Plaza Centres Plc

Interim / Quarterly Report • Jul 31, 2024

Company Announcement

Plaza Centres plc (the "Company")

Announces approval of the Interim Financial Statements

and dividend recommendation

Date of announcement	31 July 2024
Reference	PZC 249/2024
In terms of Chapter 5 of the Capital Markets Rules

The following is a Company Announcement issued by Plaza Centres plc ('The Company') pursuant to the Malta Financial Services Authority Capital Markets Rules:

QUOTE

Following a meeting of the board of directors held earlier today, Plaza Centres plc approved its interim financial statements for the six months ended 30 June 2024.

A copy of the said interim financial statements can be viewed either on the Company's web portal: https://plazashopping.com/investors/, or as per the attached copy.

The Directors have also resolved to declare an interim net dividend to shareholders of €250,000 equivalent to €0.0098 per share. The cut-off date for eligibility to dividends shall be the 14 August 2024 and that accordingly only shareholders on the register of members on that date shall be eligible to receive the dividend which will be paid on the 28 August 2024.

UNQUOTE

Signed:

Louis de Gabriele Company Secretary

The Plaza Commercial Centre, Management Office, Level 3, Bisazza Street, Sliema, SLM 1640, Malta

Plaza Centres p.l.c.

Level 3 - The Plaza Commercial Centre Bisazza Street, Sliema SLM 1640, Tel: 21343832/3/4 E-mail: info@plazamalta.com; www.plaza-shopping.com

Half-Yearly Report for the period ended 30 June 2024

The following Half-Yearly Report is being published pursuant to the terms of Chapter 5 of the Malta Financial Services Authority Capital Markets Rules. The condensed interim financial information has been extracted from the group's unaudited financial statements for the six months ended 30 June 2024. The interim financial information should be read in conjunction with the annual financial statements for the year ended 31 December 2023, which have been prepared in accordance with IFRSs as adopted by the European Union. The accounting policies used in the preparation of the Half-Yearly Report are consistent with those used in the annual financial statements for the year ended 31 December 2023. This Half-Yearly Report has not been audited nor reviewed by the company's independent auditors.

Interim Directors' report

The Directors hereby present the company's financial results for the six months ending 30 June 2024.

Principal activities

The Group's principal activity, is to lease, manage and market the Plaza Shopping and Commercial Centre (owned by the Parent Company). Over the past couple of years, the Parent Company initiated the implementation of a refurbishment programme to enhance the experience for all its tenants and visitors. Many of these changes are visible and being enjoyed by all our tenants, customers and visitors on a daily basis.

Sustainability continues to be at the core of all refurbishment works. Following the successful refurbishment of the Tower Road escalator, where all electrical components have been totally replaced with a more energy efficient installation, the company embarked on a six-month project to upgrade the other six escalators within the Centre, which project was completed last June. Parts of the works for the second half of the year will focus on maintenance on the party walls to ensure a sound insulation, replacement of aluminium apertures from single glazing to double glazing for better thermal properties, continue replacing older AC's with ones that are more energy efficient and upgrades to the fire detection systems in place for emergency preparedness.

There is also commitment from our tenants in upgrading their shops and offices which upgrades continue to enhance the customer experience. Some upgrades have been completed and others are underway. This is in line with the Group's aim to have The Plaza Commercial Centre as one of the main attractions for offices and retail business in Sliema.

The Group also owns a 51% of Esports Avenue Limited, a company owning and managing Esports Plaza, an Esports lounge located within The Plaza Shopping Centre. This company has been in operation for nearly two years and though presently not contributing directly to the bottom line, it is complementing the Level 0 which also enjoys a diversified foodhall as well as the international well acclaimed gym F45 specialising in Functional Training.

Group Financial results

During the first six months of the year, the Group generated revenue of €1,573,305 (2023: €1,506,960) an increase of 4.4%, whilst EBITDA increased by 2.96% to €1,103,762 (2023: €1,072,026). Profit before tax increased by 3.61% to €815,065 (2023: €786,656).

