Boho Group (BOHO) Q3 2025 earnings summary

Executive summary

• Achieved positive after-tax profit of SEK 3.5 million in Q3 2025, up from SEK 2.1 million year-over-year, despite lower sales, driven by operational efficiency and reduced financial expenses.

• Cash flow from operating activities in Q3 was SEK 7.8 million, a significant improvement from SEK -5.8 million in Q3 2024.

• Boho Club outperformed its peer group with a 78.1% occupancy rate versus 65.4%, despite a weaker Marbella market.

• Boho Club received international recognition, winning awards for Best Luxury Wellness Sanctuary and Best Luxury Boutique Hotel in Europe.

Financial highlights

• Q3 2025 revenue: SEK 44.2 million (Q3 2024: SEK 54.3 million); operator activities revenue: SEK 34.5 million (Q3 2024: SEK 41.0 million); property sales: SEK 9.7 million (Q3 2024: SEK 13.2 million).

• Q3 EBITDA: SEK 9.8 million (Q3 2024: SEK 12.0 million); gross profit: SEK 11.9 million (Q3 2024: SEK 13.8 million).

• January–September 2025 revenue: SEK 88.4 million (2024: SEK 137.5 million); EBITDA: SEK 3.0 million (2024: SEK 5.8 million).

• Profit after tax for January–September: SEK -17.7 million (2024: SEK -27.8 million); EPS: SEK -0.31 (2024: SEK -0.48).

• Equity as of September 30, 2025: SEK 160.9 million (2024: SEK 198.4 million).

Outlook and guidance

• Investments and structural changes in 2025 are expected to positively impact profitability in 2026.

• The company is focused on building a sustainable, profitable hotel platform with international reach.

• The Marbella market decline is seen as temporary, with long-term appeal remaining strong.