MERIDIA IBERIAN REAL ESTATE, SICC, S.A.
CONSOLIDATED FINANCIAL STATEMENTS
Q1 - 2021
Barcelona, June, 2021
BALANCE SHEET
Assets | 31/03/2021 | |
A) NON-CURRENT ASSETS | 936.137,94 | |
I. Intangible assets | 0 | |
VI. DEFERRED TAX ASSETS | 936.137,94 | |
B) CURRENT ASSETS | 8.956.692,04 | |
II. Stocks | 20.000,00 | |
3. | Building for sale in stock | 20.000,00 |
III. Trade and other receivables | 1.290.660,32 | |
1. | Customers | 59.298,66 |
3. | Other Receivables | 338.823,50 |
5. | Current tax assets | 57.467,42 |
6. | Other receivables from Tax Authorities | 835.070,74 |
V. Financial Investments Short Term | 511.347,95 | |
5. | Other fianncial assets | 511.347,95 |
VI. Short-term accruals | 63.613,15 | |
VII. Cash and Cash equivalents | 7.071.070,62 | |
1. | Cash and Cash Equivalents | 7.071.070,62 |
T O T A L A S S E T S | 9.892.829,98 |
Equity and Liabilities | 31/03/2021 | |
A) NET EQUITY | 9.562.191,39 | |
A-1) Equity | 9.562.191,39 | |
I. Share Capital | 3.042.000,00 | |
1. | Share Capital | 3.042.000,00 |
III. Reserves | 17.919.007,01 | |
1. | Legal and estatutory | 8.274.231,31 |
2. | Other Reserves | 9.644.775,70 |
V. Retained earnings | -6.270.324,11 | |
1. | Results from previous years | -4.093.016,26 |
2. | (Negative Results from Previous Years) | -2.177.307,85 |
VII. Result of the year | -128.491,51 | |
VIII. (Dividend distributed to account) | -5.000.000,00 | |
B) NON CURRENT LIABILITIES | 2.785,00 | |
II. Liabilities Long Term | 2.785,00 | |
5. | Other financial liabilities | 2.785,00 |
C) CURRENT LIABILITIES | 327.853,59 | |
IV. Liabilities with group and related parties | 6.459,52 | |
V. Payable suppliers and other payables | 321.394,07 | |
2. | Suppliers, group companies, associates and related | 47.828,96 |
3. | Other Creditors | 216.940,75 |
5. | Tax Liabilities | 43.335,50 |
6. | Tax Authorities - Other Liabilities | 13.288,86 |
T O T A L EQUITY AND LIABILITIES | 9.892.829,98 |
PROFIT AND LOSS ACCOUNT
Profit & Loss | 31/03/2021 | |
A) CONTINUED OPERATION | 0 | |
1. Net Turnover | 73.082,82 | |
b) Services Provided | 73.082,82 | |
7050 SERVICES PROVIDED | 73.082,82 | |
5. Other Operating Income | 17.166,23 | |
a) Other Income | 17.166,23 | |
7. Other Operational Expenses | -306.276,99 | |
a) External Servives | -291.770,95 | |
b) Taxes | -14.506,04 | |
11. | Result for assets disposal | -1.485.230,95 |
b) Result for sale and others | -1.485.230,95 | |
12. | Other Results | 1.054,15 |
A.1) OPERATING RESULT | -1.700.204,74 | |
12. | Financial Income | 514.286,00 |
b) From other financial instruments | 514.286,00 | |
13. | Financial Expenses | -13.688,82 |
b) For Third Parties Debts | -13.688,82 | |
16. | Impairment losses and gain/losses on disposals | 953.612,59 |
A.2) FINANCIAL RESULT | 1.454.209,77 | |
A.3) RESULT BEFORE TAXES | -245.994,97 | |
17. | Corporate Tax | 117.503,46 |
A.4) PROVISIONAL PROFIT FOR THE PERIOD | -128.491,51 | |
A.5) CARRIED INTEREST PROVISION | 25.698,30 | |
18. | Carried Interest Provision | 25.698,30 |
A.6) NET PROFIT FOR THE PERIOD | -102.793,21 |
Partnership: | MERIDIA IBERIAN REAL ESTATE, SICC, S.A. (MIREF) | |||||||||
Quarterly Capital Account Statement at March 31, 2021 | ||||||||||
(Amounts in EUR) | Date: | 31/05/2021 | ||||||||
Fund commitment | 150.000.000,00 | (Size of the Fund) | ||||||||
Partnership commitment | 150.000.000,00 | (Total commitments received) | ||||||||
SUMMARY | AMOUNTS | |||||||||
Total Disbursed | 150.000.000,00 | |||||||||
Provisional Result | 134.362.191,43 | |||||||||
Estimated Dividend | 104.301.221,58 | 104.301.221,58 | ||||||||
Estimated Carried Interest | 30.060.969,85 | |||||||||
Corporate Tax effect | 0,00 | |||||||||
NAV + Distributions After Carried Interest | 254.301.221,58 | |||||||||
Distributed 8% Compensation | 0,00 | |||||||||
Realised Participative Loan Interest | 15.942.657,81 | |||||||||
Realised Dividend Distributed | 0,00 | |||||||||
