2\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 General information and\nstatement of compliance with International Financial Reporting\nStandards (IFRS) and going concern
\n2.1\u00a0\u00a0\u00a0\nGeneral information and statement of compliance with\nIFRS
\nMediterranean\nInvestments Holding p.l.c. (\u2018MIH\u2019 or the\n\u2018Company\u2019) is a public limited liability company and is\nincorporated and domiciled in Malta.\u00a0 The address of the\nCompany's registered office is 22, Europa Centre, Floriana FRN\n1400, Malta. The Company is 50% owned by CPHCL Company Limited of\n22, Europa Centre, Floriana, FRN 1400 and 50% owned by Kuwaiti\nNational Investment Holding Ltd of Al Khatem Tower, Unit 6, 5th\nFloor ADGM Square, Al Maryah Island, Abu Dhabi 000, United Arab\nEmirates.
\n\u00a0
\nThe financial statements\nof the Group and the Company have been prepared in accordance with\nIFRS as issued by the International Accounting Standards Board\n(IASB) and as adopted by the European Union, and in accordance with\nthe Companies Act, Cap. 386.
\n\u00a0
\nThe financial statements\nare presented in euro (\u20ac), which is also the functional\ncurrency of the Group and its subsidiaries. Amounts are rounded to\nthe nearest euro unless otherwise stated.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGeneralInformationAboutFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "JLhw2N-6Tk": { "value": "Mediterranean\nInvestments Holding p.l.c. (\u2018MIH\u2019 or the\n\u2018Company\u2019) is a public limited liability company and is\nincorporated and domiciled in Malta", "dimensions": { "concept": "ifrs-full:CountryOfIncorporation", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "G7A0-bcdWL": { "value": "domiciled in Malta", "dimensions": { "concept": "ifrs-full:DomicileOfEntity", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "iCGJ6cm9D_": { "value": "The financial statements\nof the Group and the Company have been prepared in accordance with\nIFRS as issued by the International Accounting Standards Board\n(IASB) and as adopted by the European Union, and in accordance with\nthe Companies Act, Cap. 386.", "dimensions": { "concept": "ifrs-full:StatementOfIFRSCompliance", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "xI03SOGxKS": { "value": "The financial statements\nof the Group and the Company have been prepared in accordance with\nIFRS as issued by the International Accounting Standards Board\n(IASB) and as adopted by the European Union, and in accordance with\nthe Companies Act, Cap. 386.", "dimensions": { "concept": "ifrs-full:DisclosureOfBasisOfPreparationOfFinancialStatementsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "YjQAa9rfAs": { "value": "2.2\u00a0\u00a0\u00a0\nGoing concern
\nThe going concern basis\nunderlying the preparation of these financial statements assumes\nthat the Group\u2019s and the\u00a0Company\u2019s\u00a0lenders\nand creditors will continue to provide the financial support\nnecessary to enable the Group and the\u00a0Company\u00a0to meet\ntheir debts as and when they fall due.
\n\u00a0
\nAt the reporting date\nthe Group had a working capital deficiency of\u00a0\u20ac0.92\nmillion (2024: \u20ac1.73 million) and the\u00a0Company\u00a0had an\nexcess working capital position of\u00a0\u20ac60.7 million\n(2024:\u00a0\u20ac29.8\u00a0million).
\n\u00a0
\nIn the case of the\nGroup, the working capital\u00a0deficiency\u00a0in 2025\nis\u00a0primarily due to\u00a0the\u00a0Group having diligently\ninvested excess cash in longer term financial assets to align with\nthe maturities of bonds in issue in 2027 and 2028. However, should\nthe need arise, such financial assets can be easily liquidated into\ncash in a short period of time. If these financial assets were\nclassified as current, the Group would be reporting a positive\nworking capital position of \u20ac6.5 million. To date of the\nfinancial statements, the group has significantly decreased the\nworking capital deficiency noted as at reporting date and is\nexpected to generate more positive cash flow in the coming\nmonths.
\n\u00a0
\nManagement has conducted\na thorough assessment of the Group's financial outlook, including\nexpected cash flows from operations for the twelve months ending 31\nDecember 2026, as well as anticipated cash outflows such as\ninterest payments and other financial obligations. This assessment,\nbased on the Group\u2019s actual performance and projected revenue\ngrowth, provides confidence in its ability to meet obligations and\ncontinue operations without interruption.
\n\u00a0
\nThe directors have taken\nand are still taking various measures to ensure that the Group and\nthe\u00a0Company\u00a0will continue to have adequate levels of cash\nto sustain its operations.
", "dimensions": { "concept": "ifrs-full:DisclosureOfGoingConcernExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "sny.fSZHyI": { "value": "3\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 New or revised\nStandards or Interpretations
\n3.1\u00a0\u00a0\u00a0\nNew standards adopted as at 1 January 2025
\nSome accounting\npronouncements which have become effective from 1 January 2025 and\nhave therefore been adopted do not have a significant impact on the\nGroup\u2019s and Company\u2019s financial results or\nposition.
\n\u00a0
\nAmendments that are\neffective for the first time in 2025 and could be applicable to the\ncompany are:
\n\u00a0
\n| \n \u2022 \n | \n\n Lack of Exchangeability\n(Amendments to IAS 21). \n | \n
\u00a0
\nThese amendments do not\nhave a significant impact on these financial statements and\ntherefore the disclosures have not been made.
\n\u00a0
\n3.2\u00a0\u00a0\u00a0\nStandards, amendments and interpretations to existing standards\nthat are not yet effective and have not been adopted early by the\nGroup and Company
\nAt the date of authorisation of\nthese financial statements, several new, but not yet effective,\nStandards and amendments to existing Standards, and Interpretations\nhave been published by the International Accounting Standard Board\n(IASB) or International Financial\nReporting Interpretations Committee (IFRIC). None of\nthese Standards or amendments to existing Standards have been\nadopted early by the Group and the Company and no\nInterpretations have been issued\nthat are applicable and need to be taken into consideration by the\nGroup and the Company at either reporting date.
\n\u00a0
\nStandards and amendments that are\nnot yet effective and have not been adopted early by the Group and\nthe Company include :
\n\u00a0
\n| \n \u2022 \n | \n\n Amendments to the Classification and\nMeasurement of Financial Instruments (Amendments to IFRS 9 and IFRS\n7) \n | \n
| \n \u2022 \n | \n\n Contracts Referencing\nNature-dependent Electricity (Amendments to IFRS 9 and IFRS\n7) \n | \n
| \n \u2022 \n | \n\n Annual Improvements to IFRS\nAccounting Standards\u2014Volume 11 \n | \n
| \n \u2022 \n | \n\n IFRS 19 \u2018Subsidiaries without\nPublic Accountability: Disclosures\u2019 \n | \n
| \n \u2022 \n | \n\n Amendments to IFRS 19\n\u2018Subsidiaries without Public Accountability:\nDisclosures\u2019 \n | \n
\u00a0
\nThese Standards and\namendments are not expected to have a significant impact on the\nfinancial statements in the period of initial application and\ntherefore no disclosures have been made.
\n\u00a0
\nManagement anticipates\nthat all relevant pronouncements will be adopted for the first\nperiod beginning on or after the effective date of the\npronouncement.
\n\u00a0
\nIn April 2024, the IASB\nissued IFRS 18, which replaces IAS 1 \u2018Presentation of\nFinancial Statements\u2019. The adoption of IFRS 18\n\u2018Presentation and Disclosure in financial statements\u2019,\neffective for periods commencing on or after 1 January 2027, is\nexpected to have a material impact on the presentation of the\nfinancial statements, and therefore relevant disclosures are\nincluded below.
\n\u00a0
\nAlthough IFRS 18\nincludes many of the requirements of IAS 1, it introduces new\nrequirements to better structure financial statements and to\nprovide more detailed and useful information to investors,\nincluding:
\n\u00a0
\n| \n \u2022 \n | \n\n two new subtotals defined in the\nstatement of profit or loss, namely (1) operating profit and\n(2)\u00a0profit or loss before financing and income\ntaxes\u00a0 \n | \n
| \n \u2022 \n | \n\n the classification of all income and\nexpenses within the statement of profit or loss in one of\nfive\u00a0categories\u00a0 \n | \n
| \n \u2022 \n | \n\n a new requirement\nto\u00a0disclose\u00a0performance measures defined by management,\nand\u00a0 \n | \n
| \n \u2022 \n | \n\n an improvement in the principles\nrelated to the aggregation and disaggregation of information\nin\u00a0the\u00a0financial statements and accompanying\nnotes. \n | \n
\u00a0
\nIFRS 18 will be applied\nretrospectively with specific transitional provisions.
\n\u00a0
\nThe Group and the\nCompany are currently working to identify all of the impacts that\nIFRS 18 will have on the primary financial statements and notes to\nthe financial statements.
\n\u00a0
\nOther new Standards,\namendments and Interpretations not adopted in the current year have\nnot been disclosed as they are not expected to have a material\nimpact on these financial statements.
", "dimensions": { "concept": "ifrs-full:DescriptionOfInitialApplicationOfStandardsOrInterpretations", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "UUlEoAXmtY": { "value": "4\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Material\naccounting policies
\nAn entity should\ndisclose its material accounting policies. Accounting policies are\nmaterial and must be disclosed if they can be reasonably expected\nto influence the decisions of users of the financial\nstatements.
\n\u00a0
\nThe Group and\nCompany\u2019s management have concluded that the disclosure of\nthe material accounting policies below are appropriate.
\n\u00a0
\n4.1\u00a0\u00a0\u00a0\nOverall considerations
\nThe consolidated and\nseparate financial statements have been prepared using the material\naccounting policies and measurement bases summarised below. The\naccounting policies have been consistently applied by the Group and\nthe Company and are consistent with those in previous\nyears.
\n\u00a0
\n4.2\n\u00a0\u00a0\u00a0 Presentation of financial statements
\nThe consolidated and\nseparate financial statements are presented in accordance with\nIAS\u00a01 Presentation
\nof Financial Statements (Revised 2007) .\u00a0 The Group and\nthe Company have elected to present the \u2018statement of total\ncomprehensive income\u2019 in one statement.
\u00a0
\n4.3\n\u00a0\u00a0\u00a0 Basis of consolidation
\nThe Group financial\nstatements consolidate those of the parent company and all of its\nsubsidiary undertakings drawn up to 31 December 2025. Subsidiaries\nare all entities over which the Group has power to control the\nfinancial and operating policies. MIH obtains and exercises control\nthrough voting rights. All subsidiaries have a reporting date of 31\nDecember.
\n\u00a0
\nIntra-group balances,\ntransactions and unrealised gains and losses on transactions\nbetween the group companies are eliminated. Where unrealised losses\non intra-group asset sales are reversed on consolidation, the\nunderlying asset is also tested for impairment from the Group\nperspective. Amounts reported in the financial statements of\nsubsidiaries have been adjusted where necessary to ensure\nconsistency with the accounting policies adopted by the\nGroup.
\n\u00a0
\nProfit or loss and other\ncomprehensive income of subsidiaries acquired or disposed of during\nthe year are recognised from the effective date of acquisition, or\nup to the effective date of disposal, as applicable.
\n\u00a0
\nNon-controlling\ninterests represent the portion of a subsidiary\u2019s profit or\nloss and net assets that is not held by the Group. The Group\nattributes total comprehensive income or loss of subsidiaries\nbetween the owner of the parent and the non-controlling interests\nbased on their respective ownership interests.
\n\u00a0
\nThe consolidated\nfinancial statements have been prepared from the financial\nstatements of the following companies comprising the\nGroup.
\n\u00a0
\n| \n Company \n | \n\n Nature of\nbusiness \n | \n\n %\nownership \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Mediterranean\nInvestments Holding p.l.c. \n | \n\n Holding\ncompany \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Palm City\nLtd \n | \n\n Owns, operates and\nrents a residential compound \n | \n\n 100% \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Palm Waterfront\nLtd \n | \n\n Invest, develop and\noperate real estate projects \n | \n\n 99.9% \n | \n
\u00a0
\n4.4\n\u00a0\u00a0\u00a0Revenue recognition and expenses
\nRevenue is mainly\nderived from leasing out the investment property owned by the\nsubsidiary, and the sales generated from the food and beverage\noutlets within the Palm City residential complex.
\n\u00a0
\nTo determine whether to\nrecognise revenue, the Group and Company follow a 5-step\nprocess:
\n\u00a0
\n| \n 1. \n | \n\n Identifying the contract\nwith a customer \n | \n
| \n 2. \n | \n\n Identifying the\nperformance obligations \n | \n
| \n 3. \n | \n\n Determining the\ntransaction price \n | \n
| \n 4. \n | \n\n Allocating the\ntransaction price to the performance obligations \n | \n
| \n 5. \n | \n\n Recognising revenue\nwhen/as performance obligation(s) are satisfied. \n | \n
\u00a0
\nThe Group and Company\noften enter into transactions involving a range of products and\nservices.\u00a0 In all cases, the total transaction price for a\ncontract is allocated amongst the various performance obligations\nbased on their relative stand-alone selling prices. The transaction\nprice for a contract excludes any amounts collected on behalf of\nthird parties.
\n\u00a0
\nRevenue is recognised\neither at a point in time or over time, when (or as) the Group and\nCompany satisfy performance obligations by transferring the\npromised goods or services to its customers.
\n\u00a0
\nThe Group recognises\ndeferred income for consideration received in respect of\nunsatisfied performance obligations and reports these amounts as\nother liabilities in the statements of financial position.\nSimilarly, if the Group satisfies a performance obligation before\nit receives the consideration, the Group recognises either a\ncontract asset or a receivable in its statements of financial\nposition, depending on whether something other than the passage of\ntime is required before the consideration is due.
\n\u00a0
\nRevenue in the\nCompany\u2019s financial statements consists of dividend income\nand management fees recharged to the subsidiaries. Dividends are\nrecognised at the time the right to receive payment is\nestablished.
\n\u00a0
\nInterest\nincome
\nInterest income is\naccrued on a time basis, by reference to the principle outstanding\nand at the effective interest\u00a0rate applicable, which is the\nrate that discounts the estimated future cash receipts through the\nexpected life of the financial asset to the asset\u2019s net\ncarrying amount.
\n\u00a0
\nOperating expenses and\nadministrative expenses are recognised in profit or loss upon\nutilisation of the service or as incurred.
\n\u00a0
\n4.5\u00a0\u00a0\u00a0\u00a0Borrowing costs
\nBorrowing costs\nprimarily comprise interest on the Group and Company\u2019s\nborrowings. Borrowing costs incurred on specific fixed asset\nprojects prior to their commissioning are capitalised as part of\nthe cost of the asset. The capitalisation rate used to determine\nthe amount of borrowing costs eligible for capitalisation is based\non the average rate of interest on bank borrowings. All other\nborrowing costs are amortised on an effective interest basis over\nthe life of the loan facility agreement.
\n\u00a0
\n4.6\u00a0\u00a0\u00a0\u00a0Employee benefits
\nContributions toward the state\npension in accordance with local legislation are recognised in the\nstatement of comprehensive income when\nthey are due.
\n\u00a0
\n4.7\u00a0\u00a0\u00a0\u00a0Foreign currency\ntranslations
\nFunctional and\npresentation currency
\nThe separate and\nconsolidated financial statements are presented in euro (\u20ac),\nwhich is also the functional currency of the parent\ncompany.
\n\u00a0
\nForeign currency\ntransactions and balances
\nForeign currency\ntransactions are translated into the functional currency of the\nrespective Group entity, using the exchange rates prevailing at the\ndates of the transactions (spot exchange rate). Foreign exchange\ngains and losses resulting from the settlement of such transactions\nand from the remeasurement of monetary items denominated in foreign\ncurrency at year-end exchange rates are recognised in profit or\nloss.
\n\u00a0
\nNon-monetary items are\nnot retranslated at year-end and are measured at historical cost\n(translated using the exchange rates at the transaction date),\nexcept for non-monetary items measured at fair value which are\ntranslated using the exchange rates at the date when fair value was\ndetermined.
\n\u00a0
\n4.8\u00a0\u00a0\u00a0\u00a0Income taxes
\nTax expense recognised\nin profit or loss comprises the sum of deferred tax and current tax\nnot recognised directly in the statement of total comprehensive\nincome or equity.
\n\u00a0
\nCurrent income tax\nassets and/or liabilities comprise those obligations to, or claims\nfrom, fiscal authorities relating to the current or prior reporting\nperiods, that are unpaid at the reporting date. Current tax is\npayable on taxable profit, which differs from profit or loss in the\nfinancial statements. Calculation of current tax is based on tax\nrates and tax laws that have been enacted or substantively enacted\nby the end of the reporting period and any adjustment to tax\npayable in respect of previous years.
\n\u00a0
\nDeferred income taxes\nare calculated using the liability method on temporary differences\nbetween the carrying amounts of assets and liabilities and their\ntax bases. However, deferred tax is not provided on the initial\nrecognition of goodwill, or on the initial recognition of an asset\nor liability unless the related transaction is a business\ncombination or affects tax or accounting profit. Deferred tax on\ntemporary differences associated with shares in subsidiaries and\njoint ventures is not provided if reversal of these temporary\ndifferences can be controlled by the Group and it is probable that\nreversal will not occur in the foreseeable future.
\n\u00a0
\nDeferred tax assets and\nliabilities are calculated, without discounting, at tax rates that\nare expected to apply to their respective period of realisation,\nprovided they are enacted or substantively enacted by the end of\nthe reporting period. Deferred tax liabilities are always provided\nfor in full.
\n\u00a0
\nDeferred tax assets are\nrecognised to the extent that it is probable that they will be able\nto be utilised against future taxable income.\u00a0 Deferred tax\nassets are reviewed at each reporting date and are reduced to the\nextent that it is no longer probable that the related tax benefit\nwill be realised.
\n\u00a0
\nChanges in deferred tax\nassets or liabilities are recognised as a component of tax income\nor expense in profit or loss, except where they relate to items\nthat are recognised in the statement of other comprehensive income\nor equity (such as the revaluation of land) in which case the\nrelated deferred tax is also recognised in the statement of other\ncomprehensive income or equity respectively.
\n\u00a0
\n4.9\u00a0\u00a0\u00a0\u00a0Property, plant and\nequipment
\nAll items of property,\nplant and equipment are initially recognised at acquisition cost\nincluding any costs directly attributable to bringing the assets to\nthe location and condition necessary for them to be capable of\noperating in the manner intended by management. They are\nsubsequently measured at acquisition cost or manufacturing cost\nless subsequent depreciation and impairment losses. The cost of\nassets in the course of construction includes the cost of\nmaterials, direct labour and an appropriate proportion of\noverheads, and, where applicable, interest costs incurred in\nfinancing, together with any other costs, to the extent that they\nare incurred prior to the commencement of the use of these\nassets.
\n\u00a0
\nDepreciation is\ncalculated, using the straight-line method, to write off the cost\nor valuation of assets over their estimated useful lives on the\nfollowing bases:
\n\u00a0
\n| \n \u00a0 \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nComputer\nequipment\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nComputer software \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nOffice furniture and equipment \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nMotor vehicles \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nTools \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nMachinery and equipment \n\u00a0 \n | \n\n % \n25 \n20 \n25 \n25 \n33 \n25 \n | \n
No depreciation is\nprovided on land and on assets in the course of construction and\nassets that are not yet brought into use.
\n\u00a0
\n4.10\u00a0\u00a0\u00a0\u00a0Impairment testing of tangible\nand intangible assets
\nFor the purposes of\nassessing impairment, assets are grouped at the lowest levels for\nwhich there are largely independent cash inflows (cash-generating\nunits).\u00a0 As a result, some assets are tested individually for\nimpairment and some are tested at cash-generating unit\nlevel.\u00a0
\n\u00a0
\nAll individual assets\nor cash-generating units are tested for impairment whenever events\nor changes in circumstances indicate that the carrying amount may\nnot be recoverable.
\n\u00a0
\nAn impairment loss is\nrecognised for the amount by which the asset\u2019s or\ncash-generating unit\u2019s carrying amount exceeds its\nrecoverable amount.\u00a0 The recoverable amount is the higher of\nits fair value less costs to sell and its value in use. To\ndetermine the value in use, the Group\u2019s management estimates\nexpected future cash flows from each cash-generating unit and\ndetermines a suitable interest rate in order to calculate the\npresent value of those cash flows.\u00a0 Discount factors are\ndetermined individually for each cash-generating unit and reflect\ntheir respective risk profiles as assessed by the Group\u2019s\nmanagement.
\n\u00a0
\nImpairment losses are\nrecognised in the profit or loss. Impairment losses for\ncash-generating units are charged pro rata to the assets in the\ncash-generating unit.\u00a0 All assets are subsequently reassessed\nfor indications that an impairment loss previously recognised may\nno longer exist.\u00a0 An impairment charge that has been\nrecognised is reversed if the cash-generating unit\u2019s\nrecoverable amount exceeds its carrying amount. An impairment loss\nis reversed only to the extent that the asset\u2019s carrying\namount does not exceed the carrying amount that would have been\ndetermined, net of depreciation or amortisation, if no impairment\nloss had been recognised.
