Sunborn (Gibraltar) Limited Plc: INTERIM REPORT FOR JANUARY – DECEMBER 2019
SUNBORN GIBRALTAR PLC: INTERIM REPORT FOR JANUARY – DECEMBER 2019STOCK EXCHANGE RELEASE
February 29th 2020This is a summary of the Q4 2019 interim financial report. The complete report is attached to this release and is also available at www.sunborn.com/press/Key Figures (IFRS) – Issuer Sunborn Gibraltar PlcSunborn Gibraltar Plc Financial summary 1 January – 30 December 2019Sunborn receives lease income from the management company. Lease income was £3.18M in 2019 (£3.18M in 2018). Operating costs were in line with previous year.The value of the Yacht hotel is at €113.6M based on the latest valuation report dated May 2019.Business environmentThe months of November and December experienced a decline in leisure business as expected due to the published Brexit date of 31 October, other than this there were no notable changes in the business environment.Estimate future developmentThe company estimates that its financial performance and debt service capacity will remain stable.Short-term risks and uncertaintiesThe Company is exposed to foreign currency risk through rental receivables and future cash flows arising from the lease contract of the Yacht hotel that is denominated in GBP.
The management review financial risks on regular basis to manage financial risk position and decide on necessary actions.Sunborn Gibraltar Plc
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 briefSunborn is over 40 years 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.www.sunborn.com
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 Gibraltar Plc in any jurisdiction.AttachmentFinancial statements_Sunborn Gibraltar Ltd Q4 2019
February 29th 2020This is a summary of the Q4 2019 interim financial report. The complete report is attached to this release and is also available at www.sunborn.com/press/Key Figures (IFRS) – Issuer Sunborn Gibraltar PlcSunborn Gibraltar Plc Financial summary 1 January – 30 December 2019Sunborn receives lease income from the management company. Lease income was £3.18M in 2019 (£3.18M in 2018). Operating costs were in line with previous year.The value of the Yacht hotel is at €113.6M based on the latest valuation report dated May 2019.Business environmentThe months of November and December experienced a decline in leisure business as expected due to the published Brexit date of 31 October, other than this there were no notable changes in the business environment.Estimate future developmentThe company estimates that its financial performance and debt service capacity will remain stable.Short-term risks and uncertaintiesThe Company is exposed to foreign currency risk through rental receivables and future cash flows arising from the lease contract of the Yacht hotel that is denominated in GBP.
The management review financial risks on regular basis to manage financial risk position and decide on necessary actions.Sunborn Gibraltar Plc
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 briefSunborn is over 40 years 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.www.sunborn.com
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 Gibraltar Plc in any jurisdiction.AttachmentFinancial statements_Sunborn Gibraltar Ltd Q4 2019