The Group's occupancy at 30 June 2024 was 96% (30 June 2023: 90%).

The Directors do not anticipate a significant change in the Group's performance over the next six months. The Board remains cautious due to the prevailing economic challenges mainly reflecting certain geopolitical instability as well as the current surge in inflation.

As at 30 June 2024, the Board of Directors recommend the payment of an interim net dividend of €250,000 equivalent to €0.0098 per share (30 June 2023: €250,000 equivalent to €0.0098 per share). The cutoff date for eligibility to dividends shall be the 14 August 2024 and that accordingly only shareholders on the register of members on that date shall be eligible to receive the dividend which will be paid on the 28 August 2024.

Condensed Statements of Financial Position

A t 3 0 Ju 2 0 1 0 ne	As 30 at Ju 20 24 ne	As at 31 De mb 20 23 ce er	As 30 at Ju 20 24 ne	As at 31 De mb 20 23 ce er
	Gr ou p € €		Co €	mp an y €
AS SE TS
No t a ets ert lan t a nd uip nt n c urr en ss - p rop y, p eq me Ot he nt ts r n on -cu rre as se Cu nt ts rre as se	32 56 0, 37 0 , 2, 98 9, 69 2 1, 53 2, 45 6	32 42 20 9 4, , 2, 96 8, 1 55 1, 3, 03 57 7	32 42 9, 96 8 , 3, 20 8, 76 7 1, 47 4, 96 7	32 28 6, 61 9 , 3, 23 9, 00 0 1, 46 1, 51 5
To tal ts as se	37 08 2, 51 8 ,	36 96 5, 79 7 ,	37 11 3, 70 2 ,	36 98 7, 13 4 ,
EQ UIT Y A ND LI AB ILI TIE S Ca ita l a nd p re se rve s	27 46 13 4 7, ,	27 21 3, 49 8 ,	27 51 3, 46 6 ,	27 24 1, 49 3 ,
No t li ab iliti n-c urr en es	8, 43 6, 33 7	8, 44 0, 69 2	8, 43 6, 33 7	8, 44 0, 69 2
Cu nt lia bil itie rre s	1, 17 9, 04 7	1, 31 1, 60 7	1, 16 3, 89 9	1, 30 4, 94 9
To tal lia bil itie s	9, 61 5, 38 4	9, 75 2, 29 9	9, 60 0, 23 6	9, 74 5, 64 1
To tal uit nd lia bil itie eq y a s	37 08 2, 51 8 ,	36 96 5, 79 7 ,	37 11 3, 70 2 ,	36 98 7, 13 4 ,

Condensed Income Statements

	Six ths de d 3 0 J m on en un e
	20 24	20 23	20 24	20 23
	Gr ou p		Co mp	an y
	€	€	€	€
Re ve nu e	1, 57 3, 30 5	1, 50 6, 96 0	1, 53 7, 12 2	1, 46 6, 21 5
Ma rke tin int d a dm inis tra tiv ts g, ma en an ce an e c os	( 3) 46 9, 54	( 4) 43 4, 93	( 3) 43 1, 41	( 5) 39 2, 48
Op tin rof it b efo de cia tio era g p re pre n	1, 10 3, 76 2	1, 07 2, 02 6	1, 10 5, 70 9	1, 07 3, 73 0
De cia tio pre n	( 25 47 0) 5,	( 24 0, 68 8)	( 24 71 8) 5,	( 23 0, 83 2)
Op tin rof it era g p	84 8, 29 1	83 1, 33 8	85 9, 99 1	84 2, 89 8
Inv tm t a nd ot he lat ed in es en r re co me	( 8, 80 0)	( 15 00 6) ,	( 4, 45 2)	( 9, 05 9)
Ne t fi ts na nc e c os	( 24 42 6) ,	( 29 67 6) ,	( 22 13 8) ,	( 29 67 5) ,
Pr of it b efo tax re	81 5, 06 5	78 6, 65 6	83 3, 40 1	80 4, 16 4
Ta x e xp en se	( 23 4, 63 9)	( 22 6, 59 2)	( 23 4, 63 9)	( 22 6, 59 2)
of it f Pr the rio d or pe	58 0, 42 6	56 0, 06 4	59 8, 76 2	57 7, 57 2
Pr of it/ ( los s) rib ble att uta to :
Ow of the t ne rs pa ren	58 8, 64 1	56 8, 64 3	59 8, 76 2	2 57 7, 57
No llin int tro sts n-c on g ere	( 8, 21 5)	( 8, 9) 57	-	-
	58 0, 42 6	56 0, 06 4	59 8, 76 2	57 7, 57 2
(c ts) Ea ing sh rn s p er are en	2c 3	2c 3	2c 3	2c 3

