Hili Properties plc - Interim Results

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.