Boho Group AB (publ) today publishes its interim report for the third quarter of 2025.
IMPROVED RESULT AND POSITIVE CASHFLOW DESPITE WEAKER SALES
The company reports a positive result after tax of SEK 3,494 thousand in the third quarter, up from SEK 2,121 thousand in the same period of 2024. Cash flow totaled SEK 1,843 thousand. The improvement in earnings is achieved despite lower sales, driven by increased operational efficiency and reduced financial expenses.
JULY - SEPTEMBER 2025
- Revenue from operator activities amounted to SEK 34,473 thousand (41,037).
- Revenue from the sale of properties amounted to SEK 9,704 thousand (13,220) and relates to the sale of two apartments in Hacienda Collection.
- Operating profit before depreciation and amortization (EBITDA) amounted to SEK 9,784 thousand (11,973).
- The company's cash flow from operating activities, including the sale of operating properties, amounted to SEK 7,753 thousand (-5,781).
- Gross profit declined by SEK 1,855 thousand and amounted to SEK 11,932 thousand (13,787).
- Profit after tax improved by SEK 1,373 thousand and amounted to SEK 3,494 thousand (2,121).
- Earnings per share for the period July 1-September 30, 2025 amounted to SEK 0.06 (0.04).
- Reported equity as of September 30, 2025 amounted to SEK 160,892 (198,390) thousand.
JANUARY - SEPTEMBER 2025
- Revenue from operator activities amounted to SEK 73,558 thousand (83,047).
- Revenue from the sale of properties amounted to SEK 14,870 thousand (54,481) and relates to the sale of three apartments in Hacienda Collection.
- Operating profit before depreciation and amortization (EBITDA) amounted to SEK 2,985 thousand (5,752). Operating profit adjusted for the result of divested properties amounted to SEK 622 thousand (2,502).
- The company's cash flow from operating activities, including the sale of operating properties, amounted to SEK -367 (SEK 62,620 thousand). Cash flow in 2024 included cash flow from the sale of properties amounting to SEK 50,841 thousand.
- Gross profit declined by SEK 2,592 thousand and amounted to SEK 6,428 thousand (9,020).
- Profit after tax amounted to SEK -17,732 thousand (-27,796 thousand).
- Earnings per share for the period January 1-September 30, 2025 amounted to SEK -0.31 (-0.48).
SIGNIFICANT EVENTS DURING THE THIRD QUARTER
- In September, the Moreno family acquired 1,000,000 shares in the company from Mattias Kaneteg. The Moreno family is a respected property developer on the Costa del Sol and has been proposed by the nomination committee to be elected as a member of the board.
SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD
- In October, the company received a conditional loan commitment from one of Europe's leading banks. The loan amounts to EUR 17.3 million with an interest rate of 2.35 percentage points above EURIBOR 12M. The loan will be used to fully refinance the company's existing loan with Alantra and will help reduce current interest costs by approximately 43%.
- In October, Boho Club was named Best Luxury Wellness Sanctuary in Europe and Best Luxury Boutique Hotel in Southern Europe..
A word from the CEO
Dear Shareholders,
The third quarter has been good for Boho Group - both operationally and strategically. The summer season is our most important period, and this year we have managed to deliver improved results despite a slightly weaker market than expected. Through a focus on efficient operations, cost discipline, and continued high commitment from our employees, we have strengthened both profitability and cash flow.
Profit after tax amounted to SEK 3.5 million (SEK 2.1 million), driven by efficiency improvements and lower financial costs. This clearly shows that our strategy is working - even in a situation where sales have declined slightly compared with the previous year.
Boho Club continues to outperform the market, despite geopolitical unrest and unusually long and warm summer weather throughout Europe, which has had a negative impact on travel. Our average occupancy rate was 78.1%, significantly higher than the 65.4% in our peer group. Compared with 2024, we saw a slight decline in occupancy and revenue per available room (RevPAR), but our results are significantly better than those of our competitors in the peer group. This is clear evidence of the strength of our brand and our ability to attract guests even in a somewhat more challenging market conditions.
After the end of the quarter, we have also taken two very important steps forward that confirm that Boho Group is now in a new phase. Firstly, we are in the final phase of refinancing the company's loans, which will reduce our financing costs substantially in the coming years. This strengthens our financial position, improves cash flow, and gives us greater freedom of action in the strategic initiatives that lie ahead.
Secondly, we have received the great news that Boho Club has been named "Best Boutique Hotel in Southern Europe" and Boho Wellness Center "Best Wellness Center in Europe" by Luxury Hotels of the World. These awards confirm that we are doing the right thing - that our quality is recognised by our guests internationally and that our brand is now among the most respected in Europe.
In Marbella, work is continuing on Boho Club's planned expansion, in line with the exemption from the current general plan that was granted earlier this year. We are now awaiting confirmation from the municipality that all objections have been resolved and final approval granted, so that we can take the next step on our journey to creating one of Spain's most attractive hotel destinations. Already at this stage, we can conclude that the progress made in the process has contributed to creating additional value for our propery. Concequently, we have initiated work to obtain an independent valuation, which we expect will significantly exceed the previous one. At the same time, we're continuing our talks with international hotel and real estate players, and the interest in the project confirms Boho Group's position as a credible and long-term partner.
As I sum up the quarter, I see a company that has matured. We're delivering profitability in a challenging market, which strengthens us, and we're getting international recognition for what we've built. This combination shows that Boho Group now stands on solid ground - ready to continue growing.
Going forward, we will focus on building a sustainable and profitable hotel platform with international reach. Boho Group is now stronger, more focused and better positioned than ever.
Thank you for your continued support and trust.
Kind regards,
Andreas Bonnier CEO Boho Group
If you have any questions, please contact:
Boho Group AB (publ)
Andreas Bonnier, VD
Email: andreas@bohogroup.com
Phone: +46 733 36 65 77
Website: www.bohogroup.com
Brief description of the Company
Boho Group is a hotel development and operating company at the forefront of design and quality, with operations on Spain's Costa del Sol. The company was founded in 2014.
Boho Group owns and operates Boho Club, a boutique resort on the Golden Mile in Marbella that has won awards for its design and architecture. Since its launch in 2019, both the hotel and restaurant have established themselves as leading players in Marbella. Visit Boho Club's website, www.bohoclub.com, to book a hotel room or a table in the restaurant. The restaurant is open every day and serves breakfast, lunch, and dinner.
Mangold is the Company's Certified Adviser. Mangold can be reached by phone at +46 8 503 015 50 or by email at ca@mangold.se.
This information is information that Boho Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-11-07 08:30 CET.