Fourth quarter 2016 in summary
- RevPAR LFL grew by 5.2%, driven by higher occupancy and increased average room rates.
- Net sales rose by 12.3% to 3,463 MSEK (3,085) due to higher RevPAR, more rooms in operation and positive currency effects.
- Adjusted EBITDA grew by 38% to 457 MSEK (332) corresponding to a margin of 13.2% (10.8).
January – December 2016 in summary
- RevPAR LFL increased by 6.3% driven by higher occupancy and increased average room rates.
- Net sales rose by 7.3% to 13,082 MSEK (12,192) mainly due to increased RevPAR and more rooms in operation.
- Adjusted EBITDA went up by 21% to 1,513 MSEK (1,246) corresponding to a margin of 11.6% (10.2).
- The Board of Directors proposes an ordinary dividend of 3.15 SEK per share.
CEO’s comments in summary
Scandic ended the year with a strong fourth quarter and we exceeded our financial targets for 2016. During the quarter, we saw continued sales growth and margin improvement. Demand was generally positive in the Nordic markets and we continued to strengthen our market positions.
During the year, Scandic implemented a series of major investments in its commercial platform including enhancing our marketing organization. We also worked actively on our hotel portfolio and saw positive development at the five hotels we opened during the year. Following the agreements we announced at the beginning of 2017, we now have a record 17 hotels and more than 5,000 rooms in the pipeline.
Scandic is well equipped for 2017. We have a strong balance sheet that provides good opportunities for further expansion in the Nordic countries and selectively in the German market.
President & CEO
Report presentation, February 23, 2017 at 9:00 CET
A presentation of the report will take place at 9:00 CET today, February 23. Scandic’s President & CEO Frank Fiskers will present the report together with CFO Jan Johansson in a webcast and phone conference.
To participate in the phone conference, dial +46 8 5664 2694 or +44 20 3008 9806.
Please call in five minutes before the start.
The presentation will be held in English.
The webcast will be available at www.scandichotelsgroup.com as well as the year-end report and presentation slides.
Scandic Hotels Group (publ) is required to publish this information in accordance with the EU Market Abuse Regulation and the Swedish Securities Market Act. The information was submitted for publication February 23, 2017 at 07:30 CET.
More information, please contact:
Scandic is the largest hotel company in the Nordic region with 14,400 team members and a network of close to 230 hotels with about 44,000 hotel rooms in operation and under development. Scandic Friends is the biggest loyalty program in the Nordic hotel sector with 1.9 million members. Corporate responsibility has always been a part of Scandic’s DNA and Scandic has been named Best Hotel Brand in the Nordic countries (BDRC). Since December 2, 2015, Scandic has been listed on Nasdaq Stockholm. www.scandichotelsgroup.com