\n\u00a0
\n4.11\u00a0\u00a0\u00a0\u00a0Leased assets
\nThe Group as a\nlessee
\nThe Group considers\nwhether a contract is, or contains a lease. A lease is defined as\n\u2018a contract, or part of a contract, that conveys the right to\nuse an asset (the underlying asset) for a period of time in\nexchange for consideration\u2019. To apply this definition, the\nGroup assesses whether the contract meets three key evaluations\nwhich are whether:
\n\u00a0
\n| \n \u2022 \n | \n\n the contract contains\nan identified asset, which is either explicitly identified in the\ncontract or implicitly specified by being identified at the time\nthe asset is made available to the Group; \n | \n
| \n \u2022 \n | \n\n the Group has the right\nto obtain substantially all of the economic benefits from use of\nthe identified asset throughout the period of use, considering its\nrights within the defined scope of the contract; \n | \n
| \n \u2022 \n | \n\n the Group has the right\nto direct the use of the identified asset throughout the period of\nuse.\u00a0 The Group assesses whether it has the right to direct\n\u2018how and for what purpose\u2019 the asset is used throughout\nthe period of use. \n | \n
\u00a0
\nMeasurement and\nrecognition of leases as a lessee
\nAt lease commencement\ndate, the Group recognises a right-of-use asset and a lease\nliability on the statement of financial position. The right-of-use\nasset is measured at cost, which is made up of the initial\nmeasurement of the lease liability, any initial direct costs\nincurred by the Group, an estimate of any costs to dismantle and\nremove the asset at the end of the lease, and any lease payments\nmade in advance of the commencement date (net of any incentives\nreceived).
\n\u00a0
\nThe Group depreciates\nthe right-of-use asset on a straight-line basis from the lease\ncommencement date to the earlier of the end of the useful life of\nthe right-of-use asset or the end of the lease term. The Group also\nassesses the right-of-use asset for impairment when such indicators\nexist.
\n\u00a0
\nAt lease commencement\ndate, the Group measures the lease liability at the present value\nof the lease payments unpaid at that date, discounted using the\ninterest rate implicit in the lease if that rate is readily\navailable or the Group\u2019s incremental borrowing\nrate.
\n\u00a0
\nLease payments included\nin the measurement of the lease liability are made up of fixed\npayments (including in substance fixed), variable payments based on\nan index or rate, amounts expected to be payable under a residual\nvalue guarantee and payments arising from options reasonably\ncertain to be exercised.
\n\u00a0
\nSubsequent to initial\nmeasurement, the liability will be reduced by lease payments that\nare allocated between repayments of principal and finance\ncosts.
\n\u00a0
\nThe lease liability is\nremeasured to reflect any reassessment or modification, or if there\nare changes in in-substance fixed payments. When the corresponding\nadjustment is reflected in the right-of-use asset, or profit and\nloss if the right-of-use asset is already reduced to\nzero.
\n\u00a0
\nOn the statement of\nfinancial position, right-of-use asset has been included in\nproperty, plant and equipment and lease liabilities disclosed\nseparately.
\n\u00a0
\nThe Group has elected\nnot to recognise right-of-use assets and lease liabilities for\nshort-term leases or for leases of low value assets. Payments made\nunder such leases are expensed on a straight-line basis.
\n\u00a0
\nThe Group as a\nlessor
\nAs a lessor, the Group\nclassifies its leases as either operating or finance\nleases.
\n\u00a0
\nThe Group assessed\nwhether it transfers substantially all the risks and rewards of\nownership. Those assets that do not transfer substantially all the\nrisks and rewards are classified as operating leases.
\n\u00a0
\nRental income is\naccounted for on a straight-line basis over the lease term and is\nincluded in revenue due to its operating nature.
\n\u00a0
\n4.12\u00a0\u00a0\u00a0\nInvestment property
\nInvestment property is\nproperty held to earn rentals and/or for capital appreciation and\nis accounted for using the fair value model.
\n\u00a0
\nInvestment property is\nrevalued annually and is included in the statement of financial\nposition at its fair value. This is determined by the directors\nbased either on management\u2019s estimates of expected future\ncash flows or market values. When based on management\u2019s\nestimates of future cash flows, the value of the property is\ndetermined by applying a suitable discount rate.
\n\u00a0
\nAny gain or loss\nresulting from either a change in the fair value or the sale of an\ninvestment property is immediately recognised in profit or loss\nwithin \u2018fair value gain on investment\nproperty\u2019.
\n\u00a0
\nRental income and\noperating expenses from investment property are reported within\n\u2018revenue\u2019 and \u2018operating\nexpenses\u2019.
\n\u00a0
\n4.13\u00a0\u00a0\u00a0\nInvestment in subsidiaries
\nInvestment in\nsubsidiaries is included in the Company\u2019s financial\nstatements at fair value (refer to note 4.14).
\n\u00a0
\n4.14\u00a0\n\u00a0\u00a0Investment in associates
\nAssociates are those\nentities over which the Group is able to exert significant\ninfluence but which are neither subsidiaries nor joint ventures.\nInvestments in associate are initially recognised at cost and\nsubsequently accounted for using the equity method. Any goodwill or\nfair value adjustment attributable to the Group\u2019s share in\nthe associate is not recognised separately and is included in the\namount recognised as investment in associates.
\n\u00a0
\nThe carrying amount of\nthe investments in associate is increased or decreased to recognise\nthe Group\u2019s share of the profit or loss and other\ncomprehensive income of the associate. These changes include\nsubsequent depreciation, amortisation or impairment of the fair\nvalue adjustment of assets and liabilities.
\n\u00a0
\nUnrealised gains and\nlosses on transactions between the Group and its associates are\neliminated to the extent of the Group\u2019s interest in those\nentities. Where unrealised losses are eliminated, the underlying\nasset is also tested for impairment.
\n\u00a0
\nAmounts reported in the\nfinancial statements of associates have been adjusted where\nnecessary to ensure consistency with the accounting policies of the\nGroup.
\n\u00a0
\n4.15\u00a0\n\u00a0\u00a0Financial instruments
\nRecognition\nand derecognition
\nFinancial assets and\nfinancial liabilities are recognised when the Group and the Company\nbecome a party to the contractual provisions of the financial\ninstrument.
\n\u00a0
\nFinancial assets are\nderecognised when the contractual rights to the cash flows from the\nfinancial asset expire, or when the financial asset and all\nsubstantial risks and rewards are transferred. A financial\nliability is derecognised when it is extinguished, discharged,\ncancelled or expires.
\n\u00a0
\nClassification and\ninitial measurement of financial assets
\nExcept for those trade\nreceivables that do not contain a significant financing component\nand are measured at the transaction price in accordance with IFRS\n15, all financial assets are initially measured at fair value\nadjusted for transaction costs (where applicable).
\n\u00a0
\nFinancial assets are\nclassified into the following categories:
\n| \n \u2022 \n | \n\n amortised\ncost \n | \n
| \n \u2022 \n | \n\n fair value through\nprofit or loss (FVTPL); and/or \n | \n
| \n \u2022 \n | \n\n fair value through other\ncomprehensive income (FVOCI). \n | \n
\u00a0
\nThe classification is\ndetermined by both:
\n| \n \u2022 \n | \n\n the entity\u2019s\nbusiness model for managing the financial asset; and \n | \n
| \n \u2022 \n | \n\n the contractual cash\nflow characteristics of the financial asset. \n | \n
\u00a0
\nAll income and expenses\nrelating to financial assets that are recognised in profit or loss\nare presented within \u2018finance costs\u2019 or \u2018finance\nincome\u2019, except for impairment of trade receivables which is\npresented in \u2018administrative expenses\u2019.
\n\u00a0
\nSubsequent measurement\nof financial assets
\nFinancial assets at\namortised cost
\nFinancial assets are\nmeasured at amortised cost if the assets meet the following\nconditions (and are not designated as FVTPL):
\n\u00a0
\n| \n \u2022 \n | \n\n they are held within a\nbusiness model whose objective is to hold the financial assets and\ncollect its contractual cash flows; and \n | \n
| \n \u2022 \n | \n\n the contractual terms of\nthe financial assets give rise to cash flows that are solely\npayments of principal and interest on the principal amount\noutstanding. \n | \n
After initial\nrecognition, these are measured at amortised cost using the\neffective interest method. Discounting is omitted where the effect\nof discounting is immaterial.\u00a0 The Group\u2019s and the\nCompany\u2019s cash and cash equivalents, and trade and most other\nreceivables fall into this category of financial\ninstruments.
\n\u00a0
\nFinancial assets at\nFVOCI
\nThe Group and the\nCompany accounts for financial assets at FVOCI if the assets meet\nthe following conditions:
\n\u00a0
\n| \n \u2022 \n | \n\n they are held within a\nbusiness model whose objective is to hold to collect the associated\ncash flows and sell; and \n | \n
| \n \u2022 \n | \n\n the contractual terms\nof the financial assets give rise to cash flows that are solely\npayments of principal and interest on the principal amount\noutstanding. \n | \n
The Company made the\nirrevocable election to account for the investment in subsidiaries\nand associate at FVOCI.
\n\u00a0
\nAny gains or losses\nrecognised in other comprehensive income will be recycled upon\nderecognition of the asset.
\n\u00a0
\nFinancial assets at\nFVTPL
\nFinancial assets held\nwithin a different business model other than \u2018hold to\ncollect\u2019 or \u2018hold to collect and sell\u2019 are\ncategorised at FVTPL. Further, irrespective of the business model\nused, financial assets whose contractual cash flows are not solely\npayments of principal and interest are accounted for at\nFVTPL.
\n\u00a0
\nImpairment of financial\nassets
\nIFRS 9\u2019s\nimpairment requirements use more forward-looking information to\nrecognise expected credit losses \u2013 the \u2018expected credit\nloss (ECL) model\u2019.\u00a0 Instruments within the scope of the\nnew requirements included FVOCI, trade receivables and contract\nassets recognised and measured under IFRS 15.
\n\u00a0
\nRecognition of credit\nlosses is no longer dependent on the Group and Company first\nidentifying a credit loss event. Instead the Group and Company\nconsider a broad range of information when assessing credit risk\nand measuring expected credit losses, including past events,\ncurrent conditions, reasonable and supportable forecasts that\naffect the expected collectability of the future cash flows of the\ninstrument.
\n\u00a0
\nIn applying this\nforward-looking approach, a distinction is made between:
\n\u00a0
\n| \n \u2022 \n | \n\n financial instruments\nthat have not deteriorated significantly in credit quality since\ninitial recognition or that have low credit risk (\u2018Stage 1);\nand \n | \n
| \n \u2022 \n | \n\n financial instruments\nthat have deteriorated significantly in credit quality since\ninitial recognition and whose credit risk is not low (\u2018Stage\n2\u2019). \n | \n
\u00a0
\n\u2018Stage 3\u2019\nwould cover financial assets that have objective evidence of\nimpairment at the reporting date.
\n\u00a0
\n\u201812-month ECL are\nrecognised for the first category while \u2018lifetime ECL\u2019\nare recognised for the second category.
\n\u00a0
\nMeasurement of the ECL\nis determined by a probability-weighted estimate of credit losses\nover the expected life of the financial instrument.
\n\u00a0
\nTrade and other\nreceivables
\nThe Group and Company\nmake use of a simplified approach in accounting for trade and other\nreceivables as well as contract assets and record the loss\nallowance as lifetime expected credit losses. These are the\nexpected shortfalls in contractual cash flows, considering the\npotential for default at any point during the life of the financial\ninstrument. In calculating, the Group and Company use their\nhistorical experience, external indicators and forward-looking\ninformation to calculate the expected credit losses using a\nprovision matrix.
\n\u00a0
\nThe Group and Company\nassess impairment of trade receivables on a collective basis as\nthey possess shared credit risk characteristics.\u00a0 Refer to\nnote 27.1 for a detailed analysis of how the impairment\nrequirements of IFRS 9 are applied.
\n\u00a0
\nClassification and\nmeasurement of financial liabilities
\nThe Group and the\nCompany\u2019s financial liabilities include bonds and most trade\nand other payables.
\n\u00a0
\nFinancial liabilities\nare initially measured at fair value, and, where applicable,\nadjusted for transaction costs unless the Group and Company\ndesignates a financial liability at FVTPL.
\n\u00a0
\nSubsequently, financial\nliabilities are measured at amortised cost using the effective\ninterest method except for derivatives and financial liabilities\ndesignated at FVTPL, which are carried subsequently at fair value\nwith gains or losses recognised in profit or loss (other than\nderivative financial instruments that are designated and effective\nas hedging instruments).
\n\u00a0
\nAll interest-related\ncharges and, if applicable, changes in an instrument\u2019s fair\nvalue that are reported in profit or loss are included within\n\u2018finance costs\u2019 or \u2018finance\nincome\u2019.
\n\u00a0
\n4. 16\u00a0\u00a0\u00a0 Inventories
\nInventories are stated\nat the lower of cost and net realisable value. Net realisable value\nis the estimated selling price in the ordinary course of business\nless any applicable selling expenses.
\n\u00a0
\nThe cost of inventories\nis based on the weighted average principle and includes expenditure\nincurred in acquiring the inventories and bringing them to their\nexisting location and condition.\u00a0
\n\u00a0
\n4.17\u00a0\u00a0\u00a0\nCash and cash equivalents
\nFor the purposes of the\nstatements of cash flows, cash and cash equivalents comprise cash\nin hand and demand deposits.
\n\u00a0
\n4.18\n\u00a0\u00a0\u00a0Equity
\nShare capital\nrepresents the nominal (par) value of shares that have been\nissued.
\n\u00a0
\nOther components of\nequity include the following:
\n\u00a0
\n| \n \u2022 \n | \n\n gains and losses from\nthe revaluation of investment in subsidiaries and investment in\nassociate; and \n | \n
| \n \u2022 \n | \n\n Foreign currency\ntranslating in differences arising from the translation of\nfinancial statements of the Group\u2019s investment in\nassociate. \n | \n
\u00a0
\nRetained earnings\nincludes all current and prior period retained profits.
\n\u00a0
\nDividend distributions\npayable to equity shareholders are included in other liabilities\nwhen the dividends have been approved in a general meeting prior to\nthe reporting date.
\n\u00a0
\nAll transactions with\nowners are recorded separately within equity.
\n\u00a0
\n4.19\u00a0\u00a0\u00a0\nProvisions, contingent liabilities and contingent assets
\nProvisions are\nrecognised when present obligations as a result of a past event\nwill probably lead to an outflow of economic resources from the\nGroup and Company and amounts can be estimated reliably. Timing or\namount of the outflow may still be uncertain. A present obligation\narises from the presence of a legal or constructive commitment that\nhas resulted from past events. Restructuring provisions are\nrecognised only if a detailed formal plan for the restructuring has\nbeen developed and implemented, or management has at least\nannounced the plan's main features to those affected by it.\nProvisions are not recognised for future operating\nlosses.
\n\u00a0
\nProvisions are measured\nat the estimated expenditure required to settle the present\nobligation, based on the most reliable evidence available at the\nreporting date, including the risks and uncertainties associated\nwith the present obligation. Where there are a number of similar\nobligations, the likelihood that an outflow will be required in\nsettlement is determined by considering the class of obligations as\na whole.\u00a0 Where the time value of money is material,\nprovisions are discounted to their present values.
\n\u00a0
\nAny reimbursement that\nthe Group and the Company can be virtually certain to collect from\na third party with respect to the obligation is recognised as a\nseparate asset. However, this asset may not exceed the amount of\nthe related provision.
\n\u00a0
\nAll provisions are\nreviewed at each reporting date and adjusted to reflect the current\nbest estimate.
\n\u00a0
\nIn those cases where\nthe possible outflow of economic resources as a result of present\nobligations is considered improbable or remote, no liability is\nrecognised.
\n\u00a0
\n4.20\u00a0\u00a0\n\u00a0Significant management judgement in applying accounting\npolicies and estimation uncertainty
\nThe preparation of\nconsolidated financial statements in conformity with IFRS requires\nmanagement to make judgements, estimates and assumptions that\naffect the application of policies and reported amounts of assets,\nliabilities, income and expenses.\u00a0 Use of available\ninformation and application of judgement are inherent in making\nestimates. Actual results in the future could differ from such\nestimates and the differences may be material to the financial\nstatements. The estimates and underlying assumptions are reviewed\non an ongoing basis. Revisions to accounting estimates are\nrecognised in the period in which the estimate is revised if the\nrevision affects only that period, or in the period of revision and\nfuture periods if the revision affects both current and future\nperiods.
\n\u00a0
\nThe fair value of\ninvestment property is determined by using valuation\ntechniques.\u00a0 Further details of the judgements and assumptions\nmade are disclosed in note 13.
\n\u00a0
\nThis note highlights\ninformation about the fair value estimation of the investment\nproperty.
\n\u00a0
\nIn the opinion of the\ndirectors, the accounting estimates and judgements made in the\ncourse of preparing these financial statements are, with the\nexception of those described hereunder, not difficult, subjective\nor complex to a degree which would warrant their description as\ncritical in terms of the requirements of IAS 1.
\n\u00a0
\n(a) Recognition of\ncontract revenue over time or at a point in time
\n\u00a0
\nFor some of the\nGroup\u2019s contracts with customers significant judgement is\nrequired to assess whether control of the related performance\nobligation(s) transfers to the customer over time or at a point in\ntime in accordance with IFRS 15. Specifically, for contracts that\ninvolve developing a customer-specific asset with no alternative\nuse to the Group, judgement is needed to determine whether the\nGroup is entitled to payment for its performance throughout the\ncontract period if the customer sought to cancel the contract. This\nrelates mainly to residential and commercial leases which represent\n\u20ac32,343,057 (2024: \u20ac29,769,240) of the Group\u2019s\nrevenue.
\n\u00a0
\nThe Group assesses if\nit has a right to payment for its performance throughout the\ncontract period and recognises revenue over time.
\n\u00a0
\nFor other revenue\nsources, the Group assesses that the performance obligations are\nsatisfied at a point in time.
\n\u00a0
\n(b)\n Income\ntaxes
\nIn order to establish\nthe taxation provisions, management exercises significant judgement\nin view of the fact that the Group and the Company operate in\nvarious jurisdictions and as a result there are diverse\ntransactions for which the ultimate tax determination is somewhat\nuncertain.\u00a0 In the event that the amount of actual tax due\ndiffers from the original amounts provided for, such variances will\nhave an impact on the taxation charges for future\nperiods.
\n\u00a0
\n(c) Useful lives of\ndepreciable assets
\n\u00a0
\nManagement reviews the\nuseful lives of depreciable assets at each reporting date, based on\nthe expected utility of the assets to the Group and Company.\u00a0\nThe carrying amounts are analysed in note 12.\u00a0 Actual results,\nhowever, may vary due to technical obsolescence, particularly\nrelating to software and IT equipment.
\n\u00a0
\n(d) Fair value of\ninvestment property
\n\u00a0
\nAt each reporting date\nthe investment property is revalued by the directors based either\non management\u2019s estimates of expected future cash flows or\nmarket values.\u00a0 The Group has not recognised a fair value\nuplift to the investment property during the year under\nreview.\u00a0 When based on management\u2019s estimates of\nexpected future cash flows the value of each property is determined\nby applying a suitable discount rate.
\n\u00a0
\nThe Group\u2019s\ninvestment property is situated in Libya which is still\nexperiencing prolonged political uncertainty.
\n\u00a0
\nThe estimated fair\nvalues were arrived at using projected cash flows from the\noperation of the investment property. On the basis of the valuation\ncarried out by the directors, no uplift was recognised in these\nfinancial statements. The uncertainty which is still prevailing in\nLibya and the significant judgements surrounding the valuation of\nthe investment property situated in that country render the\nvaluation of any uplift of the property extremely difficult and\njudgmental (see note 13).\u00a0
\n\u00a0
\n(e)\u00a0Impairment of\ntrade and other receivables
\n\u00a0
\nThe Group applies the\nsimplified model of recognising lifetime expected credit losses for\nall trade receivables.\u00a0 In measuring the expected credit\nlosses, the trade receivables are assessed on a collective basis as\nthey possess shared credit characteristics.\u00a0 They have been\ngrouped according to the past due dates and geographical\nlocation.\u00a0 The Group has concluded that the expected credit\nlosses for trade receivables is not material (see note\n18).
\n\u00a0
\n(f)\nInventories
\n\u00a0
\nManagement estimates the\nnet realisable values of inventories, taking into account the most\nreliable evidence available at each reporting date. The future\nrealisation of these inventories may be affected by expiry,\nobsolescence, future technology or other market-driven changes that\nmay reduce future selling prices.
\n\u00a0
\n4.21\u00a0\n\u00a0Segment reporting
\nThe standard requires a\n\u2018management approach\u2019 under which segment information\nis presented on the same basis as that used for internal reporting\npurposes.\u00a0 The chief operating maker, who is responsible for\nallocating resources and assessing performance of the operating\nsegments, has been identified as the Group board of\ndirectors.
