GLOBE TRADE CENTRE S.A.

CONSOLIDATED

FINANCIAL STATEMENTS FOR THE YEAR

ENDED 31 DECEMBER 2022

Signature Not Verified

Dokument podpisany

Signature Not Verified

przez Ariel Ferstman

Dokument podpisany

Signature Not Verified

Data: 2023.04.24

17:04:28 CEST

przez János Gárdai

Data: 2023.04.24

Dokument podpisany

17:06:31 CEST

przez Zoltán Fekete

Data: 2023.04.24

17:53:09 CEST

Globe Trade Centre S.A.

Consolidated Statement of Financial Position

as of 31 December 2022

(in thousands of Euro)

Note

31 December

31 December

2022

2021

ASSETS

Non-current assets

Investment property

17

2,243,663

2,240,660

Residential landbank

19

26,610

27,002

Property, plant and equipment

16

11,141

7,834

Blocked deposits

22

11,948

11,078

Deferred tax asset

15

3,161

3,786

Derivatives

20

17,054

826

Non-current financial assets (related to

investment property) measured at fair value

18

130,341

-

through profit or loss

Other non-current assets

190

163

Loan granted to non-controlling interest

28

10,936

10,628

partner

2,455,044

2,301,977

Current assets

Accounts receivables

7,913

6,161

Accrued income

4,391

3,448

Receivables from shareholders

31

-

123,425

VAT and other tax receivables

27

5,305

2,957

Income tax receivables

1,958

456

Prepayments, deferred expenses and other

34

7,739

11,515

receivables

Derivatives

20

7,793

-

Short-term blocked deposits

22

13,025

14,341

Cash and cash equivalents

23

115,079

87,468

Assets held for sale

33

51,635

292,001

214,838

541,772

TOTAL ASSETS

2,669,882

2,843,749

2

Globe Trade Centre S.A.

Consolidated Statement of Financial Position

as of 31 December 2022

(in thousands of Euro)

Note

31 December

31 December

2022

2021

EQUITY AND LIABILITIES

Equity attributable to equity holders of the

Company

Share capital

31

12,920

11,007

Share premium

31

668,904

550,522

Unregistered share capital increase

31

-

120,295

Capital reserve

31

(49,311)

(49,489)

Hedge reserve

20

(7,515)

(30,903)

Foreign currency translation reserve

(2,621)

(2,570)

Accumulated profit

31

490,532

501,704

1,112,909

1,100,566

Non-controlling interest

28

22,678

16,423

Total Equity

1,135,587

1,116,989

Non-current liabilities

Long-term portion of long-term

29

1,189,284

1,255,114

borrowings

Lease liabilities

30

41,483

38,767

Deposits from tenants

25

11,948

11,078

Long term payables

26

2,394

2,426

Share based payment liabilities

32

758

1,410

Derivatives

20

46,798

38,743

Deferred tax liabilities

15

141,176

140,145

Current liabilities

1,433,841

1,487,683

Current portion of long-term borrowings

29

48,571

44,337

Current portion of lease liabilities

30

388

198

Trade payables and provisions

21

41,208

31,092

Deposits from tenants

25

1,639

1,932

VAT and other taxes payables

1,828

2,222

Income tax payables

3,571

1,000

Derivatives

20

2,180

2,681

Advances received

1,069

784

Liabilities related to assets held for sale

33

-

154,831

100,454

239,077

TOTAL EQUITY AND LIABILITIES

2,669,882

2,843,749

3

Globe Trade Centre S.A.

Consolidated Income Statement

for the year ended 31 December 2022

(in thousands of Euro)

Year ended

Year ended

31 December

31 December

Note

2022

2021

Rental revenue

10,14

123,556

130,289

Service charge revenue

10,14

43,007

41,662

Service charge costs

10,14

(47,365)

(44,356)

Gross margin from operations

119,198

127,595

Selling expenses

11

(1,768)

(1,652)

Administration expenses

12

(15,040)

(14,145)

Loss from revaluation of investment

property and residential landbank

17

(29,422)

(12,867)

Other income

1,467

1,432

Other expenses

24

(2,979)

(1,062)

Profit from continuing operations before

71,456

99,301

tax finance income / expense and

foreign exchange differences

Foreign exchange gain / (loss), net

(2,238)

196

Finance income

13

1,412

304

Finance costs

13

(33,108)

(43,281)

Profit before tax

37,522

56,520

Taxation

15

(12,761)

(13,784)

Profit for the year

24,761

42,736

Attributable to:

Equity holders of the Parent Company

23,411

41,651

Non-controlling interest

28

1,350

1,085

Basic earnings

35

0.04

0.09

per share (in Euro)

Diluted earnings

35

0.04

0.09

per share (in Euro)

4

Globe Trade Centre S.A.

Consolidated Statement of Comprehensive Income

for the year ended 31 December 2022

(In thousands of Euro)

Year ended

Year ended

31 December

31 December

2022

2021

Profit/(loss) for the period

24,761

42,736

Other comprehensive income for the period,

-

-

not to be reclassified to profit or loss in subsequent

periods, net of tax

Gain/(loss) on hedge transactions

27,533

(20,356)

Income tax

(4,145)

1,383

Net gain/(loss) on hedge transactions

23,388

(18,973)

Foreign currency translation

(51)

(17)

Other comprehensive income for the period,

23,337

(18,990)

to be reclassified to profit or loss in subsequent

periods, net of tax

Total comprehensive income/(loss) for the

48,098

23,746

period, net of tax

Attributable to:

Equity holders of the Company

46,748

22,661

Non-controlling interest

1,350

1,085

5

Attachments

Disclaimer

GTC - Globe Trade Centre SA published this content on 14 August 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 16 August 2023 07:12:11 UTC.