ALLIANCE DEVELOPPEMENT CAPITAL (ADC SIIC): Communication on 2021 results

CDA SIIC

Regulatory information

result Annual plants 2021

Brussels, April 28, 2022, 6:30 pm

highlight

heritage
39.2 million euros
(At fair value including minority interests)

Consolidated net income
Group share
-934K €

Overall result
Group share
+ 245K €

ANR
0.369 euros / share

Course April 27, 2022 :
0.0825 €
That is, a 77.77% discount compared to NAV

  • A real estate portfolio of € 39.2 million, excluding tariffs, according to a valuation as of December 31, 2021.
  • A € 36 million portfolio (8) consisting of most of the walls of a 4-star hotel on Rue du Faubourg Saint-Honore in Paristh), 85% owned through a subsidiary,
  • Paris apartment (7th) 3.5 million euros with bare ownership.
  • Dual Holding € 1990 Million Equity
  • € 5.4 million stake in Hillgrove Investments Group, a 50% co-owner of real estate in central London.

Business key numbers Linking

Comprehensive consolidated balance sheet
(Millions of euros)
December 31, 2021 December 31, 2020
Real estate portfolio at fair value 39.2 39.5
Other fixed assets 0.5 0.4 0.4
Investment accounted for using the equity method (Dual Holding and Hillgrove Investments Group) 25.3 24.1
Current assets (excluding investment real estate) 9.5 10.9
(Cash and cash equivalents of them) 2.9 4.6
Total assets 74 74 .Five 74.9
Comprehensive consolidated balance sheet
(Millions of euros)
December 31, 2021 December 31, 2020
Equity (group share) 49.8 49.5
Minority interest (1) 5.5 5.5 5.4
Current and non-current financial debt 0.4 0.4 0.4 0.4
Current and non-current liabilities excluding finance 18.8 19.6
Total debt 74 74,Five 74.9
(1) Minority interests will be generated in the minority shareholders (15.01%) of BASSANO DEVELOPPEMENT.
Net Income and Comprehensive Income Statement
(Millions of euros)
December 31, 2021 December 31, 2020
Total asset income 811 798
Net income from the building 629 587
Operating expenses and income (766) (876)
Changes in the value of investment real estate (269) (2,120)
Other allowances and cancellations (one two three) (122)
Operating profit before disposal (528) (2,531)
Disposal result – – – –
Operating profit after disposal (528) (2,531)
Share Associate Results (16) (411)
Later business results Quote Share of Associate’s Net Income (545) (2,942)
Revenue (389) 1,360
income tax – – (12)
Consolidated net income (934) (1,594)
Minority interest 33 33 (238)
Net income, group share (967) (1,356)
Conversion difference in financial statements of foreign activities 1,212 (191)
Consolidated comprehensive income group share 245 (1,546)

result

Group activity increased by 7%.The group’s net profit is
€ 629,000 as of December 31, 2020, compared to € 587,000 as of December 31, 2020, is primarily due to lower overall rents (€ -38,000).

Fluctuations in the fair value of buildings will reach -0.3 million euros compared to -2.1 million euros in 2020. That is, a very limited reduction of 0.7% in relation to the end of the health crisis.

Therefore, the operating profit was -500,000 euros.

The financial result is -0.4 million euros, mainly including VMP losses (-0.22 million euros) and interest on the DUAL HOLDING current account (-0.15 million euros).

A company accounted for using the equity method accounts for -0.02 million euros in performance.

Therefore, the consolidated net loss and group share will be -0.9M € compared to -1.6M €.
December 31, 2021

heritage

As of December 31, 2021, the Alliance Développement Capital SIIC Group’s portfolio consists primarily of most of the walls of a 4,088 m² 4-star hotel on Rue du Faubourg Saint-Honore in Paris and 1,026 m² of related shops. (8th) Worth 35.8 million euros.

The owner of these assets, BASSANO DEVELOPPEMENT, is 85% owned by ADC SIIC and 15% owned by another SIIC listed real estate company.

ADC SIIC also owns naked ownership of a 270 m² apartment in Paris (7th), worth € 3.4 million.

The real estate portfolio is valued by accredited RICS accredited professionals.

Alliance Développement Capital SIIC also holds a 27% stake in DUAL HOLDING as of December 31, 2021 and a 50% stake in HILLGROVE SiO GROUP SA as of December. The 31st of 2021 is 5.4 million euros. These two companies are consolidated using the equity method.

Revalued net worth

Net worth was revalued except for obligations
(Thousands of euros)
December 31, 2021 December 31, 2020
Consolidated net status (group share) 49,775 49,531
Treasury stock (1) 4,167 167
Unrealized capital gains on treasury stock 256 254
total 50 199 49,952
Number of actions 135 925 119 135 925 119
NAV per share 0.3693 0.3671

(1) 1,147,640 treasury stock as of December 31, 2021 and December 31, 2020.

event rear December 31 2021 And outlook 2022

Investors will undoubtedly continue to pay attention to this health and geopolitical situation, which uncertains the economic environment. Arbitration focuses on occupancy stability. However, the basic trend remains towards the continued allocation of funds to real estate. This trend does not seem to change, especially as alternative investments show great volatility. Therefore, real estate must continue to provide stable and attractive returns compared to other asset families.

The situation in the hotel department is mobilizing management and teams. Regarding leasing activities, we are proceeding with legal procedures to ensure the collection of rent.

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The financial statements as of December 31, 2021 were approved by the Board of Directors on April 28, 2022. It is clearly stated that the audit procedure has been carried out and the certification report is being issued.

Alliance development SIIC CapitalEuronext Paris, a real estate company under the laws of Belgium listed in Section C of Paris.
The managing director of the company is Alain Duménil.

ISIN code: BE0974269012
For more information on the group, please visit http://www.adcsiic.eu.

  • ADC – April 28, 2022 Press Release on Results for Years Ended December 31, 2021


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