\n\u00a0
\nAn operating segment is\na group of assets and operations engaged in providing services that\nare subject to risks and returns that are different from that of\nother segments.\u00a0 The operating segments can be classified as\ninvestment property rental, income from food and beverages and\nothers.
\n\u00a0
\nThe Group is engaged in\nthe ownership and leasing of its investment property. The\nGroup\u2019s country of domicile is Malta and the operation is in\nLibya.
\n\u00a0
\nThe board of directors\nassesses performance based on the measure of earnings before\ninterest, tax, depreciation and amortisation (EBITDA).
\n\u00a0
\nThe Group is not\nrequired to report a measure of total assets and liabilities for\neach reportable segment since such amounts are not regularly\nprovided to the chief operating decision maker.\u00a0 However, in\naccordance with IFRS 8, non-current assets (other than financial\ninstruments and deferred tax assets) are divided into geographical\nareas in note 5.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMaterialAccountingPolicyInformationExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "OhaH8OEQhi": { "value": "4.3\n\u00a0\u00a0\u00a0 Basis of consolidation
\nThe Group financial\nstatements consolidate those of the parent company and all of its\nsubsidiary undertakings drawn up to 31 December 2025. Subsidiaries\nare all entities over which the Group has power to control the\nfinancial and operating policies. MIH obtains and exercises control\nthrough voting rights. All subsidiaries have a reporting date of 31\nDecember.
\n\u00a0
\nIntra-group balances,\ntransactions and unrealised gains and losses on transactions\nbetween the group companies are eliminated. Where unrealised losses\non intra-group asset sales are reversed on consolidation, the\nunderlying asset is also tested for impairment from the Group\nperspective. Amounts reported in the financial statements of\nsubsidiaries have been adjusted where necessary to ensure\nconsistency with the accounting policies adopted by the\nGroup.
\n\u00a0
\nProfit or loss and other\ncomprehensive income of subsidiaries acquired or disposed of during\nthe year are recognised from the effective date of acquisition, or\nup to the effective date of disposal, as applicable.
\n\u00a0
\nNon-controlling\ninterests represent the portion of a subsidiary\u2019s profit or\nloss and net assets that is not held by the Group. The Group\nattributes total comprehensive income or loss of subsidiaries\nbetween the owner of the parent and the non-controlling interests\nbased on their respective ownership interests.
\n\u00a0
\nThe consolidated\nfinancial statements have been prepared from the financial\nstatements of the following companies comprising the\nGroup.
\n\u00a0
\n| \n Company \n | \n\n Nature of\nbusiness \n | \n\n %\nownership \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Mediterranean\nInvestments Holding p.l.c. \n | \n\n Holding\ncompany \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Palm City\nLtd \n | \n\n Owns, operates and\nrents a residential compound \n | \n\n 100% \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Palm Waterfront\nLtd \n | \n\n Invest, develop and\noperate real estate projects \n | \n\n 99.9% \n | \n
4.4\n\u00a0\u00a0\u00a0Revenue recognition and expenses
\nRevenue is mainly\nderived from leasing out the investment property owned by the\nsubsidiary, and the sales generated from the food and beverage\noutlets within the Palm City residential complex.
\n\u00a0
\nTo determine whether to\nrecognise revenue, the Group and Company follow a 5-step\nprocess:
\n\u00a0
\n| \n 1. \n | \n\n Identifying the contract\nwith a customer \n | \n
| \n 2. \n | \n\n Identifying the\nperformance obligations \n | \n
| \n 3. \n | \n\n Determining the\ntransaction price \n | \n
| \n 4. \n | \n\n Allocating the\ntransaction price to the performance obligations \n | \n
| \n 5. \n | \n\n Recognising revenue\nwhen/as performance obligation(s) are satisfied. \n | \n
\u00a0
\nThe Group and Company\noften enter into transactions involving a range of products and\nservices.\u00a0 In all cases, the total transaction price for a\ncontract is allocated amongst the various performance obligations\nbased on their relative stand-alone selling prices. The transaction\nprice for a contract excludes any amounts collected on behalf of\nthird parties.
\n\u00a0
\nRevenue is recognised\neither at a point in time or over time, when (or as) the Group and\nCompany satisfy performance obligations by transferring the\npromised goods or services to its customers.
\n\u00a0
\nThe Group recognises\ndeferred income for consideration received in respect of\nunsatisfied performance obligations and reports these amounts as\nother liabilities in the statements of financial position.\nSimilarly, if the Group satisfies a performance obligation before\nit receives the consideration, the Group recognises either a\ncontract asset or a receivable in its statements of financial\nposition, depending on whether something other than the passage of\ntime is required before the consideration is due.
\n\u00a0
\nRevenue in the\nCompany\u2019s financial statements consists of dividend income\nand management fees recharged to the subsidiaries. Dividends are\nrecognised at the time the right to receive payment is\nestablished.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForRecognitionOfRevenue", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "ZlsaF8jyB.": { "value": "Interest\nincome
\nInterest income is\naccrued on a time basis, by reference to the principle outstanding\nand at the effective interest\u00a0rate applicable, which is the\nrate that discounts the estimated future cash receipts through the\nexpected life of the financial asset to the asset\u2019s net\ncarrying amount.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInterestIncomeAndExpenseExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fIxD57S_4U": { "value": "Operating expenses and\nadministrative expenses are recognised in profit or loss upon\nutilisation of the service or as incurred", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForExpensesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "iLA-KszISu": { "value": "4.5\u00a0\u00a0\u00a0\u00a0Borrowing costs
\nBorrowing costs\nprimarily comprise interest on the Group and Company\u2019s\nborrowings. Borrowing costs incurred on specific fixed asset\nprojects prior to their commissioning are capitalised as part of\nthe cost of the asset. The capitalisation rate used to determine\nthe amount of borrowing costs eligible for capitalisation is based\non the average rate of interest on bank borrowings. All other\nborrowing costs are amortised on an effective interest basis over\nthe life of the loan facility agreement.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForBorrowingCostsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "rB_CMVlvrD": { "value": "4.6\u00a0\u00a0\u00a0\u00a0Employee benefits
\nContributions toward the state\npension in accordance with local legislation are recognised in the\nstatement of comprehensive income when\nthey are due.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "MVxV9gF4Vb": { "value": "4.7\u00a0\u00a0\u00a0\u00a0Foreign currency\ntranslations
\nFunctional and\npresentation currency
\nThe separate and\nconsolidated financial statements are presented in euro (\u20ac),\nwhich is also the functional currency of the parent\ncompany.
\n\u00a0
\nForeign currency\ntransactions and balances
\nForeign currency\ntransactions are translated into the functional currency of the\nrespective Group entity, using the exchange rates prevailing at the\ndates of the transactions (spot exchange rate). Foreign exchange\ngains and losses resulting from the settlement of such transactions\nand from the remeasurement of monetary items denominated in foreign\ncurrency at year-end exchange rates are recognised in profit or\nloss.
\n\u00a0
\nNon-monetary items are\nnot retranslated at year-end and are measured at historical cost\n(translated using the exchange rates at the transaction date),\nexcept for non-monetary items measured at fair value which are\ntranslated using the exchange rates at the date when fair value was\ndetermined.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForForeignCurrencyTranslationExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "r0ib5H6f7k": { "value": "4.8\u00a0\u00a0\u00a0\u00a0Income taxes
\nTax expense recognised\nin profit or loss comprises the sum of deferred tax and current tax\nnot recognised directly in the statement of total comprehensive\nincome or equity.
\n\u00a0
\nCurrent income tax\nassets and/or liabilities comprise those obligations to, or claims\nfrom, fiscal authorities relating to the current or prior reporting\nperiods, that are unpaid at the reporting date. Current tax is\npayable on taxable profit, which differs from profit or loss in the\nfinancial statements. Calculation of current tax is based on tax\nrates and tax laws that have been enacted or substantively enacted\nby the end of the reporting period and any adjustment to tax\npayable in respect of previous years.
\n\u00a0
\nDeferred income taxes\nare calculated using the liability method on temporary differences\nbetween the carrying amounts of assets and liabilities and their\ntax bases. However, deferred tax is not provided on the initial\nrecognition of goodwill, or on the initial recognition of an asset\nor liability unless the related transaction is a business\ncombination or affects tax or accounting profit. Deferred tax on\ntemporary differences associated with shares in subsidiaries and\njoint ventures is not provided if reversal of these temporary\ndifferences can be controlled by the Group and it is probable that\nreversal will not occur in the foreseeable future.
\n\u00a0
\nDeferred tax assets and\nliabilities are calculated, without discounting, at tax rates that\nare expected to apply to their respective period of realisation,\nprovided they are enacted or substantively enacted by the end of\nthe reporting period. Deferred tax liabilities are always provided\nfor in full.
\n\u00a0
\nDeferred tax assets are\nrecognised to the extent that it is probable that they will be able\nto be utilised against future taxable income.\u00a0 Deferred tax\nassets are reviewed at each reporting date and are reduced to the\nextent that it is no longer probable that the related tax benefit\nwill be realised.
\n\u00a0
\nChanges in deferred tax\nassets or liabilities are recognised as a component of tax income\nor expense in profit or loss, except where they relate to items\nthat are recognised in the statement of other comprehensive income\nor equity (such as the revaluation of land) in which case the\nrelated deferred tax is also recognised in the statement of other\ncomprehensive income or equity respectively.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "yIm1Da2JFT": { "value": "Income taxesDeferred income taxes\nare calculated using the liability method on temporary differences\nbetween the carrying amounts of assets and liabilities and their\ntax bases. However, deferred tax is not provided on the initial\nrecognition of goodwill, or on the initial recognition of an asset\nor liability unless the related transaction is a business\ncombination or affects tax or accounting profit. Deferred tax on\ntemporary differences associated with shares in subsidiaries and\njoint ventures is not provided if reversal of these temporary\ndifferences can be controlled by the Group and it is probable that\nreversal will not occur in the foreseeable future.
\n\u00a0
\nDeferred tax assets and\nliabilities are calculated, without discounting, at tax rates that\nare expected to apply to their respective period of realisation,\nprovided they are enacted or substantively enacted by the end of\nthe reporting period. Deferred tax liabilities are always provided\nfor in full.
\n\u00a0
\nDeferred tax assets are\nrecognised to the extent that it is probable that they will be able\nto be utilised against future taxable income.\u00a0 Deferred tax\nassets are reviewed at each reporting date and are reduced to the\nextent that it is no longer probable that the related tax benefit\nwill be realised.
\n\u00a0
\nChanges in deferred tax\nassets or liabilities are recognised as a component of tax income\nor expense in profit or loss, except where they relate to items\nthat are recognised in the statement of other comprehensive income\nor equity (such as the revaluation of land) in which case the\nrelated deferred tax is also recognised in the statement of other\ncomprehensive income or equity respectively.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForDeferredIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "QgXyvdPh42": { "value": "4.9\u00a0\u00a0\u00a0\u00a0Property, plant and\nequipment
\nAll items of property,\nplant and equipment are initially recognised at acquisition cost\nincluding any costs directly attributable to bringing the assets to\nthe location and condition necessary for them to be capable of\noperating in the manner intended by management. They are\nsubsequently measured at acquisition cost or manufacturing cost\nless subsequent depreciation and impairment losses. The cost of\nassets in the course of construction includes the cost of\nmaterials, direct labour and an appropriate proportion of\noverheads, and, where applicable, interest costs incurred in\nfinancing, together with any other costs, to the extent that they\nare incurred prior to the commencement of the use of these\nassets.
\n\u00a0
\nDepreciation is\ncalculated, using the straight-line method, to write off the cost\nor valuation of assets over their estimated useful lives on the\nfollowing bases:
\n\u00a0
\n| \n \u00a0 \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nComputer\nequipment\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nComputer software \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nOffice furniture and equipment \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nMotor vehicles \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nTools \n- \u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\nMachinery and equipment \n\u00a0 \n | \n\n % \n25 \n20 \n25 \n25 \n33 \n25 \n | \n
No depreciation is\nprovided on land and on assets in the course of construction and\nassets that are not yet brought into use.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "GT0QhFAZ7m": { "value": "4.10\u00a0\u00a0\u00a0\u00a0Impairment testing of tangible\nand intangible assets
\nFor the purposes of\nassessing impairment, assets are grouped at the lowest levels for\nwhich there are largely independent cash inflows (cash-generating\nunits).\u00a0 As a result, some assets are tested individually for\nimpairment and some are tested at cash-generating unit\nlevel.\u00a0
\n\u00a0
\nAll individual assets\nor cash-generating units are tested for impairment whenever events\nor changes in circumstances indicate that the carrying amount may\nnot be recoverable.
\n\u00a0
\nAn impairment loss is\nrecognised for the amount by which the asset\u2019s or\ncash-generating unit\u2019s carrying amount exceeds its\nrecoverable amount.\u00a0 The recoverable amount is the higher of\nits fair value less costs to sell and its value in use. To\ndetermine the value in use, the Group\u2019s management estimates\nexpected future cash flows from each cash-generating unit and\ndetermines a suitable interest rate in order to calculate the\npresent value of those cash flows.\u00a0 Discount factors are\ndetermined individually for each cash-generating unit and reflect\ntheir respective risk profiles as assessed by the Group\u2019s\nmanagement.
\n\u00a0
\nImpairment losses are\nrecognised in the profit or loss. Impairment losses for\ncash-generating units are charged pro rata to the assets in the\ncash-generating unit.\u00a0 All assets are subsequently reassessed\nfor indications that an impairment loss previously recognised may\nno longer exist.\u00a0 An impairment charge that has been\nrecognised is reversed if the cash-generating unit\u2019s\nrecoverable amount exceeds its carrying amount. An impairment loss\nis reversed only to the extent that the asset\u2019s carrying\namount does not exceed the carrying amount that would have been\ndetermined, net of depreciation or amortisation, if no impairment\nloss had been recognised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForImpairmentOfAssetsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "xnC4bJeMJy": { "value": "4.11\u00a0\u00a0\u00a0\u00a0Leased assets
\nThe Group as a\nlessee
\nThe Group considers\nwhether a contract is, or contains a lease. A lease is defined as\n\u2018a contract, or part of a contract, that conveys the right to\nuse an asset (the underlying asset) for a period of time in\nexchange for consideration\u2019. To apply this definition, the\nGroup assesses whether the contract meets three key evaluations\nwhich are whether:
\n\u00a0
\n| \n \u2022 \n | \n\n the contract contains\nan identified asset, which is either explicitly identified in the\ncontract or implicitly specified by being identified at the time\nthe asset is made available to the Group; \n | \n
| \n \u2022 \n | \n\n the Group has the right\nto obtain substantially all of the economic benefits from use of\nthe identified asset throughout the period of use, considering its\nrights within the defined scope of the contract; \n | \n
| \n \u2022 \n | \n\n the Group has the right\nto direct the use of the identified asset throughout the period of\nuse.\u00a0 The Group assesses whether it has the right to direct\n\u2018how and for what purpose\u2019 the asset is used throughout\nthe period of use. \n | \n
\u00a0
\nMeasurement and\nrecognition of leases as a lessee
\nAt lease commencement\ndate, the Group recognises a right-of-use asset and a lease\nliability on the statement of financial position. The right-of-use\nasset is measured at cost, which is made up of the initial\nmeasurement of the lease liability, any initial direct costs\nincurred by the Group, an estimate of any costs to dismantle and\nremove the asset at the end of the lease, and any lease payments\nmade in advance of the commencement date (net of any incentives\nreceived).
\n\u00a0
\nThe Group depreciates\nthe right-of-use asset on a straight-line basis from the lease\ncommencement date to the earlier of the end of the useful life of\nthe right-of-use asset or the end of the lease term. The Group also\nassesses the right-of-use asset for impairment when such indicators\nexist.
\n\u00a0
\nAt lease commencement\ndate, the Group measures the lease liability at the present value\nof the lease payments unpaid at that date, discounted using the\ninterest rate implicit in the lease if that rate is readily\navailable or the Group\u2019s incremental borrowing\nrate.
\n\u00a0
\nLease payments included\nin the measurement of the lease liability are made up of fixed\npayments (including in substance fixed), variable payments based on\nan index or rate, amounts expected to be payable under a residual\nvalue guarantee and payments arising from options reasonably\ncertain to be exercised.
\n\u00a0
\nSubsequent to initial\nmeasurement, the liability will be reduced by lease payments that\nare allocated between repayments of principal and finance\ncosts.
\n\u00a0
\nThe lease liability is\nremeasured to reflect any reassessment or modification, or if there\nare changes in in-substance fixed payments. When the corresponding\nadjustment is reflected in the right-of-use asset, or profit and\nloss if the right-of-use asset is already reduced to\nzero.
\n\u00a0
\nOn the statement of\nfinancial position, right-of-use asset has been included in\nproperty, plant and equipment and lease liabilities disclosed\nseparately.
\n\u00a0
\nThe Group has elected\nnot to recognise right-of-use assets and lease liabilities for\nshort-term leases or for leases of low value assets. Payments made\nunder such leases are expensed on a straight-line basis.
\n\u00a0
\nThe Group as a\nlessor
\nAs a lessor, the Group\nclassifies its leases as either operating or finance\nleases.
\n\u00a0
\nThe Group assessed\nwhether it transfers substantially all the risks and rewards of\nownership. Those assets that do not transfer substantially all the\nrisks and rewards are classified as operating leases.
\n\u00a0
\nRental income is\naccounted for on a straight-line basis over the lease term and is\nincluded in revenue due to its operating nature.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForLeasesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "W7S7QgeW94": { "value": "4.12\u00a0\u00a0\u00a0\nInvestment property
\nInvestment property is\nproperty held to earn rentals and/or for capital appreciation and\nis accounted for using the fair value model.
\n\u00a0
\nInvestment property is\nrevalued annually and is included in the statement of financial\nposition at its fair value. This is determined by the directors\nbased either on management\u2019s estimates of expected future\ncash flows or market values. When based on management\u2019s\nestimates of future cash flows, the value of the property is\ndetermined by applying a suitable discount rate.
\n\u00a0
\nAny gain or loss\nresulting from either a change in the fair value or the sale of an\ninvestment property is immediately recognised in profit or loss\nwithin \u2018fair value gain on investment\nproperty\u2019.
\n\u00a0
\nRental income and\noperating expenses from investment property are reported within\n\u2018revenue\u2019 and \u2018operating\nexpenses\u2019.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentPropertyExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "HU8b-09h8n": { "value": "4.13\u00a0\u00a0\u00a0\nInvestment in subsidiaries
\nInvestment in\nsubsidiaries is included in the Company\u2019s financial\nstatements at fair value (refer to note 4.14).
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "F0AUXJL.Hb": { "value": "4.14\u00a0\n\u00a0\u00a0Investment in associates
\nAssociates are those\nentities over which the Group is able to exert significant\ninfluence but which are neither subsidiaries nor joint ventures.\nInvestments in associate are initially recognised at cost and\nsubsequently accounted for using the equity method. Any goodwill or\nfair value adjustment attributable to the Group\u2019s share in\nthe associate is not recognised separately and is included in the\namount recognised as investment in associates.
\n\u00a0
\nThe carrying amount of\nthe investments in associate is increased or decreased to recognise\nthe Group\u2019s share of the profit or loss and other\ncomprehensive income of the associate. These changes include\nsubsequent depreciation, amortisation or impairment of the fair\nvalue adjustment of assets and liabilities.
\n\u00a0
\nUnrealised gains and\nlosses on transactions between the Group and its associates are\neliminated to the extent of the Group\u2019s interest in those\nentities. Where unrealised losses are eliminated, the underlying\nasset is also tested for impairment.
\n\u00a0
\nAmounts reported in the\nfinancial statements of associates have been adjusted where\nnecessary to ensure consistency with the accounting policies of the\nGroup.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForInvestmentInAssociates", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "OoZZGjNDnx": { "value": "4.15\u00a0\n\u00a0\u00a0Financial instruments
\nRecognition\nand derecognition
\nFinancial assets and\nfinancial liabilities are recognised when the Group and the Company\nbecome a party to the contractual provisions of the financial\ninstrument.
\n\u00a0
\nFinancial assets are\nderecognised when the contractual rights to the cash flows from the\nfinancial asset expire, or when the financial asset and all\nsubstantial risks and rewards are transferred. A financial\nliability is derecognised when it is extinguished, discharged,\ncancelled or expires.
\n\u00a0
\nClassification and\ninitial measurement of financial assets
\nExcept for those trade\nreceivables that do not contain a significant financing component\nand are measured at the transaction price in accordance with IFRS\n15, all financial assets are initially measured at fair value\nadjusted for transaction costs (where applicable).
\n\u00a0
\nFinancial assets are\nclassified into the following categories:
\n| \n \u2022 \n | \n\n amortised\ncost \n | \n
| \n \u2022 \n | \n\n fair value through\nprofit or loss (FVTPL); and/or \n | \n
| \n \u2022 \n | \n\n fair value through other\ncomprehensive income (FVOCI). \n | \n
\u00a0
\nThe classification is\ndetermined by both:
\n| \n \u2022 \n | \n\n the entity\u2019s\nbusiness model for managing the financial asset; and \n | \n
| \n \u2022 \n | \n\n the contractual cash\nflow characteristics of the financial asset. \n | \n
\u00a0
\nAll income and expenses\nrelating to financial assets that are recognised in profit or loss\nare presented within \u2018finance costs\u2019 or \u2018finance\nincome\u2019, except for impairment of trade receivables which is\npresented in \u2018administrative expenses\u2019.
