Best Deal Properties Holding plc - Updated Financial Analysis Summary

On 31 May 2023, Best Deal Properties Holding plc published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and position of Best Deal Properties in 2023:

• Revenues are anticipated to amount to €15.5 million (2021: €14.1 million) reflecting the sale of units forming part of the Pembroke, Mellieħa and Zabbar development projects.
• EBITDA is expected to drop to €3.16 million (2022: €3.41 million), but the figure is slightly higher than the previously projected figure for 2023 of €3.09 million.
• The forecasted Statement of Financial Position as at 31 December 2023 shows that total borrowings are expected to remain at relatively the same level of €22.3 million.
• The gearing ratio (calculated as total debt divided by total debt plus equity) is anticipated to drop to 67% by the end of 2023 from 70.9% in 2022, whilst the debt to asset ratio is forecasted to ease slightly to 0.64 times from 0.65 times in 2022.
• However, in view of the €7 million increase in cash to €10.3 million, net debt is anticipated to drop to €12 million, compared to €16 million as at the end of 2022.