annual report 2009 - bei der Hamborner REIT AG

Land charges to the extent of €114.2 million
chargeable to the company were entered on
December 31, 2009.
The company had a line of credit amounting to
€3 million up to December 31, 2009, which was
secured by a further land charge. The credit line
arrangement expired as of December 31, 2009.
The land charge certificate has been returned to
us in the meantime.
to our sHareHolders management report Financial statements supplementary inFormation
in T€ December 31, 2009 December 31, 2008
long-term short-term long-term short-term
Financial liabilities 101,218 4,609 81,543 3,754
Derivative financial instruments 7,834 11 5,807 0
Total 109,052 4,620 87,350 3,754
The financial liabilities bear interest at interest rates
of between 4.41% and 5.21%. The redemptions
are effected quarterly, half-yearly or annually commensurate
with the loan agreements.
Contractually agreed redemption payments:
in T€ Dec 31, 2009 Dec 31, 2008
Financial liabilities
of which
payable within one
year 4,620 3,754
payable within two
to five years 27,235 12,153
payable after five
years 81,817 69,390
Total 113,672 85,297
HAMBORNER is exposed to various risks due to its
business activity. The risk report, which is part of
the management report, includes a detailed presentation
of these risks and their management.
Derivative financial instruments in the form of
interest rate swaps are used in the main for the
management of interest rate risks. The risks resulting
in connection with the use of these derivative
financial instruments are the subject of risk manage-
ment and control.
The risks resulting from the financial instruments
relate to credit, liquidity and market risks. Credit
risks exist in the form of risks of default for financial
assets. This risk subsists to the extent of the
book values of the financial assets as a maximum.
For derivatives, this is the sum of all the positive
market values and, for primary financial instruments,
the sum of the book values. If risks of default exist,
they are taken into account by means of value
adjustments.
Liquidity risks constitute refinancing risks and
thus risks of a fulfilment of existing obligations to
pay when due. The strategy and the results of the
planning process are taken as a basis for the early
identification of the future liquidity situation. The
expected liquidity requirements are scheduled in
the medium-term plan, which covers a period of
five years.
The current liquidity requirements are compared
with the actual data by means of daily, weekly and
monthly budgetary accounts.
Sensitivity analyses are required for the presentation
of market risks in accordance with IFRS 7. Both
influences on the result as well as on the equity
capital are to be shown through hypothetical changes
in risk variables orientated to the past. Interest rate
risks in particular are relevant for HAMBORNER in
this regard.
annual report 2009 | Hamborner reit ag
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