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VBL Plc Earnings Release 2022
2060_rns_2023-03-13_a14bf36e-40c6-4dd3-bece-1b121578f927.pdf
Earnings Release
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VBL Plc (C56012)
("VBL" or the "Company")
COMPANY ANNOUNCEMENT
Operational Metrics and Data
2022
This is a company announcement made by the Company in compliance with the Capital Markets Rules issued by the Malta Financial Services Authority.
Date: 13th March 2023
Ref. VBL01/2023
The Company achieved positive results during 2022, showing a year of good operational and strategic progress, driving strong financial and operational growth.
| VBL Group's consolidated level and non-audited performance metrics |
% Change in performance metrics of 2022 non-audited compared to 2021 audited accounts |
|---|---|
| Rental Revenues | +115% |
| Total Revenues | +25% |
| Gross Profit | +18% |
| Profit for the year after tax | +14% |
| Total Assets | +19% |
| hospitality % VBL Group operational metrics |
Change in hospitality metrics of 2022 non-audited compared to 2021 audited accounts |
|---|---|
| Unit nights sold | +69% |
| Unit nights available | +92% |
| Occupancy ratio increase | +7% |
| Increase in revenue per unit sold |
+16% |
The above performance and operational metrics are measured and presented in comparison to the similar metrics presented in the audited accounts of the previous full year.
54, Marsamxett Road, Valletta, VLT 1853, Malta Following the release of the remaining pandemic measures and restrictions in Q2 2022 only, a strong financial performance was realised during 2022 with rental revenue growth of 115% for the full-year 2022 and results and key performance indicators (KPIs) approaching the pre-pandemic levels in the hospitality operations with occupancy rate increase of 7% and revenues per unit sold increasing by 16%.
In addition to the recovery of the hospitality business, VBL has continued its expansion on the Valletta property market and concluded the acquisition of the Coliseum Shopping Arcade in Q4 2022, which at year-end has been recognised as a fully owned asset and thus has made a significant contribution to the annual investment income of the Company.
The full year 2022 performance metrics are disclosed by the Company for general information purposes and are to be considered and evaluated based on the final, consolidated accounts of the VBL Group, which will be announced in due course.
Dr Mikiel Calleja Company Secretary