Co de d S f Co he ive In ta te ts n ns e m en o m p re ns co m e
Pr of it f the rio d or pe	58 0, 42 6	56 0, 06 4	59 8, 76 2	57 7, 57 2
Ot he he ive in r c om pre ns co me :
Ite th at be cla ifie d t rof it o r lo ms ma y re ss o p ss
Ga ins fro ch s i n f air of de bit in str ts at FV OC I m an ge va ue um en	23 21 0 ,	49 85 5 ,	23 21 0 ,	49 85 5 ,
To tal reh siv e i e f the rio d co mp en nc om or pe	60 3, 63 6	60 9, 91 9	62 1, 97 2	62 7, 42 7
To tal reh siv e i ttr ibu tab le to co mp en nc om e a :
Ow of the t ne rs pa ren	61 1, 85 1	61 8, 49 8	62 1, 97 2	62 7, 42 7
No tro llin int sts n-c on g ere	( 5) 8, 21	( 9) 8, 57	-	-
	60 3, 63 6	60 9, 91 9	62 1, 97 2	62 7, 42 7

Condensed Statements of Changes in Equity

Gr ou p	Sh are ita l ca p	Sh are mi pre um	Re lua tio va n res erv e	Re tai d ne ing ea rn s	To tal	No tro llin n-c on g int st ere	To tal uit eq y
	€	€	€	€	€	€	€
Ba lan 1 Ja 20 23 at ce nu ary To tal reh siv e i e f the rio d co en nc om or	5, 09 8, 40 0	3, 09 4, 86 8	14 45 9, 92 3 , 49 85 5	3, 96 8, 82 3 56 8, 64 3	26 62 2, 01 4 , 61 8, 49 8	( 3, 89 3) ( 8, 57 9)	26 61 8, 12 1 , 60 9, 91 9
mp pe Div ide nd ela tin 20 22 to s r g			,		( 35 0, 00 0)		( 35 0, 00 0)
Ba lan at 30 Ju 20 23 ce ne	5, 09 8, 40 0	3, 09 4, 86 8	14 50 9, 77 8 ,	4, 53 7, 46 6	26 89 0, 51 2 ,	( 12 47 2) ,	26 87 8, 04 0 ,
Ba lan at 1 Ja 20 24 ce nu ary To tal reh siv e i e f the rio d co mp en nc om or pe	5, 09 8, 40 0	3, 09 4, 86 8	14 53 6, 09 5 , 23 21 0 ,	4, 48 6, 38 2 58 8, 64 1	27 21 5, 74 5 , 61 1, 85 1	( 2, 24 7) ( 8, 21 5)	27 21 3, 49 8 , 60 3, 63 6
Div ide nd ela tin to 20 23 s r g					( 35 0, 00 0)		( 35 0, 00 0)
Ba lan at 30 Ju 20 24 ce ne	5, 09 8, 40 0	3, 09 4, 86 8	14 55 9, 30 5 ,	5, 07 5, 02 3	27 47 7, 59 6 ,	( 2) 10 46 ,	27 46 7, 13 4 ,
Co m p an y	Sh are	Sh are	Re lua tio va n	Re tai d ne	To tal	No tro llin n-c on g	To tal
	ita l ca p	mi pre um	res erv e	ing ea rn s		int st ere	uit eq y
	€	€	€	€	€	€	€
Ba lan at 1 Ja 20 23 ce nu ary	5, 09 8, 40 0	3, 09 4, 86 8	14 45 9, 92 3 ,	3, 99 6, 28 2	26 64 9, 47 3 ,	-	26 64 9, 47 3 ,
To tal reh siv e i e f the eri od co mp en nc om or p	-	-	49 85 5 ,	57 7, 57 2	62 7, 42 7	-	62 7, 42 6
Div ide nd ela tin to 20 22 s r g	-	-	-	( 35 0, 00 0)	( 35 0, 00 0)	-	( 35 0, 00 0)
