Sunborn Finance Oyj: INTERIM REPORT FOR JANUARY - SEPTEMBER 2019
STOCK EXCHANGE RELEASE
This is a summary of the Q3 2019 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 | Q3 / 2019 1 Jul- 30 Sep 2019 (3 months) | Q3 / 2018 1 Jul- 30 Sep 2018 (3 months) | YTD / 2019 1 Jan- 30 Sep 2019 (9 months) | YTD / 2018 1 Nov 2017 - 30 Sep 2018 (11 months) | Y 2018 1 Nov 2017 – 31 Dec 2018 (14 months) |
| Revenue | 906 | 896 | 2 719 | 3 241 | 4 136 |
| EBITDA | 722 | 663 | 2 082 | 2 602 | 3 295 |
| Investment property (Spa Hotels) | 64 155 | 63 500 | 63 500 | ||
| Total equity | 5 607 | 6 028 | 6 374 | ||
| Bond | 49 066 | 50 000 | 48 883 | ||
Executive Director, Hans Niemi
The period of Q3 2019 for Sunborn Finance Oyj and underlying operations in Naantali and Ruissalo Spa
hotels were in line with management expectations. Rental income was 0.9 M euros (0.9 M euros) and
with lower costs EBITDA was up +5.4 %. Operating revenue in the hotels was 8.56 M euros (8.00)
up +6.9 % YoY and the operating EBITDA levels relatively flat.
Sunborn Finance Oyj Financial summary 1 January – 30 September 2019
Sunborn Finance revenue consists of fixed lease income from the operator and other services income.
Lease income 1-9/2019 was 2.72 M€. Other services income refers to personnel costs for facility
services and is a cost/income neutral line item.
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 8th of 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
RELEASE DISTRIBUTION:
GlobeNewswire
www.sunborn.com/press/
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.
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.
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