Mariner Finance plc - Updated Financial Analysis Summary

On 2 June 2025, Mariner Finance plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and financial position of Mariner Finance in 2025:

• Total revenues are expected to increase by 3.5% to €20.7 million as the higher income from container services (+10.3% to €13.3 million) and cargo storage (+15.6% to €2.8 million) are expected to outweigh the decline in other service income (-18.3% to €4.2 million). Meanwhile, the rental income from the Merkela Building at central Riga is forecasted to increase by 6.5% to €0.47 million.
• EBITDA is expected to climb by 8.5% to €11.1 million compared to €10.2 million in 2024 as the Group expects slightly lower net operating expenses.
• Finance costs are anticipated remain relatively unchanged at €2.5 million. As a result, the interest coverage is forecasted to improve marginally to 4.4 times from 4.0 times in 2024.
• Total debt is forecasted to remain at the €57 million level. Likewise, the gearing ratio (calculated as total debt divided by total debt plus equity) is expected to remain relatively unchanged at 46.5%.
• Due to the further improvement in EBITDA, the net debt to EBITDA multiple is forecasted to improve to 5.1 times compared to 5.5 times as at 31 December 2024.
• The company is expected to provide net loans to parent of €6.55 million. As a result, the loans receivable as at the end of 2025 are forecasted to climb to €41.4 million.