyllic Bystranda, in the centre of Kristiansand.

Sustainable restaurants

Scandic continues to focus on its meeting and conference business and improvements to Scandic’s almost 160 restaurants, which account for around 30 percent of Scandic’s total revenue. Scandic’s sustainability work is also shaping the development of the restaurants. Organic waste from restaurants accounts for a large proportion of waste at a hotel. A great deal is discarded unnecessarily and now Scandic is taking the next step in its sustainability work by actively working on waste management at all its hotels. Through knowledge and planning, the hotels are able to reduce breakfast waste by over 30 percent. Scandic has also stopped the use of palm oil, switching entirely to rapeseed and sunflower oil in its restaurants for environmental reasons. The partnership with top chef Jamie Oliver continues. This summer, Scandic is serving Jamie’s summer menu at all its restaurants.

Results January – June 2013 for the Scandic Hotels Holding Group

Jan Jan-Jun
2013 2012
Revenue, MEUR 448.6 443.6
Revenue 1.1% 10.3%
growth, %
Revenue -4.7% 3.2%
hotels, %
Gross profit, 162.8 163.3
EBITDAR, MEUR 140.3 140.0
EBITDA, MEUR 27.6 32.6
Adjusted 29.3 36.5
EBITDAR 31.3% 31.6%
margin, %
EBITDA 6.2% 7.4%
margin, %
Adjusted 6.5% 8.2%
margin, %1

Revenue per 61.76 62.82
Average room 109.1 105.6
rate (ARR),
Occupancy, % 56.6 59.5

No. of hotels 154 155
in operation
(30 June)2
No. of rooms 29,821 29,314
available (30
No. of 7,230 7,435

1) Excluding
2) Includes
hotels with
and franchise
During the
year, three
new hotels
opened with a
total of 659
rooms. Five
hotels with a
total of 723
rooms were
Calculated as
total no. of

RevPAR RevPAR Revenue Revenue
Growth 2013 (EUR) (%) (MEUR) (%)
compared with
Like-for-like -2.4 -3.8% -20.4 -4.7%
Exchange rate 1.4 2.2% 9.8 2.2%
Hotels left -1.8 -2.8% -2.5 -0.6%
New hotels 1.7 2.7% 18.1 4.2%
Reported -1.1 -1.7% 5.0 1.1%

For further information, please contact:
Margareta Thorgren, VP Group Communication Scandic, tel: +46 (0) 721 70 92 53Every day, Scandic’s 7,500 team members work with one single goal in mind – to make you feel welcome. As the Nordic region’s most sustainable hotel chain we’re always focused on the environment, social responsibility and accessibility. With around 160 hotels in eight countries, 30,000 hotel rooms and a turnover of EUR 923 million, Scandic is the largest hotel chain in the Nordic countries. We want to be more than just a hotel – Scandic is a place where people meet, work and get inspired. scandichotels.com



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