STRONG
FOUNDATIONS
TODAY EMPOWER GROWTH
FOR TOMORROW
ANNUAL REPORT 2025
STRONG
FOUNDATIONS
TODAY EMPOWER GROWTH
FOR TOMORROW
ANNUAL REPORT 2025
WHERE STRENGTH MEETS PURPOSE
Progress isn’t accidental; it is architectural.
This year, the triangle guides our narrative: a broad, unshakable base rising to a clear peak. It reflects our philosophy that stability supports ambition. This shape mirrors Lavastone’s logo, a reminder that every development is intentional, every line crafted to endure.
Our focus has been on strengthening that base. Because foundations do more than hold weight; they decide the height, the form, and the future of what can rise. When the ground is sure, ideas find space, opportunities take root, and growth becomes possible. At Lavastone, we build with patience, knowing that what is grounded today will stand tall tomorrow and carry meaning for generations to come.
Reporting scope and boundary
This integrated report covers the activities and performance of Lavastone Ltd (“Lavastone” or the “Company”) for the period 01 October 2024 to 30 September 2025. 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 principles and 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
The digital version of this integrated report is available on our website: https://lavastone.mu/annual-report-2025 Your feedback is important to us and will contribute to improving the quality and relevance of our future reports. We invite you to share your views and comments with us by emailing us on info@lavastone.mu.