Saint Croix Immobilier SOCIMI S A : Results second quarter 2022

SAINT CROIX HOLDING IMMOBILIER,

SOCIMI, S.A.

Half-Yearly Financial Statements and Management Report for the six-month period

ended 30 June 2022

(Unaudited)

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Table of Contents

Half-Yearly Financial Statements	2
1.	Company Activity	8
2.	Applicable legislation	9
3.	Presentation basis of interim financial statements	12
4.	Distribution of earnings	13
5.	Accounting principles and registration and valuation standards	13
6.	Property investments	19
7.	Operational leasing	22
8.	Other financial assets and investments in related companies	23
9.	Trade and other receivables	25
10.Cash and cash equivalents	25
11.Information on the nature and level of risks affecting financial instruments	26
12.Equity and Own Funds	27
13.Current and non-current liabilities	30
14.Hedge instruments	32
15.Disclosure on payment deferrals for suppliers	32
16.Guarantees undertaken with third parties	33
17.Public administrations and tax situation	33
18.Earnings and expenses	37
19.Related-party transactions and balances	38
20.Remuneration for the Board of Directors and Senior Management	40
21.Disclosure on situations of conflicts of interest involving the directors	40
22.Other information	41
23.Environmental information	41
24.International Financial Reporting Standards	42
25.Subsequent events	42
Annex 1. Information requirements deriving from being classed as a REIT	43
Management Report	47
1.	Explanation of the figures at 30 June 2022	48
2.	Valuation of real estate assets	52
3.	Segmented reporting	53
4.	Property investments	55
5.	Disclosure on payment deferrals for suppliers	55
6.	Earnings per share at 30 June 2022	56
7.	Acquisition of treasury shares	56
8.	Research and development activities	56
9.	Main risks faced by the Company	57
10.Outlook for 2022	58
11.Disclosure on conflicts of interest involving the directors	58
12.Subsequent events	58
Directors' Declaration of Responsibility	59
Diligence in the Preparation of Interim Financial Statements	60

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Half-Yearly Financial Statements (Unaudited)

30 June 2022

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SAINT CROIX HOLDING IMMOBILIER, SOCIMI, S.A.

BALANCE SHEET AT 30 June 2022 AND 31 December 2021

(Euros)

ASSETS	Notes	30 June 2022	31 December 2021		EQUITY AND LIABILITIES	Notes	30 June 2022	31 December 2021
NON-CURRENT ASSETS		397,784,030	399,535,635		EQUITY	12	301,234,839	312,408,821
					OWN FUNDS
Intangible fixed assets		120	205
Software applications		120	205		Capital		267,577,040	267,577,040
Property, plant and equipment		850	1,152		Authorised capital		267,577,040	267,577,040
Plant and other tangible fixed assets		850	1,152		Reserves		28,981,526	22,304,878
Property investments	6	395,388,023	396,957,408		Legal and statuary		10,028,141	7,845,663
Net property investments		395,388,023	396,957,408		Other reserves		18,953,385	14,459,215
Long-term financial investments	8	2,395,036	2,576,870		Profit (Loss) for the year	4	3,757,435	21,824,771
Other financial assets		2,395,036	2,576,870		Interim dividend	4	-	-
					Valuation adjustments		-638,464	-283,008
					Hedging operations	14	-38,126	-283,008
					Subsidies, donations and bequests received		956,965	985,140
					Subsidies, donations and bequests received		956,965	985,140
					NON-CURRENT LIABILITIES		83,844,450	84,940,968
					Non-current payables	13	83,844,450	84,940,968
					Bank borrowings		80,321,267	80,987,013
					Derivatives	12 and 14	38,126	283,008
					Other financial liabilities		3,485,057	3,670,947
CURRENT ASSETS		16,099,908	18,343,748		CURRENT LIABILITIES		28,804,649	20,529,594
Inventories		2,257	9,718		Current payables	13	26,354,253	17,969,976
Advance payments to suppliers		2,257	9,718		Debentures and bonds		-	2,026,165
Trade and other receivables	9	1,345,639	3,635,610		Bank borrowings		25,407,775	15,343,959
Trade receivables from sales and services		1,337,941	3,607,767		Other financial liabilities		946,477	599,852
Trade and other receivables		-	20,017		Short-term Group debts	8 and 19.2	-	38,400
Staff		352	480		Trade and other payables		2,450,396	2,521,218
Current tax assets	17.1	7,346	7,346		Suppliers		798,061	755,682
Short-term investments in Group	8 and 19.2	3,323,549	-		Sundry creditors		1,315,547	979,640
Short-term financial investments	8	10,576,283	13,566,607		Other tax payables	17.1	317,588	782,896
Short-term equity instruments		9,936,985	13,399,701		Advance payments from customers		19,200	3,000
Other financial assets		639,298	166,906
Cash and cash equivalents	10	852,181	1,131,813
Cash and bank		852,181	1,131,813
TOTAL ASSETS		413,883,938	417,879,383		TOTAL EQUITY AND LIABILITIES		413,883,938	417,879,383

Notes 1-25 to the attached half-yearly financial statements are an integral part of the balance sheet at 30 June 2022.

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SAINT CROIX HOLDING IMMOBILIER, SOCIMI, S.A.

PROFIT AND LOSS ACCOUNT AT 30 June 2022

(Euros)

	Notes to the
	Financial Statements	30 June 2022	30 June 2021
CONTINUED OPERATIONS
Revenue	18.1	12,352,804	10,858,388
Lease of property		12,352,804	10,858,388
Procurements		-	16,849
Consumption of raw materials and other consumables		-	-4,345
Work performed by other companies		-	21,194
Other operating income	18.1	53,803	33,046
Non-core and other current management income		53,803	33,046
Personnel expenses	18.2	-233,957	-219,348
Wages, salaries and similar outgoings		-189,327	-176,665
National Insurance contributions		-44,630	-42,683
Other operating expenses		-1,458,266	-1,206,251
Outside services	18.3	-1,448,637	-1,178,307
Taxes and similar levies	18.3	-13,294	-36,495
Losses, impairment and changes in provisions for trade transactions	9	3,665	8,551
Fixed asset depreciation	6	-2,917,753	-2,817,258
Allocation of non-financial fixed asset subsidies and others	12 and 18.1	28,175	28,175
Impairments and gains (losses) on fixed asset disposals	6	156,789	-13,485
Gains/(losses) on disposals and others		156,789	-13,485
Other gains/(losses)		-30,811	22,731
Exceptional income and expenses		-30,811	22,731
OPERATING PROFIT/(LOSS)		7,950,784	6,702,847
Financial income		52,766	99,579
From transferable securities and other financial instruments		52,766	99,579
- In Group and associated companies	19.1	50,625	40,384
‐ In third parties		2,142	59,195
Financial expenses	13	-783,399	-981,303
From debts with third parties		-783,399	-981,303
Change in fair value of financial instruments	8	-3,462,716	844,597
Profit/(loss) from the trading portfolio		-3,462,716	844,597
FINANCIAL PROFIT/(LOSS)		-4,193,349	-37,127
PROFIT/(LOSS) BEFORE TAX		3,757,435	6,665,720
Income tax	17	-	-
PROFIT/(LOSS) FOR THE YEAR		3,757,435	6,665,720

Notes 1-25 to the attached half-yearly financial statements are an integral part of the income statement at 30 June 2022

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