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Review pending. Every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review has not yet been carried out, and these pages are not indexed.AI-assisted source check done; independent review pending; not indexed. About the review

Lighthouse Properties

LTE · A2X Markets · Consolidated statements

On this page
Company details
Legal name
Lighthouse Properties p.l.c.
Listing
LTE on the A2X Markets, active · ISIN MU0461N00015 (observed 2026-10-08)
Sector
Not classified (our classification from the stated principal activity)
Financial year ends
31 December

Overview

Year ended 31 December 2025 · annual report, signed / final · source

  • Revenue

    EUR 148 million

    147,801,993 EUR units · p59

    +36.6% vs 2024

  • Operating profit / (loss)

    EUR 123 million

    123,173,130 EUR units · p59

    +93.1% vs 2024

  • Profit / (loss) for the year

    EUR 92.5 million

    92,495,138 EUR units · p59

    +99.8% vs 2024

  • Total assets

    EUR 1.66 billion

    1,662,046,333 EUR units · p59

    +19.0% vs 2024

  • Total equity

    EUR 924 million

    923,606,319 EUR units · p59

    +7.3% vs 2024

  • Cash from operations

    EUR 6.73 million

    6,725,684 EUR units · p60

    −67.2% vs 2024

Large amounts are rounded for reading (EUR million / billion / trillion); exact figures as printed are under each amount and in the tables. No currency conversion.

Financial statements

Exact figures as printed. Each column comes from one filing; labels are as printed in the newest filing. Amounts in EUR units unless the row says otherwise; brackets are negative.

† from a supplementary filing for the same year · ‡ signed audited statements preferred over a disputed figure · “–” is a printed dash, explained below the table

Column sources

  • FY2025 — annual report, signed / final; reported for the year · source
  • FY2024 — annual report, signed / final; comparative in the FY2025 filing · source

Income statement

Income statement, EUR units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Property rental and related revenue1 146,741,975 99,997,494
Investment revenue2 1,060,018 8,216,874
Total revenue 147,801,993 108,214,368
investments and derivatives and impairment3 19,876,101 (3,136,631)
Fair value gain on investment property4 17,384,473 3,150,682
Fair value gain on investments5 3,382,056 3,768,593
Fair value loss on currency and interest rate derivatives6 (890,428) (10,055,906)
Property operating expenses7 (53,509,808) (41,745,881)
Administrative and other expenses (9,275,689) (7,958,942)
Foreign exchange gain/(loss) 1,405,239 1,885,152
Share of profit of associate 16,875,294 6,526,874
Operating profit 123,173,130 63,784,940
Finance income 2,329,015 3,661,532
Finance costs (31,616,508) (20,527,956)
Other (expense)/income8 (21,204) –9
Profit before tax 93,864,433 46,918,516
Taxation (1,369,295) (1,828,673)
Profit for the year from continuing operations10 92,495,138 45,089,843
Profit for the year from discontinued operations11 –12 1,215,492
Profit for the year 92,495,138 46,305,335
Non-controlling interests13 (10,516,336) (18,637,510)
  1. Printed “–”, read as nil: subtotal_arithmetic: is.profit_before_tax.
  2. Printed “–”, read as nil: subtotal_arithmetic: is.profit_for_year.
Notes and alternative reported figures (11)
  1. “Property rental and related revenue” is an issuer-specific line, not mapped to a shared definition: Note 15.1.
  2. “Investment revenue” is an issuer-specific line, not mapped to a shared definition: Note 15.2: dividends from listed security investments.
  3. “investments and derivatives and impairment” is an issuer-specific line, not mapped to a shared definition: Printed subtotal of the fair value and impairment lines.
  4. “Fair value gain on investment property” is an issuer-specific line, not mapped to a shared definition: Note 3.
  5. “Fair value gain on investments” is an issuer-specific line, not mapped to a shared definition: Note 4: listed security investments.
  6. “Fair value loss on currency and interest rate derivatives” is an issuer-specific line, not mapped to a shared definition: Derivatives.
  7. “Property operating expenses” is an issuer-specific line, not mapped to a shared definition: Note 16.1.
  8. “Other (expense)/income” is an issuer-specific line, not mapped to a shared definition: Below operating profit.
  9. “Profit for the year from continuing operations” is an issuer-specific line, not mapped to a shared definition: Profit after tax from continuing operations.
  10. “Profit for the year from discontinued operations” is an issuer-specific line, not mapped to a shared definition: Note 28.
  11. “Non-controlling interests” is an issuer-specific line, not mapped to a shared definition: Non-controlling interests' share.

