PLANET HOLDING LTD

• ⚠

  Annual accounts overdue

  Due 2025-12-31.

Accounting basis

IFRS

Reporting scope

Consolidated group

Auditor

Deloitte LLP

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As of December 31, 2023, the Group reported a consolidated net loss of $44.07 million, net liabilities of $32 million, and negative operating cash flows of $5.9 million, stemming from previous years' losses mainly connected to the investments and operating expenses of the Group's real estate projects. Given the overall financial position of the Group and the material uncertainty related to being able to estimate the timing and quantum of cash inflows as part of the Company's capital raising activities and the timing of dividend receipts from underlying subsidiaries of the Company has generated the necessity to assess the ability of the Group to continue as a going concern. In assessing the appropriateness of the going concern assumption, the Directors have considered: i. the cash requirements of the business to pursue its intended objectives and strategy; ii. potential variations in cash requirements of the Group taking into account severe yet plausible downside scenarios that appropriately reflect the current uncertainties of the Group meeting its future cashflow forecasts and budgets; iii. Proposed/committed additional capital injections by existing and new investors; and iv. dividend receipts from underlying subsidiaries of the Company. The Directors note that, as stated in note 29, subsequent to the year end, the shareholders of the Company have approved a capital raise amounting to $16.3 million (€15.0 million) and for which binding subscription letters have been signed and issued. This initial capital increase is part of a larger capital raising activity amounting to approximately $52.5 million (€50.0 million) and will be funded through cash and convertible debt. Furthermore, the Directors expect positive future cashflows from real estate projects amounting to $8.5 million in the twelve months after the approval of the financial statements. The uncertainty regarding the ability to estimate the timing and quantum of future cash inflows generated by the capital raising activities and the timing of dividend receipts represents a material uncertainty that may cast significant doubt on the Group's ability to continue as a going concern. In spite of this, the Directors have considered cash inflows, and budget projections and the flexibility in managing those flows of dividends and investments, as already demonstrated in prior years. As such, the Directors reasonably expect the Group to continue to meet its liabilities as they fall due and sustain operational existence for at least twelve months from the date of the signing of these financial statements, leading to the adoption of the going concern basis for preparing the consolidated financial statements.”

Group structure

1. PLANET HOLDING LTD · parent
   1. Planet Holding Brazil Participações Ltda 100% · Brazil · Holding Company
   2. Planet Service Brasil Ltda 100% · Brazil · Service
   3. SG Desenv. Urban. Brazil Ltda 100% · Brazil · Commercial Services
   4. Planet HBX Ed.3 Brazil Urbanismo Ltda 51% · Brazil · Real Estate
   5. KP-Planet Real Estate Pvt Ltd 51% · India · Real Estate
   6. Snowflower Private Ltd 80% · India · Real Estate
   7. Planet Holding USA Inc. 100% · USA · Holding Company
   8. Palladium Little Elm Phase II Ltd 40% · USA · Real Estate

Significant events

• “In 2025 the shareholders of the Company have approved a capital raise amounting to $16.3 million (€15.0 million) and for which binding subscription letters have been signed and issued. This initial capital increase is part of a larger capital raising activity amounting to approximately $52.5 million (€50.0 million) and will be funded through cash and convertible debt.”
• “Planet Next S.r.l. has been sold in 2024”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

10

last 12 months

Capital events

2

last 24 months

Officers appointed

2

last 12 months

Officers resigned

2

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.