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Hili Properties plc – Interim Results

Jonathan Falzon

September 1, 2025

1 September, 2025
3 min read
1 September, 2025
3 min read

Following last week's article detailing the performance of the S&P 500 index in 2025, it is worth devoting time to review the developments across the European equity markers in my last article of the year.

Financial Performance

On 29 August 2025, Hili Properties plc published its interim financial statements covering the six-month period ended 30 June 2025.

Revenues increased by 4.0% to €7.92 million compared to €7.61 million in the previous year.

Meanwhile, operating expenses (net of other income) fell by 5.3% to €1.63 million. Consequently, operating profit rose by 7.0% to a record at interim stage of €6.31 million compared to €5.90 million in the first half of 2024. The operating profit margin also improved to 79.8% (H1 2024: 77.8%).

Net finance costs increased by 9.9% to €3.52 million (H1 2024: €3.20 million).

Profit before tax increased by 9.0% to €2.78 million. After accounting for a tax charge of €1.01 million the net profit attributable to shareholders for the period amounted to €1.76 million compared to €1.67 million recognised for the first half of 2024.

The Statement of Financial Position as at 30 June 2025, when compared to figures as at 31 December 2024, shows that total assets remained virtually unchanged at €253 million, principally comprising of real estate assets amounting to €240 million, of which €46 million are classified as held for sale. Total liabilities fell by 0.9% (or €1.2 million) to €131.6 million which include borrowings of €105.5 million. Total equity increased by 1.5% (or €1.8 million) to €121.9 million, which translates into a net asset value per share of €0.304 (31 December 2024: €0.300).

Outlook

In their commentary, the Directors remarked that the Group is implementing actions to rebalance its gearing position by refinancing existing facilities into more efficient and flexible funding structures, while managing the available cash ahead of the repayment of its €37 million bond due in October 2025.

The Board noted that it will continue to proactively manage its property portfolio, while cognisant of the prevailing economic conditions including the elevated inflation and interest rates in the EU, where the Group’s properties are located.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

The article contains public information only and is published solely for informational purposes. It should not be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. No representation or warranty, either expressed or implied, is provided in relation to the accuracy, completeness or reliability of the information contained herein, nor is it intended to be a complete statement or summary of the securities, markets or developments referred to in this article. Rizzo, Farrugia & Co. (Stockbrokers) Ltd (“Rizzo Farrugia”) is under no obligation to update or keep current the information contained herein. Since the buying and selling of securities by any person is dependent on that person’s financial situation and an assessment of the suitability and appropriateness of the proposed transaction, no person should act upon any recommendation in this article without first obtaining investment advice. Rizzo Farrugia, its directors, the author of this article, other employees or clients may have or have had interests in the securities referred to herein and may at any time make purchases and/or sales in them as principal or agent. Furthermore, Rizzo Farrugia may have or have had a relationship with or may provide or has provided other services of a corporate nature to companies herein mentioned. Stock markets are volatile and subject to fluctuations which cannot be reasonably foreseen. Past performance is not necessarily indicative of future results. Foreign currency rates of exchange may adversely affect the value, price or income of any security mentioned in this article. Neither Rizzo Farrugia, nor any of its directors or employees accepts any liability for any loss or damage arising out of the use of all or any part of this article. Additional information can be made available upon request from Rizzo, Farrugia & Co. (Stockbrokers) Ltd., Airways House, Fourth Floor, High Street, Sliema SLM 1551. Telephone: +356 2258 3000; Email: info@rizzofarrugia.com; Website: www.rizzofarrugia.com © 2021 Rizzo, Farrugia & Co. (Stockbrokers) Ltd. All rights reserved. This article may not be reproduced or redistributed, in whole or in part, without the written permission of Rizzo Farrugia. Moreover, Rizzo Farrugia accepts no liability whatsoever for the actions of third parties in this respect.

This article was produced by Edward Rizzo, Director at Rizzo Farrugia, which is a company licensed to undertake investment services in Malta by the MFSA under the Investment Services Act, Cap. 370 of the Laws of Malta and a member of the Malta Stock Exchange. The company’s registered address is at Airways House, Fourth Floor, High Street, Sliema SLM 1551, Malta.

On 29 August 2025, Hili Properties plc published its interim financial statements covering the six-month period ended 30 June 2025.

Revenues increased by 4.0% to €7.92 million compared to €7.61 million in the previous year.

Meanwhile, operating expenses (net of other income) fell by 5.3% to €1.63 million. Consequently, operating profit rose by 7.0% to a record at interim stage of €6.31 million compared to €5.90 million in the first half of 2024. The operating profit margin also improved to 79.8% (H1 2024: 77.8%).

Net finance costs increased by 9.9% to €3.52 million (H1 2024: €3.20 million).

Profit before tax increased by 9.0% to €2.78 million. After accounting for a tax charge of €1.01 million the net profit attributable to shareholders for the period amounted to €1.76 million compared to €1.67 million recognised for the first half of 2024.

The Statement of Financial Position as at 30 June 2025, when compared to figures as at 31 December 2024, shows that total assets remained virtually unchanged at €253 million, principally comprising of real estate assets amounting to €240 million, of which €46 million are classified as held for sale. Total liabilities fell by 0.9% (or €1.2 million) to €131.6 million which include borrowings of €105.5 million. Total equity increased by 1.5% (or €1.8 million) to €121.9 million, which translates into a net asset value per share of €0.304 (31 December 2024: €0.300).

Outlook

In their commentary, the Directors remarked that the Group is implementing actions to rebalance its gearing position by refinancing existing facilities into more efficient and flexible funding structures, while managing the available cash ahead of the repayment of its €37 million bond due in October 2025.

The Board noted that it will continue to proactively manage its property portfolio, while cognisant of the prevailing economic conditions including the elevated inflation and interest rates in the EU, where the Group’s properties are located.