Boho Group AB (publ) today publishes its interim report for the second quarter of 2025.

Significant improvement in operating profit despite unfavorable circumstances
Despite unfavorable weather conditions at the beginning of the quarter, operating profit improved by SEK 3,351 thousand, from SEK –3,325 thousand to SEK 26 thousand. The improvement occurred despite slightly lower sales, which can be attributed to, among other things, the early Easter in 2025. The quarter is thus further proof of the operational maturity of the Marbella facility, combined with lower overhead costs.

APRIL - JUNE 2025

• Revenue from operator activites amounted to SEK 24,906 thousand (26,536), corresponding to al decrease of 6%.
• Revenue from the sale of properties during the period amounted to SEK 0 thousand (27,298).
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK 2,180 thousand (-467), corresponding to an improvement of SEK 2,647 thousand compared with the previous year.
• The company's cash flow from operating activities, including the sale of operating properties, amounted to SEK -3,227 thousand (SEK 77,602 thousand). Cash flow in 2024 included cash flow from the sale of properties amounting to SEK 91,333 thousand (SEK 0 thousand).
• Gross profit improved by SEK 2,780 thousand and amounted to SEK 2,887 thousand (107).
• Profit after tax amounted to SEK -5,430 thousand (-9,703).
• Earnings per share for the period April 1–June 30, 2025 amounted to SEK -0.09 (-0.17).
• Reported equity as of June 30, 2025 amounted to SEK 159,052 (210,222) thousand. During the quarter, equity decreased due to a dividend of SEK 6,499 thousand on preference shares and translation differences of SEK 6,186 thousand arising from foreign operations.

JANUARY - JUNE 2025

• Revenue from operator activities amounted to SEK 39,086 thousand (42,011), corresponding to a decrease of 7%.
• Revenue from the sale of properties during the period amounted to SEK 5,166 thousand (41,261) and relates to the sale of an apartment in Hacienda Collection.
• Operating profit before depreciation and amortization (EBITDA) amounted to SEK -6,799 thousand (-6,221), corresponding to a deterioration of SEK 578 thousand compared with the previous year. Operating profit adjusted for the result of divested properties amounted to SEK -6,910 thousand (-7,611 thousand).
• The company's cash flow from operating activities, including the divestment of operating properties, amounted to SEK -8,119 thousand (68,401 thousand).
• Gross profit declined by SEK 737 thousand and amounted to SEK -5,503 thousand (-4,766).
• Profit after tax amounted to SEK -21,224 thousand (-29,917 thousand).
• Earnings per share for the period January 1–June 30, 2025 amounted to SEK -0.37 (-0.52).

SIGNIFICANT EVENTS DURING THE SECOND QUARTER

• At the end of April, the Marbella City Council approved Boho Group's request for an exemption from the current zoning plan. This approval paves the way for the creation of 28,400 square meters of hotel space and is the second exemption of its kind granted to a hotel project in the municipality.
• At the end of June, Boho Group entered into an agreement with the internationally acclaimed restaurant group La Petite Maison (LPM) to establish a new LPM restaurant at Boho Club Marbella, further strengthening Boho Club's position as a leading hospitality destination in southern Europe.

SIGNIFICANT EVENTS AFTER THE END OF THE PERIOD

• No significant events have occurred since the end of the period.

A word from the CEO

Dear Shareholders,
During the second quarter, we took important strategic steps forward – both operationally and in terms of our future development. We stand firm as an attractive lifestyle destination in Marbella, we are strengthening our profitability and we continue to attract interest from some of the world's most renowned players in the hospitality industry. This creates strong confidence in the journey we are on.

The second quarter was marked by a continued challenging external environment. The year began with the worst weather conditions in over two decades, which significantly delayed the start of the season. Since then, global uncertainty has intensified – first through geopolitical instability in the US and then through the ongoing war in the Middle East. Both factors have had a negative impact on our key markets, particularly travel from the Gulf region, which traditionally constitutes an important customer group during the spring and summer seasons.

Despite these external headwinds, Boho Club has maintained its strong position in the market. We see that our competitors in Marbella have been affected to the same extent, and that we remain one of the most sought-after hotel and lifestyle destinations in the region.

