annual report 2009 - bei der Hamborner REIT AG

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to our sHareHolders management report Financial statements supplementary inFormation Interest rate risks result from changes in the level of market interest rates. We limit such risks through the use of interest rate swaps. Sensitivity analyses, which show the consequences of changes in the level of market interest rates on interest payments, interest charges and income as well as on the equity capital, are carried out in compliance with IFRS 7. The following assumptions apply to this end: Primary financial instruments with a fixed interest rate are only subject to interest rate risks if they are assessed at the fair value. Financial instruments that are valued at acquisition cost are not subject to interest rate risks. In the case of cash flow hedges for the hedging of interest-induced payment fluctua- tions, changes in the level of market interest rates have consequences on the reserve in the equity capital. Therefore, these financial instruments are taken into account in the sensitivity analysis. Primary financial instruments with a variable interest rate should also be subjected to a sensitivity analysis, as they too are subject to a risk of a change in the market interest rate. In the sensitivity analysis, the indicative valuation was calculated as of the balance sheet date on the basis of the market value, taking into account accrued interest. 90 Hamborner reit ag | annual report 2009 Sensitivity analysis in T€ Dec 31, 2009 Dec 31, 2008 Market value of financial instruments on a floating-rate basis – 7,845 – 5,807 Change in the revaluation reserve Interest rate + 1% 3,908 4,492 Interest rate - 1% – 4,272 – 4,879 Profit and loss account Interest rate + 1% 1 5 Interest rate - 1% – 1 – 5 Other information on financial instruments As a result of the forthcoming sale, the participation in Montan GmbH Assekuranz-Makler, Düsseldorf was reclassified from the item "Investments" into the "Non-current assets held for disposal" as of December 31, 2008. The valuation under the current assets was carried out at the market value. The investment was sold in January 2009. For short-term financial assets and liabilities that are not derivatives, the respective book value constitutes an appropriate approximation of the fair value within the meaning of the IFRS.
Additional details on financial instruments in T€ Dec 31, 2009 Fair value available for sale/ derivatives to our sHareHolders management report Financial statements supplementary inFormation Valuation in accordance with IAS 39 Valuation in accordance with other standards Continued activities, loans and receivables Continued activities held until final maturity Fair value Continued activities Assets Intangible assets 6 6 Tangible fixed assets Properties held as a financial 151 151 investment 257,386 257,386 Financial assets 38 38 Long-term other assets 365 365 Deferred tax assets 2,170 2,170 Short-term trade receivables and other assets 487 Income tax receivables 44 44 487 Bank deposits and cash balances 37,942 37,942 298,589 0 38,429 403 0 259,757 Liabilities Equity capital Long-term financial liabilities and trade accounts payable and other 155,297 155,297 liabilities 113,128 7,834* 103,712 1,582 Deferred tax liabilities 14,708 14,708 Provisions for pensions 5,603 5,603 Other long-term provisions 701 701 0 Short-term financial liabilities and trade accounts payable and other liabilities 6,497 11 5,558 928 Liabilities from taxes on income 402 402 Other short-term provisions 2,253 331 1,922 * Derivatives 289,589 7,845 109,601 0 701 180,442 annual report 2009 | Hamborner reit ag 91
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annual report 2009
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Property locations Trade: Meppen, A
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Launch of the special share fund as
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to our sHareHolders management repo
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Dividend development 0,40 € 0,35
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The REIT transformation has been wo
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