annual report 2009 - bei der Hamborner REIT AG

to our sHareHolders management report Financial statements supplementary inFormation
ment of dividend for the financial year 2008 and amount to €37.9 million. The investment
activity of the company is financed in part with borrowed funds. Therefore, the liabilities to
banks rose by €20.5 million and amount to €105.8 million.
The balance sheet total increased by €16.4 million and amounts to €300.4 million. As a
result of the investments of the reporting year, the balance sheet fixed assets increased by
€33.6 million or 14.7% to €261.5 million. On the other hand, the current assets including
the items for deferred income decreased by €17.2 million. On the liabilities side, the equity
capital fell by €0.9 million to €86.9 million. Likewise, the special account with reserve characteristics
developed in a downward direction. It amounts to €92.4 million (previous year:
€95.6 million). The equity capital and the medium- and long-term borrowed funds cover
the fixed assets in full. As of December 31, 2009, the company has a balance sheet equity
ratio of 49.4%.
Overall opinion on the economic position
Overall, the Managing Board assesses the economic position of the company to be good on
the date of the preparation of the management report. As the business development in the
first weeks of the new financial year is going in accordance with expectations in the case of
turnover from rents and leases, the Managing Board assumes future developments will
remain positive overall.
annual report 2009 | Hamborner reit ag 37