Trading Statement

Snoozebox Holdings plc

Snoozebox Trading Update

· November launch of the new portable hotel model

· Successful 2014 events season

· Positive trading outlook

· Strong cash position

Snoozebox Holdings plc (AIM: ZZZ), today provides a trading update and announces the imminent launch of its new generation of portable hotel rooms.

Trading Update

The Company is pleased to announce a positive and improved trading performance so far in the second half of the year and consequently expects results for the full year to be comfortably in line with forecast.

This improvement has been achieved through a combination of higher pricing and further cost efficiencies in the events business. Year-on-year, all loss making events in 2013 have been turned around and have delivered a positive contribution to overheads in this trading period.

The key highlights, compared with the prior year on a like-for-like basis*, include:

· 50% increase in room nights sold to over 13,000 from 8,400

· Increase in occupancy rates to over 90% from 78%

· 25% increase in the average revenue per room to approximately £150, with 2014 prices per room per night ranging from £72 to £333

Deployments this year:

In H1 with over 2,000 room nights sold:

· Isle of Man TT

· Goodwood Festival of Speed

· Glastonbury

· Download

During H2, with 11,000 room nights sold:

· British Grand Prix

· Silverstone Classic

· Formula Student

· Glasgow hotel for the Commonwealth Games

· Edinburgh Festivals

· World Equestrian Games

· Moto GP

· Ryder Cup, Gleneagles

The fivefold increase in room nights sold during the second half of the year reflects the seasonal weighting of the UK events circuit, as well as the growth the Company has achieved. The average number of operating days, per event, during the season was 10 days.

Advance room sales for 2015 have been strong when compared to the same period last year and a number of events have already sold out.

Further progress has been made on longer term deployments of the existing hotel room stock. In addition to 160 bedrooms at Silverstone, a 56 bedroom Snoozebox was opened at the Eden Project in October. The pipeline of long term deployments exceeds available remaining room stock and locations include Aberdeen and Edinburgh.

Launch of New Portable Hotel Model

In April the Company announced that it was developing a new event hotel model designed to be more flexible and efficient whilst retaining an excellent customer experience. Snoozebox has partnered with leaders in engineered mobile solutions, including the award winning design firm Tangerine and logistic and deployment experts Procar International to create a new, highly engineered, next generation hotel room. Their designs have been engineered and successfully manufactured by A. Smith Great Bentley coachbuilders and John Dennis Coachbuilders.

In addition to providing a trading update, Snoozebox today also announces that it will launch its new portable hotel model in November. The new hotel rooms will be featured at a number of events during the month including 'Mello2014', one of the UK's premier investor events, and 'Sleep2014', Europe's leading exhibition and conference for the hotel design, development and architectural community.

The new hotel rooms will benefit from improved mobility, making them easier and faster to transport and deploy from one event to the next, and at a much lower cost than the Company's existing stock. The new rooms will be capable of deploying at an event per week, thus increasing service capacity significantly. Additionally, the rooms have internal configuration flexibility, allowing for fast, tailored adaptation to a wide variety of accommodation uses. Together, these new features substantially improve the potential revenue per room whilst retaining and enhancing the excellent Snoozebox guest experience.

As at 31 October, the Company has cash balances of £20 million, following the drawdown of £10 million from the lease facility agreed in September. The additional funding will be invested primarily in building new hotel rooms.

Commenting on recent trading, Lorcán Ó Murchú, Chief Executive, added, "I am delighted with the progress the Company has made during 2014. We have achieved the key milestones set out at the start of the year. We have reduced overheads, turned around the events programme, secured up to £26m of additional funding and are investing in a new generation of hotel room stock. I believe that the substantial progress made in the underlying operating model provides a platform on which to build a successful and growing business, backed by strong and growing customer demand for our unique brand"

6 November 2014

*Note, in order to compare KPI's on a like for like basis, the deployment at the G8 Summit has been excluded from the 2013 comparatives as Snoozeboxes were not used in this deployment.