VBARE Iberian Properties SOCIMI : Financial Information H1 2019

VBARE Iberian Properties SOCIMI, S.A.

Stand-Alone Selected Financial Information for the six-month period ended 30 June 2019

VBARE Iberian Properties SOCIMI, S.A.

Interim Balance Sheet at 30 June 2019 and 31 December 2018

(€ Thousand)

Assets	30 June 2019	31 December 2018
Non- Current Assets	33,202	27,452
Property plant and equipment	3	3
Investment properties	27,131	21,405
Non - Current financial assets	127	104
Investments in group companies and long-term associates.	5,940	5,940
Current Assets	790	4,988
Advance payments to suppliers	19	33
Trade and other receivables	57	69
Trade debtors	28	38
Other receivables from Public Administrations	29	31
Other current financial assets	2	-
Other receivables group companies and associates	9	9
Short term accruals	28	43
Cash and cash equivalents	675	4,834
Total Assets	33,992	32,440

(*) This information has not been audited either reviewed.

2

VBARE Iberian Properties SOCIMI, S.A.

Interim Balance Sheet at 30 June 2019 and 31 December 2018

(€ Thousand)

Equity and Liabilities	30 June 2019	31 December 2018
Net Equity	18,057	19,443
Share capital	11,949	11,949
Share Premium	12,442	12,887
Treasury shares	(224)	(247)
Retained earnings	(6,110)	(5,146)
Non-current Liabilities	14,446	11,246
Non-current financial liabilities	14,446	11,246
Bank Borrowings	14,194	11,024
Other financial liabilities	252	222
Current Liabilities	1,488	1,751
Current financial liabilities	587	332
Bank Borrowings	587	332
Other financial liabilities	-	-
Current financial liabilities group companies	901	1,419
Trading creditors and other accounts payable	252	125
Trade Payables	583	1,204
Accruals, wages and salaries	21	15
Other payables with Tax Administration	36	59
Advances from creditors	9	16
Equity and Liabilities	33,992	32,440

(*) This information has not been audited either reviewed.

3

VBARE Iberian Properties SOCIMI, S.A. and subsidiaries

Preparation of the Interim Condensed Consolidated Financial Statements for the six-month period ended 30 June 2018 prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union.

Interim Income Statement for the six-month period ended 30 June 2019 and 30 June 2018

(€ Thousand)

Continuing operations	30 June 2019	30 June 2018
Gross Rental income	829	648
Other operating expenses	(1,570)	(1,167)
Investments properties amortization	(77)	(63)
Operating result	(818)	(582)
Finance result	(150)	(73)
Profit for the period before taxes	(968)	(655)
Corporate income tax	-	-
Profit for the period attributable to the shareholders	(968)	(655)

(*) This information has not been audited either reviewed.