Eden Finance plc - Updated Financial Analysis Summary

On 26 June 2024, Eden Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of Eden Leisure Group Limited (the Guarantor) in 2024:

• Revenues are expected to increase by 3.2% to a record of €46.8 million, driven by higher income from both the hospitality segment (+3.6% to €34.5 million) and the entertainment and leisure segment (+2.1% to €12.3 million).
• EBITDA is also forecasted to increase by 3.7% to €12.3 million compared to €11.9 million in 2023.
• Net finance costs are anticipated to be 4.9% higher at €2.3 million.  However, the interest cover is expected to remain practically unchanged at the 5.4 times level.
• Total debt is expected to surge by 37% (or €20 million) to €73.4 million as the Group continues with the redevelopment of the former Cinema 16 building. The gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to rise to 34.9% compared to 28.1% as at the end of 2023.
• The net debt-to-EBITDA multiple is expected to increase to 5.7 times compared to 4.2 times as at the end of 2023.