Business
Final Results
Final Results.
About this update from Safestay Plc
[{"type":"text","content":"\n\n23 June 2025\n \nSafestay PLC\n \n(\"Safestay\" or the \"Company\")\n \nFinal Results\n \nYear of good strategic and operational progress underpins record revenues and Safestay's ambitions to double size of its portfolio over the medium term\n \nSafestay (AIM: SSTY), the owner and operator of an international brand of contemporary hostels, is pleased to announce its audited final results for the year ended 31 December 2024 (the \"Year\").\n \nFinancial highlights:\n \n\n\n\n\n· \n\n\nRecord revenue of £23.0m (includes discontinued operations) (2023: £22.5m) and Adjusted EBITDA of £6.5m (2023: £6.8m)\n\n\n\n\n\n\n\n· \n\n\nUK sales increased by 8% to £9.0m (2023: £8.3m) accounting for 39% (2023: 37%) of revenue generated by the Group;\n\n\n\n\n\n\n\n· \n\n\nOverseas sales totalled £14.0m (2023: £14.2m), representing a 1% decrease year-on-year due to unfavourable movements in the Euro, which had an estimated £0.3m impact on revenue\n\n\n\n\n· \n\n\nReduced loss after tax of £0.9m (2023 restated1: loss of £1.4m)\n\n\n\n\n· \n\n\nLoss per share of 1.37p (2023 restated[1]: loss of 2.09p)\n\n\n\n\n· \n\n\nAvailable cash balances at 31 December 2024 of £1.4m (2023: £2.0m) reflecting the freehold purchases in Brighton and Cordoba made during the Year and ongoing capital expenditure across the portfolio\n\n\n\n\n· \n\n\nNet asset value per share of 47p (2023: 50p)\n \n\n\n\n\n1 2023's figures have been restated as set out in Note 12 to these financial statements \n \nStrategic and operational highlights:\n \n\n\n\n\n· \n\n\n10% increase in total bed nights to 931,688 (2023: 848,633) and occupancy increased by 3.8% to 75.2% (2023: 71.4%) supported by effective marketing investment\n\n\n\n\n· \n\n\nRecovery in group bookings, which represented 16% of accommodation sales (2023: 13%)\n\n\n\n\n· \n\n\nSuccessful focus on maximising higher-margin direct bookings which represented 38% of accommodation sales (2023: 30%)\n\n\n\n\n· \n\n\n26% increase in non-accommodation spend helped to offset 10% decrease in average bed rate reflecting industry-wide challenging pricing environment. As a result, Revenue P...