\n\u00a0
\nSubsequent measurement\nof financial assets
\nFinancial assets at\namortised cost
\nFinancial assets are\nmeasured at amortised cost if the assets meet the following\nconditions (and are not designated as FVTPL):
\n\u00a0
\n| \n \u2022 \n | \n\n they are held within a\nbusiness model whose objective is to hold the financial assets and\ncollect its contractual cash flows; and \n | \n
| \n \u2022 \n | \n\n the contractual terms of\nthe financial assets give rise to cash flows that are solely\npayments of principal and interest on the principal amount\noutstanding. \n | \n
After initial\nrecognition, these are measured at amortised cost using the\neffective interest method. Discounting is omitted where the effect\nof discounting is immaterial.\u00a0 The Group\u2019s and the\nCompany\u2019s cash and cash equivalents, and trade and most other\nreceivables fall into this category of financial\ninstruments.
\n\u00a0
\nFinancial assets at\nFVOCI
\nThe Group and the\nCompany accounts for financial assets at FVOCI if the assets meet\nthe following conditions:
\n\u00a0
\n| \n \u2022 \n | \n\n they are held within a\nbusiness model whose objective is to hold to collect the associated\ncash flows and sell; and \n | \n
| \n \u2022 \n | \n\n the contractual terms\nof the financial assets give rise to cash flows that are solely\npayments of principal and interest on the principal amount\noutstanding. \n | \n
The Company made the\nirrevocable election to account for the investment in subsidiaries\nand associate at FVOCI.
\n\u00a0
\nAny gains or losses\nrecognised in other comprehensive income will be recycled upon\nderecognition of the asset.
\n\u00a0
\nFinancial assets at\nFVTPL
\nFinancial assets held\nwithin a different business model other than \u2018hold to\ncollect\u2019 or \u2018hold to collect and sell\u2019 are\ncategorised at FVTPL. Further, irrespective of the business model\nused, financial assets whose contractual cash flows are not solely\npayments of principal and interest are accounted for at\nFVTPL.
\n\u00a0
\nImpairment of financial\nassets
\nIFRS 9\u2019s\nimpairment requirements use more forward-looking information to\nrecognise expected credit losses \u2013 the \u2018expected credit\nloss (ECL) model\u2019.\u00a0 Instruments within the scope of the\nnew requirements included FVOCI, trade receivables and contract\nassets recognised and measured under IFRS 15.
\n\u00a0
\nRecognition of credit\nlosses is no longer dependent on the Group and Company first\nidentifying a credit loss event. Instead the Group and Company\nconsider a broad range of information when assessing credit risk\nand measuring expected credit losses, including past events,\ncurrent conditions, reasonable and supportable forecasts that\naffect the expected collectability of the future cash flows of the\ninstrument.
\n\u00a0
\nIn applying this\nforward-looking approach, a distinction is made between:
\n\u00a0
\n| \n \u2022 \n | \n\n financial instruments\nthat have not deteriorated significantly in credit quality since\ninitial recognition or that have low credit risk (\u2018Stage 1);\nand \n | \n
| \n \u2022 \n | \n\n financial instruments\nthat have deteriorated significantly in credit quality since\ninitial recognition and whose credit risk is not low (\u2018Stage\n2\u2019). \n | \n
\u00a0
\n\u2018Stage 3\u2019\nwould cover financial assets that have objective evidence of\nimpairment at the reporting date.
\n\u00a0
\n\u201812-month ECL are\nrecognised for the first category while \u2018lifetime ECL\u2019\nare recognised for the second category.
\n\u00a0
\nMeasurement of the ECL\nis determined by a probability-weighted estimate of credit losses\nover the expected life of the financial instrument.
\n\u00a0
\nTrade and other\nreceivables
\nThe Group and Company\nmake use of a simplified approach in accounting for trade and other\nreceivables as well as contract assets and record the loss\nallowance as lifetime expected credit losses. These are the\nexpected shortfalls in contractual cash flows, considering the\npotential for default at any point during the life of the financial\ninstrument. In calculating, the Group and Company use their\nhistorical experience, external indicators and forward-looking\ninformation to calculate the expected credit losses using a\nprovision matrix.
\n\u00a0
\nThe Group and Company\nassess impairment of trade receivables on a collective basis as\nthey possess shared credit risk characteristics.\u00a0 Refer to\nnote 27.1 for a detailed analysis of how the impairment\nrequirements of IFRS 9 are applied.
\n\u00a0
\nClassification and\nmeasurement of financial liabilities
\nThe Group and the\nCompany\u2019s financial liabilities include bonds and most trade\nand other payables.
\n\u00a0
\nFinancial liabilities\nare initially measured at fair value, and, where applicable,\nadjusted for transaction costs unless the Group and Company\ndesignates a financial liability at FVTPL.
\n\u00a0
\nSubsequently, financial\nliabilities are measured at amortised cost using the effective\ninterest method except for derivatives and financial liabilities\ndesignated at FVTPL, which are carried subsequently at fair value\nwith gains or losses recognised in profit or loss (other than\nderivative financial instruments that are designated and effective\nas hedging instruments).
\n\u00a0
\nAll interest-related\ncharges and, if applicable, changes in an instrument\u2019s fair\nvalue that are reported in profit or loss are included within\n\u2018finance costs\u2019 or \u2018finance\nincome\u2019.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "fSQxa6BiDt": { "value": "4. 16\u00a0\u00a0\u00a0 Inventories
\nInventories are stated\nat the lower of cost and net realisable value. Net realisable value\nis the estimated selling price in the ordinary course of business\nless any applicable selling expenses.
\n\u00a0
\nThe cost of inventories\nis based on the weighted average principle and includes expenditure\nincurred in acquiring the inventories and bringing them to their\nexisting location and condition.\u00a0
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForMeasuringInventories", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "cVnG6S6xeE": { "value": "4.17\u00a0\u00a0\u00a0\nCash and cash equivalents
\nFor the purposes of the\nstatements of cash flows, cash and cash equivalents comprise cash\nin hand and demand deposits.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForCashFlowsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "v26qzs16Gs": { "value": "4.18\n\u00a0\u00a0\u00a0Equity
\nShare capital\nrepresents the nominal (par) value of shares that have been\nissued.
\n\u00a0
\nOther components of\nequity include the following:
\n\u00a0
\n| \n \u2022 \n | \n\n gains and losses from\nthe revaluation of investment in subsidiaries and investment in\nassociate; and \n | \n
| \n \u2022 \n | \n\n Foreign currency\ntranslating in differences arising from the translation of\nfinancial statements of the Group\u2019s investment in\nassociate. \n | \n
\u00a0
\nRetained earnings\nincludes all current and prior period retained profits.
\n\u00a0
\nDividend distributions\npayable to equity shareholders are included in other liabilities\nwhen the dividends have been approved in a general meeting prior to\nthe reporting date.
\n\u00a0
\nAll transactions with\nowners are recorded separately within equity.
", "dimensions": { "concept": "mih:DescriptionOfAccountingPolicyForEquityExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "eOGscATt62": { "value": "4.19\u00a0\u00a0\u00a0\nProvisions, contingent liabilities and contingent assets
\nProvisions are\nrecognised when present obligations as a result of a past event\nwill probably lead to an outflow of economic resources from the\nGroup and Company and amounts can be estimated reliably. Timing or\namount of the outflow may still be uncertain. A present obligation\narises from the presence of a legal or constructive commitment that\nhas resulted from past events. Restructuring provisions are\nrecognised only if a detailed formal plan for the restructuring has\nbeen developed and implemented, or management has at least\nannounced the plan's main features to those affected by it.\nProvisions are not recognised for future operating\nlosses.
\n\u00a0
\nProvisions are measured\nat the estimated expenditure required to settle the present\nobligation, based on the most reliable evidence available at the\nreporting date, including the risks and uncertainties associated\nwith the present obligation. Where there are a number of similar\nobligations, the likelihood that an outflow will be required in\nsettlement is determined by considering the class of obligations as\na whole.\u00a0 Where the time value of money is material,\nprovisions are discounted to their present values.
\n\u00a0
\nAny reimbursement that\nthe Group and the Company can be virtually certain to collect from\na third party with respect to the obligation is recognised as a\nseparate asset. However, this asset may not exceed the amount of\nthe related provision.
\n\u00a0
\nAll provisions are\nreviewed at each reporting date and adjusted to reflect the current\nbest estimate.
\n\u00a0
\nIn those cases where\nthe possible outflow of economic resources as a result of present\nobligations is considered improbable or remote, no liability is\nrecognised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForProvisionsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "zOKE27vSg3": { "value": "4.19\u00a0\u00a0\u00a0\nProvisions, contingent liabilities and contingent assets
\nProvisions are\nrecognised when present obligations as a result of a past event\nwill probably lead to an outflow of economic resources from the\nGroup and Company and amounts can be estimated reliably. Timing or\namount of the outflow may still be uncertain. A present obligation\narises from the presence of a legal or constructive commitment that\nhas resulted from past events. Restructuring provisions are\nrecognised only if a detailed formal plan for the restructuring has\nbeen developed and implemented, or management has at least\nannounced the plan's main features to those affected by it.\nProvisions are not recognised for future operating\nlosses.
\n\u00a0
\nProvisions are measured\nat the estimated expenditure required to settle the present\nobligation, based on the most reliable evidence available at the\nreporting date, including the risks and uncertainties associated\nwith the present obligation. Where there are a number of similar\nobligations, the likelihood that an outflow will be required in\nsettlement is determined by considering the class of obligations as\na whole.\u00a0 Where the time value of money is material,\nprovisions are discounted to their present values.
\n\u00a0
\nAny reimbursement that\nthe Group and the Company can be virtually certain to collect from\na third party with respect to the obligation is recognised as a\nseparate asset. However, this asset may not exceed the amount of\nthe related provision.
\n\u00a0
\nAll provisions are\nreviewed at each reporting date and adjusted to reflect the current\nbest estimate.
\n\u00a0
\nIn those cases where\nthe possible outflow of economic resources as a result of present\nobligations is considered improbable or remote, no liability is\nrecognised.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForContingentLiabilitiesAndContingentAssetsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "XXEmw2KDma": { "value": "4.20\u00a0\u00a0\n\u00a0Significant management judgement in applying accounting\npolicies and estimation uncertainty
\nThe preparation of\nconsolidated financial statements in conformity with IFRS requires\nmanagement to make judgements, estimates and assumptions that\naffect the application of policies and reported amounts of assets,\nliabilities, income and expenses.\u00a0 Use of available\ninformation and application of judgement are inherent in making\nestimates. Actual results in the future could differ from such\nestimates and the differences may be material to the financial\nstatements. The estimates and underlying assumptions are reviewed\non an ongoing basis. Revisions to accounting estimates are\nrecognised in the period in which the estimate is revised if the\nrevision affects only that period, or in the period of revision and\nfuture periods if the revision affects both current and future\nperiods.
\n\u00a0
\nThe fair value of\ninvestment property is determined by using valuation\ntechniques.\u00a0 Further details of the judgements and assumptions\nmade are disclosed in note 13.
\n\u00a0
\nThis note highlights\ninformation about the fair value estimation of the investment\nproperty.
\n\u00a0
\nIn the opinion of the\ndirectors, the accounting estimates and judgements made in the\ncourse of preparing these financial statements are, with the\nexception of those described hereunder, not difficult, subjective\nor complex to a degree which would warrant their description as\ncritical in terms of the requirements of IAS 1.
\n\u00a0
\n(a) Recognition of\ncontract revenue over time or at a point in time
\n\u00a0
\nFor some of the\nGroup\u2019s contracts with customers significant judgement is\nrequired to assess whether control of the related performance\nobligation(s) transfers to the customer over time or at a point in\ntime in accordance with IFRS 15. Specifically, for contracts that\ninvolve developing a customer-specific asset with no alternative\nuse to the Group, judgement is needed to determine whether the\nGroup is entitled to payment for its performance throughout the\ncontract period if the customer sought to cancel the contract. This\nrelates mainly to residential and commercial leases which represent\n\u20ac32,343,057 (2024: \u20ac29,769,240) of the Group\u2019s\nrevenue.
\n\u00a0
\nThe Group assesses if\nit has a right to payment for its performance throughout the\ncontract period and recognises revenue over time.
\n\u00a0
\nFor other revenue\nsources, the Group assesses that the performance obligations are\nsatisfied at a point in time.
\n\u00a0
\n(b)\n Income\ntaxes
\nIn order to establish\nthe taxation provisions, management exercises significant judgement\nin view of the fact that the Group and the Company operate in\nvarious jurisdictions and as a result there are diverse\ntransactions for which the ultimate tax determination is somewhat\nuncertain.\u00a0 In the event that the amount of actual tax due\ndiffers from the original amounts provided for, such variances will\nhave an impact on the taxation charges for future\nperiods.
\n\u00a0
\n(c) Useful lives of\ndepreciable assets
\n\u00a0
\nManagement reviews the\nuseful lives of depreciable assets at each reporting date, based on\nthe expected utility of the assets to the Group and Company.\u00a0\nThe carrying amounts are analysed in note 12.\u00a0 Actual results,\nhowever, may vary due to technical obsolescence, particularly\nrelating to software and IT equipment.
\n\u00a0
\n(d) Fair value of\ninvestment property
\n\u00a0
\nAt each reporting date\nthe investment property is revalued by the directors based either\non management\u2019s estimates of expected future cash flows or\nmarket values.\u00a0 The Group has not recognised a fair value\nuplift to the investment property during the year under\nreview.\u00a0 When based on management\u2019s estimates of\nexpected future cash flows the value of each property is determined\nby applying a suitable discount rate.
\n\u00a0
\nThe Group\u2019s\ninvestment property is situated in Libya which is still\nexperiencing prolonged political uncertainty.
\n\u00a0
\nThe estimated fair\nvalues were arrived at using projected cash flows from the\noperation of the investment property. On the basis of the valuation\ncarried out by the directors, no uplift was recognised in these\nfinancial statements. The uncertainty which is still prevailing in\nLibya and the significant judgements surrounding the valuation of\nthe investment property situated in that country render the\nvaluation of any uplift of the property extremely difficult and\njudgmental (see note 13).\u00a0
\n\u00a0
\n(e)\u00a0Impairment of\ntrade and other receivables
\n\u00a0
\nThe Group applies the\nsimplified model of recognising lifetime expected credit losses for\nall trade receivables.\u00a0 In measuring the expected credit\nlosses, the trade receivables are assessed on a collective basis as\nthey possess shared credit characteristics.\u00a0 They have been\ngrouped according to the past due dates and geographical\nlocation.\u00a0 The Group has concluded that the expected credit\nlosses for trade receivables is not material (see note\n18).
\n\u00a0
\n(f)\nInventories
\n\u00a0
\nManagement estimates the\nnet realisable values of inventories, taking into account the most\nreliable evidence available at each reporting date. The future\nrealisation of these inventories may be affected by expiry,\nobsolescence, future technology or other market-driven changes that\nmay reduce future selling prices.
", "dimensions": { "concept": "ifrs-full:DisclosureOfAccountingJudgementsAndEstimatesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "MmkRJr62ql": { "value": "4.21\u00a0\n\u00a0Segment reporting
\nThe standard requires a\n\u2018management approach\u2019 under which segment information\nis presented on the same basis as that used for internal reporting\npurposes.\u00a0 The chief operating maker, who is responsible for\nallocating resources and assessing performance of the operating\nsegments, has been identified as the Group board of\ndirectors.
\n\u00a0
\nAn operating segment is\na group of assets and operations engaged in providing services that\nare subject to risks and returns that are different from that of\nother segments.\u00a0 The operating segments can be classified as\ninvestment property rental, income from food and beverages and\nothers.
\n\u00a0
\nThe Group is engaged in\nthe ownership and leasing of its investment property. The\nGroup\u2019s country of domicile is Malta and the operation is in\nLibya.
\n\u00a0
\nThe board of directors\nassesses performance based on the measure of earnings before\ninterest, tax, depreciation and amortisation (EBITDA).
\n\u00a0
\nThe Group is not\nrequired to report a measure of total assets and liabilities for\neach reportable segment since such amounts are not regularly\nprovided to the chief operating decision maker.\u00a0 However, in\naccordance with IFRS 8, non-current assets (other than financial\ninstruments and deferred tax assets) are divided into geographical\nareas in note 5.
", "dimensions": { "concept": "ifrs-full:DescriptionOfAccountingPolicyForSegmentReportingExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "yxyl5hpTkG": { "value": "5\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Segment\nreporting
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n Libya \n | \n\n Libya \n | \n
| \n Revenue (note\n1) \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Investment property\nrental \n | \n\n 32,343,057 \n | \n\n 29,769,240 \n | \n
| \n Income from food and\nbeverages operations \n | \n\n 589,236 \n | \n\n 602,449 \n | \n
| \n Other \n | \n\n 567,580 \n | \n\n 852,249 \n | \n
| \n \u00a0 \n | \n\n 33,499,873 \n | \n\n 31,223,938 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n EBITDA \n | \n\n 24,764,534 \n | \n\n 22,736,863 \n | \n
| \n Depreciation \n | \n\n (361,828) \n | \n\n (368,567) \n | \n
| \n Segment operating\nprofit \n | \n\n 24,402,706 \n | \n\n 22,368,296 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Non-current assets (note\n2) \n | \n\n 273,253,011 \n | \n\n 273,471,669 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
During the year,\n\u20ac16,180,405 or 48% (2024: \u20ac15,688,514 or 50%) of the\nGroup\u2019s revenues depended on four (2024: four) single\ncustomers in the investment property rental segment.
\n\u00a0
\nNote 1: Revenue\ncomprises amounts attributable to Libya, amounting to\n\u20ac5,472,843 (2024: \u20ac4,915,932), United States of America,\namounting to \u20ac5,952,402 (2024: \u20ac4,660,411), Italy\n3,946,029 (2024: \u20ac3,557,848), other European countries\n\u20ac14,586,930 (2024: \u20ac15,286,518) and other foreign\ncountries amounting to \u20ac3,541,669 (2024:\n\u20ac2,803,229).
\n\u00a0
\nNote 2: All non-current\nassets are located in Libya.
