PMM Global II K/S - CVR: 32471560

2022, EUR

06.02.2024

Bruttoresultat

-4.697'

Primær drift

4.697'

Årets resultat

-5.594'

Aktiver

8.087'

Kortfristede aktiver

0

Egenkapital

7.851'

Afkastningsgrad

58 %

Soliditetsgrad

97 %

Likviditetsgrad

0 %

Resultat

06.02.2024

Årsrapport	2022 06.02.2024	2021 08.02.2023	2020 10.02.2022	2019 01.03.2021	2018 25.02.2020	2017 06.02.2019
Nettoomsætning	2.492.000	7.000	1.083.000	2.369.000	8.683.000	2.775.000
Bruttoresultat	-4.697.000	-5.504.000	-2.031.000	-7.713.000	-4.276.000	547.000
Resultat af primær drift	4.697.000	5.504.000	0	0	-4.276.000	0
Indtægter af kapitalandele (tilknyttede og associerede)	0	0	0	100.000	-15.000	721.000
Finansielle indtægter	938.000	2.330.000	821.000	1.195.000	8.116.000	3.343.000
Finansieringsomkostninger	-1.835.000	-126.000	-77.000	-4.438.000	-4.665.000	-5.013.000
Andre finansielle omkostninger	0	0	0	0	0	0
Resultat før skat	0	0	0	0	0	0
Resultat	-5.594.000	-3.300.000	-1.287.000	-10.856.000	-840.000	-402.000
Forslag til udbytte	0	0	0	0	0	0

Aktiver

06.02.2024

Årsrapport	2022 06.02.2024	2021 08.02.2023	2020 10.02.2022	2019 01.03.2021	2018 25.02.2020	2017 06.02.2019
Kortfristede varebeholdninger	0	0	0	0	0	0
Kortfristede tilgodehavender fra salg og tjenesteydelser	0	0	0	0	44.000	169.000
Likvider	0	15.000	0	0	2.591.000	64.000
Kortfristede aktiver	0	15.000	0	0	2.635.000	233.000
Immaterielle aktiver og goodwill	0	0	0	0	0	0
Finansielle anlægsaktiver	0	0	24.269.000	28.848.000	68.069.000	92.441.000
Materielle aktiver	0	0	0	0	0	0
Langfristede aktiver	8.087.000	15.743.000	0	28.848.000	68.069.000	92.441.000
Aktiver	8.087.000	15.758.000	24.269.000	28.848.000	70.704.000	92.674.000

Aktiver

06.02.2024

Passiver

06.02.2024

Årsrapport	2022 06.02.2024	2021 08.02.2023	2020 10.02.2022	2019 01.03.2021	2018 25.02.2020	2017 06.02.2019
Forslag til udbytte	0	0	0	0	0	0
Egenkapital	7.851.000	15.654.000	23.911.000	28.689.000	47.808.000	69.929.000
Hensatte forpligtelser	0	0	0	0	0	0
Langfristet gæld til banker	0	0	0	0	0	0
Anden langfristet gæld		0	0	0	0	0
Leverandører af varer og tjenesteydelser	0	0	0	0	0	0
Kortfristede forpligtelser	0	0	0	159.000	22.896.000	22.745.000
Gældsforpligtelser	236.000	104.000	358.000	159.000	22.896.000	22.745.000
Forpligtelser	236.000	104.000	358.000	159.000	22.896.000	22.745.000
Passiver	8.087.000	15.758.000	24.269.000	28.848.000	70.704.000	92.674.000

Passiver

06.02.2024

Nøgletal

06.02.2024

Årsrapport	2022 06.02.2024	2021 08.02.2023	2020 10.02.2022	2019 01.03.2021	2018 25.02.2020	2017 06.02.2019
Afkastningsgrad	58,1 %	34,9 %	Na.	Na.	-6,0 %	Na.
Dækningsgrad	-188,5 %	-78.628,6 %	-187,5 %	-325,6 %	-49,2 %	19,7 %
Resultatgrad	-224,5 %	-47.142,9 %	-118,8 %	-458,3 %	-9,7 %	-14,5 %
Varelagerets omsætningshastighed	Na.	Na.	Na.	Na.	Na.	Na.
Egenkapitals-forretning	-71,3 %	-21,1 %	-5,4 %	-37,8 %	-1,8 %	-0,6 %
Payout-ratio	Na.	Na.	Na.	Na.	Na.	Na.
Gældsdæknings-nøgletal	256,0 %	4.368,3 %	Na.	Na.	-91,7 %	Na.
Soliditestgrad	97,1 %	99,3 %	98,5 %	99,4 %	67,6 %	75,5 %
Likviditetsgrad	Na.	Na.	Na.	Na.	11,5 %	1,0 %

