Central Business Centres plc - Updated Financial Analysis Summary

On 14 June 2024, Central Business Centres plc (‘CBC’) published an updated Financial Analysis Summary. The following are the main highlights of the expected financial performance and financial position of CBC in 2024:

• Revenues are forecasted to increase by 27.5% to €2.24 million (2023: €1.76 million) largely reflecting the annual increases in rental rates as well as the operations of a newly acquired property in Mrieħel.
• EBITDA is expected to rise by 49% to €2.0 million from €1.34 million in 2023.
• Net finance costs are projected to remain at €1.32 million, in line with the previous year. As a result, the interest cover is expected to improve to 1.58 times compared to 1.09 times in 2023.
• Total debt is forecasted to increase by 14.3% (or €5 million) to €40 million. Consequently, the gearing ratio (calculated as total debt divided by total debt plus equity) is expected to climb to 62.2% from 59.5% as at the end of 2023.
• CBC’s debt-to-asset ratio is expected to increase to 0.57 times compared to 0.53 times as at 31 December 2023.