Bortex Group Finance plc - Updated Financial Analysis Summary

On 28 April 2025, Bortex Group Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and financial position of Bortex Group Holdings Ltd. (the Guarantor) for the year ending 31 October 2025:

• Revenue is expected to increase by 12.0% to €26.7 million as the Group expects higher income from both operating segments, namely apparel (+13.1% to €17.9 million) and hotel operations (+9.9% to €8.78 million). Bortex Group will be opening two new boutique hotels during 2025.
• EBITDA is projected to surge by 23.4% to a record of €6.62 million reflecting improved margins across both operating segments.
• Net finance costs are forecasted to drop by 5.8% to €1.22 million, leading to an improved interest cover of 5.4 times compared to 4.1 times in the previous year.
• Total debt is forecasted to increase by 10.8% to €35.8 million when including lease liabilities amounting to €7 million. Accounting for an expected cash balance of €1.04 million net debt is anticipated to climb to €34.7 million from €29.8 million as at 31 October 2024. Nonetheless, the net debt-to-EBITDA is forecasted to decline to 5.2 times compared to 5.5 times in the previous financial year due to the anticipated improvement in EBITDA.
• The gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to remain at the 40% level. Likewise, the debt-to-asset ratio is expected to remain at the 0.36 times level.