", "dimensions": { "concept": "ifrs-full:DisclosureOfOperatingSegmentsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "QIG5it8IZm": { "value": "6\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Revenue
\n| \n | \n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Dividend\nincome \n | \n\n - \n | \n\n - \n | \n\n 50,000,000 \n | \n\n - \n | \n
| \n Income from management\nfees \n | \n\n - \n | \n\n - \n | \n\n 282,848 \n | \n\n 269,380 \n | \n
| \n Income from residential\nleases \n | \n\n 31,191,286 \n | \n\n 28,741,098 \n | \n\n - \n | \n\n - \n | \n
| \n Income from commercial\nleases \n | \n\n 1,151,771 \n | \n\n 1,028,142 \n | \n\n - \n | \n\n - \n | \n
| \n Income from food and\nbeverage operations \n | \n\n 589,236 \n | \n\n 602,449 \n | \n\n - \n | \n\n - \n | \n
| \n Administration\nfees \n | \n\n - \n | \n\n (100) \n | \n\n - \n | \n\n - \n | \n
| \n Water, electricity,\ninternet and telephone recharges \n | \n\n - \n | \n\n 13,779 \n | \n\n - \n | \n\n - \n | \n
| \n Miscellaneous\nincome \n | \n\n 567,580 \n | \n\n 838,570 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n 33,499,873 \n | \n\n 31,223,938 \n | \n\n 50,282,848 \n | \n\n 269,380 \n | \n
7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Staff\ncosts\u00a0\u00a0\u00a0\u00a0\u00a0
\n| \n | \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Wages and\nsalaries \n | \n\n 2,185,466 \n | \n\n 2,119,391 \n | \n\n - \n | \n\n - \n | \n\n \u00a0 \n | \n
| \n Directors\u2019 fees\nand remuneration \n | \n\n 279,092 \n | \n\n 317,339 \n | \n\n 45,000 \n | \n\n 45,000 \n | \n\n \u00a0 \n | \n
| \n Social security\ncosts \n | \n\n 112,931 \n | \n\n 110,659 \n | \n\n - \n | \n\n - \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n 2,577,489 \n | \n\n 2,547,389 \n | \n\n 45,000 \n | \n\n 45,000 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n The average number of\npersons employed by the Group during the year was: \n | \n|||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n No. \n | \n\n No. \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Operating \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 72 \n | \n\n 73 \n | \n\n \u00a0 \n | \n
| \n Administrative \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 30 \n | \n\n 30 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 102 \n | \n\n 103 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
During the years\npresented, the Company did not have any employees.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEmployeeBenefitsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "GhNxHQsN3H": { "value": "8\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Finance income and\nfinance costs\u00a0\u00a0\u00a0\u00a0\u00a0
\nFinance income and\nfinance costs may be analysed as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Interest charged on loan\nto subsidiary company \n | \n\n - \n | \n\n - \n | \n\n 3,173,119 \n | \n\n 2,114,491 \n | \n
| \n Interest charged on loan\nto shareholders \n | \n\n 97,021 \n | \n\n 69,498 \n | \n\n 97,021 \n | \n\n 69,498 \n | \n
| \n Other interest received\non short-term securities \n | \n\n 71,942 \n | \n\n 59,145 \n | \n\n 71,942 \n | \n\n 59,145 \n | \n
| \n Other income \n | \n\n - \n | \n\n 13,573 \n | \n\n - \n | \n\n 13,573 \n | \n
| \n Gain on investment in\nfinancial assets at fair value \n | \n\n 160,860 \n | \n\n 119,894 \n | \n\n 160,860 \n | \n\n 119,894 \n | \n
| \n Realised difference on\nexchange \n | \n\n - \n | \n\n 1,029,029 \n | \n\n - \n | \n\n 263 \n | \n
| \n Unrealised difference on\nexchange \n | \n\n 866,587 \n | \n\n - \n | \n\n - \n | \n\n - \n | \n
| \n Finance\nincome \n | \n\n 1,196,410 \n | \n\n 1,291,139 \n | \n\n 3,502,942 \n | \n\n 2,376,864 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Interest on\nbonds \n | \n\n 3,245,500 \n | \n\n 3,405,000 \n | \n\n 3,245,500 \n | \n\n 3,405,000 \n | \n
| \n Bank interest and other\ncharges \n | \n\n 14,213 \n | \n\n 11,580 \n | \n\n - \n | \n\n - \n | \n
| \n Other interest\nexpenses \n | \n\n 21,512 \n | \n\n 26,476 \n | \n\n 21,512 \n | \n\n 26,476 \n | \n
| \n Amortisation of bond\nissue costs \n | \n\n 183,745 \n | \n\n 173,417 \n | \n\n 183,745 \n | \n\n 173,417 \n | \n
| \n Realised difference on\nexchange \n | \n\n 308,706 \n | \n\n - \n | \n\n 3,753 \n | \n\n - \n | \n
| \n Unrealised difference on\nexchange \n | \n\n - \n | \n\n 1,433,603 \n | \n\n - \n | \n\n - \n | \n
| \n Finance\ncosts \n | \n\n 3,773,676 \n | \n\n 5,050,076 \n | \n\n 3,454,510 \n | \n\n 3,604,893 \n | \n
9\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Profit (loss) before\ntax
\nThe profit (loss)\nbefore tax is stated after charging:
\n\u00a0
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation of\nproperty, plant and equipment \n | \n\n 362,555 \n | \n\n 369,678 \n | \n\n 727 \n | \n\n 1,111 \n | \n
| \n Auditor\u2019s\nremuneration: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Annual statutory\naudit \n | \n\n 38,915 \n | \n\n 32,300 \n | \n\n 12,285 \n | \n\n 11,700 \n | \n
| \n Other non-assurance\nfees \n | \n\n 4,075 \n | \n\n 4,000 \n | \n\n 1,300 \n | \n\n 1,250 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
9\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Profit (loss) before\ntax
\nThe profit (loss)\nbefore tax is stated after charging:
\n\u00a0
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation of\nproperty, plant and equipment \n | \n\n 362,555 \n | \n\n 369,678 \n | \n\n 727 \n | \n\n 1,111 \n | \n
| \n Auditor\u2019s\nremuneration: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Annual statutory\naudit \n | \n\n 38,915 \n | \n\n 32,300 \n | \n\n 12,285 \n | \n\n 11,700 \n | \n
| \n Other non-assurance\nfees \n | \n\n 4,075 \n | \n\n 4,000 \n | \n\n 1,300 \n | \n\n 1,250 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
The relationship\nbetween the expected tax (expense) income based on the effective\ntax rate of the Group and the Company and the actual tax (expense)\nincome recognised in the statements of total comprehensive income\ncan be reconciled as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Profit (loss) before\ntax \n | \n\n 22,434,986 \n | \n\n 18,116,763 \n | \n\n 49,116,725 \n | \n\n (2,123,746) \n | \n
| \n Tax rate \n | \n\n 35% \n | \n\n 35% \n | \n\n 35% \n | \n\n 35% \n | \n
| \n Expected tax\n(expense) income \n | \n\n (7,852,245) \n | \n\n (6,340,867) \n | \n\n (17,190,854) \n | \n\n 743,311 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Adjustment for\nnon-deductible expenses \n | \n\n 405,177 \n | \n\n (1,793,729) \n | \n\n 17,473,213 \n | \n\n (1,669,850) \n | \n
| \n Adjustment for income\nnot subject to tax \n | \n\n 7,326,841 \n | \n\n 7,059,899 \n | \n\n - \n | \n\n - \n | \n
| \n Unrelieved foreign\ntax \n | \n\n (2,599,701) \n | \n\n (3,578,798) \n | \n\n - \n | \n\n - \n | \n
| \n Actual tax (expense)\nincome, net \n | \n\n (2,719,928) \n | \n\n (4,653,495) \n | \n\n 282,359 \n | \n\n (926,539) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Comprising: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Current tax \n | \n\n (2,599,701) \n | \n\n (3,578,745) \n | \n\n (10,820) \n | \n\n (9,134) \n | \n
| \n Deferred tax on\nunabsorbed capital \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Allowances and unused\ntax losses \n | \n\n (120,227) \n | \n\n (1,074,750) \n | \n\n 293,179 \n | \n\n (917,405) \n | \n
| \n Tax (expense)\nincome \n | \n\n (2,719,928) \n | \n\n (4,653,495) \n | \n\n 282,359 \n | \n\n (926,539) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred tax income\n(expense), recognised \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n directly in other\ncomprehensive income \n | \n\n 610,710 \n | \n\n (94,992) \n | \n\n 10,242,720 \n | \n\n (5,833,197) \n | \n
\u00a0
\nSee note 24 for\ninformation on the Group\u2019s and Company\u2019s deferred tax\nliability.
", "dimensions": { "concept": "ifrs-full:DisclosureOfIncomeTaxExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "VPvV-y.Bq0": { "value": "The calculation of\nearnings per share is based on the net profit for the year\nattributable to ordinary shareholders and the weighted average\nnumber of ordinary shares (2025 and 2024: 48,002,000) outstanding\nduring the year. There was no dilution of share capital during the\nreporting periods presented.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEarningsPerShareExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "bPrk1HRdAU": { "value": "12\u00a0\u00a0\u00a0\u00a0\u00a0 Property, plant and\nequipment| \n The Group and\nCompany\u2019s property, plant and equipment and their carrying\namounts can be analysed as follows: \n | \n
| \n Group \n | \n\n Asset in the course\nof construction \n | \n\n Computer\nequipment \n | \n\n Computer\nsoftware \n | \n\n Motor\nvehicles \n | \n\n Office furniture and\nequipment \n | \n\n Tools \n | \n\n Machinery and\nequipment \n | \n\n Right of use\nasset \n | \n\n Total \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Gross carrying\namount \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2024 \n | \n\n 9,015,627 \n | \n\n 358,893 \n | \n\n 292,518 \n | \n\n 289,141 \n | \n\n 572,639 \n | \n\n 125,803 \n | \n\n 1,456,980 \n | \n\n 399,761 \n | \n\n 12,511,362 \n | \n
| \n Additions \n | \n\n 39,855 \n | \n\n 5,995 \n | \n\n - \n | \n\n - \n | \n\n 10,920 \n | \n\n 12,811 \n | \n\n 41,760 \n | \n\n - \n | \n\n 111,341 \n | \n
| \n At 31 December\n2024 \n | \n\n 9,055,482 \n | \n\n 364,888 \n | \n\n 292,518 \n | \n\n 289,141 \n | \n\n 583,559 \n | \n\n 138,614 \n | \n\n 1,498,740 \n | \n\n 399,761 \n | \n\n 12,622,703 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2024 \n | \n\n - \n | \n\n 317,763 \n | \n\n 221,150 \n | \n\n 227,350 \n | \n\n 544,742 \n | \n\n 121,606 \n | \n\n 873,726 \n | \n\n 38,087 \n | \n\n 2,344,424 \n | \n
| \n Depreciation for the\nyear \n | \n\n - \n | \n\n 26,530 \n | \n\n 15,034 \n | \n\n 28,353 \n | \n\n 9,608 \n | \n\n 4,482 \n | \n\n 278,037 \n | \n\n 7,634 \n | \n\n 369,678 \n | \n
| \n At 31 December\n2024 \n | \n\n - \n | \n\n 344,293 \n | \n\n 236,184 \n | \n\n 255,703 \n | \n\n 554,350 \n | \n\n 126,088 \n | \n\n 1,151,763 \n | \n\n 45,721 \n | \n\n 2,714,102 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Carrying amounts at\n31 December 2024 \n | \n\n 9,055,482 \n | \n\n 20,595 \n | \n\n 56,334 \n | \n\n 33,438 \n | \n\n 29,209 \n | \n\n 12,526 \n | \n\n 346,977 \n | \n\n 354,040 \n | \n\n 9,908,601 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Gross carrying\namount \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2025 \n | \n\n 9,055,482 \n | \n\n 364,888 \n | \n\n 292,518 \n | \n\n 289,141 \n | \n\n 583,559 \n | \n\n 138,614 \n | \n\n 1,498,740 \n | \n\n 399,761 \n | \n\n 12,622,703 \n | \n
| \n Additions \n | \n\n 81,999 \n | \n\n 16,670 \n | \n\n 3,551 \n | \n\n 21,030 \n | \n\n 1,892 \n | \n\n - \n | \n\n 100,027 \n | \n\n - \n | \n\n 225,169 \n | \n
| \n At 31 December\n2025 \n | \n\n 9,137,481 \n | \n\n 381,558 \n | \n\n 296,069 \n | \n\n 310,171 \n | \n\n 585,451 \n | \n\n 138,614 \n | \n\n 1,598,767 \n | \n\n 399,761 \n | \n\n 12,847,872 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2025 \n | \n\n - \n | \n\n 344,293 \n | \n\n 236,184 \n | \n\n 255,703 \n | \n\n 554,350 \n | \n\n 126,088 \n | \n\n 1,151,763 \n | \n\n 45,721 \n | \n\n 2,714,102 \n | \n
| \n Depreciation for the\nyear \n | \n\n - \n | \n\n 10,870 \n | \n\n 15,211 \n | \n\n 27,131 \n | \n\n 11,025 \n | \n\n 6,079 \n | \n\n 284,626 \n | \n\n 7,613 \n | \n\n 362,555 \n | \n
| \n At 31 December\n2025 \n | \n\n - \n | \n\n 355,163 \n | \n\n 251,395 \n | \n\n 282,834 \n | \n\n 565,375 \n | \n\n 132,167 \n | \n\n 1,436,389 \n | \n\n 53,334 \n | \n\n 3,076,657 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Carrying amounts at\n31 December 2025 \n | \n\n 9,137,481 \n | \n\n 26,395 \n | \n\n 44,674 \n | \n\n 27,337 \n | \n\n 20,076 \n | \n\n 6,447 \n | \n\n 162,378 \n | \n\n 346,427 \n | \n\n 9,771,215 \n | \n
| \n Company \n | \n\n | \n Computer\nequipment \n | \n
| \n | \n | \n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Gross carrying\namount \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January 2024 and 31\nDecember 2024 \n | \n\n \u00a0 \n | \n\n 10,475 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2024 \n | \n\n \u00a0 \n | \n\n 8,637 \n | \n
| \n Depreciation for the\nyear \n | \n\n \u00a0 \n | \n\n 1,111 \n | \n
| \n At 31 December\n2024 \n | \n\n \u00a0 \n | \n\n 9,748 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Carrying amount at 31\nDecember 2024 \n | \n\n \u00a0 \n | \n\n 727 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \nGross carrying\namount \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January 2025 and 31\nDecember 2025 \n | \n\n \u00a0 \n | \n\n 10,475 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2025 \n | \n\n \u00a0 \n | \n\n 9,748 \n | \n
| \n Depreciation for the\nyear \n | \n\n \u00a0 \n | \n\n 727 \n | \n
| \n At 31 December\n2025 \n | \n\n \u00a0 \n | \n\n 10,475 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Carrying amount at 31\nDecember 2025 \n | \n\n \u00a0 \n | \n\n - \n | \n
\u00a0
\nThe Group\u2019s\nproperty, plant and equipment comprises an asset that is being\nconstructed on land located in Shuhada Sidi Abuljalil, Janzour in\nLibya. This land is earmarked for development for residential\nunits, tourism, leisure and restaurant facilities by one of the\nsubsidiaries, Palm Waterfront Ltd. Costs directly associated with\nthe development of the land have also been included.
\n\u00a0
\nThe right to construct\nthe asset was acquired by means of a Build, Operate and Transfer\n(BOT) agreement with CPHCL Company Limited which was signed on 5\nDecember 2013. The arrangement gives Palm Waterfront Ltd the right\nto develop the site, construct, implement, manage and operate the\nproject at its discretion. The term of the BOT agreement is for a\nperiod of 80 years from date of signing of said\nagreement.
", "dimensions": { "concept": "ifrs-full:DisclosureOfPropertyPlantAndEquipmentExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "WwQUvuaIhv": { "value": "13\u00a0\u00a0\u00a0\u00a0\u00a0 Investment\nproperty
\nGroup
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Carrying amount at 1\nJanuary \n | \n\n 272,617,020 \n | \n\n 272,567,609 \n | \n
| \n Additions \n | \n\n - \n | \n\n 49,411 \n | \n
| \n Carrying amount at 31\nDecember \n | \n\n 272,617,020 \n | \n\n 272,617,020 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
Investment property\nincludes the Palm City Residences in Janzour, Libya, which is held\nto earn rentals and for capital appreciation. Due to the lack of\ncomparable properties in the market, the determination of fair\nvalue cannot be objectively established on the basis of current\nactive market prices.\u00a0 Therefore, the fair value is determined\non the basis of the discounted value of future earnings expected\nfrom the operation of the property.
\n\u00a0
\nRental income for 2025\namounting to \u20ac32,343,057 (2024: \u20ac29,769,240) is included\nwithin \u2018Revenue\u2019. No contingent rents were recognised.\nDirect operating expenses of \u20ac7,119,258 (2024:\n\u20ac6,892,707) were reported within \u2018Operating\nexpenses\u2019.
\n\u00a0
\nThe fair value of the\ninvestment property was determined by discounting the forecast\nfuture cash flows generated by Palm City Residences for the\nremaining period of 46 years of the Build-Operate-Transfer\nagreement signed between CPHCL Company Limited and Palm City Ltd in\n2007. A valuation exercise was carried out by the directors to\ndetermine the fair value of the investment property, and a\ncomposite pre-tax discount rate of 9.0% (2024: 9.7%) in real terms\nwas applied to the projected cash flows.
\n\u00a0
\nThe operating\nperformance of the asset has remained relatively stable when\ncompared to last year.\u00a0
\n\u00a0
\nThe valuation arrived\nat when using all the above inputs, combined with the projected\nincome streams amounts to \u20ac279,817,000 (2024:\n\u20ac279,556,000). \u00a0This figure is \u20ac7,199,980 higher\nthan the carrying value of the investment property as at the end of\nthe reporting period.
\n\u00a0
\nIf the discount rate\nvaries by +- 100 basis points, the fair value of the investment\nproperty would fluctuate by \u20ac28.9 million and \u20ac35.6\nmillion (2024: \u20ac23.7 million and \u20ac45.1 million),\nrespectively.
\n\u00a0
\nThere are no material\ncontractual obligations pertaining to investment property at the\nend of the reporting periods presented, except for repairs and\nmaintenance expenses incurred in the normal running of the\noperation.
\n\u00a0
\nLeasing arrangements for\nresidential units at the end of the reporting periods presented are\nas follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n % \n | \n\n % \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Within 1 year \n | \n\n 4 \n | \n\n 17 \n | \n
| \n 1-5 years \n | \n\n 96 \n | \n\n 83 \n | \n
| \n \u00a0 \n | \n\n 100 \n | \n\n 100 \n | \n
14\u00a0\u00a0\u00a0\u00a0\u00a0 Other\ninvestments
\n14.1\u00a0\u00a0\nInvestment accounted for using the equity method
\nGroup
\n\u00a0
\nIn the Group financial\nstatements, the investment in Medina Towers Joint Stock Company for\nReal Estate Investments and Developments (\u2018MTJSC\u2019) is\naccounted for using the equity method.
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Shares in associate\ncompany (unquoted)\u00a0 \n | \n\n | \n | \n 8,325,961 \n | \n\n 8,526,553 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
14.2\u00a0\u00a0\nInvestment in associate
\nCompany
\n\u00a0
\nIn the Company\nfinancial statements, the investment in MTJSC is shown as financial\nasset at FVOCI. The fair value has been derived based on the latest\nfinancial information available.
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n\n \u00a0\n\u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Shares in associate\ncompany (unquoted) \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 8,325,961 \n | \n\n 8,526,553 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
The below table sets\nout the financial information of the associate.
\n\u00a0
\n| \n Associate\ncompany \n | \n\n Percentage holding in\nordinary shares \n | \n\n Nature of\nbusiness \n | \n\n Capital and reserves\n31.12.2025 \n | \n
| \n \u00a0 \n | \n\n % \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Medina Tower Joint Stock\nCompany \n | \n\n 25 \n | \n\n Property\ndevelopment \n | \n\n 33,303,843 \n | \n
| \n for Real Estate\nInvestment and \n | \n|||
| \n Development\n(MTJSC) \n | \n|||
| \n Suite 107, Tower 2,\nLevel 10 \n | \n|||
| \n Tripoli Towers, Tripoli,\nLibya \n | \n|||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n (LYD 211,815,771 ) \n | \n
\u00a0
\nSummarised financial\ninformation for MTJSC is as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total assets \n | \n\n 37,234,578 \n | \n\n 38,386,713 \n | \n
| \n Total\nliabilities \n | \n\n (3,930,735) \n | \n\n (4,280,499) \n | \n
| \n Profit (loss) for the\nyear \n | \n\n 1,422,061 \n | \n\n (128,432) \n | \n
\u00a0
\nA reconciliation of the\nabove summarised financial information to the carrying amount of\nthe investment is set out below:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total net\nassets \n | \n\n 33,303,843 \n | \n\n 34,106,214 \n | \n
| \n Proportion of ownership\nheld by group \n | \n\n 25% \n | \n\n 25% \n | \n
| \n Carrying amount of\ninvestment \n | \n\n 8,325,961 \n | \n\n 8,526,553 \n | \n
\u00a0
\n14.3\u00a0\u00a0\nFinancial assets at fair value through profit or loss
\nGroup and\nCompany
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January \n | \n\n 5,457,853 \n | \n\n 979,075 \n | \n
| \n Acquired during the\nyear \n | \n\n 12,395,285 \n | \n\n 11,673,884 \n | \n
| \n Disposed during the\nyear \n | \n\n (10,612,000) \n | \n\n (7,315,000) \n | \n
| \n Increase in fair\nvalue \n | \n\n 160,860 \n | \n\n 119,894 \n | \n
| \n At 31\nDecember \n | \n\n 7,401,998 \n | \n\n 5,457,853 \n | \n
\u00a0
\nAs at 31 December 2025,\nall financial assets comprise long-term investments maturing for\nmore than 1 year from date of acquisition and are stated at fair\nvalue.
\n\u00a0
\nAs at 31 December 2024,\nall financial assets comprise short-term investments maturing for\nmore than 3 months but less than 1 year from date of acquisition\nand are stated at fair value.
", "dimensions": { "concept": "mih:DisclosureOfOtherInvestmentExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "FDvZa53Llp": { "value": "14\u00a0\u00a0\u00a0\u00a0\u00a0 Other\ninvestments
\n14.1\u00a0\u00a0\nInvestment accounted for using the equity method
\nGroup
\n\u00a0
\nIn the Group financial\nstatements, the investment in Medina Towers Joint Stock Company for\nReal Estate Investments and Developments (\u2018MTJSC\u2019) is\naccounted for using the equity method.
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Shares in associate\ncompany (unquoted)\u00a0 \n | \n\n | \n | \n 8,325,961 \n | \n\n 8,526,553 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
14.2\u00a0\u00a0\nInvestment in associate
\nCompany
\n\u00a0
\nIn the Company\nfinancial statements, the investment in MTJSC is shown as financial\nasset at FVOCI. The fair value has been derived based on the latest\nfinancial information available.
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n\n \u00a0\n\u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Shares in associate\ncompany (unquoted) \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n 8,325,961 \n | \n\n 8,526,553 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
The below table sets\nout the financial information of the associate.
