Plaza Centres Plc

Earnings Release • Aug 2, 2023

Company Announcement

Plaza Centres plc (the "Company")

Announces approval of the Interim Financial Statements and dividend recommendation

Date of announcement 02 August 2023

Reference PZC 240/2023

In Terms of Chapter 5 of 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 2023.

A copy of the said interim financial statements can be viewed either on the Company's web portal: https://plaza-shopping.com/investors-info, 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 16 August 2023 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 30 August 2023.

UNQUOTE

Signed:

Louis de Gabriele Company Secretary

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 2023

The blowing Half-Yearly Report is being published purses of the Matter Firancial Services Authority Capital Markets Rules. The concensed information has been extracted for the group's unaitis ended 30 June 2022. The interim financial information should be read in conjunction with the anual francial statements for the year ended 31 December in accordance with FRS as adopted by the Europeal Union. The accounting policies used in the preparation of the Half-Yearly Report are consistent with those used in the year ended 31 December 2022. 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 2023.

Principal activities

The Group's principal activity, is to lease, manage and Commercial Centre (wred by the Parent Company). Over the past company intitled the implementation of a refurbishment programme in order to enhance the experience for all its tenants and visitors.

Sustainability is at the core of the works . Parts of the second half of the year will for the year will four of alternative energy, the instalation of equipment which is nre environmentally fiendly and the reduction in energy require inside the centre in order to reach hase gats the company is looking a replacing the ariorn of install futher solar panels at roof level and upgrade the electrical system of the escalators.

Ther is also commitment in upgrading their shops and difices which will contine e perience. This in the with the Group's aim to have The Paza Commercial Centre as one of the main attractions for offices and retail business in Sliema.

The Group also wns a 51% of Esports Avense Linited, a company capons Plaza, an Esports lounge based within The Plaza Shopping Centre. This company has been in operation for nealy one year and though presently not on the botton line, it is complementing the refurished foor which now enjoys a diversified foothal as well as the international well gym F45 specialising in Functional Training

Group Financial results

Duing the first six norths of the year, the Group generated of E. 500,000 (2022 : 1,44,877) an inceased by 0.4% to 6,172,000 (2022) : 1,000 : 6,070,50) Polit ede tax increased by 15.85% to €786,656 (2022: €679,012).

The Groups occupancy at 30 June 2022: 90%, Duing the second quarter of the year 315sqn on level 3 tare been leased out b Lucy World with the shop opening to business in Juy

The Directors of on antipipe in the Grup's performance in the next six norths. The Board emailing economic challenges naily due to the armed conflict in Ukraine as well as the current surge in inflation.

As at 30 June 2023, the Bard of Directors reading of E250,000 quivalent of E20,000 equivalent of E0,000 equivalent of 0.000 per share). The cli-off date for eligibility to dividents shall be the 16 August of the register of merchers on that take stal be elight to reseive the dividers with will be paid on the 30 August 2023.

Condensed Statements of Financial Position -----------------------------------------------------------------

C

1728

	As at 30 June 2023	As at 31 December 2022	As at 30 June 2023	As at 31 December 2022
	Group		Company
ASSETS	ਵ	€	ਵ	€
Non current assets - property, plant and equipment Other non-current assets Current assets	32,371,464 2,519,297 2,101,616	32,310,228 2,149,690 2,343,520	32,220,825 2,817,674 1,992,612	32,151,017 2,446,095 2,228,819
Total assets	36,992,377	36,803,438	37,031,111	36,825,931
EQUITY AND LIABILITIES Capital and reserves	26,878,040	26,618,121	26,926,900	26,649,473
Non-current liabilities	8,887,748	8,888,164	8,887,750	8,888,164
Current liabilities	1,226,589	1,297.153	1,216,461	1,288,294
Total liabilities	10,114,337	10,185,317	10,104,211	10,176,458
Total equity and liabilities	36,992,377	36,803,438	37,031,111	36,825,931

Condensed Income Statements

	Six months ended 30 June
	2023 2022		2023	2022
	Group			Company
	€	€	€	€
Revenue	1,506,960	1,434,877	1,466,215	1,434,877
Marketing, maintenance and administrative costs	(434,934)	(364,324)	(392,485)	(364,324)
Operating profit before depreciation	1,072,026	1,070,553	1,073,730	1,070,553
Depreciation	(240,688)	(244,739)	(230,832)	(244,739)
Operating profit	831,338	825,814	842,898	825,814
Investment and other related (expense)/ income	(15,006)	6,709	(9,059)	6,709
Net finance costs	(29,676)	(153,511)	(29,675)	(153,511)
Profit before tax	786,656	679,011	804,164	679,011
Tax expense	(226,592)	(218,040)	(226,592)	(218,040)
Profit for the period	560,064	460.971	577,572	460,971
Profit/ (loss) attributable to:
Owners of the parent	568,643	460,971	577,572	460,971
Non-controlling interests	(8,579)
	560,064	460,971	577,572	460,971
Earnings per share (cents)	2c3	1c8	2c3	1c8

