Barcino Property SOCIMI S A : Free Translation Annual Accounts 2020

Barcino Property SOCIMI S.A.

Financial Statements for the year

ended 31 December 2020

and Directors' Report

Translation of financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Company in Spain (see Note 2). In the event of a

discrepancy, the Spanish-language version prevails

			BARCINO PROPERTY SOCIMI, S.A.
			BALANCE SHEET AT 31 DECEMBER 2020
				(in euros)
ASSETS	Note	31/12/2020	31/12/2019	EQUITY AND LIABILITIES	Note	31/12/2020	31/12/2019
1 A) NON-CURRENT ASSETS		39.565.985,72	38.379.260,91	1 A) EQUITY		19.456.711,91	20.079.443,37
1.1	I. Intangible fixed assets		674,78	719,90	1.1 A-1) Shareholders' equity	Note 7	19.456.711,91	20.079.443,37
	1.1.3 3.Patents, licences, trademarks and similar items		674,78	719,90	1.1.1 I. Share capital		21.560.168,00	21.109.105,00
1.2	II. Property, plant and equipment		647,65	1.358,96	1.1.1.1. Registered capital		21.560.168,00	21.109.105,00
	1.2.2 2. Property, plant and equipment		647,65	1.358,96	1.1.2 II. Share premium		5.013.858,88	4.616.923,44
1.3	III. Investment property	Note 5	39.449.108,73	38.262.669,54	1.1.3 III. Reserves		7.269,95	6.453,31
	1.3.1 1. Land		25.372.262,80	25.372.262,80	1.1.3.2 2. Other reserves		7.269,95	6.453,31
	1.3.2 2. Buildings		11.954.631,62	12.467.604,98	1.1.4 IV. Treasury shares		(67.473,66)	(66.661,66)
	1.3.3 3. Property, plant and equipment in the course of construction and advanc		2.122.214,31	422.801,76	1.1. 5 V. Loss from previous years		(5.586.376,74)	(4.586.540,60)
1.5	V. Non-current financial assets	Note 6	115.554,56	114.512,51	1.1.5.2 2. Prior years' losses		(5.586.376,74)	(4.586.540,60)
	1.5.5 5. Other financial assets		115.554,56	114.512,51	1.1.6 VI. Other capital contributions		1,58	0,02
					1.1.7 VII. Loss for the year		(1.470.736,10)	(999.836,14)
2 B) CURRENT ASSETS		3.959.345,04	2.463.585,50	2 B) NON-CURRENT LIABILITIES		15.476.183,02	17.638.634,27
2.2	II. Inventories		52.251,78	0,00	2.2 II. Non-current payables		15.476.183,02	17.638.634,27
	2.2.6 6. Advances to suppliers		52.251,78	0,00	2.2.2 2. Bank borrowings	Note 8.1	14.523.133,54	14.760.813,44
2.3	III. Trade and other receivables		324.872,44	342.787,90	2.2.5 5. Other financial liabilities	Note 8.2	953.049,48	2.877.820,83
	2.3.1 1. Trade receivables for sales and services		53.699,08	19.573,94	3 C) CURRENT LIABILITIES		8.592.435,83	3.124.768,77
	2.3.3 3. Sundry receivables		0,00	43.705,37	3.2 II. Short-term provisions		0,00	0,00
	2.3.5 5. Current tax assets	Note 9.1	78.218,66	140.277,09	3.3 III. Current payables		8.207.898,78	2.696.880,11
	2.3.6 6. Other accounts receivable from public authorities	Note 9.1	192.954,70	139.231,50	3.3.2 2. Bank borrowings	Note 8.1	1.268.968,18	1.141.264,96
2.5	V. Non-current financial assets	Note 4.7	288.480,14	390.178,63	3.3.5 5. Other financial liabilities	Note 8.2	6.938.930,60	1.555.615,15
	2.5.5 5. Other financial assets		288.480,14	390.178,63	3.5 V. Trade and other payables		384.537,05	427.888,66
2.6	VI. Current prepayments and accrued income		87.568,19	22.957,15	3.5.3 3. Sundry accounts payable		343.121,38	349.481,42
2.7	VII. Cash and cash equivalents		3.206.172,49	1.707.661,82	3.5.6 6. Other accounts payable to public authorities	Note 9.1	32.534,27	76.344,10
	2.7.1 1. Cash		3.206.172,49	1.707.661,82	3.5.7 7. Customer advances		8.881,40	2.063,14
	TOTAL ASSETS		43.525.330,76	40.842.846,41	TOTAL EQUITY AND LIABILITIES		43.525.330,76	40.842.846,41
			The accompanying Notes 1 to 14 are an integral part of the balance sheet at 31 December 2020.

