28.2.2025 21:00:02 EET | Sunborn London Oyj |
Half Year financial report
Sunborn London Oyj
HALF YEAR REPORT FOR JULY – DECEMBER 2024
Sunborn London Oyj
STOCK EXCHANGE RELEASE
This is a summary of the July – December 2024 half year financial report. The complete report is attached to this release and is also available at www.sunborn.com/press/
EUR thousand
1 Jul – 31 Dec 2024
1 Jul – 31 Dec 2023
1 Jan – 31 Dec 2024
1 Jan – 31 Dec 2023
Rental income
1 747
1 627
3 471
3 223
EBITDA
1 567
1 481
3 183
2 930
Operating profit
813
752
1 675
1 421
Investment property (Yacht hotel)
30 517
32 026
30 517
32 026
Total equity
24 570
25 873
24 570
25 873
Bond
23 820
24 185
23 820
24 185
Financial summary 1 July – 31 December 2024
Rental Income for the reporting period was 1.747 MEUR (1.627 MEUR). Rental income in EUR was slightly affected by exchange rate fluctuations. Operating costs were in line with the budget.
Book value of the yacht hotel as of 31 December 2024 approximates the fair value of the yacht hotel based on income approach using discounted cash flow analyses. The fair value of the Yacht hotel is 49.9 MEUR based on the latest valuation report dated February 2025.
Notable events during and reporting period after the end of the reporting period
On 5th September 2024 Sunborn London Oyj successfully obtained bondholder approval for amendments to the terms of its Senior Secured Bonds. The approved amendments include an extension of the bond maturity to 5 February 2026.
Estimate future development
Management believes the property will continue successful operations and Sunborn London Oyj’s financial performance and debt service capacity to remain stable.
Short-term risks and uncertainties
Sunborn London’s financial risks related to business are market risk (including interest rate risk and foreign currency risk), credit risk, liquidity risk and refinancing risk.
Sunborn London OyjBoard of Directors
For additional information, please contact:
Sunborn Group Executive Director Hans Niemi, tel.+358 2 44 54 513, hans.niemi@sunborn.com
Sunborn Group CFO Niina Stade, tel.+358 44 55 66 153, niina.stade@sunborn.com
DISTRIBUTION:Nasdaq Helsinki Ltdwww.sunborn.com/press/
Sunborn Group in brief
Sunborn London is a part of Sunborn Group. A privately owned and over 50 years old group of companies headquartered in Finland focusing on development, management and ownership of high-quality hospitality property and business operations. Sunborn group has presence in seven countries with operations ranging real-estate, hotels and lodging, residential communities, yacht hotels, food service, and catering among others.
www.sunborn.com
Disclaimer
The information contained in this release shall not constitute an offer to sell or the solicitation of an offer to buy securities of Sunborn London Oyj in any jurisdiction.
Attachments
Download announcement as PDF.pdf
Sunborn London Oyj Financial statements H2 2024.pdf