\n\u00a0
\n| \n Associate\ncompany \n | \n\n Percentage holding in\nordinary shares \n | \n\n Nature of\nbusiness \n | \n\n Capital and reserves\n31.12.2025 \n | \n
| \n \u00a0 \n | \n\n % \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Medina Tower Joint Stock\nCompany \n | \n\n 25 \n | \n\n Property\ndevelopment \n | \n\n 33,303,843 \n | \n
| \n for Real Estate\nInvestment and \n | \n|||
| \n Development\n(MTJSC) \n | \n|||
| \n Suite 107, Tower 2,\nLevel 10 \n | \n|||
| \n Tripoli Towers, Tripoli,\nLibya \n | \n|||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n (LYD 211,815,771 ) \n | \n
\u00a0
\nSummarised financial\ninformation for MTJSC is as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total assets \n | \n\n 37,234,578 \n | \n\n 38,386,713 \n | \n
| \n Total\nliabilities \n | \n\n (3,930,735) \n | \n\n (4,280,499) \n | \n
| \n Profit (loss) for the\nyear \n | \n\n 1,422,061 \n | \n\n (128,432) \n | \n
\u00a0
\nA reconciliation of the\nabove summarised financial information to the carrying amount of\nthe investment is set out below:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total net\nassets \n | \n\n 33,303,843 \n | \n\n 34,106,214 \n | \n
| \n Proportion of ownership\nheld by group \n | \n\n 25% \n | \n\n 25% \n | \n
| \n Carrying amount of\ninvestment \n | \n\n 8,325,961 \n | \n\n 8,526,553 \n | \n
14.3\u00a0\u00a0\nFinancial assets at fair value through profit or loss
\nGroup and\nCompany
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January \n | \n\n 5,457,853 \n | \n\n 979,075 \n | \n
| \n Acquired during the\nyear \n | \n\n 12,395,285 \n | \n\n 11,673,884 \n | \n
| \n Disposed during the\nyear \n | \n\n (10,612,000) \n | \n\n (7,315,000) \n | \n
| \n Increase in fair\nvalue \n | \n\n 160,860 \n | \n\n 119,894 \n | \n
| \n At 31\nDecember \n | \n\n 7,401,998 \n | \n\n 5,457,853 \n | \n
\u00a0
\nAs at 31 December 2025,\nall financial assets comprise long-term investments maturing for\nmore than 1 year from date of acquisition and are stated at fair\nvalue.
\n\u00a0
\nAs at 31 December 2024,\nall financial assets comprise short-term investments maturing for\nmore than 3 months but less than 1 year from date of acquisition\nand are stated at fair value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfFinancialInstrumentsDesignatedAtFairValueThroughProfitOrLossExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "LL9-._Zw-M": { "value": "15\u00a0\u00a0\u00a0\u00a0\u00a0 Investments in\nsubsidiaries
\nCompany
\n\u00a0
\n| \n | \n | \n | \n 2025 \n | \n\n 2024 \n | \n
| \n | \n | \n Notes \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n | \n | \n | \n | \n |
| \n Shares in subsidiary\ncompanies (unquoted) \n | \n\n 15.1 \n | \n\n 182,277,075 \n | \n\n 213,086,282 \n | \n|
| \n Loans to subsidiary\ncompany \n | \n\n | \n 15.2 \n | \n\n 7,000,000 \n | \n\n 7,000,000 \n | \n
| \n | \n | \n | \n 189,277,075 \n | \n\n 220,086,282 \n | \n
\u00a0
\n15.1\n\u00a0\u00a0Shares in subsidiary companies (unquoted)
\n| \n Subsidiary\ncompany \n | \n\n Percentage holding\nin ordinary shares \n | \n\n Nature of\nbusiness \n | \n
| \n Palm City\nLtd \n | \n\n 100% \n | \n\n Property\ndevelopment \n | \n
| \n 22, Europa Centre,\nFloriana, FRN 1400, Malta \n | \n\n | |
| \n Palm Waterfront\nLtd \n | \n\n 99.90% \n | \n\n Property\ndevelopment \n | \n
| \n 22, Europa Centre, John\nLopez Street, Floriana, FRN 1400, Malta \n | \n\n | \n |
\u00a0
\nShares in subsidiary\ncompanies are being shown at fair value based on the latest\navailable financial statements.
\n\u00a0
\n15.2 \u00a0\u00a0Loan\nto subsidiary company
\nThe loan to Palm\nWaterfront Ltd is unsecured, interest free and is payable at the\ndiscretion of the borrower. The carrying amount of the loans is\nconsidered a reasonable approximation of fair value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfSignificantInvestmentsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "zdn5kd5CS5": { "value": "15\u00a0\u00a0\u00a0\u00a0\u00a0 Investments in\nsubsidiaries15.1\n\u00a0\u00a0Shares in subsidiary companies (unquoted)
\n| \n Subsidiary\ncompany \n | \n\n Percentage holding\nin ordinary shares \n | \n\n Nature of\nbusiness \n | \n
| \n Palm City\nLtd \n | \n\n 100% \n | \n\n Property\ndevelopment \n | \n
| \n 22, Europa Centre,\nFloriana, FRN 1400, Malta \n | \n\n | |
| \n Palm Waterfront\nLtd \n | \n\n 99.90% \n | \n\n Property\ndevelopment \n | \n
| \n 22, Europa Centre, John\nLopez Street, Floriana, FRN 1400, Malta \n | \n\n | \n |
\u00a0
\nShares in subsidiary\ncompanies are being shown at fair value based on the latest\navailable financial statements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInterestsInSubsidiariesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "Ne_NWSON6P": { "value": "16\u00a0\u00a0\u00a0\u00a0\u00a0 Leases
\nThe Group as a\nlessee
\nThe Group has leases\nfor the right to operate the Palm City Residences and motor\nvehicles.
\n\u00a0
\nOn 2 October 2007,\nCPHCL Company Limited entered into a BOT agreement with Palm City\nLtd effective from 6 July 2006. The arrangement, which gives Palm\nCity Ltd the right to operate the Palm City Residences in Janzour,\nLibya for a period of 65 years, contains a lease element which is\nclassified as an operating lease. The payment for the operating\nlease element has been estimated at \u20ac494,827 on the basis of\nthe original lease granted by the Government of Libya to CPHCL\nCompany Limited and is classified as a lease prepayment. At 1\nJanuary 2019, the remaining lease prepayment amounting to\n\u20ac384,516 was classified as right-of-use asset under property,\nplant and equipment (see note 12).
\n\u00a0
\nThe Group as a\nlessor
\nThe Group leases out\ninvestment properties under operating leases pertaining to Palm\nCity Residences (see note 13).
", "dimensions": { "concept": "ifrs-full:DisclosureOfLeasesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "tY2j4lMFJn": { "value": "17\u00a0\u00a0\u00a0\u00a0\u00a0 Inventories
\nInventories comprise\nmainly of food and beverage stocks used by the food and beverage\ndepartment, together with stock of electrical materials and spare\nparts used by the maintenance and technical department of Palm City\nLtd.
\n\u00a0
\n| \n Group \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Food and beverage\nstocks \n | \n\n 19,151 \n | \n\n 13,798 \n | \n
| \n Electrical materials\nand spare parts \n | \n\n 1,559,923 \n | \n\n 1,831,737 \n | \n
| \n Total\ninventories \n | \n\n 1,579,074 \n | \n\n 1,845,535 \n | \n
\u00a0
\nIn 2025, a total of\n\u20ac183,451 (2024 \u20ac206,908) were included in the statement\nof total comprehensive income as an expense.
", "dimensions": { "concept": "ifrs-full:DisclosureOfInventoriesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "jeMMyn_YRf": { "value": "18\u00a0\u00a0\u00a0\u00a0\u00a0 Trade and other\nreceivables
\n| \n | \n Group \n | \n\n Company \n | \n||
| \n | \n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n | \n | \n | \n | \n |
| \n Trade receivables,\ngross \n | \n\n 3,454,052 \n | \n\n 6,334,342 \n | \n\n - \n | \n\n - \n | \n
| \n Allowance for\nECL \n | \n\n (328,638) \n | \n\n (271,140) \n | \n\n - \n | \n\n - \n | \n
| \n Trade\nreceivables \n | \n\n 3,125,414 \n | \n\n 6,063,202 \n | \n\n - \n | \n\n - \n | \n
| \n Amount due by\nsubsidiaries \n | \n\n - \n | \n\n - \n | \n\n 60,511,213 \n | \n\n 30,557,254 \n | \n
| \n Amounts due by other\nrelated companies \n | \n\n 281,607 \n | \n\n 383,837 \n | \n\n 273,381 \n | \n\n 358,355 \n | \n
| \n Accrued\nincome \n | \n\n 19,854 \n | \n\n 25,742 \n | \n\n 19,853 \n | \n\n 25,742 \n | \n
| \n Financial\nassets \n | \n\n 3,426,875 \n | \n\n 6,472,781 \n | \n\n 60,804,447 \n | \n\n 30,941,351 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Advance payments to\ncreditors \n | \n\n 178,549 \n | \n\n 340,917 \n | \n\n - \n | \n\n - \n | \n
| \n VAT\nrefundable \n | \n\n 144,426 \n | \n\n 121,187 \n | \n\n 47,484 \n | \n\n 85,110 \n | \n
| \n Deposits \n | \n\n 97,404 \n | \n\n 97,460 \n | \n\n - \n | \n\n - \n | \n
| \n Other\nprepayments \n | \n\n 231,289 \n | \n\n 245,972 \n | \n\n 3,809 \n | \n\n - \n | \n
| \n Other\nreceivables \n | \n\n 128,262 \n | \n\n 35,432 \n | \n\n - \n | \n\n 3,278 \n | \n
| \n Non-financial\nassets \n | \n\n 779,930 \n | \n\n 840,968 \n | \n\n 51,293 \n | \n\n 88,388 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total trade and other\nreceivables \n | \n\n 4,206,805 \n | \n\n 7,313,749 \n | \n\n 60,855,740 \n | \n\n 31,029,739 \n | \n
\u00a0
\nAll amounts are\nshort-term. The net carrying value of trade and other receivables\nis considered a reasonable approximation of fair value.
\n\u00a0
\nThe amounts due by\nsubsidiary and other related companies are unsecured, interest free\nand repayable on demand.
\n\u00a0
\nAll of the\nGroup\u2019s trade and other receivables have been reviewed for\nindicators of impairment. Certain trade receivables were found to\nbe impaired and a provision was recorded accordingly within\n\u2018administrative expenses\u2019 in the statements of total\ncomprehensive income. The impaired trade receivables were with\nrespect to rent receivable.
\n\u00a0
\n| \n | \n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n
| \n Balance 1\nJanuary \n | \n\n 271,140 \n | \n\n 206,630 \n | \n
| \n Provision for expected\ncredit losses (ECL) \n | \n\n 57,498 \n | \n\n 64,510 \n | \n
| \n Balance 31\nDecember \n | \n\n 328,638 \n | \n\n 271,140 \n | \n
\u00a0
\nThe Group continuously\nmonitors defaults of customers and other counterparties and\nincorporates this information into its credit risk controls. The\nGroup\u2019s policy is to deal only with creditworthy\ncounterparties.
\n\u00a0
\nAn analysis of\nunimpaired trade receivables that are past due is given in note\n27.1.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherReceivablesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "PB9dFFpV-5": { "value": "19\u00a0\u00a0\u00a0\u00a0\u00a0 Shareholder\nloans
\nA shareholders\u2019\nloan agreement was signed in 2024 for a total value of \u20ac11.0\nmillion. Under this agreement, MIH agreed to make available to each\nof the shareholders a loan of \u20ac5.5 million to be utilised\nseparately for the shareholders\u2019 respective general corporate\nand funding purposes. Any drawdowns bear interest at a margin of 2%\nabove the 3-month Euribor. The final maturity date was 15 September\n2025. As at 31 December 2024, CPHCL had exercised the right to\nwithdraw the maximum loan possible. The loan and corresponding\ninterest were fully repaid during the course of 2025. The loan was\nrepaid during the current year.
", "dimensions": { "concept": "mih:DisclosureOfShareholdersLoanExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "jzUImjwgVm": { "value": "20\u00a0\u00a0\u00a0\u00a0\u00a0 Cash and cash\nequivalents
\nCash and cash\nequivalents include the following components:
\n\u00a0
\n| \n | \n Group \n | \n\n Company \n | \n||
| \n | \n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Cash at bank and in\nhand: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n - \u00a0 Euro \n | \n\n 8,688,576 \n | \n\n 6,613,384 \n | \n\n 2,375,638 \n | \n\n 1,243,517 \n | \n
| \n - \u00a0 Libyan dinar \n | \n\n 2,621,570 \n | \n\n 302,475 \n | \n\n - \n | \n\n - \n | \n
| \n - \u00a0 US dollar \n | \n\n 36,353 \n | \n\n 28,016 \n | \n\n 24,466 \n | \n\n 27,752 \n | \n
| \n - \u00a0 Pound sterling \n | \n\n 10,202 \n | \n\n 10,810 \n | \n\n 10,201 \n | \n\n 10,810 \n | \n
| \n Cash and cash\nequivalents in the statements of financial position and statements\nof cashflows \n | \n\n 11,356,701 \n | \n\n 6,954,685 \n | \n\n 2,410,305 \n | \n\n 1,282,079 \n | \n
\u00a0
\nThe Group has a\nbank deposit amounting to \u20ac1,872,271 (2024: \u20ac1,874,251)\nwhich is specifically designated for security deposits from\nlessees. This is not available for general use by the\nGroup.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCashAndCashEquivalentsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "kzLH.J48pq": { "value": "21\u00a0\u00a0\u00a0\u00a0\u00a0 Equity
\nShare\nCapital
\nThe share capital of\nMediterranean Investments Holding p.l.c. consists of fully paid\nordinary \u2018A\u2019 shares and \u2018B\u2019 shares with a\npar value of \u20ac1 each. All shares are equally eligible to\nreceive dividends and repayment of capital and represent one vote\nat the shareholders\u2019 meeting of Mediterranean Investments\nHolding p.l.c.
\n\u00a0
\n| \n | \n Group and\nCompany \n | \n|
| \n | \n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n
| \n | \n | \n |
| \n Shares\nauthorised \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 50,000,000 ordinary\n\u2018A\u2019 shares of \u20ac1 each \n | \n\n 50,000,000 \n | \n\n 50,000,000 \n | \n
| \n 50,000,000 ordinary\n\u2018B\u2019 shares of \u20ac1 each \n | \n\n 50,000,000 \n | \n\n 50,000,000 \n | \n
| \n \u00a0 \n | \n\n 100,000,000 \n | \n\n 100,000,000 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Shares issued and fully\npaid \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 24,001,000 ordinary\n\u2018A\u2019 shares of \u20ac1 each \n | \n\n 24,001,000 \n | \n\n 24,001,000 \n | \n
| \n 24,001,000 ordinary\n\u2018B\u2019 shares of \u20ac1 each \n | \n\n 24,001,000 \n | \n\n 24,001,000 \n | \n
| \n \u00a0 \n | \n\n 48,002,000 \n | \n\n 48,002,000 \n | \n
| \n | \n | \n |
| \n Dividends \n | \n\n Group and\nCompany \n | \n|
| \n Reconciliation of\ndividends proposed and paid during the years presented: \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Balance unpaid as at 1\nJanuary \n | \n\n - \n | \n\n - \n | \n
| \n Declared during the\nyear \n | \n\n 11,000,000 \n | \n\n 7,000,000 \n | \n
| \n Paid during the\nyear \n | \n\n (7,500,000) \n | \n\n (7,000,000) \n | \n
| \n Set off against related\nparty balance \n | \n\n (3,500,000) \n | \n\n - \n | \n
| \n Balance at 31\nDecember \n | \n\n - \n | \n\n - \n | \n
\u00a0
\nThe interim dividends\nwere declared on 24 April 2025, 27 August 2025 and 21 November\n2025.
", "dimensions": { "concept": "ifrs-full:DisclosureOfClassesOfShareCapitalExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "kKvagFdYKJ": { "value": "22\u00a0\u00a0\u00a0\u00a0\u00a0 Bonds
\n| \n | \n | \n | \n Group \n | \n\n Company \n | \n||
| \n | \n | \n | \n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n | \n | \n | \n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Notes \n | \n\n Interest\nrate \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|
| \n | \n | \n | \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bond IX \n | \n\n 22.1 \n | \n\n 6% \n | \n\n - \n | \n\n 11,000,000 \n | \n\n - \n | \n\n 11,000,000 \n | \n
| \n Bond X \n | \n\n 22.2 \n | \n\n 5.25% \n | \n\n 29,835,855 \n | \n\n 29,733,209 \n | \n\n 29,835,855 \n | \n\n 29,733,209 \n | \n
| \n Bond XI \n | \n\n 22.3 \n | \n\n 5.85% \n | \n\n 19,766,568 \n | \n\n 19,685,469 \n | \n\n 19,766,568 \n | \n\n 19,685,469 \n | \n
| \n | \n | \n | \n 49,602,423 \n | \n\n 60,418,678 \n | \n\n 49,602,423 \n | \n\n 60,418,678 \n | \n
| \n | \n | \n | \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Comprising: \n | \n\n | \n | \n | \n | ||
| \n | \n | \n | \n Group \n | \n\n Company \n | \n||
| \n | \n | \n | \n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n | \n | \n | \n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n | \n | \n | \n | \n | \n | \n |
| \n Current \n | \n\n - \n | \n\n 11,000,000 \n | \n\n - \n | \n\n 11,000,000 \n | \n||
| \n Non-current \n | \n\n 49,602,423 \n | \n\n 49,418,678 \n | \n\n 49,602,423 \n | \n\n 49,418,678 \n | \n||
| \n | \n | \n | \n 49,602,423 \n | \n\n 60,418,678 \n | \n\n 49,602,423 \n | \n\n 60,418,678 \n | \n
\u00a0
\nIn 2020, the Company\nissued \u20ac11.0 million unlisted 6% bond maturing in 2025 (Bond\nIX). The bond was repaid in full in 2025.
\nIn 2022, the Company\nissued \u20ac30.0 million 5.25% bond maturing in 2027 (Bond\nX).
\nIn 2023, the Company\nissued \u20ac20.0 million 5.85% bond maturing in 2028 (Bond\nXI).
\nAll of the bonds\nconstitute general, direct, unconditional, unsecured and\nunsubordinated obligations of the issuer and will rank pari passu,\nwithout any priority or preference, with all other present and\nfuture unsecured and unsubordinated obligations.\u00a0 Redemption\nof the bonds shall be made at the face value of the bonds.\u00a0The\nCompany also reserves the right to purchase from the market at any\ntime after issue, bonds for cancellation.
\nThe carrying amount of\nbonds issued by the Company is considered a reasonable\napproximation of fair value.
\n22.1\u00a0\u00a0\nBond IX
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 31 December\n2025 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
22.2\u00a0\u00a0\nBond X
\n| \n \u00a0 \n | \n\n Group \n | \n\n \u00a0Company \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2025 \n | \n\n 29,733,209 \n | \n\n 29,733,209 \n | \n
| \n Amortisation of\ntransaction costs \n | \n\n 102,646 \n | \n\n 102,646 \n | \n
| \n Balance at 31\nDecember 2025 \n | \n\n 29,835,855 \n | \n\n 29,835,855 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
Transaction costs in\nconnection with the Bond X issue were expensed in the year under\nreview.
\n\u00a0
\n22.3\u00a0\n\u00a0Bond XI
\n| \n \u00a0 \n | \n\n Group \n | \n\n \u00a0Company \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n At 1 January\n2025 \n | \n\n 19,685,469 \n | \n\n 19,685,469 \n | \n
| \n Amortisation of\ntransaction costs \n | \n\n 81,099 \n | \n\n 81,099 \n | \n
| \n Balance at 31\nDecember 2025 \n | \n\n 19,766,568 \n | \n\n 19,766,568 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
Transaction costs in\nconnection with the Bond XI issue were expensed in the year under\nreview
", "dimensions": { "concept": "ifrs-full:DisclosureOfDetailedInformationAboutBorrowingsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "n3flJxixPm": { "value": "23\u00a0\u00a0\u00a0\u00a0\u00a0 Trade and other\npayables
\nTrade and other payables\nrecognised in the statements of financial position can be analysed\nas follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Non-current \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Security\ndeposits \n | \n\n 3,583,004 \n | \n\n 3,151,953 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Current \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Trade\npayables \n | \n\n 811,113 \n | \n\n 756,443 \n | \n\n 3,275 \n | \n\n 5,434 \n | \n
| \n Amounts owed to\nshareholder \n | \n\n 459,343 \n | \n\n 251,687 \n | \n\n 459,343 \n | \n\n 251,687 \n | \n
| \n Amounts owed to other\nrelated companies \n | \n\n 133,101 \n | \n\n 174,040 \n | \n\n 1,244 \n | \n\n 2,980 \n | \n
| \n Security\ndeposits \n | \n\n 231,203 \n | \n\n 278,654 \n | \n\n - \n | \n\n - \n | \n
| \n Accrued\nexpenses \n | \n\n 3,090,892 \n | \n\n 3,813,862 \n | \n\n 1,625,721 \n | \n\n 1,713,987 \n | \n
| \n Financial\nliabilities \n | \n\n 4,725,652 \n | \n\n 5,274,686 \n | \n\n 2,089,583 \n | \n\n 1,974,088 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred\nincome \n | \n\n 8,889,787 \n | \n\n 8,505,115 \n | \n\n - \n | \n\n - \n | \n
| \n Other\npayables \n | \n\n 2,043,544 \n | \n\n 476,053 \n | \n\n 468,558 \n | \n\n 476,058 \n | \n
| \n Non-financial\nliabilities \n | \n\n 10,933,331 \n | \n\n 8,981,168 \n | \n\n 468,558 \n | \n\n 476,058 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Total trade and\nother payables \n | \n\n 15,658,983 \n | \n\n 14,255,854 \n | \n\n 2,558,141 \n | \n\n 2,450,146 \n | \n
\u00a0
\nAmounts owed to\nshareholder and other related companies are unsecured, interest\nfree and repayable on demand.