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Translation of financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Company in Spain (see Note 2). In the event of a discrepancy, the Spanish-language version prevails

BARCINO PROPERTY SOCIMI, S.A.
STATEMENT OF PROFIT OR LOSS FOR THE YEAR 2020
(in euros)
STATEMENT OF PROFIT OR LOSS	Note	2020	2019
1. Revenue		1.301.410,63	1.672.730,17
Real estate leases	Note 10.1	1.301.410,63	1.672.730,17
5. Other operating income		16.580,30	3.595,44
Other operating income		16.580,30	3.595,44
6. Staff costs		(100.342,82)	(123.991,24)
a) Wages, salaries and similar expenses		(80.800,21)	(98.227,06)
b) Employee benefit costs	Note 10.2	(19.542,61)	(25.764,18)
7. Other operating expenses		(1.656.303,12)	(1.854.702,09)
a) Outside services	Note 10.3	(1.550.710,74)	(1.730.887,70)
b) Taxes	Note 10.3	(39.357,69)	(80.546,85)
c) Losses, impairment and changes in trade provisions		(15.265,01)	(18.008,79)
d) Other current operating expenses		(50.969,68)	(25.258,75)
8. Depreciation and amortisation charge	Note 5	(653.917,78)	(566.590,49)
10. Excess provisions	Note 1	197.894,00	238.293,95
12. Other income and expenses		10.007,52	0,00
LOSS FROM OPERATIONS		(884.671,27)	(630.664,26)
13. Finance income		1.445,24	424,25
From marketable securities and other financial instruments		1.445,24	424,25
From third parties		1.445,24	424,25
14. Finance costs		(587.510,07)	(369.596,13)
On debts with third parties		(587.510,07)	(369.596,13)
FINANCIAL LOSS		(586.064,83)	(369.171,88)
LOSS BEFORE TAX		(1.470.736,10)	(999.836,14)
Income tax	Note 8	0,00	0,00
LOSS FROM CONTINUING OPERATIONS		(1.470.736,10)	(999.836,14)
LOSS FOR THE YEAR		(1.470.736,10)	(999.836,14)
The accompanying Notes 1 to 14 are an integral part of the statement of profit or loss for the year ended 31 December 2020.

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Translation of financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Company in Spain (see Note 2). In the event of a discrepancy, the Spanish-language version prevails

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Translation of financial statements originally issued in Spanish and prepared in accordance with the regulatory financial reporting framework applicable to the Company in Spain (see Note 2). In the event of a discrepancy, the Spanish-language version prevails

BARCINO PROPERTY SOCIMI, S.A.

STATEMENT OF CHANGES IN EQUITY

1. STATEMENT OF CHANGES IN TOTAL EQUITY FOR THE YEAR 2020
   (in euros)

	Registered	Share	Other	(Treasury	Loss from	Other capital	Profit/(loss) for	TOTAL
	capital	premium	reserves	shares)	previous years	contributions	the year
A. BALANCE AT 31 DECEMBER 2018	21.109.105,00	4.616.923,44	6.453,31	(66.661,66)	(2.953.967,58)	0,02	(1.632.573,02)	21.079.279,51
Total recognised income and expense	-	-	-	-	-	-	(999.836,14)	(999.836,14)
Distribution of 2018 profit	-	-	-	-	(1.632.573,02)	-	1.632.573,02	0,00
C. BALANCE AT 31 DECEMBER 2019	21.109.105,00	4.616.923,44	6.453,31	-66.661,66	-4.586.540,60	0,02	-999.836,14	20.079.443,37
Total recognised income and expense	-	-	-	-	-	-	(1.470.736,10)	(1.470.736,10)
Distribution of 2019 profit	-	-	-	-	(999.836,14)	-	999.836,14	0,00
Share capital increase	451.063,00	396.935,44	-	-	-	1,56	-	848.000,00
Treasury share transactions	-	-	816,64	(812,00)	-	-	-	4,64
D. BALANCE AT 31 DECEMBER 2020	21.560.168,00	5.013.858,88	7.269,95	(67.473,66)	(5.586.376,74)	1,58	(1.470.736,10)	19.456.711,91
	The accompanying notes 1 to 14 are an integral part of the statement of changes in total equity for the year 2020.

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