Saint Croix Immobilier SOCIMI S A : Financial report

SAINT CROIX HOLDING IMMOBILIER,

SOCIMI, S.A.

Half-Yearly Financial Statements and Management Report for the six-month period

ended 30 June 2023

(Unaudited)

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Table of Contents

Half-Yearly Financial Statements	2
1.	Company Activity	8
2.	Applicable legislation	9
3.	Presentation basis of interim financial statements	12
4.	Distribution of earnings	13
5.	Accounting principles and registration and valuation standards	13
7.	Property investments	21
8.	Operational leasing	24
9.	Other financial assets and investments in related companies	24
10. Trade and other receivables	26
11. Cash and cash equivalents	27
12. Information on the nature and level of risks affecting financial instruments	27
13. Equity and Own Funds	28
14. Current and non-current liabilities	32
15. Hedge instruments	33
16. Disclosure on payment deferrals for suppliers	34
17. Guarantees undertaken with third parties	35
18. Public administrations and tax situation	35
19. Earnings and expenses	39
20. Related-party transactions and balances	40
21. Remuneration for the Board of Directors and Senior Management	41
22. Disclosure on situations of conflicts of interest involving the directors	42
23. Other information	42
24. Environmental information	43
25. Segmented reporting	43
26. International Financial Reporting Standards	45
27. Subsequent events	46
Annex 1. Information requirements deriving from being classed as a REIT	47
Management Report	51
1.	Explanation of the figures at 30 June 2023	52
2.	Valuation of real estate assets	56
3.	Property investments	57
4.	Disclosure on payment deferrals for suppliers	57
5.	Earnings per share at 30 June 2023	58
6.	Acquisition of treasury shares	58
7.	Research and development activities	58
8.	Main risks faced by the Company	58
9.	Outlook for 2023	60
10. Disclosure on conflicts of interest involving the directors	60
11. Subsequent events	61
Directors' Declaration of Responsibility	62
Diligence in the Preparation of Interim Financial Statements	63

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Half-Yearly Financial Statements (Unaudited)

30 June 2023

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SAINT CROIX HOLDING IMMOBILIER, SOCIMI, S.A.

BALANCE SHEET AT 30 JUNE 2023 AND 31 DECEMBER 2022

(Euros)

	Notes to the					Notes to the
	Financial					Financial
ASSETS	Statements	30/06/2023	31/12/2022		EQUITY AND LIABILITIES	Statements	30/06/2023	31/12/2022
NON-CURRENT ASSETS		455,741,487	441,679,128		EQUITY	13	306,089,229	312,056,267
					OWN FUNDS
Intangible fixed assets		-	35
Software applications		-	35		Capital		267,577,040	267,577,040
Property, plant and equipment	6	141,764	149,473		Authorised capital		267,577,040	267,577,040
Plant and other tangible fixed assets		141,764	149,473		Reserves		30,582,423	28,981,526
Property investments	7	452,749,083	438,508,778		Legal and statuary		11,453,626	10,028,141
Net property investments		452,749,083	438,508,778		Other reserves		19,128,797	18,953,385
Long-term financial investments	9	2,850,640	3,020,842		Profit (Loss) for the year	4	6,642,099	14,254,857
Derivatives		387,054	314,056		Valuation adjustments	15	387,054	314,056
Other financial assets		2,463,585	2,706,786		Hedging operations		387,054	314,056
					Subsidies, donations and bequests received		900,613	928,789
					Subsidies, donations and bequests received		900,613	928,789
					NON-CURRENT LIABILITIES		123,837,442	108,699,071
CURRENT ASSETS		28,120,813	23,305,342		Non-current payables	14	123,837,442	108,699,071
Inventories		131,365	-		Bank borrowings		120,090,564	104,798,848
Advance payments to suppliers		131,365	-		Other financial liabilities		3,746,878	3,900,223
Trade and other receivables	10	828,365	4,205,676
Trade receivables from sales and services		777,871	4,174,532		CURRENT LIABILITIES		53,935,628	44,229,131
Staff		352	944		Current payables	14	42,943,569	35,514,866
Current tax assets	18.1	50,142	20,362		Bank borrowings		42,302,080	35,026,384
Other tax receivables	18.1	-	9,837		Other financial liabilities		641,489	488,482
Short-term investments in Group and associate companies	9 and 20.2	10,000,000	-		Short-term Group and associated companies' debts	20.2	539,448	3,461,920
Short-term financial investments	9	15,831,803	17,274,445		Trade and other payables		10,452.6112	5,252,345
Short-term equity instruments		15,212,567	16,478,110		Suppliers		9,203,138	2,776,444
Other financial assets		619,236	796,335		Sundry creditors		852,466	2,072,207
Cash and cash equivalents	11	1,329,281	1,825,221		Other tax payables	18.1	391,007	396,594
Cash and bank		1,329,281	1,825,221		Advance payments from customers		6,000	7,100
TOTAL ASSETS		483,862,300	464,984,470		TOTAL EQUITY AND LIABILITIES		483,862,300	464,984,469

Notes 1-27 to the attached half-yearly financial statements are an integral part of the balance sheet at 30 June 2023.

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SAINT CROIX HOLDING IMMOBILIER, SOCIMI, S.A.

PROFIT AND LOSS ACCOUNT AS AT 30 JUNE 2023

(Euros)

	Notes to the
	Financial Statements	30/06/2023	30/06/2022
CONTINUED OPERATIONS
Revenue	19.1	15,384,848	12,352,804
Lease of property		15,384,848	12,352,804
Other operating income	19.1	17,907	53,803
Non-core and other current management income		17,907	53,803
Personnel expenses	19.2	-298,535	-233,957
Wages, salaries and similar outgoings		-242,451	-189,327
National Insurance contributions		-56,084	-44,630
Other operating expenses	19.3	-2,032,408	-1,458,266
Outside services		-1,882,036	-1,448,637
Taxes and similar levies		-150,371	-13,294
Losses, impairment and changes in provisions on trade transactions	10	-	3,665
Fixed asset depreciation	6 and 7	-3,261,178	-2,917,753
Allocation of non-financial fixed asset subsidies and others	13 and 19.1	28,175	28,175
Impairments and gains (losses) on fixed asset disposals	7	-1,584	156,789
Gains/(losses) on disposals and others		-1,584	156,789
Other gains/(losses)		3,195	-30,811
Exceptional income and expenses		3,195	-30,811
OPERATING PROFIT/(LOSS)		9,840,421	7,950,784
Financial income		166,725	52,766
From transferable securities and other financial instruments		166,725	52,766
- In Group and associated companies	20.1	157,800	50,625
‐ In third parties		8,925	2,142
Financial expenses	14	-2,099,505	-783,399
- In Group and associated companies		-11,498	-
‐ In third parties		-2,088,007	-783,399
Change in fair value of financial instruments	9	-1,265,543	-3,462,716
Profit/(loss) from the trading portfolio		-1,265,543	-3,462,716
FINANCIAL PROFIT/(LOSS)		-3,198,322	-4,193,349
PROFIT/(LOSS) BEFORE TAX		6,642,099	3,757,435
Income tax	18	-	-
PROFIT/(LOSS) FOR THE YEAR		6,642,099	3,757,435

Notes 1-27 to the attached half-yearly financial statements are an integral part of the income statement at 30 June 2023

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