Scandic Hotels Group Ab · OMXSTO:SHOT

Scandic Hotels Group Ab — Q1 2024 Earnings Presentation

16 slides from Scandic Hotels Group Ab's earnings presentation, Apr 24, 2024

  1. Slide 1: Q1 Report April 24, 2024

    Q1 REPORT APRIL 24, 2024 Scandic Svolvær, Norway 1

  2. Slide 2: Stable start to the year & good booking situation

    STABLE START TO THE YEAR & GOOD BOOKING SITUATION • Stable performance in a seasonally weak quarter impacted by the early Easter holidays in March • Good development in April and booking situation for May and June in line with last year • Solid underlying demand and increasing room rates • High acti

  3. Slide 3: Q1 last year is a difficult comparable quarter

    Q1 LAST YEAR ADJUSTED EBITDA PER QUARTER 2021-2024, MSEK IS A DIFFICULT 1,400 1,200 COMPARABLE QUARTER 1,000 • Adjusted EBITDA of 33 (170) MSEK 800 600 • Lower results due to the early Easter, 400 strikes in Finland and one-offs 200 0 • Higher pace of development and focus on efficiency and cost con

  4. Slide 4: Solid underlying demand, March impacted by early Easter

    SOLID UNDERLYING DEMAND MARCH IMPACTED BY THE EARLY EASTER MARKET OCCUPANCY SWEDEN NORWAY 55% 59% 54% 56% 53% 58% 55% 54% 47% 47% 46% 49% Jan-23 Feb-23 Mar-23 Jan-24 Feb-24 Mar-24 Jan-23 Feb-23 Mar-23 Jan-24 Feb-24 Mar-24 FINLAND DENMARK 54% 55% 54% 54% 61% 61% 46% 47% 49% 53% 51% 54% Jan-23 Feb-23

  5. Slide 5: Continued positive price development

    20 40 60 80 0 100 120 140 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Source: Benchmarking Alliance. Jun 2020 Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Sweden Dec 2020 Jan 2021 MARKET AVERAGE ROOM RATES Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 INDEXED TO CORRESPONDING MONTH 2019 Jul 2021 Aug

  6. Slide 6: RevPAR in March impacted by the early Easter

    20 40 60 80 0 100 120 140 Jan 2020 Feb 2020 Mar 2020 Apr 2020 May 2020 Source: Benchmarking Alliance. Jun 2020 MARKET REVPAR Jul 2020 Aug 2020 Sep 2020 Oct 2020 Nov 2020 Sweden Dec 2020 Jan 2021 Feb 2021 Mar 2021 Apr 2021 May 2021 Jun 2021 INDEXED TO CORRESPONDING MONTH 2019 Jul 2021 Aug 2021 Sep 20

  7. Slide 7: Continued expansion of Scandic Go in Finland

    CONTINUED EXPANSION OF SCANDIC GO IN FINLAND • New 144-room Scandic Go in central Oulu (northern Finland's largest city) with planned opening in 2025 Tromsø, Norway Aarhus, Denmark • Attractive hotel market in the region with increasing Scandic Go Scandic Go demand from leisure and business traveler

  8. Slide 8: Scandic Nürnberg Central now open

    SCANDIC NÜRNBERG CENTRAL NOW OPEN Scandic Nürnberg Central, Germany 8

  9. Slide 9: Focus on growing the hotel portfolio

    FOCUS ON GROWING THE HOTEL PORTFOLIO Pipeline as of March 31, 2024 No. of Year Hotel Destination rooms Q3 2024 Scandic Go Sankt Eriksgatan Stockholm, Sweden New 221 Q3 2025 Signature Collection, Tromsø Tromsø, Norway New 305 2025 Scandic Go Oulu Oulu, Finland New 144 Q2 2026 Scandic, Ski Oslo, Norwa

  10. Slide 10: Financial update

    FINANCIAL UPDATE 10 Scandic Continental, Sweden 10 10

  11. Slide 11: Significant impact from calendar effects

    SIGNIFICANT IMPACT Net sales Adjusted EBITDA Adjusted EBITDA margin FROM CALENDAR MSEK Q1 2024 Q1 2023 Q1 2024 Q1 2023 Q1 2024 Q1 2023 EFFECTS Sweden 1,325 1,388 66 95 5.0% 6.8% • Calendar effects estimated to have Norway 1,248 1,313 92 152 7.4% 11.5% a negative impact of 4-5% of net sales Finland 1

  12. Slide 12: Increased pace to grow and optimize the hotel portfolio

    Free cash flow per quarter and LTM, MSEK INCREASED PACE TO Free cash flow Free cash flow LTM GROW AND OPTIMIZE THE HOTEL PORTFOLIO 3,500 3,000 2,841 • Increased investments in maintenance 2,500 2,205 and expansion in line with plan 2,149 2,000 1,754 • Change in working capital impacted by 1,500 1,37

  13. Slide 13: Strong financial position

    Net debt to adjusted EBITDA LTM STRONG FINANCIAL POSITION Financial target of 2-3x • Net debt of 2,302 MSEK1 • Net debt/adjusted EBITDA of 0.9x (0.5x excluding the convertible bond) • Total credit facility of 3,450 MSEK 1.2x 1.1x 0.9x • Available liquidity of 2,200 MSEK 0.8x 0.6x Q1 2023 Q2 2023 Q3

  14. Slide 14: Concluding remarks

    CONCLUDING REMARKS Scandic Continental, Sweden 14 14

  15. Slide 15: Outlook

    OUTLOOK • Performance in April expected to fully compensate for the Easter-effect • Based on current bookings, we expect good demand in line with last year for May and June • For the second quarter, we anticipate slightly higher occupancy levels and room rates than last year • Sharp focus on efficie

  16. Slide 16: j Scandic Continental, Sweden

    j 16 16 Scandic Continental, Sweden

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