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146 CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated fi nancial statements Note 15 Breakdown of income statement and segment reporting Primary segment reporting is business-related, inasmuch as it represents the group’s management structure and is presented on the basis of the following business segments: • Rental of Haussmann-style properties; • Hotel property rental. Secondary segment reporting is by geographic region: • Lyons region; • Marseilles region. (€ thousands) 12/31/2009 B&B Hotels Haussmannstyle properties Lyons Marseilles Revenues: rental income 65,060 30,938 34,122 15,963 18,159 Other operating income 6,399 2,341 4,058 1,327 2,731 Total operating income 71,459 33,279 38,180 17,290 20,890 Property expenses (9,759) (2,023) (7,736) (2,258) (5,478) Other operating expenses (848) - (848) (442) (406) Total operating expenses (10,607) (2,023) (8,584) (2,700) (5,884) Net operating income from property 60,852 31,256 29,596 14,590 15,006 Income from disposal of inventory - - - - - Capital gain (losses) from disposal of assets 2,150 - 2,150 911 1,239 Net operating income from property after disposals 63,002 31,256 31,746 15,501 16,245 Employee benefi ts expenses (7,222) (1,444) (5,778) (1,950) (3,828) Other management expenses (3,696) (877) (2,819) (951) (1,868) Other income 1,906 - 1,906 434 1,472 Other expenses (458) (29) (429) (90) (339) Depreciation & amortisation (333) (67) (266) (90) (176) Other operating provisions (net of reversals) (475) - (475) (116) (359) Net o perating income (before changes in fair value of property) ANF • 2009 ANNUAL REPORT 52,724 28,839 23,885 12,738 11,146 Changes in fair value of property (89,478) (25,134) (64,344) (21,360) (42,984) Net o perating income (after changes in fair value of property) (36,754) 3,705 (40,459) (8,622) (31,838) Net fi nancial expense (16,152) (9,868) (6,284) (2,121) (4,163) Financial amortisation and provisions 29 6 23 8 15 Changes in fair value of fi nancial instruments 902 725 177 115 62 Discounting of receivables and liabilities - - - - - Share of income from entities accounted for by the equity method (pending consolidation of SGIL) (100) - (100) - (100) Net i ncome before tax (52,075) (5,431) (46,643) (10,620) (36,024) Current taxes (1,902) - (1,902) (1,897) (5) Exit tax - - - - - Deferred taxes - - - - - Consolidated net income (53,977) (5,431) (48,545) (12,517) (36,029) � Contents OTHER GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS
Note 16 Earnings per share CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated fi nancial statements (€ thousands) 12/2009 12/2008 Net income for basic earnings per share calculation (53,977) 69,203 Net income for diluted earnings per share calculation (53,977) 69,203 Number of ordinary shares at the balance sheet date for basic earnings per share calculation 26,070,846 24,956,675 Weighted average number of ordinary shares for basic earnings per share calculation 25,513,761 23,880,501 Stock options for diluted earnings per share calculation Number of diluted ordinary shares 26,070,846 24,956,675 Weighted average number of diluted ordinary shares (€) 25,513,761 23,880,501 Basic earnings per share (2.07) 2.77 Diluted earnings per share (2.07) 2.77 Weighted basic earnings per share (2.12) 2.90 Weighted diluted earnings per share (2.12) 2.90 Note 17 NAV per share The NAV is calculated by dividing the Company’s consolidated shareholders’ equity by the number of shares, and by the number of shares excluding treasury stock. (€ thousands) 12/2009 12/2008 restated* 12/2008 published Capital and consolidated reserves 1,029,574 1,099,046 1,099,046 Fair value adjustment of operating property 1,833 2,052 2,052 Net asset value 1,031,407 1,101,098 1,101,098 Total number of shares 26,070,846 26,011,582 24,956,675 Treasury shares (109,835) (109,835) (109,835) Total shares excluding treasury shares 25,961,011 25,901,747 24,846,840 NAV PER SHARE EXCLUDING TREASURY SHARES (€) 39.73 42.51 44.32 * Adjusted for the stock dividend. Net of the impact of the fair value adjustment of hedging instruments, the NAV per share excluding treasury shares amounted to €40.9 compared to €43.3 at December 31, 2008. � Contents ANF • 2009 ANNUAL REPORT 147 OTHER GENERAL GENERAL INFORMATION PRO FORMA FINANCIAL INFORMATION ANNUAL ANNUAL FINANCIAL STATEMENTS CONSOLIDATED FINANCIAL FINANCIAL STATEMENTS INFORMATION ABOUT ANF DESCRIPTION OF THE BUSINESS
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egistration document 2009
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2009 Annual Report � The Registra
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DESCRIPTION OF THE BUSINESS 1. PROF
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of listed real estate companies hav
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Furthermore, as part of its asset r
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DESCRIPTION OF THE BUSINESS Propert
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7. Lyons at the heart of the old ci
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ANF’s goal is to maintain the hig
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ANF had the following real estate a
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To return the buildings to their fo
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9.3 Committed and secured developme
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DESCRIPTION OF THE BUSINESS (€ th
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A new ANF tenant in the cities of L
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13. Key Figures SIMPLIFIED INCOME S
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1. INCOME FROM OPERATIONS 28 1.1 Fa
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The ILC index applies to leases sig
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sales of €29.7 million and partia
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• property held for sale worth
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Income statement Net income in 2009
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1.4 Financial structure Consolidate
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1.5 Events occurring after the bala
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Name and age Bruno Keller Age: 55 C
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Members of the Supervisory Board 1.