It is gratifying to note that the work we have done over the past year to streamline operations, strengthen our internal governance, and optimize our cost structure is now beginning to yield clear results. Our operating profit has improved significantly compared to the previous year, enabling us to deliver our strongest operating result to date for a second quarter. Operating profit before depreciation and amortization (EBITDA) amounted to SEK 2.2 million, an improvement of SEK 2.6 million compared with the same period last year. At the same time, we have maintained a strong focus on cost discipline throughout the organization—an ambition that the Board of Directors itself has exemplified by waiving its board fees for the coming years.

While we are streamlining our operations, we are also investing. An important step in our long-term strategy was taken during the quarter with the agreement with the internationally renowned restaurant brand La Petite Maison (LPM). Their decision to establish their new European flagship restaurant with us is a strong testament to the quality of Boho Club and our ambition to create a world-class destination. We are already seeing how this collaboration has opened doors for more international players in high-end hospitality, who are showing interest in collaborating with us.

Another significant step forward came in April when we became the first hotel project in Marbella to receive formal approval for an exemption from the current detailed plan. This is a powerful confirmation that the municipality of Marbella shares our vision and sees the potential in our long-term development. This decision is key to realizing the next phase of our growth journey and has already led to new discussions with leading players in the hotel and real estate sector regarding our attractive land with an upcoming increase in building rights of 28,400 square meters. We see these discussions as a natural next step in our development – and as an important parameter in the company's aim to realise its future value.

We are now in the middle of the high season, where our full focus is on delivering exceptional guest experiences every day. But at the same time, we continue to build – our dream, our platform, our shareholder value. Every day counts.

Thank you for following our journey.

Kind regards,
Andreas Bonnier CEO Boho Group

If you have any questions, please contact:Boho Group AB (publ)

Andreas Bonnier, VD
Email: andreas@bohogroup.com
Phone: +46 733 36 65 77
Website: www.bohogroup.com

Brief description of the Company
Boho Group is a hotel development and operating company at the forefront of design and quality, with operations on Spain's Costa del Sol. The company was founded in 2014.

Boho Group owns and operates Boho Club, a boutique resort on the Golden Mile in Marbella that has won awards for its design and architecture. Since its launch in 2019, both the hotel and restaurant have established themselves as leading players in Marbella. Visit Boho Club's website, www.bohoclub.com, to book a hotel room or a table in the restaurant. The restaurant is open every day and serves breakfast, lunch, and dinner.

Mangold is the Company's Certified Adviser. Mangold can be reached by phone at +46 8 503 015 50 or by email at ca@mangold.se.

If you have any questions, please contact:

Boho Group AB (publ)

Andreas Bonnier, VD
Email: andreas@bohogroup.com
Phone: +46 733 36 65 77
Website: www.bohogroup.com

Brief description of the Company
Boho Group is a hotel development and operating company at the forefront of design and quality, with operations on Spain's Costa del Sol. The company was founded in 2014.

Boho Group owns and operates Boho Club, a boutique resort on the Golden Mile in Marbella that has won awards for its design and architecture. Since its launch in 2019, both the hotel and restaurant have established themselves as leading players in Marbella. Visit Boho Club's website, www.bohoclub.com, to book a hotel room or a table in the restaurant. The restaurant is open every day and serves breakfast, lunch, and dinner.

Mangold is the Company's Certified Adviser. Mangold can be reached by phone at +46 8 503 015 50 or by email at ca@mangold.se.

This information is information that Boho Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 CEST on 2025-07-18.

If you have any questions, please contact:

Boho Group AB (publ)

Andreas Bonnier, CEO
E-mail: andreas@bohogroup.com
Phone: +46 733 36 65 77
Website: www.bohogroup.com

About the company
Boho Group is a hotel development and operating company at the top end of design and quality, operating on the Spanish Costa del Sol. The company was founded in 2014.

Boho Group owns and operates Boho Club, a boutique resort on the Golden Mile in Marbella that is award-winning for its design and architecture. Since its launch in 2019, both the hotel and the restaurant have established themselves as a leading player in Marbella. Visit the Boho Club website, www.bohoclub.com, to book a hotel room or a table in the restaurant. The restaurant is open every day and serves breakfast, lunch and dinner.

Mangold is the Company's Certified Adviser. Mangold can be reached on telephone number 08-503 015 50 or e-mail ca@mangold.se.

This information is information that Boho Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-07-18 08:30 CEST.

Attachments
Boho Delårsrapport Q2 EN

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