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Financial results

Consolidated comprehensive result - Form Royal Decree of 13.07.2014 (x 1,000 EUR)

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A. NET RESULT 31.03.2020 31.03.2019 31.03.2018 31.03.2017 31.03.2016
Rental income  122 760  111 391 103 421  104 082  99 765
Writeback of lease payments sold and discounted  4 722  4 392 4 736  6 237  5 633
Rental-related expenses - 1 933   678 -  278   125 -  2
Net rental income  125 549  116 460 107 879  110 444  105 396
Recovery of property charges   252   59 -  23  1 657   44
Recovery income of charges and taxes normally payable by the tenant on let properties  28 397  31 646 31 973  33 495  30 493
Costs payable by the tenant and borne by the landlord on rental damage and redecoration at end of lease   21 - 1 255 -  762 - 1 388 -  883
Charges and taxes normally payable by the tenant on let properties - 31 378 - 38 471 -37 864 - 36 878 - 33 089
Property result  122 841  108 440 101 203  107 330  101 961
Technical costs - 1 411 - 2 383 -1 542 - 2 857 - 3 494
Commercial costs - 1 265 -  713 -  994 -  806 -  465
Taxes and charges on unlet properties - 2 457 - 2 870 -3 614 - 4 092 - 2 892
Property management costs - 12 250 - 10 950 -9 447 - 9 577 - 10 409
Property charges - 17 383 - 16 916 -15 597 - 17 332 - 17 260
Property operating result  105 458  91 523 85 606  89 998  84 701
Corporate management costs - 5 250 - 4 693 -4 048 - 4 104 - 4 868
Operating result before result on the portfolio  100 208  86 830 81 558  85 894  79 833
Gains or losses on disposals of investment properties  3 350  3 001 27 731   423  1 412
Changes in fair value of investment properties  7 697  35 073 4 901 - 7 870  11 718
Other result on the portfolio - 24 171 - 8 729 -2 045 - 3 385 -  764
Operating result  87 084  116 175 112 145  75 062  92 199
Financial income  4 608  5 606 6 146  2 704  2 553
Net interest charges - 11 666 - 12 331 -15 212 - 14 977 - 16 861
Other financial charges -  364 -  281 -  332 -  407 -  632
Changes in fair value of financial assets and liabilities - 19 112 - 32 222 -  928  7 216 - 37 482
Financial result - 26 534 - 39 228 -10 326 - 5 464 - 52 422
Share in the result of associated companies and joint ventures   270 -  183   394   236   548
Pre-tax result  60 820  76 764 102 213  69 834  40 326
Corporate tax - 2 465 - 2 983 -1 966 - 1 904 - 2 842
Exit tax -  916 -  201   269 -  76 -  92
Taxes - 3 382 - 3 184 -1 697 - 1 980 - 2 934
Net result  57 439  73 580 100 516  67 854  37 392
Minority interests  2 359 - 2 584 -2 929 - 2 685 - 2 787
Net result - Group share  59 798  70 997 97 587  65 169  34 605
B. OTHER ELEMENTS OF THE GLOBAL RESULT RECYCABLE IN THE INCOME STATEMENT 31.03.2020 31.03.2019 31.03.2018 31.03.2017 31.03.2016
Impact on fair value of estimated transaction costs resulting from hypothetical disposal of investment properties          
Change in the effective part of the fair value of authorised cash flow hedging instruments as defined under IFRS          
Impact of the recycling on the income statement of hedging instruments which relationship with the hedged risk was terminated     -  578  5 640  3 122
Share in the other elements of the global result of associated companies and joint ventures       41   40   2
Convertible bonds  3 607 - 3 346      
Other elements of the global result  3 607 - 3 346 -  537  5 680  3 124
Minority interests          
Other elements of the global result - Group share  3 607 - 3 346 -  537  5 680  3 124
C. GLOBAL RESULT 31.03.2020 31.03.2019 31.03.2018 31.03.2017 31.03.2016
Global result  61 045  70 234 99 979  73 534  40 516
Minority interests  2 359 - 2 584 -2 929  2 685 - 2 787
Global result - Group share  63 405  67 651 97 050  70 849  37 729