Central Business Centres plc - Updated Financial Analysis Summary
On 3 June 2025, 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 2025:
- Revenues are forecasted to surge by 14.5% to €2.72 million (2024: €2.37 million) largely reflecting higher occupancy levels in the commercial properties at Mrieħel, St. Julian’s and Valletta.
- EBITDA is expected to rise by 14.1% to €2.34 million from €2.05 million in 2024.
- Net finance costs are projected to fall by 11.2% to €1.51 million. As a result, the interest cover is expected to improve to 1.66 times compared to 1.29 times in 2024.
- Total debt is forecasted to decrease by 1.2% to €37.6million. Consequently, the gearing ratio (calculated as total debt divided by total debt plus equity) is expected to fall to 57.5% from 58.2% as at the end of 2024.
- The debt-to-asset ratio is expected to remain largely unchanged at 0.48 times.
- CBC explained that the property in Valletta known as the Savoy is undergoing conversion and construction works to expand upper levels by 2,400 square metres. The project is expected to be finalised by the end of 2026 and management are expecting it to be fully occupied upon completion.