\n\u00a0
\nThe carrying value of\nfinancial liabilities is considered a reasonable approximation of\nfair value.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTradeAndOtherPayablesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "KQdDyN0RIh": { "value": "24\u00a0\u00a0\u00a0\u00a0\u00a0 Deferred tax\nliability
\nGroup
\n\u00a0
\nDeferred tax arising\nfrom temporary differences can be summarised as follows:
\n\u00a0
\n| \n | \n 2025 \n | \n\n 2024 \n | \n
| \n | \n \u20ac \n | \n\n \u20ac \n | \n
| \n Non-current\nassets \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Investment\nproperty \n | \n\n 25,873,064 \n | \n\n 25,873,064 \n | \n
| \n Unused tax losses and\nunabsorbed capital allowances \n | \n\n (1,052,995) \n | \n\n (759,816) \n | \n
| \n Other temporary\ndifferences \n | \n\n (2,997,694) \n | \n\n (2,800,390) \n | \n
| \n \u00a0 \n | \n\n 21,822,375 \n | \n\n 22,312,858 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n The movement can be\nanalysed as follows: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Movement for the\nyear \n | \n\n 490,483 \n | \n\n (1,169,742) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Recognised directly\nin equity: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred tax relating to\ndifference on foreign exchange \n | \n\n 610,710 \n | \n\n (94,992) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Recognised in profit\nor loss: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred tax on\nunabsorbed capital allowances and unused tax losses \n | \n\n (120,227) \n | \n\n (1,074,750) \n | \n
| \n \u00a0 \n | \n\n 490,483 \n | \n\n (1,169,742) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Company \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Non-current\nassets \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Investment in\nsubsidiaries and associate \n | \n\n 37,259,500 \n | \n\n 47,502,220 \n | \n
| \n Unused tax losses and\nunabsorbed capital allowances \n | \n\n (1,052,995) \n | \n\n (759,816) \n | \n
| \n \u00a0 \n | \n\n 36,206,505 \n | \n\n 46,742,404 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n The movement can be\nanalysed as follows: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Movement for the\nyear \n | \n\n 10,535,899 \n | \n\n (6,750,602) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Recognised directly\nin equity \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred tax on gain on\nfair value of investment in subsidiaries and associate \n | \n\n 10,242,720 \n | \n\n (5,833,197) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Recognised in profit\nor loss \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Deferred tax on\nunabsorbed capital allowances and unused tax losses \n | \n\n 293,179 \n | \n\n (917,405) \n | \n
| \n \u00a0 \n | \n\n 10,535,899 \n | \n\n (6,750,602) \n | \n
\u00a0
\nSee note 10 for\ninformation on the Group\u2019s and the Company\u2019s tax\n(expense) income.
", "dimensions": { "concept": "ifrs-full:DisclosureOfDeferredTaxesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "_yhLdApLx9": { "value": "25\u00a0\u00a0\u00a0\u00a0\u00a0 Cash flow adjustments and\nchanges in working capital
\nThe following non-cash\nflow adjustments and adjustments for changes in working capital\nhave been made to profit (loss) before tax to arrive at operating\ncash flow:
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Adjustments: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Depreciation \n | \n\n 362,555 \n | \n\n 369,678 \n | \n\n 727 \n | \n\n 1,111 \n | \n
| \n Interest\nincome \n | \n\n (168,963) \n | \n\n (128,643) \n | \n\n (3,342,082) \n | \n\n (2,243,134) \n | \n
| \n Interest\nexpense \n | \n\n 3,281,225 \n | \n\n 3,431,476 \n | \n\n 3,267,012 \n | \n\n 3,431,476 \n | \n
| \n Amortisation of bond\nissue costs \n | \n\n 183,745 \n | \n\n 173,417 \n | \n\n 183,745 \n | \n\n 173,417 \n | \n
| \n Unrealised difference\non foreign exchange \n | \n\n (866,587) \n | \n\n 1,433,603 \n | \n\n - \n | \n\n - \n | \n
| \n Provision for\nECL \n | \n\n 57,498 \n | \n\n 64,510 \n | \n\n - \n | \n\n - \n | \n
| \n Gain on investment in\nfinancial assets at fair value \n | \n\n (160,860) \n | \n\n (119,894) \n | \n\n (160,860) \n | \n\n (119,894) \n | \n
| \n Share in profits of\ninvestment accounted for using the equity method \n | \n\n (1,544,293) \n | \n\n (407,683) \n | \n\n - \n | \n\n - \n | \n
| \n Total\nadjustments \n | \n\n 1,144,320 \n | \n\n 4,816,464 \n | \n\n (51,458) \n | \n\n 1,242,976 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Net changes in\nworking capital: \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Change in\ninventories \n | \n\n 266,461 \n | \n\n (244,711) \n | \n\n - \n | \n\n - \n | \n
| \n Change in trade and\nother receivables \n | \n\n 2,757,158 \n | \n\n 1,414,203 \n | \n\n (26,629,524) \n | \n\n 20,420,221 \n | \n
| \n Change in trade and\nother payables \n | \n\n 2,343,823 \n | \n\n (1,559,495) \n | \n\n 263,991 \n | \n\n 51,140 \n | \n
| \n Total changes in\nworking capital \n | \n\n 5,367,442 \n | \n\n (390,003) \n | \n\n (26,365,533) \n | \n\n 20,471,361 \n | \n
26\u00a0\u00a0\u00a0\nRelated party transactions
\nThe Group\u2019s\nrelated parties include its associates, key management and others\nas described below.
\n\u00a0
\nThe Company\u2019s\nrelated parties include its subsidiaries, key management and others\nas described below.
\n\u00a0
\nUnless otherwise\nstated, none of the transactions incorporates special terms and\nconditions and no guarantees were given or received. Outstanding\nbalances are usually settled in cash.
\n\u00a0
\n26.1\u00a0\n\u00a0\u00a0Transactions with related parties
\n| \n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Consultancy and other\nservices charged to subsidiary \n | \n\n - \n | \n\n - \n | \n\n 282,848 \n | \n\n 269,380 \n | \n
| \n Consultancy and other\nfees paid to related parties \n | \n\n 187,169 \n | \n\n 225,785 \n | \n\n - \n | \n\n - \n | \n
| \n Services and expenses\nrecharged to related companies \n | \n\n 18,683 \n | \n\n 5,723 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
Balances with related\nparties are disclosed in notes 14, 15, 18, 19 and 23.
", "dimensions": { "concept": "ifrs-full:DisclosureOfTransactionsBetweenRelatedPartiesExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "WkAtrlPAik": { "value": "27\u00a0\u00a0\u00a0\nFinancial instrument risk
\nRisk management\nobjectives and policies
\nThe Group and Company\nare exposed to various risks through use of financial instruments\nwhich result from its operating, investing and financing\nactivities. The Group and Company\u2019s financial assets and\nliabilities by category are summarised in note 27.4. The main types\nof risks are credit risk, liquidity risk and market\nrisk.
\n\u00a0
\nThe Group and the\nCompany\u2019s risk management is coordinated at its head office,\nin close co-operation with the board of directors, and focuses on\nactively securing the Group and the Company\u2019s short to\nmedium-term cash flows by minimising the exposure to financial\nmarkets. Long-term financial investments are managed to generate\nlasting returns.\u00a0
\n\u00a0
\nThe Group and the\nCompany do not actively engage in the trading of financial assets\nfor speculative purposes. The most significant financial risks to\nwhich the Group and the Company are exposed are described\nbelow.
\n\u00a0
\n27.1\u00a0\u00a0\n\u00a0Credit risk
\nCredit risk is the risk\nthat a counterparty fails to discharge an obligation to the Group\nand the Company. The Group and the Company\u2019s exposure to\ncredit risk is limited to the carrying amount of financial assets\nrecognised at the end of the reporting period, as summarised\nbelow:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n|||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n Notes \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u00a0 \n | \n||
| \n Classes of financial\nassets - carrying amounts \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n Loans to subsidiary\ncompany \n | \n\n 15 \n | \n\n - \n | \n\n - \n | \n\n 7,000,000 \n | \n\n 7,000,000 \n | \n\n \u00a0 \n | \n||
| \n Trade and other\nreceivables \n | \n\n 18 \n | \n\n 3,426,875 \n | \n\n 6,472,781 \n | \n\n 60,804,447 \n | \n\n 30,941,351 \n | \n\n \u00a0 \n | \n||
| \n Shareholder\nloans \n | \n\n 19 \n | \n\n - \n | \n\n 5,500,000 \n | \n\n - \n | \n\n 5,500,000 \n | \n\n \u00a0 \n | \n||
| \n Cash and cash\nequivalents \n | \n\n 20 \n | \n\n 11,356,701 \n | \n\n 6,954,685 \n | \n\n 2,410,305 \n | \n\n 1,282,079 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 14,783,576 \n | \n\n 18,927,466 \n | \n\n 70,214,752 \n | \n\n 44,723,430 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n | \n | \n | \n | \n | \n | \n | \n | \n |
The credit risk is\nmanaged based on the Group and Company\u2019s credit risk\nmanagement policies and procedures.
\n\u00a0
\nBank balances at year\nend are mainly held with a local financial institution which has a\ncredit rating by an international credit rating agency, Standard\n& Poor\u2019s of BBB. Such rating translates into an\nimmaterial expected credit loss. Included in cash and cash\nequivalents of the Group is an amount of \u20ac2,621,570 (2024:\n\u20ac302,475) which is held in Libyan banks for which no credit\nrating is available.
\n\u00a0
\nThe Group continuously\nmonitors defaults and the credit quality of customers and other\ncounterparties, identified either individually or by group, and\nincorporates this information into its credit risk controls.\u00a0\nThe Group\u2019s policy is to deal only with creditworthy\ncounterparties.\u00a0 The standard credit terms given to customers\nis 30 days.\u00a0 The credit terms as negotiated with customers are\nsubject to an internal review process.\u00a0 The ongoing credit\nrisk is managed through regular review of ageing analysis, together\nwith credit limits per customer.
\n\u00a0
\nTrade receivables\nconsist of a large number of customers in various\nindustries.
\n\u00a0
\nTrade\nreceivables
\n\u00a0
\nThe Group applies IFRS\n9 simplified model of recognising lifetime ECL for all trade\nreceivables as these items do not have a significant financing\ncomponent.
\n\u00a0
\nIn measuring the\nexpected credit losses, the trade receivables have been assessed on\na collective basis as they possess shared credit risk\ncharacteristics.\u00a0 They have been grouped based on the days\npast due and also according to the geographical location of\ncustomers.
\n\u00a0
\nBased on the length of\ntime a trade receivable is outstanding, customer\u2019s payment\nhistory as well as current and forward-looking information on\nmacroeconomic factors affecting the customer\u2019s ability to\npay, management concluded that the credit quality of trade\nreceivables, including those that are past due but not impaired to\nbe good. Furthermore, the Group has taken a full provision against\nold balances due from local government entities, such that the\ntrade debtors primarily consist of government and non-government\nagencies situated outside of Libya. Over and above this, there is\nan amount of \u20ac8.9 million (2024: \u20ac8.5 million) in\ndeferred income and \u20ac3.8 million (2024: \u20ac3.4 million)\nheld in security deposits. Credit risk for trade receivables is\nconsidered low and ECL for trade receivables are not material.\nTrade receivables are written off when there is no reasonable\nexpectation of recovery. Failure to engage with the Group on an\nalternative payment arrangement amongst others is considered to be\nan indicator of no reasonable expectation of recovery.
\n\u00a0
\nAt 31 December, the\nGroup had certain trade receivables that have not been settled by\nthe contractual due date but are not considered to be impaired. The\namounts at 31 December, analysed by the length of time past due,\nare:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Not more than 30\ndays \n | \n\n 104,545 \n | \n\n 146,635 \n | \n
| \n More than 30 days but\nnot more than 120 days \n | \n\n 66,032 \n | \n\n 2,615,997 \n | \n
| \n More than 120\ndays \n | \n\n 801,914 \n | \n\n 997,231 \n | \n
| \n Total \n | \n\n 972,491 \n | \n\n 3,759,863 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
27.2\u00a0\u00a0\n\u00a0Liquidity risk
\nLiquidity risk is that\nthe Group and the Company may be unable to meet their\nobligations.
\n\u00a0
\nManagement manages the\nGroup\u2019s and the Company\u2019s liquidity needs by carefully\nmonitoring cash flows in day to day business.\u00a0 Liquidity needs\nare monitored in various time bands, on a daily and weekly basis,\nas well as on the basis of rolling 30-day projections.\u00a0\nLong-term liquidity needs for a 6-monthly and yearly period are\nidentified monthly.
\n\u00a0
\nThe Group and the\nCompany maintain cash to meet their liquidity requirements for the\nshort-term.\u00a0 Funding for long-term liquidity needs is secured\nby an adequate amount of committed credit facilities.
\n\u00a0
\nAs at 31 December 2025,\nthe Group and the Company\u2019s liabilities have contractual\nmaturities (including interest payments where applicable) as\nsummarised below:
\n\u00a0
\n| \n Group\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n
| \n 31 December\n2025 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds \n | \n\n - \n | \n\n - \n | \n\n 49,602,423 \n | \n\n - \n | \n
| \n Interest on\nbonds \n | \n\n - \n | \n\n 2,745,000 \n | \n\n 3,915,000 \n | \n\n - \n | \n
| \n Trade and other\npayables \n | \n\n 811,113 \n | \n\n 2,658,164 \n | \n\n 3,583,004 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n 811,113 \n | \n\n 5,403,164 \n | \n\n 57,100,427 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Company\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n
| \n 31 December\n2025 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds in\nissue \n | \n\n - \n | \n\n - \n | \n\n 49,602,423 \n | \n\n - \n | \n
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 2,745,000 \n | \n\n 3,915,000 \n | \n\n - \n | \n
| \n Trade and other\npayables \n | \n\n 3,275 \n | \n\n 829,933 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n 3,275 \n | \n\n 3,574,933 \n | \n\n 53,517,423 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
This compares to the\nmaturity of the Group and the Company\u2019s contractual\nmaturities in the previous reporting period as follows:
\n\u00a0
\n| \n Group\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n\n \u00a0 \n | \n||||||||||||||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n|||||||||||||
| \n 31 December\n2024 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n|||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||||||||||
| \n Bonds in\nissue \n | \n\n - \n | \n\n 11,000,000 \n | \n\n 49,418,678 \n | \n\n - \n | \n|||||||||||||
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 3,405,000 \n | \n\n 6,660,000 \n | \n\n - \n | \n|||||||||||||
| \n Trade and other\npayables \n | \n\n 756,443 \n | \n\n 3,102,368 \n | \n\n 3,151,953 \n | \n\n - \n | \n|||||||||||||
| \n \u00a0 \n | \n\n 756,443 \n | \n\n 17,507,368 \n | \n\n 59,230,631 \n | \n\n - \n | \n|||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||
| \n Company \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||||||||||
| \n \u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n\n \u00a0 \n | \n||||||||||||||
| \n \u00a0 \n | \n\n within\n6 \n | \n\n 6 to\n12 \n | \n\n 2 to 5 \n | \n\n later\nthan \n | \n\n \u00a0 \n | \n||||||||||||
| \n months \n | \n\n Months \n | \n\n years \n | \n\n 5\nyears \n | \n\n \u00a0 \n | \n|||||||||||||
| \n 31 December\n2024 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u00a0 \n | \n||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||||||||||||
| \n Bonds in issue \n | \n\n - \n | \n\n 11,000,000 \n | \n\n 49,418,678 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 3,405,000 \n | \n\n 6,660,000 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n Trade and other\npayables \n | \n\n 5,434 \n | \n\n 552,778 \n | \n\n - \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n \u00a0 \n | \n\n 5,434 \n | \n\n 14,957,778 \n | \n\n 56,078,678 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
\u00a0
\n27.3\u00a0\u00a0\n\u00a0Market risk
\nForeign currency\nrisk
\nGroup
\nExposure to currency\nexchange rates mainly arises from certain transactions and payments\ndenominated in Libyan dinars. Cash inflows and cash outflows in\nforeign currency are matched at subsidiary level, hence, the Group\nis only exposed to foreign currency risk as shown below.
\n\u00a0
\nForeign currency\ndenominated financial assets and liabilities, translated into euro\nat the closing rate, are as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n Short\nterm \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n LYD \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n
| \n 31 December\n2025 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial\nassets \n | \n\n \u00a0 \n | \n\n 4,742,194 \n | \n
| \n Financial\nliabilities \n | \n\n \u00a0 \n | \n\n (5,850,137) \n | \n
| \n Total\nexposure \n | \n\n \u00a0 \n | \n\n (1,107,943) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2024 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial\nassets \n | \n\n \u00a0 \n | \n\n 4,134,670 \n | \n
| \n Financial\nliabilities \n | \n\n \u00a0 \n | \n\n (7,267,523) \n | \n
| \n Total\nexposure \n | \n\n \u00a0 \n | \n\n (3,132,853) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
The following table\nillustrates the sensitivity of the net result for the year in\nregards to the Group\u2019s financial liabilities and the LYD/euro\nexchange rate.
\n\u00a0
\nThe following table\nassumes a +/- 24% change of the LYD/euro exchange rate at year end\n(2024: 3%). This percentage has been determined based on the\naverage market volatility in exchange rates in the previous 12\nmonths. The sensitivity analysis is based on the Group\u2019s\nforeign currency financial instruments held at the end of the\nreporting period.
\n\u00a0
\nIf the euro had\nstrengthened or weakened against the LYD by 24% (2024: 3%), then\nthis would have had the following impact on the net result for the\nyear.
\n\u00a0
\n| \n \u00a0 \n | \n\n Net result for the\nyear LYD \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n
| \n 31 December 2025 \n | \n\n + /-\n(265,906) \n | \n
| \n 31 December 2024 \n | \n\n + /- (93,986) \n | \n
\u00a0
\nThe analysis above is\nconsidered to be representative of the Group\u2019s exposure to\ncurrency risk.
\nInterest rate\nrisk
\nThe Group had no\nliabilities bearing interest at variable rates at the end of the\nreporting period under review and therefore is not exposed to any\ninterest rate risk. Interest exposure on its interest-bearing\nfinancial assets is considered to be not significant.
\n\u00a0
\nThe carrying amounts\npresented in the statements of financial position relate to the\nfollowing categories of assets and liabilities:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n Financial assets at\nFVOCI \n | \n\n Notes \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Shares in associate\ncompany \n | \n\n 14 \n | \n\n - \n | \n\n - \n | \n\n 8,325,961 \n | \n\n 8,526,553 \n | \n
| \n Shares in subsidiary\ncompanies \n | \n\n 15 \n | \n\n - \n | \n\n - \n | \n\n 182,277,075 \n | \n\n 213,086,282 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n - \n | \n\n - \n | \n\n 190,603,036 \n | \n\n 221,612,835 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial assets at\namortised cost \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Loans to subsidiary\ncompanies \n | \n\n 15 \n | \n\n - \n | \n\n - \n | \n\n 7,000,000 \n | \n\n 7,000,000 \n | \n
| \n Trade and other\nreceivables \n | \n\n 18 \n | \n\n 3,426,875 \n | \n\n 6,472,781 \n | \n\n 60,804,447 \n | \n\n 30,941,351 \n | \n
| \n Loans to\nshareholder \n | \n\n 19 \n | \n\n - \n | \n\n 5,500,000 \n | \n\n - \n | \n\n 5,500,000 \n | \n
| \n Cash and cash\nequivalents \n | \n\n 20 \n | \n\n 11,356,701 \n | \n\n 6,954,685 \n | \n\n 2,410,305 \n | \n\n 1,282,079 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 14,783,576 \n | \n\n 18,927,466 \n | \n\n 70,214,752 \n | \n\n 44,723,430 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial\nliabilities at amortised cost \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Non-current \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds \n | \n\n 22 \n | \n\n 49,602,423 \n | \n\n 49,418,678 \n | \n\n 49,602,423 \n | \n\n 49,418,678 \n | \n
| \n Security\ndeposits \n | \n\n 23 \n | \n\n 3,583,004 \n | \n\n 3,151,953 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 53,185,427 \n | \n\n 52,570,631 \n | \n\n 49,602,423 \n | \n\n 49,418,678 \n | \n
| \n Current \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds \n | \n\n 22 \n | \n\n - \n | \n\n 11,000,000 \n | \n\n - \n | \n\n 11,000,000 \n | \n
| \n Trade and other\npayables \n | \n\n 23 \n | \n\n 4,725,652 \n | \n\n 5,274,686 \n | \n\n 2,089,583 \n | \n\n 1,974,088 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 4,725,652 \n | \n\n 16,274,686 \n | \n\n 2,089,583 \n | \n\n 12,974,088 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
\u00a0
\nSee note 4.14 for a\ndescription of the accounting policies for each category of\nfinancial instruments. The fair values are presented in the related\nnotes.
