Annual financial report 2013

\ 63

Quarterly Consolidated Accounts

\ Management Report

QUARTERLY

CONSOLIDATED

ACCOUNTS

Consolidated global result per quarter

(income statement)

(x €1,000)

Q1 2013

Q2 2013

Q3 2013

Q4 2013

2013

A. NET RESULT

Rents

49,276

49,586

49,567

49,026

197,455

Cost of rent-free periods

-587

-559

-627

-706

-2,479

Client incentives

-212

-140

-141

-138

-631

Rental indemnities

102

156

585

846

Writeback of lease payments sold and discounted

6,319

25,276

Rental-related expenses

-5

-2

-19

-6

Net rental income

54,893

55,360

55,102

55,106

220,461

Recovery of property charges

-10

101

Recovery income of charges and taxes normally payable

by the tenant on let properties

10,140

10,749

12,089

15,848

48,826

Costs payable by the tenant and borne by the landlord on rental damage

and redecoration at end of lease

-349

-55

-334

-539

-1,277

Charges and taxes normally payable

by the tenant on let properties

-10,770

-11,291

-12,716

-16,425

-51,202

Property result

53,993

54,753

54,141

54,022

216,909

Technical costs

-751

-975

-441

-2,947

-5,114

Commercial costs

-392

-206

-114

-244

-956

Taxes and charges on unlet properties

-955

-1,174

-965

-981

-4,075

Property management costs

-4,058

-3,748

-3,459

-2,993

-14,258

Property charges

-6,156

-6,103

-4,979

-7,165

-24,403

Property operating result

47,837

48,650

49,162

46,857

192,506

Corporate management costs

-1,732

-1,730

-1,581

-1,844

-6,887

Operating result before result on the portfolio

46,105

46,920

47,581

45,013

185,619

Gains or losses on disposal of investment properties

and other non-financial assets

573

-232

-597

403

147

Change in the fair value of investment properties

-6,298

-5,420

-7,848

-6,694

-26,260

Other result on the portfolio

-694

-682

-570

-20,737

-22,683

Operating result

39,686

40,586

38,566

17,985

136,823

Financial income

1,315

1,217

1,770

1,421

5,723

Net interest charges

-17,245

-15,865

-16,634

-16,299

-66,043

Other financial charges

-23

-887

-28

-929

Change in the fair value of financial assets and liabilities

-9,643

-1,086

-2,968

-13,686

Financial result

-15,942

-25,178

-15,978

-17,837

-74,935

Share in the result of associated companies and joint ventures

191

540

476

330

1,537

The Group did not publish any quarterly information between 31.12.2013 and the time of writing of this Annual Financial Report.

The half-year and annual figures are verified by the Auditor Deloitte, Company Auditors.