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2016-05-12

Scandic Hotels Group AB: Scandic's interim report for the first quarter 2016 - Positive start to the year and good underlying demand

First quarter 2016 in summary

· Results for the quarter were impacted by this year's Easter
holiday that fell entirely during the month of March.

· LFL RevPAR grew 1.7% driven by greater occupancy. Total RevPAR
decreased by 1.9% mainly as a result of exchange rate fluctuations.

· Net sales LFL went up 2.3% due to continued good underlying
demand.

· Net sales decreased by 2.6% to 2,594 MSEK (2,664), with mainly
exchange rate fluctuations having a negative impact.

· Adjusted EBITDA amounted to 40 MSEK (66) corresponding to a margin
of 1.5% (2.5).

The margin change is a result of the changed mix of guests due to the
Easter holiday.

First four months in summary

· The Easter holiday fell entirely in March, which is why the
quarter is not fully comparable with the first quarter of 2015. For a
more fair view of the performance, the quarter should be compared
with the first four months of the year.

· Scandic's RevPAR LFL for January-April 2016 went up 7.0% driven by
both increased occupancy and higher average room rates. RevPAR
increased by 3.5%.

· Net sales LFL for January-April rose by 7.4%.
· Net sales increased during the same period by 2.9% to 3,669 MSEK
(3,564).

Adjusted for exchange rate fluctuations, net sales increased by 6.2%.
CEO's comments
The year started well and our RevPAR LFL has continued to develop
positively. Profits during the quarter were impacted negatively by
the fact that the Easter holiday fell entirely during March at the
same time as efficiency gains from the acquisition of Rica Hotels
have had a positive effect.

We have high level of momentum and activity in the Group and our hotel
portfolio is continuing to develop positively. During April and May,
we opened two large hotels in Stockholm at the same time as we added
three hotels in the Nordic countries to our already strong pipeline.

Underlying demand in the market is generally good. The Norwegian hotel
market, however, remains polarised but despite this, we have a
positive outlook for 2016 for the Group as a whole.

Frank Fiskers
President & CEO

Telephone conference May 12, 2016 at 09.00 CET
A telephone conference is held at 09.00 CET today, May 12. Scandic's
President & CEO Frank Fiskers will present the report together with
CFO Gunilla Rudebjer in a webcast and telephone conference.

Details for participation by telephone: +46 8 5664 2695 or +44 20 3008
9810

Please call in 5 minutes before the start.

The presentation will be held in English.

You can view the webcast at www.scandichotelsgroup.com. The interim
report and presentation slides will also be available on the website.

Scandic Hotels Group (publ) is required to publish this information
under the Swedish Securities Market Act and/or Financial Instruments
Trading Act. The information was submitted for publication May 12,
2016 at 07:30 CET.

For further information, please contact:
Ann-Charlotte Johansson, VP Communications & IR
Email: ann-charlotte.johansson@scandichotels.com
Phone: +46 (0)72 180 22 44

www.scandichotelsgroup.com

About Scandic
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 1.7
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

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http://news.cision.com/scandic-hotels-group-ab/r/scandic-s-interim-repor...
http://mb.cision.com/Main/13379/2007519/514683.pdf

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