Balance sheet

Balance sheet, EUR units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Non-current assets 1,570,629,674 1,245,716,900
Investment property 1,489,008,000 1,182,935,000
Plant and equipment 337,261 –1
Equity-accounted investments2 66,902,168 50,026,874
Other financial assets3 14,382,245 12,755,026
Current assets 91,416,659 151,034,483
Investments 10,586,772 34,218,800
Loans to equity-accounted investments4 2,634,226 4,851,620
Other financial assets5 –6 1,117,213
Trade and other receivables 26,272,273 21,225,977
Cash and cash equivalents 51,923,388 89,620,873
Total assets 1,662,046,333 1,396,751,383
Total equity 923,606,319 860,445,181
Share capital 20,890,102 20,233,537
Share premium 535,536,693 510,568,809
Treasury shares7 (2,220,989) (1,429,439)
Non-distributable reserve8 117,155,423 102,276,263
Foreign currency translation reserve9 (1,393,006) (1,393,006)
Share-based payment reserve10 1,410,732 840,248
Retained earnings 257,595,337 224,200,407
Equity attributable to equity holders 928,974,292 855,296,819
Non-controlling interest (5,367,973) 5,148,362
Total liabilities 738,440,014 536,306,202
Non-current liabilities 692,619,957 496,322,642
Interest-bearing borrowings 659,507,220 464,748,106
Deferred tax liabilities 16,739,480 17,510,937
Other financial liabilities11 16,373,257 14,063,599
Current liabilities 45,820,057 39,983,560
Interest-bearing borrowings 7,711,698 7,737,509
Other financial liabilities11 446,739 143,388
Trade and other payables 36,239,540 29,228,751
Taxation payable 1,422,080 2,873,912
Total equity and liabilities 1,662,046,333 1,396,751,383
  1. Printed “–”, read as nil: subtotal_arithmetic: bs.non_current_assets.
  2. Printed “–”, read as nil: subtotal_arithmetic: bs.current_assets.
Notes and alternative reported figures (9)
  1. “Equity-accounted investments” is an issuer-specific line, not mapped to a shared definition: Note 5.3: associates and joint ventures.
  2. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 6: derivatives and other financial assets.
  3. “Loans to equity-accounted investments” is an issuer-specific line, not mapped to a shared definition: Note 5.4.
  4. “Other financial assets” is an issuer-specific line, not mapped to a shared definition: Note 6.
  5. “Treasury shares” is an issuer-specific line, not mapped to a shared definition: Note 10.3 (deducted from equity).
  6. “Non-distributable reserve” is an issuer-specific line, not mapped to a shared definition: Note 1.8: fair value gains transferred to a non-distributable reserve.
  7. “Foreign currency translation reserve” is an issuer-specific line, not mapped to a shared definition: Note 1.13.
  8. “Share-based payment reserve” is an issuer-specific line, not mapped to a shared definition: Notes 1.9 and 7.
  9. “Other financial liabilities” is an issuer-specific line, not mapped to a shared definition: Note 13.

Cash flow

Cash flow, EUR units. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Cash generated from/(used in) operations 80,002,196 58,832,486
Finance income received 2,151,973 7,529,287
Finance costs paid1 (23,766,821) (21,346,584)
Income tax paid (3,326,459) (2,378,861)
Distributions paid2 (48,335,205) (22,153,688)
Cash inflow/(outflow) from operating activities 6,725,684 20,482,640
Development and improvement of investment properties3 (23,526,208) (13,801,449)
Acquisition of investment property4 (208,281,728) (172,531,496)
Acquisition of listed security investments5 –6 (42,828,385)
Proceeds from disposal of listed equity security investments7 27,014,084 278,651,193
Acquisition of subsidiary – H2O, net of cash acquired8 –6 (44,741,663)
acquired9 –6 (87,689,680)
Acquisition of interest in equity-accounted associate10 –6 (43,500,000)
Proceeds on disposal of investment property11 –6 68,750,000
Additions to plant and equipment (337,261) –6
Receipts on loans from equity-accounted investments12 2,394,436 40,500,000
Payments on loans to equity-accounted investments13 –6 (35,157,820)
Cash outflow from investing activities (202,736,677) (52,349,300)
Issue of shares14 19,222,270 52,433,953
Purchase of treasury shares15 (936,974) (511,566)
Repayments of interest-bearing borrowings (9,217,939) (37,081,108)
Borrowing costs paid16 (5,299,088) (4,125,907)
Proceeds from interest-bearing borrowings 153,140,000 2,800,000
Cash inflow from financing activities 156,908,269 13,515,372
(Decrease)/increase in cash and cash equivalents (39,102,724) (18,351,288)
Effect of exchange rate changes on cash held 1,405,239 1,885,152
Cash and cash equivalents at the beginning of the year 89,620,873 106,087,009
Cash and cash equivalents at the end of the year 51,923,388 89,620,873
  1. Printed “–”, read as nil: subtotal_arithmetic: cf.cash_from_investing.
Notes and alternative reported figures (15)
  1. “Finance costs paid”: mapping to a shared definition is uncertain. Finance costs paid in operating activities; borrowing costs are also printed in financing activities.
  2. “Distributions paid” is an issuer-specific line, not mapped to a shared definition: Cash distributions to shareholders, presented in operating activities.
  3. “Development and improvement of investment properties” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  4. “Acquisition of investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  5. “Acquisition of listed security investments” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  6. “Proceeds from disposal of listed equity security investments” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  7. “Acquisition of subsidiary – H2O, net of cash acquired” is an issuer-specific line, not mapped to a shared definition: Investing activities (2024).
  8. “acquired” is an issuer-specific line, not mapped to a shared definition: Investing activities (2024).
  9. “Acquisition of interest in equity-accounted associate” is an issuer-specific line, not mapped to a shared definition: Investing activities (2024).
  10. “Proceeds on disposal of investment property” is an issuer-specific line, not mapped to a shared definition: Investing activities (2024).
  11. “Receipts on loans from equity-accounted investments” is an issuer-specific line, not mapped to a shared definition: Investing activities.
  12. “Payments on loans to equity-accounted investments” is an issuer-specific line, not mapped to a shared definition: Investing activities (2024).
  13. “Issue of shares” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  14. “Purchase of treasury shares” is an issuer-specific line, not mapped to a shared definition: Financing activities.
  15. “Borrowing costs paid” is an issuer-specific line, not mapped to a shared definition: Financing activities: borrowing costs (note 19.3).