", "dimensions": { "concept": "ifrs-full:DisclosureOfNatureAndExtentOfRisksArisingFromFinancialInstrumentsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "hTHkplBcm5": { "value": "27.1\u00a0\u00a0\n\u00a0Credit risk
\nCredit risk is the risk\nthat a counterparty fails to discharge an obligation to the Group\nand the Company. The Group and the Company\u2019s exposure to\ncredit risk is limited to the carrying amount of financial assets\nrecognised at the end of the reporting period, as summarised\nbelow:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n Group \n | \n\n Company \n | \n|||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n 2025 \n | \n\n 2024 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n Notes \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u00a0 \n | \n||
| \n Classes of financial\nassets - carrying amounts \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n Loans to subsidiary\ncompany \n | \n\n 15 \n | \n\n - \n | \n\n - \n | \n\n 7,000,000 \n | \n\n 7,000,000 \n | \n\n \u00a0 \n | \n||
| \n Trade and other\nreceivables \n | \n\n 18 \n | \n\n 3,426,875 \n | \n\n 6,472,781 \n | \n\n 60,804,447 \n | \n\n 30,941,351 \n | \n\n \u00a0 \n | \n||
| \n Shareholder\nloans \n | \n\n 19 \n | \n\n - \n | \n\n 5,500,000 \n | \n\n - \n | \n\n 5,500,000 \n | \n\n \u00a0 \n | \n||
| \n Cash and cash\nequivalents \n | \n\n 20 \n | \n\n 11,356,701 \n | \n\n 6,954,685 \n | \n\n 2,410,305 \n | \n\n 1,282,079 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n 14,783,576 \n | \n\n 18,927,466 \n | \n\n 70,214,752 \n | \n\n 44,723,430 \n | \n\n \u00a0 \n | \n||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||
| \n | \n | \n | \n | \n | \n | \n | \n | \n |
The credit risk is\nmanaged based on the Group and Company\u2019s credit risk\nmanagement policies and procedures.
\n\u00a0
\nBank balances at year\nend are mainly held with a local financial institution which has a\ncredit rating by an international credit rating agency, Standard\n& Poor\u2019s of BBB. Such rating translates into an\nimmaterial expected credit loss. Included in cash and cash\nequivalents of the Group is an amount of \u20ac2,621,570 (2024:\n\u20ac302,475) which is held in Libyan banks for which no credit\nrating is available.
\n\u00a0
\nThe Group continuously\nmonitors defaults and the credit quality of customers and other\ncounterparties, identified either individually or by group, and\nincorporates this information into its credit risk controls.\u00a0\nThe Group\u2019s policy is to deal only with creditworthy\ncounterparties.\u00a0 The standard credit terms given to customers\nis 30 days.\u00a0 The credit terms as negotiated with customers are\nsubject to an internal review process.\u00a0 The ongoing credit\nrisk is managed through regular review of ageing analysis, together\nwith credit limits per customer.
\n\u00a0
\nTrade receivables\nconsist of a large number of customers in various\nindustries.
\n\u00a0
\nTrade\nreceivables
\n\u00a0
\nThe Group applies IFRS\n9 simplified model of recognising lifetime ECL for all trade\nreceivables as these items do not have a significant financing\ncomponent.
\n\u00a0
\nIn measuring the\nexpected credit losses, the trade receivables have been assessed on\na collective basis as they possess shared credit risk\ncharacteristics.\u00a0 They have been grouped based on the days\npast due and also according to the geographical location of\ncustomers.
\n\u00a0
\nBased on the length of\ntime a trade receivable is outstanding, customer\u2019s payment\nhistory as well as current and forward-looking information on\nmacroeconomic factors affecting the customer\u2019s ability to\npay, management concluded that the credit quality of trade\nreceivables, including those that are past due but not impaired to\nbe good. Furthermore, the Group has taken a full provision against\nold balances due from local government entities, such that the\ntrade debtors primarily consist of government and non-government\nagencies situated outside of Libya. Over and above this, there is\nan amount of \u20ac8.9 million (2024: \u20ac8.5 million) in\ndeferred income and \u20ac3.8 million (2024: \u20ac3.4 million)\nheld in security deposits. Credit risk for trade receivables is\nconsidered low and ECL for trade receivables are not material.\nTrade receivables are written off when there is no reasonable\nexpectation of recovery. Failure to engage with the Group on an\nalternative payment arrangement amongst others is considered to be\nan indicator of no reasonable expectation of recovery.
\n\u00a0
\nAt 31 December, the\nGroup had certain trade receivables that have not been settled by\nthe contractual due date but are not considered to be impaired. The\namounts at 31 December, analysed by the length of time past due,\nare:
\n\u00a0
\n| \n \u00a0 \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Not more than 30\ndays \n | \n\n 104,545 \n | \n\n 146,635 \n | \n
| \n More than 30 days but\nnot more than 120 days \n | \n\n 66,032 \n | \n\n 2,615,997 \n | \n
| \n More than 120\ndays \n | \n\n 801,914 \n | \n\n 997,231 \n | \n
| \n Total \n | \n\n 972,491 \n | \n\n 3,759,863 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
27.2\u00a0\u00a0\n\u00a0Liquidity risk
\nLiquidity risk is that\nthe Group and the Company may be unable to meet their\nobligations.
\n\u00a0
\nManagement manages the\nGroup\u2019s and the Company\u2019s liquidity needs by carefully\nmonitoring cash flows in day to day business.\u00a0 Liquidity needs\nare monitored in various time bands, on a daily and weekly basis,\nas well as on the basis of rolling 30-day projections.\u00a0\nLong-term liquidity needs for a 6-monthly and yearly period are\nidentified monthly.
\n\u00a0
\nThe Group and the\nCompany maintain cash to meet their liquidity requirements for the\nshort-term.\u00a0 Funding for long-term liquidity needs is secured\nby an adequate amount of committed credit facilities.
\n\u00a0
\nAs at 31 December 2025,\nthe Group and the Company\u2019s liabilities have contractual\nmaturities (including interest payments where applicable) as\nsummarised below:
\n\u00a0
\n| \n Group\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n
| \n 31 December\n2025 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds \n | \n\n - \n | \n\n - \n | \n\n 49,602,423 \n | \n\n - \n | \n
| \n Interest on\nbonds \n | \n\n - \n | \n\n 2,745,000 \n | \n\n 3,915,000 \n | \n\n - \n | \n
| \n Trade and other\npayables \n | \n\n 811,113 \n | \n\n 2,658,164 \n | \n\n 3,583,004 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n 811,113 \n | \n\n 5,403,164 \n | \n\n 57,100,427 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Company\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n
| \n 31 December\n2025 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Bonds in\nissue \n | \n\n - \n | \n\n - \n | \n\n 49,602,423 \n | \n\n - \n | \n
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 2,745,000 \n | \n\n 3,915,000 \n | \n\n - \n | \n
| \n Trade and other\npayables \n | \n\n 3,275 \n | \n\n 829,933 \n | \n\n - \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n 3,275 \n | \n\n 3,574,933 \n | \n\n 53,517,423 \n | \n\n - \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
This compares to the\nmaturity of the Group and the Company\u2019s contractual\nmaturities in the previous reporting period as follows:
\n\u00a0
\n| \n Group\u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n\n \u00a0 \n | \n||||||||||||||
| \n \u00a0 \n | \n\n within\n6 \nmonths \n | \n\n 6 to\n12 \nmonths \n | \n\n 2 to\n5 \nyears \n | \n\n later\nthan \n5\nyears \n | \n|||||||||||||
| \n 31 December\n2024 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n|||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||||||||||
| \n Bonds in\nissue \n | \n\n - \n | \n\n 11,000,000 \n | \n\n 49,418,678 \n | \n\n - \n | \n|||||||||||||
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 3,405,000 \n | \n\n 6,660,000 \n | \n\n - \n | \n|||||||||||||
| \n Trade and other\npayables \n | \n\n 756,443 \n | \n\n 3,102,368 \n | \n\n 3,151,953 \n | \n\n - \n | \n|||||||||||||
| \n \u00a0 \n | \n\n 756,443 \n | \n\n 17,507,368 \n | \n\n 59,230,631 \n | \n\n - \n | \n|||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||
| \n Company \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n|||||||||||||
| \n \u00a0 \n | \n\n Current \n | \n\n Non-current \n | \n\n \u00a0 \n | \n||||||||||||||
| \n \u00a0 \n | \n\n within\n6 \n | \n\n 6 to\n12 \n | \n\n 2 to 5 \n | \n\n later\nthan \n | \n\n \u00a0 \n | \n||||||||||||
| \n months \n | \n\n Months \n | \n\n years \n | \n\n 5\nyears \n | \n\n \u00a0 \n | \n|||||||||||||
| \n 31 December\n2024 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u00a0 \n | \n||||||||||||
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n||||||||||||
| \n Bonds in issue \n | \n\n - \n | \n\n 11,000,000 \n | \n\n 49,418,678 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n Interest on bonds in\nissue \n | \n\n - \n | \n\n 3,405,000 \n | \n\n 6,660,000 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n Trade and other\npayables \n | \n\n 5,434 \n | \n\n 552,778 \n | \n\n - \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n \u00a0 \n | \n\n 5,434 \n | \n\n 14,957,778 \n | \n\n 56,078,678 \n | \n\n - \n | \n\n \u00a0 \n | \n||||||||||||
| \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n | \n |
27.3\u00a0\u00a0\n\u00a0Market risk
\nForeign currency\nrisk
\nGroup
\nExposure to currency\nexchange rates mainly arises from certain transactions and payments\ndenominated in Libyan dinars. Cash inflows and cash outflows in\nforeign currency are matched at subsidiary level, hence, the Group\nis only exposed to foreign currency risk as shown below.
\n\u00a0
\nForeign currency\ndenominated financial assets and liabilities, translated into euro\nat the closing rate, are as follows:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n Short\nterm \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n LYD \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u20ac \n | \n
| \n 31 December\n2025 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial\nassets \n | \n\n \u00a0 \n | \n\n 4,742,194 \n | \n
| \n Financial\nliabilities \n | \n\n \u00a0 \n | \n\n (5,850,137) \n | \n
| \n Total\nexposure \n | \n\n \u00a0 \n | \n\n (1,107,943) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2024 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Financial\nassets \n | \n\n \u00a0 \n | \n\n 4,134,670 \n | \n
| \n Financial\nliabilities \n | \n\n \u00a0 \n | \n\n (7,267,523) \n | \n
| \n Total\nexposure \n | \n\n \u00a0 \n | \n\n (3,132,853) \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
The following table\nillustrates the sensitivity of the net result for the year in\nregards to the Group\u2019s financial liabilities and the LYD/euro\nexchange rate.
\n\u00a0
\nThe following table\nassumes a +/- 24% change of the LYD/euro exchange rate at year end\n(2024: 3%). This percentage has been determined based on the\naverage market volatility in exchange rates in the previous 12\nmonths. The sensitivity analysis is based on the Group\u2019s\nforeign currency financial instruments held at the end of the\nreporting period.
\n\u00a0
\nIf the euro had\nstrengthened or weakened against the LYD by 24% (2024: 3%), then\nthis would have had the following impact on the net result for the\nyear.
\n\u00a0
\n| \n \u00a0 \n | \n\n Net result for the\nyear LYD \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n
| \n 31 December 2025 \n | \n\n + /-\n(265,906) \n | \n
| \n 31 December 2024 \n | \n\n + /- (93,986) \n | \n
\u00a0
\nThe analysis above is\nconsidered to be representative of the Group\u2019s exposure to\ncurrency risk.
\nInterest rate\nrisk
\nThe Group had no\nliabilities bearing interest at variable rates at the end of the\nreporting period under review and therefore is not exposed to any\ninterest rate risk. Interest exposure on its interest-bearing\nfinancial assets is considered to be not significant.
", "dimensions": { "concept": "ifrs-full:DisclosureOfMarketRiskExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "MK9CbqcKUj": { "value": "28\u00a0\u00a0\u00a0\nFair value measurement
\n28.1 Fair value\nmeasurement of financial instruments\u00a0
\nThe following table\npresents financial assets and liabilities measured at fair value in\nthe Group and the Company\u2019s statements of financial position\nin accordance with the fair value hierarchy.\u00a0 This hierarchy\ngroups financial assets and liabilities into three levels based on\nthe significance of inputs used in measuring the fair value of the\nfinancial assets and liabilities. The fair value hierarchy has the\nfollowing levels:
\n\u00a0
\n- \u00a0\u00a0\u00a0 Level 1: based\non quoted prices (unadjusted) in active markets for identical\nassets;
\n\u00a0
\n- \u00a0\u00a0\u00a0 Level 2: based\non information other than quoted prices included within Level 1\nthat are observable for the asset, either directly (i.e. as prices)\nor indirectly (i.e. derived from prices); and
\n\u00a0
\n- \u00a0\u00a0\u00a0 Level 3:\ninformation for the asset that is not based on observable market\ndata (unobservable inputs).
\n\u00a0
\nThe level within which\nthe financial asset or liability is classified is determined based\non the lowest level of significant input to the fair value\nmeasurement.
\n\u00a0
\nThe financial assets\nand liabilities measured at fair value in the statements of\nfinancial position are grouped into the fair value hierarchy as\nfollows:
\n\u00a0
\n| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Company \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2025 \n | \n\n Level\n1 \n | \n\n Level\n2 \n | \n\n Level\n3 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Financial assets at\nFVOCI \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Investment in\nassociate \n | \n\n - \n | \n\n - \n | \n\n 8,325,961 \n | \n
| \n Investment in\nsubsidiary \n | \n\n - \n | \n\n - \n | \n\n 182,277,075 \n | \n
| \n \u00a0 \n | \n\n - \n | \n\n - \n | \n\n 190,603,036 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2024 \n | \n\n Level\n1 \n | \n\n Level\n2 \n | \n\n Level\n3 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Financial assets at\nFVOCI \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Investment in\nassociate \n | \n\n - \n | \n\n - \n | \n\n 8,526,553 \n | \n
| \n Investment in\nsubsidiary \n | \n\n - \n | \n\n - \n | \n\n 213,086,282 \n | \n
| \n \u00a0 \n | \n\n - \n | \n\n - \n | \n\n 221,612,835 \n | \n
\u00a0
\nMeasurement of fair\nvalue
\n\u00a0
\nThe methods and\nvaluation techniques used for the purpose of measuring fair value\nare as follows:
\n\u00a0
\nFinancial assets at\nfair value through other comprehensive income
\n\u00a0
\nFair value information\nfor these financial assets has been obtained from the latest\navailable financial information.\u00a0
\n\u00a0
\nLevel 3 fair value\nmeasurements
\n\u00a0
\nThe reconciliation of\nthe carrying amounts of financial assets at fair value through\nother comprehensive income classified within Level 3 is as\nfollows:
\n\u00a0
\n| \n Company \n | \n\n 2025 \n | \n\n 2024 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n Balance at 1\nJanuary \n | \n\n 221,612,835 \n | \n\n 204,673,163 \n | \n
| \n (Loss) gain recognised\nin other comprehensive income \n | \n\n (32,554,092) \n | \n\n 16,680,147 \n | \n
| \n Other\nmovement \n | \n\n 1,544,293 \n | \n\n 259,525 \n | \n
| \n Balance at 31\nDecember \n | \n\n 190,603,036 \n | \n\n 221,612,835 \n | \n
\u00a0
\nChanging inputs to the\nLevel 3 valuations to reasonably possible alternative assumptions\nwould not change significantly amounts recognised in profit or\nloss, total assets or total liabilities or total equity.
\n\u00a0
\n28.2 Fair value\nmeasurement of non-financial assets\u00a0
\nThe following table\nshows the levels within the hierarchy of non-financial assets\nmeasured at fair value on a recurring basis at 31 December 2025 and\n2024.
\n\u00a0
\n| \n Group \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2025 \n | \n\n Level\n1 \n | \n\n Level\n2 \n | \n\n Level\n3 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Investment\nproperty \n | \n\n - \n | \n\n - \n | \n\n 272,617,020 \n | \n
| \n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n\n \u00a0 \n | \n
| \n 31 December\n2024 \n | \n\n Level\n1 \n | \n\n Level\n2 \n | \n\n Level\n3 \n | \n
| \n \u00a0 \n | \n\n \u20ac \n | \n\n \u20ac \n | \n\n \u20ac \n | \n
| \n Investment\nproperty \n | \n\n - \n | \n\n - \n | \n\n 272,617,020 \n | \n
\u00a0
\nThe fair value of the\nsubsidiary\u2019s investment property is estimated based on a\nvaluation exercise carried out by the directors. The significant\ninputs and assumptions are developed in close consultation with\nmanagement. The valuation processes and fair value changes are\nreviewed by the board of directors at each reporting date. During\nthe year under review, the valuation arrived at when using these\ninputs amounted to \u20ac279,817,000 (2024: \u20ac279,556,000) (see\nnote 13).
", "dimensions": { "concept": "ifrs-full:DisclosureOfFairValueMeasurementExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "maDobEQGoh": { "value": "29\u00a0\u00a0\u00a0\nCapital management policies and procedures
\nThe board\u2019s\npolicy is to maintain a strong capital base so as to maintain\ninvestors\u2019 and creditors\u2019 and market confidence and to\nsustain future development of the business.\u00a0 The board of\ndirectors monitors the return on capital, which the Group and the\nCompany define as the profit for the year divided by total\nequity.
\n\u00a0
\nThe directors seek to\nmaintain a balance between the higher returns that might be\npossible with higher levels of borrowings and advantages and\nsecurity afforded by a sound capital position.\u00a0 The Group and\nthe Company seek to maximise the return on shareholders\u2019\nequity and to reduce the incidence of interest\nexpenses.\u00a0
\n\u00a0
\nThere were no changes\nin the Group and the Company\u2019s approach to capital management\nduring the year.\u00a0 Neither the Company nor any of its\nsubsidiaries is subject to externally imposed capital\nrequirements.
", "dimensions": { "concept": "ifrs-full:DisclosureOfObjectivesPoliciesAndProcessesForManagingCapitalExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "GOY3FGTkcr": { "value": "30\u00a0\u00a0\u00a0\nPurchase commitments
\nIn line with the\ncapital management policy, the Group entered into various purchase\ncommitments during the year related to capital expenditure\namounting to \u20ac0.4 million (2024: \u20ac1.6 million). These\ncommitments are expected to be funded through the Group's operating\ncash flows. The Group continuously monitors its purchase\ncommitments to ensure they align with its strategic objectives and\nfinancial capacity.
", "dimensions": { "concept": "ifrs-full:DisclosureOfCommitmentsExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "y-4uFvFuMl": { "value": "31\u00a0\u00a0\u00a0Ultimate controlling party\nMediterranean\nInvestments Holding p.l.c. is 50% owned by CPHCL Company Limited\n(CPHCL) of 22, Europa Centre, Floriana, FRN 1400 and 50% owned by\nKuwaiti National Investment Holding Ltd (KNIH) of Al Khatem Tower,\nUnit 6, 5th Floor ADGM Square, Al Maryah Island, Abu Dhabi 000,\nUnited Arab Emirates.\n\u00a0\nOn 13 April 2026,\nthe\u00a0Company announced\u00a0that it\u00a0entered into a Share\nPurchase Agreement with\u00a0International Hotel Investments p.l.c.\n(IHI) , CPHCL Company Limited (CPHCL) and Kuwaiti National\nInvestment Holding Limited (KNIH). Pursuant to this agreement KNIH\nhas agreed to sell the totality of its 50% holding of the issued\nshare capital of MIH, such that 25% thereof will be acquired by\nCPHCL and the remaining 25% will be acquired by IHI. Completion of\nthis transaction is anticipated to take place on 30 June\n2026.", "dimensions": { "concept": "ifrs-full:ExplanationOfRelationshipsBetweenParentsAndEntity", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "F.Qc1mMvdE": { "value": "Mediterranean\nInvestments Holding p.l.c.", "dimensions": { "concept": "ifrs-full:NameOfUltimateParentOfGroup", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } }, "yCL0qHB6SZ": { "value": "32\u00a0\u00a0\u00a0\nPost-reporting date events
\nNo adjusting or\nsignificant non-adjusting events have occurred between the end of\nthe reporting period and the date of authorisation by the\nboard.
", "dimensions": { "concept": "ifrs-full:DisclosureOfEventsAfterReportingPeriodExplanatory", "language": "en", "entity": "scheme:213800BEHWHFJ6UYZR18", "period": "2025-01-01T00:00:00/2026-01-01T00:00:00" } } } }