On 26 June 2026, G3 Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of G3 Holdings Limited (the Guarantor) in 2026:
- Revenues are expected to increase by 10.4% to a record €21.8 million (2025: €19.8 million), driven by the full-year operation of the VITA Hotel in St Julian’s and the Pergola Hotel remaining open throughout the winter months as well as rate improvements across the Group’s hotel portfolio. Furthermore, turnover from the F&B segment is also set to increase.
- EBITDA is expected to rise by 9.9% to €6.6 million (2025: €6.0 million). As a result, the EBITDA margin is set to remain broadly stable at 30% from the previous year.
- Net finance costs are anticipated to increase by 13.3% to €1.65 million from €1.46 million in the previous year. As a result, the rising finance costs are set to offset the improvement in EBITDA, and the interest cover is expected to remain broadly unchanged at 4.0 times from last year.
- Total debt is projected to decline by 3.5% (or €1.1 million) to €29.7 million, including €11.9 million in lease liabilities. The gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to ease to 52.0% from 55.9% in 2025.
- When accounting for the forecasted cash balance of €1.2 million, the net debt-to-EBITDA multiple is projected to improve to 4.3 times compared to 5.0 times in 2025.