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NOTE 31. RESERVES
(x 1,000 EUR)
2015
2014
Reserve for the balance of changes in the fair value of investment properties
-175,817
-127,851
Reserve for the estimated transaction costs and transfer duties resulting from the hypothetical disposal of
investment properties
-71,725
-73,694
Reserve for the balance of changes in the fair value of authorised hedging instruments qualifying for hedge
accounting as defined under IFRS
-9,673
-32,370
Reserve for the balance of changes in the fair value of authorised hedging instruments not qualifying for hedge
accounting as defined under IFRS
-85,175
-13,851
Other
469,987
495,328
Non-distributable reserves
5,212
5,053
Distributable reserves
464,775
490,275
TOTAL
127,597
247,562
The reserves are presented before appropriation of the result of the financial year. The drop of reserves in 2015 is mainly explained by the appro-
priation of the 2014 result and the dividends paid for the financial year 2014.
NOTE 32. RESULT PER SHARE
The calculation of the result per share at balance sheet date is based
on the net current result/net result attributable to ordinary and prefer-
ence shareholders of 97,706 K EUR (2014: -115,655 K EUR)/103,967 K EUR
(2014: -52,671 K EUR) and a number of ordinary and preference shares
outstanding and entitled to share in the result of the period ended
31.12.2015 of 19,888,379 (2014: 17,971,494).
The net current result excluding IAS 39 impact stands at 128,518 K EUR
for the financial year 2015. Per share, this result amounts to 6.46 EUR.
The diluted result per share takes into account the impact of a theoret-
ical conversion of the convertible bonds issued by Cofinimmo, of the
mandatory convertible bonds issued by Cofinimur I and of the stock
options.
1
In accordance with IAS 33, the convertible bonds are excluded from the calculation of the diluted net result of 2014, as they would have an accretive impact on the diluted result
per share. The 2011 convertible bond is taken into account in the calculation of the diluted net result in 2015.
Result attributable to the ordinary and preference shares
(x 1,000 EUR)
2015
2014
Net current result attributable to ordinary and preference shares
97,706
-15,655
Net current result for the period
102,955
-11,146
Minority interests
-5,248
-4,509
Result on portfolio attributable to ordinary and preference shares
6,261
-37,016
Result on portfolio for the period
5,495
-38,147
Minority interests
766
1,131
Net result attributable to ordinary and preference shares
103,967
-52,671
Net result for the period
108,449
-49,293
Minority interests
-4,482
-3,378
Diluted result per share
(in EUR)
2015
2014
Net result - Group share
103,966,729 -52,670,758
Number of ordinary and preference shares entitled to share in the result of the period
19,888,379
17,971,494
Net current result per share - Group share
4.91
-0.87
Result on portfolio per share - Group share
0.32
-2.06
Net result per share - Group share
5.23
-2.93
Diluted current result - Group share
101,109,109 -57,043,668
Number of ordinary and preference shares entitled to share in the result of the period taking into account the
theoretical conversion of the Mandatory Convertiblke Bonds (MCB) and the stock options
20,759,209
1
17,285,009
1
Diluted net result per share - Group share
4.87
1
-3.30
1
194
ANNUAL ACCOUNTS /
Notes to the consolidated accounts