Scandic Hotels Group Ab · OMXSTO:SHOT
Scandic Hotels Group Ab — Q2 2021 Earnings Presentation
16 slides from Scandic Hotels Group Ab's earnings presentation, August 2021
Slide 1: Financial Update
SCANDIC HOTELS. |
Slide 2: Recovery Gaining Momentum
RECOVERY GAINING MOMENTUM IMPROVED DEMAND IN ALL MARKETS OCCUPANCY 36 PERCENT IN JUNE REDUCED CASH OUTFLOW IN Q2 OCCUPANCY EXPECTED TO BE AROUND 55 PERCENT IN JULY Scandic
Slide 3: Total Market Occupancy
(TOTAL MARKET OCCUPANCY) (TOTAL MARKET OCCUPANCY) (TOTAL MARKET OCCUPANCY) (TOTAL MARKET OCCUPANCY) Source: Benchmarking Alliance 3
Slide 4: Market Occupancy by Country
60% 70% 60% 50% 50% 40% 40% 30% 30% 20% 20% 10% 10% Sweden Norway Finland Denmark 0% 0% 4
Slide 5: Occupancy 2019-2021
90% 80% 70% 2021 60% 2020 50% 2019 40% 30% 20% 10% 0% 5
Slide 6: Market Occupancy by City
50% 45% 40% 35% 30% 25% 20% 15% 10% 5% Stockholm Oslo Helsinki Copenhagen 0% 6
Slide 7: Hotel Openings and Pipeline
Q4 2021 Scandic Nørreport Copenhagen, Denmark New 100 Q4 2021 Scandic Hamburger Börs Turku, Finland Takeover 272 Q1 2022 Scandic Holmenkollen Park Holmenkollen, Norway Reopening 343 Reopening after renovation and extension Q1 2022 Scandic Macherei Munich, Germany New 234 Q1 2022 Scandic Spectrum Cop
Slide 8: Slide 8
Slide 9: April-July Net Sales and Adjusted EBITDA
April-July Net sales Adjusted EBITDA Adjusted EBITDA % • 2021 2020 2021 2020 2021 2020 MSEK • Sweden 460 246 -255 -344 -55.3% -139.8% Norway 644 215 27 -94 4.2% -43.7% Finland 313 107 -168 -309 -53.7% -288.2% • Other Europe 223 97 88 -296 39.5% -305.2% Central costs & Group adj. - - -57 -95 - - Grou
Slide 10: Q2 Cash Flow and Net Debt
Q2 Adjusted EBITDA -364 Change in working capital 424 Paid tax 0 Interest, pre-opening costs & other items -140 Cash flow from operations -80 Investments in existing operations -36 Free cash flow before expansion capex -116 Expansion capex -97 Free cash flow -214 Net debt 4,410 2,130 Available liqui
Slide 11: Q2 Financial Net
Q2 Total financial net, reported -438 • of which interest expenses, IFRS 16 -305 Financial net excl. IFRS 16 -134 Adjustments to paid financial items • Interest expenses, convertible bond (non-cash) 31 Timing difference, interest on bank loans -37 • Other -31 Total adjustments -37 Paid financial ite
Slide 12: Sensitivity Analysis During Recovery Phase
SENSITIVITY ANALYSIS DURING RECOVERY PHASE ~40% OCC ~50% OCC Scandic
Slide 13: IFRS Accounting Effects
3 IFRS ACCOUNTING EFFECTS Due to temporary rent discounts and extended maturity of lease portfolio, the negative IFRS impact on net result is expected to increase)to -550.MSEK for 2021 With the current portfolio, the negative impact will diminish over time and become positive from 2027 Interest cost
Slide 14: CONCEVEING R
CONCEVEING R
Slide 15: Well Positioned to Benefit from Market Recovery
WELL POSITIONED TO BENEFIT FROM MARKET RECOVERY LOW COST BASE * BROAD MID-MARKET OFFERING + ENTERING RECOVERY WITH LOW COST BASE * HIGH FOCUS ON DOMESTIC GUESTS * SUSTAINABLE COST REDUCTIONS, ESPECIALLY WITHIN * ENHANCED OFFERING TO CAPTURE GROWING LEISURE DEMAND GROUP FUNCTIONS & COUNTRY SUPPORT OF
Slide 16: Thank You!
THANK YOU! _