Sunborn Finance Oyj: Interim Report for January - March 2019
Sunborn Finance Oyj
STOCK EXCHANGE RELEASE
29 May 2019
This is a summary of the Q1 2019 interim financial report. The complete report is attached to this release and is also available at www.sunborn.com/press/
| Key Figures (IFRS) - Issuer Sunborn Finance Oyj | |||||
| EUR thousand | 1 Jan- 31 Mar 2019 (3 months) | 1 Nov 2017 - 31 Mar 2018 (5 months) | 1 Nov 2017 - 31 Dec 2018 (14 months) | ||
| Revenue | 907 | 1 451 | 4 136 | ||
| EBITDA | 651 | 1 197 | 3 295 | ||
| Investment property (spa hotels) | 63 500 | 63 500 | 63 500 | ||
| Total equity | 5 485 | 8 735 | 6 374 | ||
| Bond | 48 922 | 48 596 | 48 883 | ||
Executive Director, Hans Niemi
The year for Sunborn Finance Oyj and underlying operations in Naantali and Ruissalo Spa hotels
commenced positively in line with management expectations. The properties have undergone
significant renovations in FY2018 and management is now focused on materializing increased
RevPar and profitability and fine tuning of operational departments.
Sunborn Finance Oyj Financial summary 1 January - 31 March 2019
Sunborn Finance revenue consists mainly of fixed lease income from the operator.
Revenue 1-3/2019 was 0,9 M€. Costs were in line with previous year.
The value of the Spa hotels is at Naantali Spa 54 M€ and at Ruissalo Spa 28,5 M€
(1/3 in Sunborn Finance assets) according the valuation reports.
Notable events during and after the end of the reporting period
The company completed the listing of the Senior Secured Floating Rate Bond to Nasdaq Helsinki
on 8 February, 2019.
Business environment
No notable changes in the business environment.
Estimated future development
The company estimates that its financial performance and debt service capacity will remain stable.
Sunborn Finance Oyj
Board of Directors
For additional information, please contact:
Sunborn Group Executive Director Hans Niemi, hans.niemi@sunborn.com
Sunborn Group CFO Niina Stade, niina.stade@sunborn.com
Sunborn Group in brief
Sunborn is over 40 year old, privately owned company based in Finland, with decades of experience in the hospitality sector. Our focus is on the development of luxury spa and yacht hotels, restaurants and other high-quality property.
Sunborn is present at the moment in Finland, Denmark, United Kingdom and Gibraltar. Operations vary from spa resorts and residential communities to hotels and yacht hotels, restaurants, and catering operations in the best locations.
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 Finance Oyj in any jurisdiction.
Attachment
- Sunborn_Finance Q1 2019 Report (https://ml-eu.globenewswire.com/Resource/Download/d7bbe521-f9d2-4287-b621-61f1d24c0a18)
