Sunborn London Oyj - Half Year financial report

Sunborn London Oyj: HALF YEAR REPORT FOR JANUARY - JUNE 2017

Sunborn London Oyj: HALF YEAR REPORT FOR JANUARY - JUNE 2017

Sunborn London Oyj

STOCK EXCHANGE RELEASE

28 September 2017, at 16:00 pm

This is a summary of the January - June 2017 half year report. The complete
report is attached to this release and is also available at
http://www.sunborn.com/sblondonlisting/


SUNBORN LONDON OYJ HALF YEAR REPORT  1 January - 30 June 2017

Key Figures

 EUR thousand               1 Jan - 30 Jun     1 Jan - 30 Jun    1 Jan - 31 Dec
                                      2017               2016              2016
-------------------------------------------------------------------------------
 Rental income                       1 496              1 632             3 132

 Operating profit                      637                883             1 499

 Investment property                41 669             43 174            42 422
 (yacht hotel)

 Total Equity                       32 944             32 279            32 594

 Borrowings                         31 193                  0            31 106


Financial summary 1 January - 30 June 2017

Rental Income was 1,50 M€ (1,63 M€). Rental income in EUR was slightly affected
by weakening of GBP versus EUR, which is in line with our expectations
considering Brexit negotiations are taking place. With comparable exchange rates
rental income remained the same.

Operating costs increased due to the one-time costs related to the listing.

Fair  value of the yacht hotel as at 30 June 2017 approximates the book value of
the  yacht hotel. The volatility in the  fair value is mainly due to fluctuation
of the GBP/EUR exchange rate.

Notable Events during the reporting

The company completed the listing of the Senior Secured Floating Rate Bond to
Nasdaq Helsinki on 21 March, 2017.

Business environment

No significant changes in business environment.

Estimate future development

The company estimates that its financial performance and debt service capacity
will remain stable.

Notable events after the end of the reporting period

Mooring license with Royal Docks Management Authority (RODMA) was renewed in
September for a further five years.

Short-term risks and uncertainties

The risk of depreciation of the GBP against EUR and its possible negative impact
on the returns is not currently hedged. The management review financial risks on
regular basis to manage financial risk position and decide on necessary actions.

Sunborn London Oyj
Board of Directors

For additional information, please contact:

Sunborn Group CFO Niina Stade, tel.+358 44 55 66 153, niina.stade@sunborn.com

DISTRIBUTION:
Nasdaq Helsinki Ltd
http://www.sunborn.com/sblondonlisting/

Sunborn Group in brief

Sunborn is over 40 year 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 London Oyj in any
jurisdiction.








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Priedai:

IFRS-financial statements Sunborn London Oy 30.6.2017.pdf