Apollo Group OÜ bond issue

About Apollo Group

Founded in 2000 as a bookstore, Apollo Group OÜ (the Group) has grown into the leading “eatertainment” company in the Baltics, combining entertainment and dining experiences under one integrated destination concept, and expanding into Finland in 2021.

The Group operates 170 units across four countries and employs more than 4,300 people. Its portfolio includes the leading Baltic cinema chain, Apollo Cinema, proprietary restaurant brands, and franchise concepts such as KFC and Vapiano. Food concepts account for c. 70% of revenue, complemented by cinema and related sales.

The Group’s strategy is based on co-located entertainment and dining formats, supporting footfall, cross-selling and strong positioning as an anchor tenant in shopping centers. Growth is driven by a scalable, asset-light model and a plan to open 130+ new units over five years, primarily in Finland. The Apollo Club loyalty program, with over 1 million members, underpins recurring demand.

In FY2024/25, revenue reached €227.4m (+6% y/y) and EBITDA €39.9m (+12% y/y), with margin improving to 17.6%. In 9M FY2025/26, revenue grew 13% to €196.5m and EBITDA totaled €32.4m. As of 9M FY2025/26, the Group reported ICR of 43.9x, Adjusted Equity Ratio of 63% and Leverage of 0.1x, comfortably within covenant thresholds (tested pre-IFRS).

The Group is launching a €50m senior unsecured bond to support expansion and refinance €25m of shareholder loans, which will be subordinated post-issuance. Following the transaction, the bonds will represent the Group’s only senior interest-bearing debt.

Additional information: https://signetbank.com/wp-content/uploads/2026/03/Apollo-Group-investor-teaser-EN.pdf

Term Sheet

*Full list of covenants can be found in the Base Prospectus