Shoreline Mall plc - Updated Financial Analysis Summary

On 22 December 2023, Shoreline Mall plc published an updated Financial Analysis Summary, including forecasts for the current financial year ending 30 April 2024 and projections for the following two years up to 30 April 2026. The following are the main highlights of the expected financial performance and position of Shoreline Mall plc:

• In FY2023/24, revenue is expected to amount to €14.1 million with €9.4 million to be generated from the sale of car spaces, €2.1 million from the operations of the shopping mall and €2.6 million from the sale of residential units. In FY2024/25, revenue is anticipated to amount to €12.5 million, reflecting further income from the shopping mall and the sale of residential units. In FY2025/26, revenue is projected at €12.1 million as the increase in income expected from the shopping mall is anticipated to be offset by lower sales residences.
• Shoreline Mall plc is expecting EBITDA of €5.9 million in FY2023/24, €7.8 million in FY2024/25 and €8.1 million in FY2025/26.
• Net finance costs are forecasted to remain stable at €1.73 million annually during the projected period.
• In terms of financial position, Shoreline Mall plc is expected to end FY2023/24 with total assets of €76.0 million, total debt of €52.2 million and an equity position of €21.5 million. These translate into a gearing ratio of 70.9% and a debt-to-asset ratio of 0.69 times.
• The company is expecting to end FY2025/26 with total assets of €78.8 million, total debt of €46.2 million and an equity position of €30.3 million. These translate into a gearing ratio of 60.4% and a debt-to-asset ratio of 0.59 times.