STEADY
GROWTH

IN A CHANGING WORLD

ANNUAL REPORT 2024

In a fast-paced world that values speed above all, Lavastone embraces a vision rooted in patience and purpose. We choose measured progress over rapid gains, carefully creating spaces that carry meaning and endurance. Our approach lies in building with intention, with every project designed to stand strong through generations, reflecting the same resilience and character as the heritage properties we steward.

Reporting scope and boundary

This integrated report covers the activities and performance of Lavastone Ltd (“Lavastone” or the “Company”) for the period 01 October 2023 to 30 September 2024. The reporting boundary includes Lavastone, its subsidiaries and associates, collectively referred to as “Lavastone Properties” or the “Group”.

This report communicates both financial and non-financial information relating to Lavastone’s strategy, business model, operational performance, materials risks and opportunities, and governance practices. It aims to offer Lavastone’s stakeholders with comprehensive, relevant information on how the Group creates value over the short, medium and long term, supporting more informed decision-making.

FRAMEWORKS AND GUIDELINES

  • The International Financial Reporting Standards (“IFRS”)
  • The guidelines contained within the Integrated Reporting Framework provided by the International Integrated Reporting Council (“IIRC”)
  • The National Code on Corporate Governance 2016 (“the Code”)
  •  The DEM Rules
  •  The Companies Act 2001
  •  The Securities Act 2005

OUR APPROACH TO MATERIALITY

This report covers information and matters we believe to be material to our stakeholders, including shareholders, fund providers, regulators, customers, employees and community members. A matter is considered material if Lavastone Properties’ senior management and those responsible for the governance of the organisation believe it could significantly impact the value created and delivered in the short, medium and long term.

Board’s responsibility statement

The Board of Directors of Lavastone Properties acknowledges its responsibility for ensuring the integrity of this report. The Board confirms that it has collectively reviewed the report’s contents and is satisfied that it offers a fair representation of the Group’s integrated performance.

Feedback

We are committed to improving our reporting practices each year for the benefit of all our stakeholders. We encourage you to share your views and comments on our integrated report by emailing us on info@lavastone.mu.