St. Anthony Co plc - Updated Financial Analysis Summary

On 26 June 2023, St Anthony Co plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of St Anthony in 2023:

• Revenues are expected to increase by a further 49% to €10.5 million driven by the expectation of the improvement in business from the Imperial retirement home in Sliema.
• In view of the anticipated growth in income, EBITDA is expected to improve materially to €2 million compared to €0.52 million in 2022.
• Net finance costs are expected to increase to €1.71 million compared to €1.33 million in 2022. However, as a result of the forecasted improvement in EBITDA, the interest cover is projected to improve to 1.19 times, compared to 0.39 times last year.
• In terms of financial position, total assets and total liabilities are forecasted to remain virtually unchanged at €66 million and €45 million respectively.
• Total debt is expected to rise by 3.4% to €38.5 million. As a result, the gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to increase to 65.2% compared to 63.9% as at the end of 2022. Meanwhile, as a result of the notable growth in EBITDA, the net debt-to-EBITDA multiple is expected to improve to 18 times from 67.5 times in 2022.