St. Anthony Co. plc, the company behind the Casa Antonia and Imperial retirement homes, is forecasting continued revenue growth and profitability in 2026, supported by sustained high occupancy levels across both facilities.
According to the company's latest Financial Analysis Summary, revenue is expected to increase to €15.62 million in 2026, up from €15.27 million recorded in 2025. The projected growth of 2.3 per cent reflects management's expectation that both homes will continue operating at near-full occupancy, with revenue growth driven primarily by modest room-rate adjustments and the continued maturity of operations.
The group expects earnings before interest, tax, depreciation and amortisation (EBITDA) to reach €4.44 million in 2026, compared to €4.62 million in 2025. While this represents a slight decline of 4.1 per cent, management noted that profitability is expected to remain strong despite ongoing cost pressures.
Profit after tax is forecast at €943,000 for 2026, down marginally from €1.02 million in 2025. The decrease is mainly attributed to rising operating costs, particularly wage inflation and higher employment expenses, as well as increases in food, consumables and utility costs.
Both retirement homes continued to perform strongly during 2025. Casa Antonia maintained near-full occupancy throughout the year, while average occupancy at the Imperial retirement home reached approximately 98 per cent, up from 94 per cent in 2024. Management reported no material changes to operations or the government's AACC elderly care scheme contract.
The group is also planning a modest expansion of the Imperial retirement home. In January 2026, it acquired a property close to the facility for €400,000, which management intends to connect to the existing complex and convert into five additional double rooms, subject to permits being obtained.
From a balance sheet perspective, St. Anthony expects its financial position to strengthen further during 2026. Total borrowings are forecast to continue declining as the company pursues its debt reduction strategy, while cash balances are expected to increase from €2.4 million to €3.3 million. The group's current ratio is projected to improve to 1.17 times, indicating that current assets will comfortably exceed current liabilities.
Looking ahead, management expects operating conditions to remain stable despite inflationary pressures. The company noted that its exposure to interest rate volatility has been reduced through fixed-rate financing arrangements, while no significant impact is anticipated from ongoing geopolitical tensions or regulatory changes in the elderly care sector.
Overall, the group is forecasting total comprehensive income of approximately €1 million in 2026, thanks to stable occupancy levels, positive cash generation and continued demand for elderly care services.
