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Earnings Release • Feb 21, 2025
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Earnings Release
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National Storage Mechanism | Additional information 
RNS Number : 1001Y
FIVE Holdings (BVI) Limited
21 February 2025
FIVE Holdings Reports Robust FY 2024 Financial Results with 28% overall Revenue Growth and 71% Surge in Hospitality Segment
OVERALL COMPANY PERFORMANCE
Yearly Performance Highlights
FIVE Holdings (BVI) Limited ("the Company") announced strong financial results for the year ended December 31, 2024, reflecting the Company's successful strategy in expanding its operations and strengthening market positioning .
| FY 2024 | FY 2023 | Growth % | |
| Total Revenue | AED 2,165 million | AED 1,694 million | 28% |
| Total EBITDA | AED 766 million | AED 653 million | 17% |
| Hospitality Revenue | AED 1,641 million | AED 962 million | 71% |
| Hospitality EBITDA | AED 605 million | AED 361 million | 68% |
Quarterly Performance Highlights
In Q4 2024, growth in revenue and EBITDA was driven by strong operational performance in the hospitality business.
| Q4 2024 | Q4 2023 | Growth % | |
| Total Revenue | AED 634 million | AED 539 million | 18% |
| Total EBITDA | AED 240 million | AED 196 million | 22% |
| Hospitality Revenue | AED 424 million | AED 300 million | 41% |
| Hospitality EBITDA | AED 168 million | AED 99 million | 70% |
Liquidity and Financial Position
As of December 31, 2024, the Company maintained a robust liquidity position:
• Cash and bank balances of AED 529 million (including AED 97 million in escrow)
• An undrawn Revolving Credit Facility of AED 734.5 million
• Buybacks of AED 84 million (par value) in bonds since issuance
Total borrowings stood at AED 1,482 million, with total assets of AED 10,743 million and total equity of AED 6,608 million.
HOSPITALITY SEGMENT
Growth in Hospitality operations was driven by high occupancy rates, average daily rates (ADR) and enhanced guest spending across F&B and entertainment offerings.
| 2024 | 2023 | Growth % | |
| Total Revenue | AED 1,641 million | AED 962 million | 71% |
| Total EBITDA | AED 605 million | AED 361 million | 68% |
| Q4 Hospitality Revenue | AED 424 million | AED 300 million | 41% |
| Q4 Hospitality EBITDA | AED 168 million | AED 99 million | 70% |
Performance of The Pacha Group:
FY 2024 marked the first full operational year of The Pacha Group post-acquisition, delivering:
• Revenue of EUR 112 million (up 7% from EUR 105 million, FY 2023 proforma*)
• EBITDA of EUR 37.4 million (up 8% from EUR 34.8 million, FY 2023 proforma*)
*Pro forma reflects the acquisition of Universo Pacha S.A. as if completed at the beginning of 2023.
**EBITDA figures exclude management incentive allocations .
REAL ESTATE SEGMENT:
Revenue from the real estate segment totalled AED 525 million (FY 2023: AED 732 million), reflecting the planned transition from development activities following the completion of FIVE LUXE. The strategic emphasis remains on growing hospitality-driven recurring income.
Investor Call Details
FIVE Holdings will host an investor conference call on Monday, February 24, 2025, at 5 p.m. UAE time. Founder and Executive Chairman, Kabir Mulchandani, will discuss the consolidated performance.
Register Here: FIVE Holdings Results Update call FY 2024
Access consolidated financial statements : FIVE Holdings (BVI) Limited - Financial Statements
Contact Information
Investor Inquiries: [email protected]
Media Inquiries: Farah Palia, Director of Public Relations - [email protected]
ABOUT FIVE HOLDINGS
FIVE Holdings is a vertically integrated luxury hospitality and entertainment group with assets spanning the UAE, Spain and Switzerland. Its portfolio includes:
• Hotels: FIVE Palm Jumeirah, FIVE Jumeirah Village, FIVE LUXE (UAE), Destino Five Ibiza, and El Hotel Pacha (Spain) and FIVE Zurich (Switzerland)
• Entertainment: Pacha Ibiza Nightclub, Toy Room, WooMoon Storytellers
• Fashion Lines: FIVE Mode, The Pacha Collection
FIVE is the world's highest-rated ESG company (ISS 'A' grade across all sectors), reflecting its commitment to a "Global Sustainable Entertainment Ecosystem." The brand focuses on immersive experiences for a luxury-loving, eco-conscious audience of Millennials and Gen-Z customers.
www.five-holdings.com
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