Per share and shares

Per share and shares. Columns: FY2025 — annual report (signed / final), as reported for the year; FY2024 — annual report (signed / final), comparative reported in the annual report for 2025.
Line (as printed) FY2025Annual reportreported for the yearFY2024Annual reportcomparative in FY2025 filing
Earnings / (loss) per share (per share)41 0.05012 0.03383
Profit / (loss) attributable to shareholders (EUR units)5 103,011,474 64,942,845
  1. Printed as 5.01 cents; value converted to EUR at 100 cents = 1 EUR.
  2. Printed as 3.38 cents; value converted to EUR at 100 cents = 1 EUR.
Notes and alternative reported figures (3)
  1. “Basic earnings per share (EUR cents)”: mapping to a shared definition is uncertain. Basic earnings per share from continuing operations (EUR cents); diluted is printed separately and differs (5.00; 2024: 3.37). No total EPS including discontinued operations is printed.
  2. Earnings / (loss) per share: printed as “Basic earnings per share (EUR cents)”.
  3. Profit / (loss) attributable to shareholders: printed as “Equity holders of the Company”.

Segments

Segment data not yet collected for this company in the pilot.

Dividends

Proposed or recommended, declared and paid are different events and are kept apart. A statement that no dividend was proposed does not mean none was paid.

No dividend statement or amount collected.

Sources

Each filing used on this page, newest period first. Dates are the document's own; the date we retrieved a file is shown separately and is never a publication date.

  • Lighthouse Properties p.l.c. Integrated Report 2025

    Year ended 31 December 2025 · Annual report · signed / final

    Audit: PricewaterhouseCoopers (Malta) (Christopher Cardona, Principal), unmodified opinion · signed

    Auditor's sign-off: Christopher Cardona, Principal, for and on behalf of PricewaterhouseCoopers

    Final status: Independent auditor's report on the Group and Parent Company financial statements signed by hand by Christopher Cardona, Principal, for and on behalf of PricewaterhouseCoopers, Qormi, Malta, dated 4 March 2026 (PDF p58, page image); statements authorised by the Board of Directors on 4 March 2026 and signed by the CEO (Justin Muller) and CFO (Jacobus van Biljon) (PDF p59, page image).

    Document date
    4 Mar 2026
    Auditor's report
    4 Mar 2026
    Board approval
    4 Mar 2026
    Retrieved by us
    8 Oct 2026 (not a publication date)
    Used for
    statement columns FY2025, FY2024
    Basis
    consolidated statements · EUR units (printed “EUR”)
    • Key audit matters: valuation of investment properties of the Group; investments in subsidiaries of the Parent Company (p56-p57).
    • The directory lists the issuer as 'Lighthouse Prop Plc'; the report prints 'Lighthouse Properties p.l.c. (formerly known as Lighthouse Capital Limited)', registration number C 100848, registered in Malta on 29 December 2021 (company information, PDF p104).
    • Earnings per share is printed only from continuing operations, in EUR cents (basic 5.01, 2024: 3.38; diluted 5.00, 2024: 3.37, p60); stored in euros with the printed figure and unit kept.
    • PDF pages are two-page spreads: p59 prints the statements of financial position (printed p116) and of comprehensive income (p117); p60 the attribution and EPS (p118) and the statements of cash flows (p119). Subtotals (non-current assets, current assets, total equity, total liabilities, non-current and current liabilities) are printed above their lines. No other comprehensive income is printed: total comprehensive income equals profit for the year.
    • Distributions paid to shareholders (48 335 205; 2024: 22 153 688) are presented within operating activities (p60).
    Technical details
    File
    107 pages, with a text layer
    SHA-256
    1b05ee23148d9a77711ff939bb7056b9a6430698dd3cf16841894e58df1ef121
    Entity as printed
    Lighthouse Properties p.l.c.
    Issuer copy
    retrieved 2026-10-08T18:52:44Z

Data notes

No figure-level notes beyond those in the tables.

Review status: every figure has been located on its cited source page in an AI-assisted source verification (matched to the document's text) (17 October 2026). Independent review is pending for every figure; automated checks and the AI-assisted verification are not independent review.

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