Annual report 2010 - plazacenters

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Financial statements Notes to the consolidated financial statements continued Note 38 – Related party transactions Related party transactions Transactions between the Company and its subsidiaries have been eliminated on consolidation and are not disclosed in this note. Details of transactions between the Group and other related parties are disclosed below and in note 36. The Company has six directors. The annual remuneration of the directors in 2010 amounted to EUR 1.1 million (2009: EUR 0.8 million), and the annual share-based compensation expenses amounted to EUR 0.8 million (2009: EUR 2.5 million). In the course of 2010, 2.5 million options were granted to related parties personnel. There are no other benefits granted to directors. For the nomination of the Company’s CEO as a joint CEO in EI refer to note 37. Information about related party balances as of December 31, 2010 and 2009 is disclosed in note 19. Trading transactions During the year, Group entities had the following trading transactions with related parties that are not members of the Group: For the year ended For the year ended December 31, December 31, 2010 2009 €’000 €’000 Income Interest on balances with EI 136 624 Costs and expenses Charges – EI and EUL 919 175 Chairman of Board 1 244 214 Former executive Vice Chairman of EI 2 710 (500) Finance on shareholders loan from EUL – 521 Aviation services – Jet Link 3 496 414 Project management provision and charges – Control Centers group 3 5,039 19,071 1 The Chairman of the Board of Directors of the Company, who is also the controlling shareholder of the ultimate parent company is receiving an annual salary of USD 300 thousand. 2 Including option plan expenses of EUR 0.5 million. For the option Plan for the former Executive Vice-Chairman of EI refer to note 27. 3 Jet Link Ltd. and Control Centers (refer to note 36 a(1)) are companies owned by the ultimate shareholder of the Company. 124 Plaza Centers N.V. Annual report 2010
O Br Mg Fs Ai Note 39 – Operating segment The Group comprises the following main geographical segments: CEE, India and the US (Starting June 30, 2010). In presenting information on the basis of geographical segments, segment revenue is based on the revenue resulted from either the selling or operating of assets geographically located in the relevant segment. Year ended December 31, 2010 Central Eastern Europe India US Total Revenues 20,824 – 16,817 37,641 Operating profit/(loss) by segment (8,579) (3,669) 11,329 (919) Share in losses of associates, net (381) Less – unallocated general and administrative expenses (6,926) Financial expenses, net (21,177) Other income, net 42,343 Profit before income taxes 12,940 Tax benefit 1,308 Profit for the year 14,248 Purchase cost of segment (tangible and intangible) assets 63,674 16,420 80,094 Depreciation and amortization of segment assets (appreciation of investment property) 7,940 760 (4,394) 4,306 December 31, 2010 Total segment assets 675,207 196,978 236,292 1,108,477 Investment on the equity basis – – – Unallocated assets 317,819 1,426,296 Segment liabilities 43,240 3,777 4,644 51,661 Unallocated liabilities 750,186 801,847 Plaza Centers N.V. Annual report 2010125
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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
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O Br Mg Fs Ai Among other matters,
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Management and governance Risk mana
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O Br Mg Fs Ai • Real estate valua
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O Br Mg Fs Ai II) Four components o
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O Br Mg Fs Ai c) The Audit Committe
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O Br Mg Fs Ai Service arrangements
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Financial statements Independent au
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Financial statements Consolidated i
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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 and 108: O Br Mg Fs Ai Note 28 - Revenues Fo
Page 109 and 110: O Br Mg Fs Ai Note 32 - Net finance
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: O Br Mg Fs Ai Additional transactio
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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Annual report 2010 - plazacenters

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