DEMAND RECOVERS - CLEAR TURNAROUND AND IMPROVED RESULTS IN THE SECOND QUARTER
Boho Group reports a marked improvement in the second quarter. Following a weather-affected start to the year, demand rebounded and the strategy delivered: turnover increased and profitability strengthened significantly. Operating profit before depreciation and amortisation (EBITDA) for the quarter almost doubled to 4,146 (2,180) TSEK, operating profit turned positive at 1,439 (26) TSEK, and profit after tax improved by 1,809 TSEK. For the first half of the year, EBITDA improved by 5.5 MSEK and profit after tax by 6,529 TSEK compared with the same period last year.
APRIL - JUNE 2026 (compared with April - June 2025)
- Revenue from operator activities increased by 2.3 per cent to SEK 25,475,000 (24,906,000).
- Operating profit before depreciation and amortisation (EBITDA) improved by SEK 1,966 thousand to SEK 4,146 (2,180) thousand.
- Gross profit improved by SEK 1,130 thousand to SEK 4,017 (2,887) thousand.
- Operating profit turned positive at SEK 1,439 (26) thousand.
- Profit after tax improved by SEK 1,809 thousand and amounted to SEK -3,621 (-5,430) thousand.
- Earnings per ordinary share improved to SEK -0.06 (-0.09).
- Cash flow from operating activities improved to SEK 2,006 thousand (3,227).
JANUARY - JUNE 2026 (compared with January - June 2025)
- Revenue from operator activities amounted to SEK 37,524 (39,086) thousand.
- Operating profit before depreciation and amortisation (EBITDA) improved by SEK 5.5 million to SEK -1,314 (-6,799) thousand.
- Gross profit improved by 3,144 TSEK to -2,359 (-5,503) TSEK.
- Operating profit improved by SEK 4,914 thousand to SEK -6,730 thousand (SEK -11,644 thousand).
- Profit after tax improved by SEK 6,529 thousand and amounted to SEK -14,695 thousand (-21,224).
- Total comprehensive income for the period improved by SEK 16,439 thousand to SEK -10,970 thousand (-27,409).
- Earnings per ordinary share improved to SEK -0.25 (-0.37).
- The equity ratio based on market values stood at 77 per cent and reported equity at SEK 125,514 thousand.
SIGNIFICANT EVENTS DURING THE SECOND QUARTER
- During the quarter, it was announced that Mattias Kaneteg had sold a total of 2,000,000 shares in the company to Luxembourg Finance House (LFH), an international investment company founded by the Dutch property developer Frank Zweegers, which has a significant presence in the Marbella region. The shares will be transferred to the special purpose vehicle (SPV) previously established by Mattias Kaneteg and Fernando Moreno, and Felix Ruiz Hernandez also intends to transfer his holding to the SPV. Following the transaction, Mattias Kaneteg remains the principal owner of the SPV and a strong shareholder with significant influence - a clear demonstration of confidence in the company's strategy and long-term value potential.
- On 4 June, the 2026 Annual General Meeting was held, at which it was resolved to re-elect Jörgen Cederholm, Andreas Bonnier, Mattias Kaneteg, Fernando Moreno and Raouf Lotfi, and to elect Felix Ruiz Hernandez and Alex Villaverge Zweegers as new board members. Mattias Kaneteg was elected as Chairman.
SIGNIFICANT EVENTS SINCE THE END OF THE PERIOD.
- No significant events have occurred since the end of the period.
A Message from the CEO
Dear shareholders,
The second quarter marked a clear turning point for Boho Group. Following an unusually challenging first quarter, characterised by exceptionally heavy rainfall along the Costa del Sol, we saw the market gradually return to normal during the spring, whilst the improvements we had implemented in our operations began to take full effect. The combination of a more efficient organisation and a stronger market created the conditions for a significantly better quarter - overall, EBITDA for the first half of the year improved by SEK 5.5 million, despite largely unchanged turnover. This is clear evidence that our strategy is delivering results.
Turnover in the second quarter increased by 2.3 per cent compared with the same period last year, whilst profit strengthened significantly. When the market becomes more selective, it is quality, not price, that creates competitive advantages - and our guest ratings once again place us at the top of our competitive segment, in both the hotel and restaurant sectors.
The hotel business continues to be the strongest driver of our growth. During the first half of the year, hotel revenue increased by around seven per cent, driven by a higher average room rate and a continued strong premium position on the Golden Mile. Within Food & Beverage, too, Boho Club is developing as a destination - during the spring, we transformed one of our restaurants into the "Bungalow 21" concept, which further enhances its appeal. The refinancing arrangement with Deutsche Bank is now having a clear impact, reducing our annual interest costs by just over SEK 6 million.
At the same time, work continues on our most important long-term value drivers - the expansion of Boho Club on the Golden Mile. Following approval from the local council, we are now in the next phase of the detailed planning process. The vision is to develop the current facility from around 40 rooms to up to 260 rooms, complemented by restaurants, a beach club, wellness facilities and commercial operations. The combination of operational excellence and long-term property development is what makes Boho Group unique.
We are now entering the most important quarter of the year - the period which historically accounts for a significant proportion of our annual results. With the market gradually strengthening following the challenging start to the year in terms of weather, and our business in a stronger position than it was a year ago, we are heading into the summer season with great optimism and high expectations.
Kind regards,
Andreas Bonnier, CEO of Boho Group
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 2026-07-20 13:30 CEST.
If you have any questions, please contact:
Boho Group AB (publ)
Andreas Bonnier, CEO
E-mail: andreas@bohogroup.com
Phone: +46 733 36 65 77
Website: www.bohogroup.com
About the company
Boho Group is a hotel development and operating company at the top end of design and quality, operating on the Spanish 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 is award-winning for its design and architecture. Since its launch in 2019, both the hotel and the restaurant have established themselves as a leading player in Marbella. Visit the Boho Club 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 on telephone number 08-503 015 50 or e-mail ca@mangold.se.
