Annual Report 2012 - ORCO Germany

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Profit & Loss
31 December 2012
Development
Property
Investments
TOTAL
Revenue 124,696 56,337 181,033
Sale of goods 119,533 - 119,533
Rent 3,446 48,245 51,691
Hotels, Extended Stay & Restaurants - - -
Services 1,717 8,092 9,809
Net gain or loss from fair value 360 17,690 18,050
adjustments on investment property
Cost of goods sold (118,518) (26) (118,544)
Impairments - Allowance (25,205) (425) (25,630)
Impairments - Write-Back 215 97 312
Amortization and provisions (1,705) 212 (1,493)
Other operating results (6,480) (28,036) (34,516)
Operating Result (26,637) 45,849 19,212
Net gain or loss from fair value
(360) (17,690) (18,050)
adjustments on investment property
Impairments - Allowance 25,205 425 25,630
Impairments - Write-Back (215) (97) (312)
Amortization and provisions 1,705 (212) 1,493
Net result on disposal of assets 48 (511) (463)
Adjusted EBITDA (254) 27,764 27,510
Financial Result (23,138)
Share profit or loss from equity affiliates -
Profit & Loss before Income Tax (3,926)
Balance Sheet & Cash Flow
31 December 2012
Development
Property
Investments
TOTAL
Segment Assets 5,188 515,076 520,264
Investment Property 2,750 501,995 504,745
Property, plant and equipment - 2,893 2,893
Inventories (*) 1,838 - 1,838
Assets held for sale 600 1,450 2,050
Investments in equity affiliates - 8,738 8,738
Unallocated assets 114,541
Total Assets 634,805
Segment Liabilities - - -
Liabilities linked to assets held for sale - - -
Unallocated liabilities 634,805
Total Liabilities 634,805
Cash flow elements - 968 968
Capital expenditure - 968 968
Direct Operating Expenses
31 December 2012
Development
Property
Investments
TOTAL
Direct operating expenses arising from
investment property that :
- generated rental income (77) (19,530) (19,607)
- did not generated rental income (2) (15) (17)
ANNUAL CONSOLIDATED FINANCIAL STATEMENTS | 26