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Annual Accounts /
Notes to the Consolidated Accounts
NOTE 30.
RESERVES
(x €1,000)
2013
2012
Legal reserve
1,735
1,662
Reserve for the balance of changes in the fair value of investment properties
-144,422
-150,059
Reserve for the estimated transaction costs and transfer duties resulting
from the hypothetical disposal of investment properties
-75,715
-71,424
Reserve for the balance of changes in the fair value of authorised hedging instruments
qualifying for hedge account
-88,745
-157,113
Reserve for the balance of changes in the fair value of authorised hedging instruments
not qualifying for hedge accounting as defined under IFRS
-37,553
-1,479
Other
585,965
568,956
Tax-exempt reserves
3,037
2,685
Distributable reserves
582,928
566,271
TOTAL
241,265
190,543
The reserves are presented before appropriation of the result of the financial year.
NOTE 31.
RESULT PER SHARE
The calculation of the result per share at the closing date is based on the
net current result/net result attributable to the ordinary and preference
shareholders of k€104,924 (2012: k€97,486)/k€58,737 (2012: k€98,072) and
a number of ordinary and preference shares entitled to share in the result of
the period ended 31.12.2013 of 17,593,767 (2012: 16,015,572
1
).
The net current result - excluding IAS 39 impact stands at k€119,209 for the
financial year 2013. Per share, this result amounts to €6.78.
The diluted result per share takes into account the impact of a theoretical
conversion of the convertible bonds issued by Cofinimmo, of the mandatory
convertible bonds issued by Cofinimur I and of the stock options
1
Including 8,000 own shares sold in January2013 and entitled to the dividend of the financial year 2012.
2
In accordance with IAS33, the convertible bonds are excluded from the calculation of the diluted net result of 2012 and 2013, as they would have an accretive impact on the diluted
result per share.
3
The calculation method of the diluted net result was reviewed in 2013. The 2012 diluted net result - Group share was recalculated based on the method applied in 2013.
Result attributable to the ordinary and preference shares
(x €1,000)
2013
2012
Net current result attributable to the ordinary and preference shares
104,924
97,486
Net current result of the period
109,930
101,192
Minority interests
-5,006
-3,706
Result on the portfolio attributable to the ordinary and preference shares
-46,187
586
Result on the portfolio of the period
-48,066
1,503
Minority interests
1,879
-917
Net result attributable to the ordinary and preference shares
58,737
98,072
Net result of the period
61,864
102,695
Minority interests
-3,127
-4,623
Diluted result per share
(in €)
2013
2012
Net result
58,736,945
98,071,556
Number of ordinary and preference shares entitled to share in the result of the period
17,593,767
16,015,572
Net current result per share - Group share
5.96
6.09
Result on the portfolio per share - Group share
-2.62
0.03
Net result per share - Group share
3.34
6.12
Diluted net result - Group share
54,350,041
96,485,853
Number of ordinary and preference shares entitled to share in the result of the period taking into account the
theoretical conversion of the convertible bonds, of the mandatory convertible bonds and of the stock options
16,945,296
2
15,907,128
2.3
Diluted net result per share - Group share
3.21
2
6.07
2.3