Scandic Hotels (SHOT) Q3 2025 earnings summary

Executive summary

• Delivered strong Q3 performance with net sales of SEK 6,372 million, organic growth of 5.3%, and adjusted EBITDA of SEK 1,088 million at a 17.1% margin.

• Net profit for Q3 was SEK 557 million, with EPS of SEK 2.59.

• Strong operational and free cash flow, with disciplined cost control and high efficiency.

• Acquisition of Dalata progressing as planned, expected to close early November, providing immediate EPS accretion and strategic entry into Ireland and the U.K.

• Portfolio and commercial development continued at a steady pace, with a solid booking outlook for Q4.

Financial highlights

• Net sales: SEK 6,372 million for Q3 2025, up 3.1% year-over-year; organic growth 5.3%.

• Adjusted EBITDA: SEK 1,088 million, margin 17.1% (17.4% last year).

• Free cash flow for Q3: SEK 593 million; YTD free cash flow: SEK 621 million.

• Net debt: SEK 62 million, net debt/adjusted EBITDA at 0.0x.

• Operating profit for Q3: SEK 1,174 million.

Outlook and guidance

• Q4 bookings and occupancy expected to match prior year, with slightly higher price levels.

• Good market conditions anticipated, with increased corporate travel and conferences.

• Leverage expected to remain below 2x EBITDA post-acquisition.

• Portfolio expansion and operational foundation in place to drive further growth and efficiency.

• Committed to 2030 strategy and financial targets, including dividend policy to distribute over 50% of net profit.