Investor Presentaiton
Robust Balance Sheet with a Healthy Debt Equity Funding Mix
Summary Balance Sheet
31-Dec YE- € MM
2018A
2019 A
YOY A
9M 2020
A
Assets
A
Investment property
3,750.4
4,429.6
+18.1%
B
Land bank
277.1
295.2
+6.6%
Investment property under development
315.4
440.7
+39.8%
C
Property, plant and equipment
120.8
116.9
Receivables from related parties
15.5
54.3
4,725.0
291.0
522.4
103.0
25.1
Other non-current assets
31.9
20.8
Total non-current assets
4,511.0
5,357.5
+18.8%
26.0
5,691.6
C
D
Trade and other receivables
71.3
90.4
75.9
Cash and cash equivalents
46.3
63.8
64.9
Other current assets
8.8
14.3
Total current assets
Total assets
Liabilities
126.4
168.5
+33.3%
4,637.4
5,526.0
+19.2%
9.0
150.1
5,841.8
E
E
Interest-bearing loans and borrowings
1,977.3
2,494.9
+26.2%
Long-term payables to related parties
967.2
41.1
2,664.5
37.8
G
Deferred tax liabilities
397.6
Other non-current liabilities
29.8
491.4
32.7
+23.6%
510.5
F
41.8
Total non-current liabilities
3,371.9
3,060.1
E
Interest-bearing loans and borrowings - current
152.3
182.9
3,254.5
214.0
G
H
Trade and other payables
145.0
168.4
170.2
Other current liabilities
7.5
71.8
Total current liabilities
Total liabilities
Equity
Issued capital
304.7
3,676.7
423.1
3,483.1
+38.8%
22.3
406.5
3,661.1
0.2
899.6
166.2
2,180.0
0.7
2,180.7
Includes investment properties completed
and acquired during the year, new
developments initiated and impact of net
revaluation result
B Land bank as valued by a registered
independent valuator
PP&E reduction due to negative valuation in
2020 of the hotel portfolio in Czech Republic
(€12 MM) and depreciation; maintenance
capex primarily expensed through P&L
D Represents accrued rent and rent-related
income, prepayments and tax receivables
Secured refinancing of the Czech industrial
portfolio by a syndicate loan facility for a
total committed amount of €1.9 Bn
Movements related to corporate structure
simplification-related restructuring
Increase in deferred tax liabilities reflect the
net valuation result on investment properties
H Represents liabilities for constructions
works and liabilities related to acquisition of
land
2018 Equity attributable to equity holders
reflecting the ongoing group's
restructuring and its effect of €684 MM
increase in equity would result in total
equity of €1,644 MM. CTP initiated legal
restructuring to create the current group
structure clear division between
development arm and property fund
under CTP B.V.
F
Reserves
158.2
853.7
Retained earnings
437.0
796.4
1,114.0
Net result for the period
364.9
392.2
Total equity attributable to equity holders
960.1
2,042.2
Non-controlling interest
Total equity
0.6
960.7
0.6
2,042.8
Source: Company information
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