Resultat

06.02.2024

Gæld

06.02.2024

Årsrapport

06.02.2024

Nyeste:01.10.2022- 30.09.2023(offentliggjort: 06.02.2024)

Oplysning om eventualaktiver:Alle beløb er angivet i 'x1000'Contractual obligations and contingencies, etc,EUR millionCommitment (original)Residual commitmentFundCurrencyEURCurrencyEURSBC LHF IUSD 15. 011,90USD 0. 00,00GodrejINR 1. 375. 018,40INR 546. 86,20HungerfordCAD 15. 010,70CAD 0. 90,60Longbow IIIGBP 6. 98,40GBP 0. 00,00CITICUSD 10. 08,60USD 0. 00,00Savanna IIAUSD 5. 04,00USD 0. 30,30Total Company62,007,20

Beretning

06.02.2024

Dato for ledelsens godkendelse af årsrapporten:2023-12-15

Ledelsespåtegning:Statement by the Board of Directors

Beskrivelse af usikkerhed ved indregning eller måling:Recognition and measurement uncertaintiesInvestments in associates and property investments are measured at fair value. The measurementincludes accounting estimates and is, therefore, subject to uncertainty.

Beskrivelse af usædvanlige forhold, der kan have påvirket indregningen eller målingen:Uncertainty in the global markets driven by geopolitical risksThe financial year 2022/23 has been one of continued uncertainty on the back of geopolitical issuesaround the world and not least in Europe with the Russian war against Ukraine. In addition, we have seen tight labour markets and wage inflation during the year and a generally highinflationary environment. However, we are starting to see inflation levels coming down due to decreas-ing energy prices and within the real estate construction industry, we also see the cost of raw materialsreturning to normal prices. In reaction to increased inflation, the rising interest rates have impacted real estate capital markets ma-terially, leading to a significant drop in transaction volumes across the globe. With the magnitude of in-creased interest rates the risk premium for real estate has expanded and sellers and buyers are stillsomewhat separated on the market, although some markets have adjusted more quickly like the UnitedKingdom. Traditional bank debt availability is much more limited and at lower loan to value ratios, whichhas had an impact on both prices and transaction activity. As a consequence, we have experienced lim-ited sales activities in PMM Global II9s portfolio during the financial year. The aftermath of Covid-19 has had severe effect on some of the traditional strong cosmopolitan officemarkets, especially in the US, where office usage levels are far from prior levels and office occupiers arereconsidering their space requirements. On top of this, ESG matters and the decarbonization demand isbeing emphasized by occupiers, investors and not least by regulatory environmental requirements. Thisrequires additional CAPEX measures to be taken into consideration especially for older office stock. All these external factors influence the pricing of real estate and the reduced liquidity makes it more dif-ficult for valuers to determine fair value. The increase in base interest rates, margin pressure and re-duced leverage levels have had and will for some markets still have an impact on real estate valuations. For some markets and especially within residential and industrial, we have seen rental inflation partiallyoff-set some of the aforementioned negative price adjustments. However, the end result varies depend-ing on sector, project type and location of the specific assets. For the four remaining investments in PMM Global II K/S, we have therefore also seen quite some vary-ing results. Especially, some of the investments holding assets in emerging markets have continued toface difficult market conditions. We have stayed in close contact with our partners throughout the year to assess the consequences andthe business plans have been adjusted to the environment where necessary. FinancingIn the financial year, the investors in the Company have not made capital injections (cash calls). Theinvestors have received exit distributions of EUR 1,793 thousand. The limited partners9 committed capital totaled EUR 200. 4 million. Undrawn capital amounted to EUR22. 9 million. There is not assessed to be any risk in connection with payment of the undrawn commit-ment.

Statement by Management on the annual report

Identifikation af den godkendte årsrapport:Today, the Management has discussed and approved the annual report of PMM Global II K/S for the financial year 1 October 2022 ‑ 30 September 2023.

Management's review

Beskrivelse af virksomhedens væsentligste aktiviteter:Business reviewPMM Global II K/S' business concept is investment in and management of indirect investments in foreignproperty via international operating partners. Long-term return expectationsThe Fund is projected to generate an attractive net internal rate of return (IRR) of around 10% over itslifetime.