Annual report 2010 - plazacenters

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Financial statements Notes to the consolidated financial statements continued Note 30 – Administrative expenses For the year ended For the year ended December 31, December 31, 2010 2009 €’000 €’000 Selling and marketing expenses Advertising and marketing 1,665 1,616 Salaries and relating expenses 941 758 Others 36 27 2,642 2,401 General and administrative expenses Salaries and related expenses 1 7,661 7,543 Depreciation and amortization 1,086 1,007 Management fees – – Professional services 3,721 4,478 Travelling and accommodation 968 1,233 Offices and office rent 1,077 1,461 Others 768 931 15,281 16,653 Total 17,923 19,054 General and administrative 1 Including non-cash expenses due to the share option plan in the amount of EUR 2.5 million (2009: EUR 2.8 million) refer to note 27 for more details on share-based payments. Note 31 – Other income and other expenses For the year ended For the year ended December 31, December 31, 2010 2009 €’000 €’000 a. Other income Gain from selling property and equipment – 167 Gain from bargain purchase* 42,039 – Non-claimed payable 360 – Other income 204 113 Total other income 42,603 280 b. Other expenses Loss from selling property and equipment (212) (26) Impairment of property and equipment – Other expenses (48) (13) Total other expenses (260) (39) Total 42,343 241 * Gain from bargain purchase – refer to note 37. 106 Plaza Centers N.V. Annual report 2010
O Br Mg Fs Ai Note 32 – Net finance expenses For the year ended For the year ended December 31, December 31, 2010 2009 €’000 €’000 Recognized in profit or loss Interest income on bank deposits and available for sale financial assets 4,300 4,578 Interest income on structured deposits 5,162 4,709 Interest from loans to related parties 136 624 Changes in fair value of derivatives 37,308 17,341 Changes in fair value of structured deposit 1,065 3,088 Foreign exchange gains on deposits, bank loans 456 1,921 Other interest income 1,169 1,162 Finance income 49,596 33,423 Interest expense on bank loans and debentures (27,540) (16,269) Interest expenses on loan on structures (462) (834) Interest on loans from related parties – (306) Changes in debentures measured at fair value through profit or loss* (50,112) (44,220) Foreign exchange losses on debentures at amortized cost (10,366) (383) Foreign exchange losses – related parties – (215) Foreign exchange losses (742) (207) Other finance expenses (1,293) (1,899) (90,515) (64,333) Less- borrowing costs capitalized to trading properties under development 19,742 12,790 Finance costs (70,773) (51,543) Net finance expenses (21,177) (18,120) * The change in fair value includes a total of EUR 10.6 million (2009: EUR 65.8 million) attributable to the credit risk of the Company. For the year ended For the year ended December 31, December 31, 2010 2009 €’000 €’000 Recognized in equity Net change in fair value of available-for-sale financial asset (179) 1,722 Foreign currency translation differences for foreign operations 17,714 2,535 17,535 4,257 Plaza Centers N.V. Annual report 2010107
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Plaza Centers Annual report 2010 Su
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Overview Who we are O Br Mg Fs Ai W
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O Br Mg Fs Ai Operational highlight
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Overview Our s trategy O Br Mg Fs A
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O Br Mg Fs Ai Koregaon Park Plaza (
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O Br Mg Fs Ai • As a result of th
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O Br Mg Fs Ai Plaza expects to comp
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Overview Our portfolio at a glance
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O Br Mg Fs Ai Suwałki Plaza: opera
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O Br Mg Fs Ai Belgrade Plaza Serbia
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O Br Mg Fs Ai Koregaon Park Plaza:
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Overview Current devel opments cont
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O Br Mg Fs Ai Timisoara Plaza Roman
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Overview Current de velopments cont
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O Br Mg Fs Ai Liberec Plaza Czech R
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O Br Mg Fs Ai Bulgaria Sofia Plaza
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O Br Mg Fs Ai I am pleased to repor
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O Br Mg Fs Ai The combination of Pl
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O Br Mg Fs Ai Over the course of th
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O Br Mg Fs Ai Plaza’s effective o
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O Br Mg Fs Ai In addition, Plaza ha
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O Br Mg Fs Ai Among our first actio
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O Br Mg Fs Ai increased rental reve
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Management and governance Managemen
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O Br Mg Fs Ai Uzi Eli (35), LLB, At
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O Br Mg Fs Ai Substantial sharehold
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Management and governance Corporate
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O Br Mg Fs Ai • Best Practice Pro
Page 57 and 58: O Br Mg Fs Ai Among other matters,
Page 59 and 60: Management and governance Risk mana
Page 61 and 62: O Br Mg Fs Ai • Real estate valua
Page 63 and 64: O Br Mg Fs Ai II) Four components o
Page 65 and 66: O Br Mg Fs Ai c) The Audit Committe
Page 67 and 68: O Br Mg Fs Ai Service arrangements
Page 69 and 70: Financial statements Independent au
Page 71 and 72: Financial statements Consolidated i
Page 73 and 74: Financial statements Consolidated s
Page 75 and 76: O Br Mg Fs Ai For the For the year
Page 77 and 78: O Br Mg Fs Ai Estimates and underly
Page 79 and 80: O Br Mg Fs Ai Note 3 - Summary of s
Page 81 and 82: O Br Mg Fs Ai Financial assets and
Page 83 and 84: O Br Mg Fs Ai f. Normal operating c
Page 85 and 86: O Br Mg Fs Ai i) Rental income The
Page 87 and 88: O Br Mg Fs Ai 2. Share-based paymen
Page 89 and 90: O Br Mg Fs Ai The current lack of c
Page 91 and 92: O Br Mg Fs Ai Note 7 - Available-fo
Page 93 and 94: O Br Mg Fs Ai Below is a summary ta
Page 95 and 96: O Br Mg Fs Ai Major additions/dispo
Page 97 and 98: O Br Mg Fs Ai Note 16 - Derivatives
Page 99 and 100: O Br Mg Fs Ai December 31, December
Page 101 and 102: O Br Mg Fs Ai Note 21 - Other liabi
Page 103 and 104: O Br Mg Fs Ai As of December 31, 20
Page 105 and 106: O Br Mg Fs Ai Contractual life Gran
Page 107: O Br Mg Fs Ai Note 28 - Revenues Fo
Page 111 and 112: O Br Mg Fs Ai b. Under the particip
Page 113 and 114: O Br Mg Fs Ai The Group limits its
Page 115 and 116: O Br Mg Fs Ai Liquidity risk The fo
Page 117 and 118: O Br Mg Fs Ai Interest rate risk Pr
Page 119 and 120: O Br Mg Fs Ai Note 36 - Contingent
Page 121 and 122: O Br Mg Fs Ai Certain loan agreeme
Page 123 and 124: O Br Mg Fs Ai The net proceeds of t
Page 125 and 126: O Br Mg Fs Ai Additional transactio
Page 127 and 128: O Br Mg Fs Ai Note 39 - Operating s
Page 129 and 130: O Br Mg Fs Ai Note 41 - Critical ac
Page 131 and 132: O Br Mg Fs Ai therefore fail to imp
Page 133 and 134: O Br Mg Fs Ai Cyprus - Russia Activ
Page 135 and 136: O Br Mg Fs Ai The Dutch Antilles Ac
Page 137 and 138: O Br Mg Fs Ai United States Activit
Page 139 and 140: Additional information Advisors O B
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