2001 Annual Report - Unibail-Rodamco

CONSOLIDATED FINANCIAL STATEMENTS
Other exceptional events or litigation
No other exceptional events or litigation have arisen that could have a significant effect on the Group’s activity, portfolio, financial situation
or earnings.
Regarding the rent setting dispute for the Méridien Montparnasse hotel, the March 2000 decision by the Court of Appeals, has not modified
the risk assessment. In the financial statements, the rent is still accounted for on the basis of the experts report prepared in January 1998.
Following the take-over merger of Cnit SA (Unibail subsidiary), Accor, a former minority shareholder of Cnit SA disputed the terms of the
merger. After having its case dismissed by the judge in emergency interim proceedings, Accor decided to take the case further and demanded
€ 22.9m in damage and interest from Unibail.
Given the precautions taken by the company to set the merger parities (e.g. valuation by an external company and fairness opinion by an
independent third party) and considering jurisprudency, the Group believes that Accor’s demands are likely to be rejected. As a result, Unibail
has not made any provisions for liabilities.
Average number of staff in Unibail’s companies
(full-time equivalent) 1999 2000 2001
Unibail 97 115 3
Unibail Management (1) - - 157
Unibail Marketing et Multimédia (1) (U2M) - - 10
Services to Building & Businesses (1) (S2B) - - 37
Espace Expansion 239 246 206
Espace Expansion Développement (2) 10 - -
Patrimoine & Gestion (3) 32 29 -
Arc 108 14 14 10
Other 9 14 11
Total 401 418 434
(1)
Companies founded at end-2000.
(2)
Merged into Espace Expansion at end-1999.
(3)
Merged into Espace Expansion at end-2000.
Convention-Exhibition Centers (1) 1999 2000 2001
Paris Expo - 172 171
Cnit (and subsidiaries) (2) - 323 270
Carrousel du Louvre - 18 13
Total - 513 454
(1)
Excluding part-time and temporary staff.
(2)
Disposal of Honoré James and termination of Dôme Imax activities in 2001.
Employee Profit Sharing
• The employees belonging to the 'Business and Labour Union' (UES – Unité Economique et Sociale), which includes Unibail, Unibail
Management, Espace Expansion, Espace Création, Arc 108, S2B and U2M, benefit from an employee profit-sharing plan and a profit-sharing
agreement. The profit-sharing agreement is mainly based on annual growth in pre-tax recurring cash flow per share.
• The employees belonging to the Convention-Exhibition Centers receive one part of a legal employee profit-sharing plan and Cnit employees
also benefit from a profit-sharing agreement based on operating income growth.
To this matter, the following amounts were allocated:
1999 2000 2001
Legal employee profit-sharing plan 882 742 1,578
Employee profit-sharing agreement 1,051 1,086 1,001*
*Estimated.
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