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SUMMARY OF
CONSOLIDATED ACCOUNTS
Consolidated income statement – Analytical form
(x 1,000 EUR)
31.12.2015
31.12.2014
A. NET CURRENT RESULT
Rental income, net of rental-related expenses
201,903
195,827
Writeback of lease payments sold and discounted (non-cash)
10,214
15,931
Taxes and charges on rented properties not recovered
-3,478
-2,756
Redecoration costs, net of tenant compensation for damages
-1,105
-928
Property result
207,534
208,074
Technical costs
-5,643
-3,802
Commercial costs
-950
-1,137
Taxes and charges on unlet properties
-3,451
-3,922
Property result after direct property costs
197,490
199,213
Property management costs
-15,343
-14,295
Property operating result
182,147
184,918
Corporate management costs
-7,806
-7,176
Operating result (before result on portfolio)
174,341
177,742
Financial income (IAS 39 excluded)
1
5,735
5,577
Financial charges (IAS 39 excluded)
2
-42,970
-57,009
Revaluation of derivative financial instruments (IAS 39)
-30,403
-136,143
Share in the result of associated companies and joint ventures
460
1,180
Taxes
-4,209
-2,493
Net current result
102,954
-11,146
Minority interests
-5,248
-4,509
Net current result – Group share
97,706
-15,655
B. RESULT ON THE PORTFOLIO
Gains or losses on disposals of investment properties and other non-financial assets
22,425
-22,441
Changes in fair value of investment properties
-8,620
-5,455
Share in the result of associated companies and joint ventures
127
Other result on the portfolio
-8,310
-10,378
Result on the portfolio
5,495
-38,147
Minority interests
766
1,131
Result on the portfolio – Group share
6,261
-37,016
C. NET RESULT
Net result
108,449
-49,293
Minority interests
-4,482
-3,378
Net result – Group share
103,967
-52,671
1
IAS 39 included, at 31.12.2015 and 31.12.2014, financial income stood at 5,735 thousand EUR and 5,577 thousand EUR, respectively.
2
IAS 39 included, at 31.12.2015 and 31.12.2014, financial expenses stood at --73,373 thousand EUR and -193,152 thousand EUR respectively.
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Management report /
Summary of consolidated accounts