annual report 2009 - bei der Hamborner REIT AG
annual report 2009 - bei der Hamborner REIT AG
annual report 2009 - bei der Hamborner REIT AG
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to our sHareHol<strong>der</strong>s management <strong>report</strong> Financial statements supplementary inFormation<br />
Important terms and abbreviations<br />
108<br />
AktG German Stock Company Act<br />
Cash flow Cash balance from the inflow and outflow of liquid funds within a period<br />
Cash flow<br />
statement<br />
Corporate<br />
Governance<br />
The cash flow statement makes the cash flows in the company transparent. Transactions<br />
impacting on liquidity are classified by operating, investment and financing<br />
activities.<br />
Principles of responsible company management and control geared to the longterm<br />
creation of value<br />
DAX The most important German share index established by Deutsche Börse <strong>AG</strong>.<br />
It shows the development of the 30 biggest German public limited companies,<br />
in terms of their market capitalisation and stock exchange turnover.<br />
Declaration of<br />
compliance<br />
Deferred<br />
taxes<br />
Declaration by the Managing Board and Supervisory Board in accordance with<br />
Art. 161 of the German Stock Company Act for implementation of the recommendations<br />
of the Government Commission for the German Corporate Governance Code<br />
Items on the assets side and/or on the liabilities side to offset the difference<br />
between the tax liability actually assessed and the economic tax burden caused<br />
due to balance sheet preparation un<strong>der</strong> commercial law<br />
Derivative A financial instrument whose value is <strong>der</strong>ived predominantly from the price, price<br />
fluctuations and price expectations of an un<strong>der</strong>lying asset, such as shares, interestbearing<br />
securities or foreign currencies; often used as a hedging instrument<br />
Designated<br />
sponsor<br />
Designated sponsors are specialised financial service provi<strong>der</strong>s that counterbalance<br />
temporary imbalances between supply and demand in individual shares in the elec-<br />
tronic trading system Xetra. The negotiability of a share is meant to be improved<br />
through placing bid and ask limits.<br />
DIMAX Share index published by the banking firm Ellwanger & Geiger, which combines<br />
German property shares<br />
EBDA Earnings before depreciation and amortization<br />
EBIT Earnings before interest and tax (only taxes on income)<br />
EBITDA Earnings before interest, taxes, depreciation and amortization (only taxes on<br />
income)<br />
EPRA European Public Real Estate Association – European association of property companies<br />
quoted on the stock market. Financial analysts, investors, auditors and consultants<br />
are also represented here, in addition to companies.<br />
Fair value The amount (fair value) at which knowledgeable and willing parties would be prepared<br />
to exchange an asset at normal market conditions or to discharge a liability<br />
FFO Funds from operations: key figure of the operational management of the company.<br />
Corresponds to the net income, less the profits or losses from the sale of properties<br />
and plus the depreciations for wear and tear of the property.<br />
GDP Gross Domestic Product: measurement of the economic performance of a national<br />
economy, i.e. the combined value of all goods and services that are produced in the<br />
domestic market within a specific period<br />
HGB German Commercial Code<br />
Ifo Ifo Institut für Wirtschaftsforschung [Ifo Institute for Economic Research], Munich<br />
IFRS International Financial Reporting Standards: International accounting provisions<br />
issued by the International Accounting Standards Board (IASB). These are compulsorily<br />
applied by capital market-orientated companies and groups and are intended<br />
to facilitate better comparability in the international environment.<br />
Investment<br />
properties<br />
All undeveloped and developed properties as well as buildings and parts of buildings<br />
which are held for the attainment of future rental income and/or profits from<br />
appreciations in value to third parties and/or for an as yet undefined use. They are<br />
not intended for administrative purposes or for short-term trade in the context of<br />
the normal business activity.<br />
Loan-To-Value The LTV is normally defined as the ratio of the loan amount in relation to the fair<br />
or market value of specific assets.<br />
Market<br />
capitalisation<br />
<strong>Hamborner</strong> reit ag | <strong>annual</strong> <strong>report</strong> <strong>2009</strong><br />
Market value of a public limited company. Current share price multiplied by the<br />
number of shares
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