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Name and age Delphine Abellard (1)
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Name and age Sébastien Bazin* Age:
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Name and age Jean-Luc Bret Age: 63
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Name and age Alain Lemaire* Age: 60
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Name and age Henri Saint Olive Age:
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INFORMATION ABOUT ANF 2.2 Declarati
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Members of the Executive Board and
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Ghislaine Seguin, Member of the Exe
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Members of the Executive Board and
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INFORMATION ABOUT ANF Corporate gov
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TABLE 5: STOCK OPTIONS EXERCISED BY
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Stock options are granted during th
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down into €21,783,916.96 charged
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Accordingly, the new purchase price
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3 Risk management, risk factors and
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Risks related to information system
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Since June 1, 2006, lessors are req
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3.5 Risks related to B&B Hotels Gro
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2007 INFORMATION ABOUT ANF Voting r
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Pursuant to the regulations in effe
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5. Sustainable development 5.1 Huma
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INFORMATION ABOUT ANF Reports and i
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otherwise exercisable, immediately
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The maximum purchase price per shar
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4. resolves that this delegation of
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Page 99 and 100: up to the limits set out by applica
Page 101 and 102: The extraordinary resolutions propo
Page 103 and 104: INFORMATION ABOUT ANF Reports and i
Page 105 and 106: website (www.medef.fr) (“Code de
Page 107 and 108: The Statutory Auditors were duly in
Page 109 and 110: • liabilities or similar instrume
Page 111 and 112: analysis of turnover by supplier, e
Page 113 and 114: Within ANF, a profi t-sharing agree
Page 121 and 122: CONSOLIDATED FINANCIAL STATEMENTS I
Page 123 and 124: CONSOLIDATED BALANCE SHEET - TOTAL
Page 125 and 126: STATEMENT OF CHANGES IN SHAREHOLDER
Page 127 and 128: Detailled contents HIGHLIGHTS OF TH
Page 129 and 130: using the fair value convention. In
Page 131 and 132: As of December 31, 2009, fi ve buil
Page 133 and 134: A review of the rental base for fi
Page 135 and 136: d) Stock option plan granted in 200
Page 137 and 138: Earnings per share (IAS 33) Basic e
Page 139 and 140: CONSOLIDATED FINANCIAL STATEMENTS N
Page 141 and 142: Note 2 Receivables maturity schedul
Page 143 and 144: ANF’s former Chief Operating Offi
Page 145 and 146: Note 10 Covenants With respect to l
Page 147: Note 14 Associates CONSOLIDATED FIN
Page 151 and 152: Note 20 Interest rate risk exposure
Page 153 and 154: III - Specifi c checks and disclosu
Page 155 and 156: ANNUAL FINANCIAL STATEMENTS Pursuan
Page 157 and 158: Balance sheet at December 31, 2009
Page 159 and 160: Notes to the financial statements D
Page 161 and 162: espect of which depreciation period
Page 163 and 164: The real estate assets break down b
Page 165 and 166: Non-current fi nancial assets (€
Page 167 and 168: Note 8 Change in shareholder’s eq
Page 169 and 170: Note 10 Debt maturity schedule (€
Page 171 and 172: Note 14 Covenants With respect to l
Page 173 and 174: Note 16 Headcount As of December 31
Page 175 and 176: Stock option plan granted in 2007 D
Page 177 and 178: Stock option plan granted in 2009 D
Page 179 and 180: Note 22 Extraordinary items ANNUAL
Page 181 and 182: III - Specifi c checks and disclosu
Page 183 and 184: PRO FORMA FINANCIAL INFORMATION �
Page 185 and 186: OTHER GENERAL INFORMATION 1. PERSON
Page 187 and 188: Statutory Auditors’ fees TABLE OF
Page 189 and 190: If the ownership threshold is not m
Page 191 and 192: OTHER GENERAL INFORMATION Other inf
Page 193 and 194: 3.2 Share capital Number of shares
Page 195 and 196: violation of these Articles of Asso
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or vote on the project in question
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OTHER GENERAL INFORMATION Other inf
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5.6 History Important events in the
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In accordance with RICS rules, we w
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• Three assets are under fi nance
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OTHER GENERAL INFORMATION Contacts
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OTHER GENERAL INFORMATION Contacts
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OTHER GENERAL INFORMATION Concordan
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OTHER GENERAL INFORMATION Concordan
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OTHER GENERAL INFORMATION � Conte
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Head office : 32, rue de Monceau -
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