Pandox AB (publ) (PNDX_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

The Pandocs Q1 presentation for 2025. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to Head of IR and Communication Anders Berg. Please go ahead. Thank you. Good morning and welcome to this presentation of Pandocs Interim Report for the first quarter 2025. I'm here together with Lian Hu, our CEO, and Anneli Lindblom, our CFO. And today we also have the pleasure of having both Alex Robinson, Director at STR, and Rasmus Kjellman, Managing Director at Benchmarking Alliance with us. Alex and Rasmus will provide a hotel market update on Europe and Nordics respectively, which is particularly interesting given the current geoeconomical changes around the globe. STR and Benchmarking Alliance are both leading independent research firms dedicated to the hotel market, and the views they express are completely separate from Pandox. The presentations are offered only as a service to Pandox stakeholders. Anne-Alex and Rasmus' presentations will be held after we have completed our formal earnings presentation, including the Q&A. So now we start with Lea and Anneli's business update and the financial highlights for the first quarter 2025, followed by the Q&A session. Yes, Lea, please go ahead. Thank you, Anders. And good morning and welcome, everyone. The first quarter was stable with continued earnings growth for the group. Total revenues increased by 1%, net operating income by 5%, and cash earnings in total increased by 10% and by share by 4%. Taking into account the one-off revenue last year of 40 million, then total revenues increased by 4%. The business segment leases saw a stable performance, again adjusted for a one-time revenue of 40 million kronor for Kö...