Louis loss widens to €18.7m as Cyprus’ tourism downturn hits half-year results

The net loss of Louis plc widened to €18. 70 million in the first half of 2026, as the hotel and tourism group attributed weaker financial performance to a decline in tourist traffic to Cyprus amid geopolitical developments and uncertainty in the wider Middle East. The company’s net loss after tax attributable to shareholders increased by €7. 60 million , or around 68 per cent, from €11. 10 million in the first half of 2025 to €18. 70 million in the six months to June 30, 2026. Louis plc said its turnover also fell, while operating profitability declined substantially during the period. Turnover stood at €44. 80 million , down €4. 50 million, or 9. 20 per cent, from €49. 30 million in the corresponding period of 2025.

The group attributed the decline mainly to reduced tourist traffic to Cyprus, which it said had been affected by geopolitical developments and increased uncertainty in the wider Middle East. Earnings before interest, tax, depreciation and amortisation (EBITDA), a measure of operating performance before financing, tax and certain accounting costs, fell to €1. 40 million from €5. 10 million a year earlier. This represented a decline of €3. 70 million , or 72 per cent. Moreover, the group’s operating profit margin also fell from 10. 30 per cent to 3. 20 per cent. Louis plc said changes in operating expenses and staff costs were mainly attributable to the decline in group turnover. The company said the war in the Middle East had negatively affected tourist flows to Cyprus , with the impact reflected in its first-half results. “Taking into account the current circumstances, we expect the final results of 2026 to be lower than those of the previous year ,” the company said. Louis plc’s main activities during the first half of the year continued to include the ownership,…