Scandic Hotels Group AB · OMXSTO:SHOT
Scandic Hotels Group AB — Q2 2020 Earnings Presentation
15 slides from Scandic Hotels Group AB's earnings presentation, Jul 17, 2020
Slide 1: Scandic Hotels Q2 2020
SCANDICHOTELS / Q2 2020 July 17, 2020
Slide 2: Highlights
HIGHLIGHTS ~~ aie ) , | ] iq) ’ ih _ Scandic # -_
Slide 3: Recovery at the end of the quarter
RECOVERY AT THE END OF THE QUARTER HISTORICALLY LOW OCCUPANCY IN APRIL OCCUPANCY IMPROVEMENT FROM MID-APRIL THAT ACCELERATED IN JUNE NET SALES DOWN 86% ADJUSTED EBITDA -1,138 MSEK SUBSTANTIAL COST REDUCTIONS 3.6 BSEK IN AVAILABLE LIQUIDITY INCLUDING CREDIT COMMITMENTS OCCUPANCY HAS CONTINUED TO INCR
Slide 4: Y-o-Y change in market RevPAR
(Y-O-Y CHANGE IN MARKET REVPAR (Y-O-Y CHANGE IN MARKET REVPAR) (Y-O-Y CHANGE IN MARKET REVPAR) (Y-O-Y CHANGE IN MARKET REVPAR) Source: Benchmarking Alliance 4
Slide 5: Total market occupancy
(TOTAL MARKET OCCUPANCY) (TOTAL MARKET OCCUPANCY) (TOTAL MARKET OCCUPANCY) Source: Benchmarking Alliance 5
Slide 6: Occupancy in capital cities vs other destinations
7% occupancy in 2019 capital cities vs. 12% in other destinations in Q2 2020 Source: Scandic 6
Slide 7: Number of hotels open
Number of hotels open* 300 247 244 242 250 198 187 200 150 100 50 0 June 30 July 30 August 31 September 30 Total portfolio Source: Scandic 7 * Excluding 21 franchise hotels
Slide 8: Hotel portfolio by country
17,540 16,748 1,189 16,531 14,371 902 12,236 12,169 1,291 4,955 4,745 1,574 1,718 1,718 739 52,980 49,751 5,695 8
Slide 9: Slide 9
Slide 10: Net sales development
Apr-Jun Apr-Jun Jan-Jun Jan-Jun 2020 2019 % 2020 2019 % Net sales 665 4,853 -86.3% 4,008 8,919 -55.1% FX -43 -1.0% -74 -0.9% Organic -4,144 -85.3% -4,837 -54.2% New hotels -75 -1.5% -40 -0.4% Exited hotels -64 -1.3% -109 -1.2% Like-for like -4,005 -82.5% -4,688 -52.6% 10
Slide 11: Income statement summary
404 40 364 90% 1,629 566 1,063 496 65% 975 462 513 38 53% 3,008 1,068 1,940 534 64% 1,279 777 502 100 39% 4,287 1,845 2,442 634 57% 11
Slide 12: Net sales and adjusted EBITDA by country
April-June Net sales Adjusted EBITDA Adjusted EBITDA % MSEK 2020 2019 2020 2019 2020 2019 Sweden 246 1,623 -344 244 neg. 15.0% Norway 215 1,397 -94 148 neg. 10.6% Finland 107 1,115 -309 165 neg. 14.8% Other Europe 97 718 -296 97 neg. 13.5% Central costs & group adj. - - -95 -95 - - Group 665 4,853 -
Slide 13: Cash flow and net debt
January-June 2020 2019 Adjusted EBITDA -1,311 719 Change in working capital 753 -97 Paid tax, interest, pre-opening and other items -291 -341 Cash flow from operations -849 281 Investments in existing operations -359 -359 Free cash flow before expansion capex -1,208 -78 Acquisitions/disposals 0 230
Slide 14: Break-even levels
2019 Cash-flow break-even EBITDA break-even 2020 EBITDAR break-even 14
Slide 15: Outlook
15 OUTLOOK AVERAGE OCCUPANCY HAS BEEN AROUND 35% IN THE FIRST HALF OF JULY AND IS EXPECTED TO BE AROUND 40% DURING THE REMAINDER OF THE SUMMER VACATION PERIOD MARKET DEVELOPMENT DURING THE AUTUMN WILL TO A LARGE EXTENT DEPEND ON ACTIVITY AMONG OUR CORPORATE CUSTOMERS FOR 2020 WE EXPECT SALES TO BE M