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Scandic The leading hotel company in the Nordics January - March 2021 WELL PREPARED FOR A RECOVERY • . • • • FIRST QUARTER IN SUMMARY Net sales decreased by 72 percent to 930 MSEK ( 3,343 ) . Average occupancy dropped to 17.5 percent during the quarter . Levels of activity were particularly low in the larger cities . In all countries , continued restrictions from authorities to reduce the spread of the coronavirus had a strong negative effect on the hotel market . Adjusted EBITDA was -775 MSEK ( -174 ) . Results for the quarter were impacted positively by state aid of 247 MSEK and rent discounts of approximately 143 MSEK . Excluding IFRS 16 , earnings per share amounted to -4.90 SEK ( -37.63 ) . On March 26 , Scandic carried out an offering of convertible bonds , which raised 1,609 MSEK in gross proceeds . Agreement to extend existing credit facilities of 6,650 MSEK until December 31 , 2023 . • Scandic Arlandastad , a 150 - room hotel , opened in January . EVENTS AFTER THE REPORTING DATE • • • The Extraordinary General Meeting held on April 21 passed the Board of Directors ' resolution to issue convertible bonds . On April 14 , Scandic announced that it had recruited Fredrik Wetterlundh as Chief Human Resources Officer . Fredrik will start in August . In April , Scandic Grand Central opened in Helsinki . GROUP KEY RATIOS MSEK Financial key ratios Net sales Adjusted EBITDA Jan - Mar Jan - Mar Jan - Dec 2021 2020 % change 2020 Apr - Mar 2020/2021 930 3,343 -72.2 % 7,470 5,057 -775 -174 345.4 % -1,503 -2,104 Adjusted EBITDA margin , % -83.4 -5.2 -20.1 -41.6 EBIT ( Operating profit / loss ) -919 -3,329 -72.4 % -4,800 -2,388 Net profit / loss for the period -1,080 -3,927 -72.5 % -5,951 -3,104 Net profit / loss for the period excl . IFRS 16 -937 -3,876 -75.8 % -5,739 -2,800 Earnings per share , SEK -5.65 -38.14 -0.85 -40.02 -16.21 Earnings per share , SEK , excl . IFRS 16 -4.90 -37.63 -87.0 % -38.62 -14.64 Net debt 5,768 4,250 4,714 Net debt / Adjusted EBITDA , LTM neg 2.5 neg Hotel - related key ratios RevPAR ( SEK ) 147 474 -69.0 % 271 -56 ARR ( Average Room Rate ) , SEK 841 1,043 -19.4 % 945 945 OCC ( Occupancy ) , % 17.5 45.5 28.7 28.7 Total number of rooms on reporting date 52,938 53,071 53,003 52,938 THIS INFORMATION IS INFORMATION THAT SCANDIC HOTELS GROUP AB IS OBLIGED TO MAKE PUBLIC PURSUANT TO THE EU MARKET ABUSE REGULATION . THE INFORMATION WAS SUBMITTED FOR PUBLICATION THROUGH THE AGENCY OF THE CONTACT PERSON SET OUT ABOVE AT 07.30 CET ON APRIL 28 2021 .