Boho Group (BOHO) Q2 2025 earnings summary

Executive summary

• Operating profit improved by SEK 3.4 million in Q2 2025, reaching SEK 26 thousand despite a 6% drop in operator revenue and challenging weather conditions.

• Gross profit in Q2 rose to SEK 2.9 million from SEK 0.1 million year-over-year; profit after tax improved to SEK -5.4 million from SEK -9.7 million.

• Strategic agreements and municipal approvals in Marbella support future expansion and brand positioning.

Financial highlights

• Q2 2025 operator revenue: SEK 24.9 million (down 6% year-over-year); H1 2025: SEK 39.1 million (down 7%).

• Q2 EBITDA: SEK 2.2 million (up from SEK -0.5 million); H1 EBITDA: SEK -6.8 million (down from SEK -6.2 million).

• Q2 earnings per share: SEK -0.09 (improved from SEK -0.17); H1: SEK -0.37 (improved from SEK -0.52).

• Equity as of June 30, 2025: SEK 159.1 million (down from SEK 210.2 million year-over-year).

• Cash and cash equivalents at period end: SEK 9.9 million (down from SEK 73.3 million year-over-year).

Outlook and guidance

• Q3 is expected to be the most significant quarter for earnings and cash flow.

• Expansion plans for Boho Club include up to 270 rooms and 7-8 restaurants, pending building permits.

• Continued divestment of non-core apartments expected to support liquidity.