Sunborn London Oyj: HALF YEAR REPORT FOR JANUARY - JUNE 2017

Sunborn London Oyj: HALF YEAR REPORT FOR JANUARY - JUNE 2017 Sunborn London OyjSTOCK EXCHANGE RELEASE 28 September 2017, at 16:00 pmThis is a summary of the January - June 2017 half year report. The complete report is attached to this release and is also available at http://www.sunborn...

London, 28/09/2017 (informazione.news - comunicati stampa - turismo)

Sunborn London Oyj

STOCK EXCHANGE RELEASE

28 September 2017, at 16:00 pm

This is a summary of the January - June 2017 half year report. The complete report is attached to this release and is also available at http://www.sunborn.com/sblondonlisting/

Rental Income was 1,50 M€ (1,63 M€). Rental income in EUR was slightly affected by weakening of GBP versus EUR, which is in line with our expectations considering Brexit negotiations are taking place. With comparable exchange rates rental income remained the same.

Operating costs increased due to the one-time costs related to the listing.

Fair value of the yacht hotel as at 30 June 2017 approximates the book value of the yacht hotel. The volatility in the fair value is mainly due to fluctuation of the GBP/EUR exchange rate.

The company completed the listing of the Senior Secured Floating Rate Bond to Nasdaq Helsinki on 21 March, 2017.

No significant changes in business environment.

The company estimates that its financial performance and debt service capacity will remain stable.

Mooring license with Royal Docks Management Authority (RODMA) was renewed in September for a further five years.

The risk of depreciation of the GBP against EUR and its possible negative impact on the returns is not currently hedged. The management review financial risks on regular basis to manage financial risk position and decide on necessary actions.

Sunborn London Oyj
Board of Directors

For additional information, please contact:

Sunborn Group CFO Niina Stade, tel.+358 44 55 66 153, niina.stade@sunborn.com

DISTRIBUTION:
Nasdaq Helsinki Ltd
http://www.sunborn.com/sblondonlisting/

Sunborn is over 40 year old, privately owned company based in Finland, with decades of experience in the hospitality sector. Our focus is on the development of luxury spa and yacht hotels, restaurants and other high-quality property.

Sunborn is present at the moment in Finland, Denmark, United Kingdom and Gibraltar. Operations vary from spa resorts and residential communities to hotels and yacht hotels, restaurants, and catering operations in the best locations.

www.sunborn.com