Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
Annual Report 2012 - ORCO Germany
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Sales Value 2010 Sales price<br />
Date of Date of price vs value 2010<br />
Asset disposal Description Sale transfer (m. €) (m. €) (m. €)<br />
Kurfürstendamm 102 office in Berlin 05.08.2011 16.02.<strong>2012</strong> 6,3 6,2 0,1<br />
Kurfürstenstrasse 13,14 GSG office in Berlin 01.09.2011 01.03.<strong>2012</strong> 2,4 1,9 0,5<br />
Hüttenstrasse office in Düsseldorf 29.09.2011 22.06.<strong>2012</strong> 6,1 4,6 1,5<br />
Bergfried-Ritterstraße residential GSG asset in Berlin 08.11.2011 01.02.<strong>2012</strong> 3,7 2,8 0,8<br />
Ackerstraße 83-84 GSG plot in Berlin 29.12.2011 06.03.<strong>2012</strong> 0,6 0,3 0,3<br />
Ackerstraße 81 GSG plot in Berlin 14.03.<strong>2012</strong> 01.05.<strong>2012</strong> 0,2 0,0 0,2<br />
Geneststraße 6 part of land of Geneststraße 5 20.08.2009 24.03.<strong>2012</strong> 0,2 0,1 0,1<br />
Kurfürstenstrasse 11 GSG plot in Berlin 25.06.<strong>2012</strong> 01.01.2013 0,6 0,6 0,0<br />
Elb-Office land plot in Hamburg 17.07.<strong>2012</strong> 08.09.<strong>2012</strong> 1,5 1,8 -0,3<br />
Ackerstrasse 93 GSG asset in Berlin 09.08.<strong>2012</strong> 26.10.<strong>2012</strong> 1,9 1,2 0,6<br />
Skalitzerstraße 127/128 GSG asset in Berlin 16.11.<strong>2012</strong> expected Q.1 2013 1,5 1,0 0,6<br />
Sold in 2011 19,1 15,9 3,2<br />
Sold in <strong>2012</strong> 5,7 4,7 1,2<br />
Transferred in <strong>2012</strong> 22,8 19,0 3,8<br />
Transfer expected for 2013 2,1 1,6 0,6<br />
Over the full year <strong>2012</strong> the Company registered a net result on the disposal of assets totalling +EUR 0.5 million<br />
while the previous year's gains were primarily determined by the sale of <strong>ORCO</strong> Leipziger Platz GmbH, holding<br />
the Wertheim project on Leipziger Platz in Berlin positively impacting the P&L YoY by EUR 11.6 million.<br />
4.0. Other operating expenses<br />
Other operating expenses increased from -EUR 30.4 million as at December 2011 to -EUR 32.1 million as at<br />
December <strong>2012</strong> mainly due to higher costs recorded on consultancy expenditures (-EUR 3.8 million) mainly<br />
linked to the sale of Sky Office. Decreased taxes than income taxes (+EUR 0.7 million),utility supplies costs<br />
(+EUR 0.4 million) and administration costs (+EUR 0.5 million) were registered mainly backed by the finalization<br />
of planning works for tenant fit outs on Sky Office and its final sale. Communication and IT Maintenance<br />
increased by 0.4 million mainly driven by IT Hofnet services rendered which served to foster the attraction of new<br />
leasing tenants on one hand and on the other hand contributed to the generation of additional income, which is<br />
expected to further grow.<br />
k € Dec <strong>2012</strong> Dec 2011 Variance<br />
Leases and rents (437) (556) 119<br />
Building Maintenance and Utilities Supplies (4.882) (5.618) 737<br />
Communication and IT Maintenance (953) (590) (363)<br />
Utilities Supplies (12.604) (13.026) 422<br />
Commissions, fees, consultancy, audit (7.857) (4.085) (3.773)<br />
Insurance (802) (784) (18)<br />
Cars expenses and car leases (58) (90) 32<br />
Travel Expenses and representation costs (96) (146) 50<br />
Advertising and Marketing (629) (687) 58<br />
Administration Costs (1.756) (2.227) 470<br />
Taxes other than income tax (1.803) (2.487) 684<br />
Other operating expenses (201) (101) (100)<br />
Total other operating Expenses (32.078) (30.397) (1.681)<br />
<strong>Annual</strong> Management <strong>Report</strong> – <strong>ORCO</strong> GERMANY<br />
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