Boho Group (BOHO) Q2 2024 earnings summary

Executive summary

• Revenue from operator business Boho Club grew 10% in H1 2024, with continued growth expected in Q3.

• Strategic partnership with Catella Corporate Finance established to support refinancing and new hotel projects.

• Name change to Boho Group AB underway, reflecting focus on hotel property development and operations.

• Expansion of Boho Club in Marbella, including a wellness retreat, expected to boost revenue by 20–30% in the next 12 months.

Financial highlights

• H1 2024 net sales: SEK 83,272 thousand, down from SEK 118,092 thousand in H1 2023.

• EBITDA for H1 2024: SEK -6,221 thousand (H1 2023: SEK -5,831 thousand).

• Income after tax for H1 2024: SEK -29,917 thousand (H1 2023: SEK -22,541 thousand).

• Earnings per share for H1 2024: SEK -0.52 (H1 2023: SEK -0.39).

• Cash flow from operating activities in Q2 2024: SEK 77,602 thousand, positively impacted by property sales.

• Shareholders' equity at 30 June 2024: SEK 210,222 thousand (30 June 2023: SEK 228,060 thousand).

Outlook and guidance

• Boho Club revenue growth expected to continue at 10% in Q3 2024.

• Expansion projects in Marbella anticipated to increase turnover by 20% per year, with full impact in 2025.

• Strategic focus on expanding Boho Club concept to new destinations around the Mediterranean.