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Scandic Hotels Group AB ( (SE:SHOT) ) has issued an announcement.
Scandic Hotels Group reported a strong quarter with increased organic growth and solid cash flow, despite a slight decline in net sales due to negative currency effects and one-off items. The company is expanding its operations with new hotel agreements in Finland, Norway, Sweden, and Germany, and plans to acquire Dalata Hotel Group’s operations, enhancing its presence in Ireland and the UK. The acquisition aligns with Scandic’s 2030 strategy and is supported by its strong financial position.
The most recent analyst rating on (SE:SHOT) stock is a Hold with a SEK83.00 price target. To see the full list of analyst forecasts on Scandic Hotels Group AB stock, see the SE:SHOT Stock Forecast page.
More about Scandic Hotels Group AB
Scandic Hotels Group AB is the largest hotel company in the Nordic countries, operating approximately 280 hotels with 58,000 rooms across more than 130 destinations. Known for its sustainability initiatives and accessible design, Scandic is a leader in the Nordic hotel industry. The company is also recognized for its Scandic Friends loyalty program and is listed on Nasdaq Stockholm.
Average Trading Volume: 344,675
Current Market Cap: SEK18.18B
For a thorough assessment of SHOT stock, go to TipRanks’ Stock Analysis page.