Ba lan at 30 Ju 20 23 ce ne	5, 09 8, 40 0	3, 09 4, 86 8	14 50 9, 77 8 ,	4, 22 3, 85 4	26 92 6, 90 0 ,	-	26 92 6, 90 0 ,
Ba lan at 1 Ja 20 24 ce nu ary	5, 09 8, 40 0	3, 09 4, 86 8	14 53 6, 09 5 ,	4, 51 2, 13 0	27 24 1, 49 3 ,	-	27 24 1, 49 3 ,
e f To tal reh siv e i the eri od co mp en nc om or p	-	-	23 21 0 ,	59 8, 76 2	62 1, 97 2	-	62 1, 97 2
20 23 Div ide nd ela tin to s r g	-	-	-	( 35 0, 00 0)	( 35 0, 00 0)	-	( 35 0, 00 0)
Ba lan 30 Ju 20 24 at ce ne	5, 09 8, 40 0	3, 09 4, 86 8	14 55 9, 30 5 ,	4, 76 0, 89 2	27 51 3, 46 6 ,	-	27 51 3, 46 6 ,

Condensed Statements of Cash Flows

	Six months ended 30 June
	2024	2023	2024	2023
	Group	Company
	ਵ	€	€	ਵ
Net cash generated from operating activities	604,881	672,683	615,620	681,290
Net cash used in investing activities	(277,464)	(641,320)	(224,203)	(635,173)
Net cash used in financing activities	(341,282)	(347.677)	(341,282)	(347,677
Net movement in cash and cash equivalents	(13,865)	(316,314)	50.135	(301,560)
Cash and cash equivalents at beginning of period	575,321	1,551,849	496,590	,483,079
Cash and cash equivalents at end of period	561,456	1,235,535	546,725	1,181,519

Notes to the Condensed Financial Statements

As at 30 June 2024, none une reseivable from the subsidiary which are stated in the company's concensed financial statements at a nanount of €168.076). (31.59). The related interest income from the subsidiary income statement for the 6 morths ended 30 June 2024 anounted to €4,346 (30 June 2023, €5,377).

As at 30 June 2024, the company's current assets include from the subsidiary amounting to €14,926 (31 December 2023: €10,578)

Statement Pursuant to Capital Markets Rule 5.75.3 issued by the Malta Financial Services Authority

We confirm that to the best of our knowledge:

1.The contensed interin francial intrimation gives a tue and on the francial position of the mancial performance and cash flove for the encil cash for the period her ended in accordance with International Reporting Standards as adopted by the European Union applicable to "Interin Financial Reporting (AS 34);

1. The Interim Directors' Report includes a fair review of the information required in terms of Capital Markets Rules 5.81 to 5.84.

Charles J.Farrugia Chairperson of the Board of Directors 31 July 2024

Josianne Briffa Chairperson of the Audit Committee