Condensed Statements of Comprehensive Income

【】

Profit for the period Other comprehensive income: Items that may be reclassified to profit or loss	560.064	460,971	577,572	460.971
Gains/ (losses) from changes in fair vaue of debit instruments at FVOCI	49,855	(102,819)	49,855	(102,819)
Total comprehensive income for the period	609.919	358,152	627,427	358.152
Total comprehensive income attributable to:
Owners of the parent	618.498	358,152	627,427	358,152
Non-controlling interests	(8,579)
	609,919	358,152	627.427	358.152

Condensed Statements of Changes in Equity

Group	Share capital	Treasury shares reserve	Share premium	Revaluation reserve	Retained earnings	Total	Non-controlling interest	Total equity
	€	€	モ	ਵ	€	ਵ	ਵ	ਵ
Balance at 1 January 2022	5,098,400		3,094,868	14,601,360	4,035,376	26,830,004		26,830,004
Total comprehensive income for the period				(81,176)	439,328	358,153		358,153
Dividends relating to 2021					(600,000)	(600,000)		(600,000)
Non controlling interest in subsidiary							49,000	49,000
Balance at 30 June 2022	5,098,400		3,094,868	14,520,184	3,874,704	26,588,157	49,000	26,637,157
Balance at 1 January 2023 Total comprehensive income for the period Dividends relating to 2022	5,098,400		3,094,868	14,459,923 49,855	3,968,823 568,643	26,622,014 618,498 (350,000)	(3,893) (8,579)	26,618,121 609.919 (350,000)
Balance at 30 June 2023	5,098,400		3,094,868	14,509,778	4,537,466	26,890,512	(12,472)	26,878,040

Company	Share capital	Treasury shares reserve	Share premium	Revaluation reserve	Retained earnings	Total	Non-controlling interest	Total equity
	€	ਵ					€	€
Balance at 1 January 2022	5,098.400 -		3.094.868	14,601,360	4,005,036	26,799,664		26,799,664
Total comprehensive income for the period				(81,176)	439,328	358,151		358.151
Dividends relating to 2021					(600,000)	(600,000)		(600,000
Balance at 30 June 2022	5,098,400		3,094,868	14,520,184	3,844,364	26,557,816		26,557,816
Balance at 1 January 2023	5,098,400		3,094,868	14,459,923	3,996,282	26,649,473		26,649,473
Total comprehensive income for the period				49,855	577,572	627,427		627,427
Dividends relating to 2022					(350,000)	(350,000)		(350,000)
Balance at 30 June 2023	5,098,400		3,094,868	14,509,778	4,223,854	26,926,900		26,926,900

Condensed Statements of Cash Flows

	Six months ended 30 June
	2023 2022		2023	2022
	Group	Company
	€	€	€	€
Net cash generated from operating activities	672,683	436,812	681,290	436,812
Net cash (used in)/ generated from investing activities	(641,320)	987,920	(635,173)	987,920
Net cash used in financing activities	(347.677)	(2.272.983)	(347,677)	(2,272,983)
Net movement in cash and cash equivalents	(316,314)	(848.251)	(301,560)	(848,251)
Cash and cash equivalents at beginning of period	1,551,849	2,630,864	1,483,079	2,630,864
Cash and cash equivalents at end of period	1,235,535	1,782,613	1,181,519	1,782,613

Notes to the Condensed Financial Statements

As at 30 June 2022, non-current asses include from the subsidiary which are stated in the corpany's condersed financial statements at an amount of €249,94 (31 December 2022 The related interest income from the subsition the company's contensed income statement for the 6 months ended 30 June 2022: Will

As at 30 June 2023, the company's current assets include interest receivable from the subsidiary amounting to €11,910 (31 December 2022: €6,533)

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 condensed internation gives a tue and fair view of the financial position of the group and company as at 30 June 2023, and of their financial performance and cash flow ended in accordance with International Financial Reporting Standards as adopted by the European Union applicable to "Interim Financial Reporting (AS 34)

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

Charles J.Farrugia Chafrman of the Board of Directors 02 August 2023

Josianne Briffa Chairman of the Audit Committee