Boho Group (BOHO) Q4 2025 earnings summary

Executive summary

• Earnings improved year-over-year despite lower sales, driven by cost discipline and operational efficiency.

• Average occupancy rate was 11% higher than peers, indicating market share gains in a cautious market.

• Strategic refinancing and municipal approval for major expansion position the business for future growth.

Financial highlights

• Full-year revenue from operator activities: SEK 91,887 thousand (104,788), and property sales: SEK 20,045 thousand (59,462).

• EBITDA for the year: SEK -4,553 thousand (-5,834); Q4 EBITDA: SEK -7,229 thousand (-11,585).

• Profit after tax for the year: SEK -32,878 thousand (-44,520); Q4: SEK -15,145 thousand (-16,898).

• Earnings per share for the year: SEK -0.57 (-0.77).

• Cash flow from operating activities for the year: SEK -5,395 thousand (56,326).

• Equity as of Dec 31, 2025: SEK 142,983 thousand (192,961).

Outlook and guidance

• 2026 expected to benefit from lower financing costs, improved efficiency, and strong property values.

• Expansion of Boho Club to up to 28,400 m² enabled by municipal approval, supporting long-term growth.