ESTIMATED DISTRIBUTION TO TOTAL SHAREHOLDERS | 270.243.879,39 | |||||||||
E.M. TOTAL INVESTMENT | 1,80x | |||||||||
Funded and Unfunded Summary | ||||||||||
Total Investors | Commitment Drawn | Nominal Distributed | Actual Nominal Drawn | |||||||
Subordinated | Subordinated | Subordinated | ||||||||
Commitment | Share Capital | Share Capital | Share Capital | |||||||
Loan | Loan | Loan | ||||||||
150.000.000,00 | 84.500.000,00 | 65.500.000,00 | 81.457.999,99 | 65.500.000,00 | 3.042.000,01 | 0,00 | ||||
Financial Summary | ||||||||||
TOTAL INVESTORS | ||||||||||
C O N C E P T S | YTD | Inception to | Quarterly | YTD | Inception to | |||||
31 Dec 2020 | 31 Dec 2020 | Movement | 31 Mar 2021 | 31 Mar 2021 | ||||||
Total Commitment drawn (Shares + Facility Loan) | 0,00 | 150.000.000,00 | 0,00 | 0,00 | 150.000.000,00 | |||||
Total Repayment (Shares + Facility Loan) | 0,00 | -146.957.999,99 | 0,00 | 0,00 | -146.957.999,99 | |||||
N | Shares Dividends (non recallable) | -5.000.000,00 | -101.042.000,00 | 0,00 | 0,00 | -101.042.000,00 | N | |||
VA | Income Related | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | VA | |||
C | Expense Related | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | C | |||
A | A | |||||||||
CL | Unrealised Shareholders Loan Interest | 0,00 | -0,00 | 0,00 | 0,00 | -0,00 | CL | |||
U | Unrealised gains/(losses) | 772.250,12 | -543.703,62 | 522.975,21 | 522.975,21 | -20.728,41 | U | |||
L | L | |||||||||
A | A | |||||||||
TI | Realised gains/(losses) | -2.007.449,43 | 167.384.224,68 | -611.701,87 | -611.701,87 | 166.772.522,81 | TI | |||
O | Income Received | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | O | |||
N | N | |||||||||
S | S | |||||||||
PPS Paid / Management Fee | -2.047.990,57 | -37.820.280,03 | -58.465,35 | -58.465,35 | -37.878.745,38 | |||||
Partnership incomes | -15.368.487,28 | 197.276.831,59 | 162.700,71 | 162.700,71 | 197.439.532,30 | |||||
Partnership expenses | 14.836.499,17 | -218.606.389,68 | -144.000,21 | -144.000,21 | -218.750.389,89 | |||||
D | Distributions Facility Agreement (non recallable) | 0,00 | 65.500.000,00 | 0,00 | 0,00 | 65.500.000,00 | D | |||
I | I | |||||||||
S | S | |||||||||
RT | Distributions Shares (non recallable) | 0,00 | 81.457.999,99 | 0,00 | 0,00 | 81.457.999,99 | RT | |||
I | Realised Shareholders Facility Agreement Interest | 0,00 | 15.942.657,81 | 0,00 | 0,00 | 15.942.657,81 | I | |||
B | B | |||||||||
U | U | |||||||||
T | Realised gains/(losses) - 8% Compensation | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | T | |||
I | I | |||||||||
NO | Shares Dividends (non recallable) | 5.000.000,00 | 101.042.000,00 | 0,00 | 0,00 | 101.042.000,00 | NO | |||
S | S | |||||||||
NAV + DISTRIBUTIONS BEFORE CARRIED INTEREST | -3.815.177,99 | 273.633.340,75 | -128.491,51 | -128.491,51 | 273.504.849,24 | |||||
FACILITY | NAV | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | ||||
NAV+Distributions | 0,00 | 81.442.657,81 | 0,00 | 0,00 | 81.442.657,81 | |||||
SHARES | NAV | -8.815.177,99 | 9.690.682,95 | -128.491,51 | -128.491,51 | 9.562.191,44 | ||||
NAV+Distributions | -3.815.177,99 | 192.190.682,94 | -128.491,51 | -128.491,51 | 192.062.191,43 | |||||
Estimated Carried Interest | 403.035,61 | -30.086.668,15 | 25.698,30 | 25.698,30 | -30.060.969,85 | |||||
Carried Interest Paid | 1.800.000,00 | 26.800.000,00 | 0,00 | 0,00 | 26.800.000,00 | |||||
Corporate Tax Effect | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | |||||
NAV + DISTRIBUTIONS AFTER CARRIED INTEREST | -1.612.142,38 | 270.346.672,60 | -102.793,21 | -102.793,21 | 270.243.879,39 | |||||
FACILITY | NNAV | 0,00 | 0,00 | 0,00 | 0,00 | 0,00 | ||||
NNAV+Distributions | 0,00 | 81.442.657,81 | 0,00 | 0,00 | 81.442.657,81 | |||||
SHARES | NNAV | -6.612.142,38 | 6.404.014,80 | -102.793,21 | -102.793,21 | 6.301.221,60 | ||||
NNAV+Distributions | -1.612.142,38 | 188.904.014,79 | -102.793,21 | -102.793,21 | 188.801.221,59 | |||||