Sunborn Finance Oyj: Quarterly Report, Q4 2018
Sunborn Finance Oyj
STOCK EXCHANGE RELEASE
28 February 2018
This is a summary of the quarterly report Q3 2018. The complete report is attached to this release and is also available at www.sunborn.com/press/
Key Figures Issuer Sunborn Finance Oyj | |||
EUR thousand | 1 Oct - 31 Dec 2018 | 1 Jan – 31 Dec 2018 | |
Rental income | 834 | 3 338 | |
EBITDA | 745 | 2 833 | |
Investment Property(Spa Hotels) | 63 500 | ||
Total Equity | 7 676 | ||
Borrowings | 48 782 |
Chief Executive Director
Sunborn Finance Oy results for Q4 reached our budgeted income and cost targets. The
revenue and profitability for the financial year is largely in line with 2017 despite major renovation
works being conducted in Naantali. The upgraded facilities have been for most parts finalized in
2018 and will positively impact ADR, occupancy and ratings of the hotels.
Sunborn Finance Oyj Financial summary 1 January 2018 – 31 December 2018
Sunborn Finance receives lease income from the operator. Lease income 1/2018 – 12/2018
was 3,338 M€. The 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.
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
DISTRIBUTION:
Nasdaq Helsinki Ltd
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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