Q3 2026 Financial Highlights for Scandic Hotels

Scandic Hotels reported that adjusted core profit for the third quarter rose 22 percent year‑on‑year to SEK 1.33 billion, compared with SEK 1.09 billion in the same period last year. Approximately one‑third of this increase stemmed from SEK 84 million of fees earned from managing the Dalata hotel portfolio, which the group acquired for roughly €500 million.

The Dalata acquisition, completed on 2 November 2026, added 57 hotels comprising about 12,500 rooms and introduced a pipeline of roughly 1,600 additional rooms. The purchase was financed using existing cash balances and debt facilities; as of 30 September 2026, Scandic held net cash of SEK 648 million, a shift from net debt of SEK 62 million a year earlier, indicating the group moved out of a net‑cash position.

Revenue and profitability: Net sales increased 7.9 percent to SEK 6.88 billion from SEK 6.37 billion a year ago. Currency effects contributed SEK 125 million, while organic growth accounted for 4.5 percent. The adjusted core profit margin improved to 19.3 percent from 17.1 percent previously. Operating profit rose to SEK 1.31 billion (up from SEK 1.17 billion) and net profit reached SEK 648 million, compared with SEK 557 million in the prior year.

Operational metrics: Average occupancy climbed to 75.5 percent from 74.2 percent. Revenue per available room (RevPAR) grew 6.8 percent to SEK 1,031, while the average room rate increased 4.9 percent to SEK 1,365.

Geographic performance:

  • Sweden: Sales rose 7.1 percent to SEK 2.17 billion; adjusted core profit was SEK 534 million versus SEK 438 million a year earlier, delivering a margin of 24.7 percent versus 21.6 percent.
  • Norway: Sales increased 9.5 percent to SEK 2.08 billion, with a 2.3 percent organic rise after excluding currency effects. Adjusted core profit was SEK 432 million versus SEK 406 million, margin falling slightly to 20.8 percent from 21.4 percent.
  • Finland: Sales grew 3.9 percent to SEK 1.26 billion; adjusted core profit reached SEK 203 million compared with SEK 177 million a year earlier.

Nine‑month overview: Over the first nine months, total sales declined 3.2 percent to SEK 3.30 billion, while adjusted core profit fell to SEK 258 million from SEK 342 million in the comparable period.

Cash flow and taxes: Free cash flow for the quarter rose to SEK 945 million, up from SEK 593 million a year ago. Over the nine‑month period, free cash flow amounted to SEK 1.0 billion, compared with SEK 621 million previously. Taxes paid dropped sharply to SEK 55 million from SEK 258 million, reflecting a net tax repayment in Sweden.

Management outlook: Chief Executive Officer Jens Mathiesen described the quarter as a “record quarter” for Sweden, citing strong demand from concerts and major conferences. He indicated that the fourth‑quarter performance to date is “good,” with solid demand for business travel, meetings, and conferences, and the company expects slightly higher occupancy and room rates than a year earlier.