Scandic Hotel A/S

The income statement for 2023 shows a profit of DKK 167,385 thousand against a loss of DKK 3,558 thousand last year, and the balance sheet at 31 December 2023 shows equity of DKK 283,970 thousand.
2023 has been a year were Scandic came back from Covid-19. The activity has not been affected by any restrictions, compared to last year where the activity during the first two months were affected by COVID-19 restrictions. The result for 2023 is positively effected by reassessment of deferred tax asset. References is made to note 16 for explanation hereof.
In the outlook section of the annual report for 2022 the outlook was affected by uncertainties from the war in Ukraine, high inflation, increasing interest rates etc. For 2023 was expected a profit before interest and tax in the level DKK 20 - 35 million.
All in all we have seen a higher activity, lower inflation, lower interest rates etc. during 2023 than expected. As a result of this, the revenue and net profit was significantly higher than expectations expressed in the outlook section in the 2022 annual report.
Non-financial matters
Scandic is the largest hotel operator and market leader in Denmark. Scandic has destinations in many cities in Denmark with a majority of the hotels in and around Copenhagen. As at 31 December 2023 Scandic had 6,178 rooms at 30 hotels.
31. December Scandic Exited Scandic Eremitage, Lyngby with 120 rooms
In 2026 new hotel in Aarhus will open with 342 rooms