IMMOEAST Annual Report 2006/07

136 IMMOEAST Annual Report 2006/07
2.3.1.3.4 Building A k.s., Building B k.s. and Building C k.s.
During the third quarter of 2006/07 IMMOEAST concluded its largest investment to date on the Czech office market.
As of 13 December 2006 the Company acquired 100% of the shares in Building A k.s., Building B k.s. and Building
C k.s., which led to the takeover of three objects in the BB Centrum office park. All three properties are fully let to
well-known companies, in particular subsidiaries of foreign corporations.
The following table shows the acquired assets and liabilities at fair value as well as the consolidated proportional
share of net assets at the individual company level as of the balance sheet date and the income statements of the
companies for the period from the acquisition date to the balance sheet date, which are included in the consolidated
financial statements:
Segment CEE
Location of property Czech Republic
Company BB C – Building A, k.s. BB C – Building B, k.s. BB C – Building C, k.s.
Date of initial consolidation 13.12.2006 13.12.2006 13.12.2006
All amounts in TEUR
Cash and cash equivalents 5,512.3 2,213.3 513.7
Receivables and other assets 1,217.0 1,403.1 1,680.8
Deferred tax assets 136.4 243.9 0.0
Property 64,335.5 53,610.8 40,132.8
Financial liabilities -31,570.0 -20,147.1 0.0
Trade accounts payable -53.2 -1,153.4 -203.7
Other liabilities -2,619.0 -871.1 -19,273.7
Provisions -65.5 -85.4 -116.6
Deferred tax liabilities -9,316.9 -8,715.1 -5,912.4
Currency translation adjustment 515.8 491.1 319.6
Acquired net assets 28,092.4 26,990.1 17,140.5
(Negative) goodwill 9,155.5 8,470.4 5,938.8
Purchase price paid in cash 37,247.9 35,460.5 23,079.3
Less cash and cash equivalents acquired -5,512.3 -2,213.3 -513.7
Net purchase price for property company 31,735.5 33,247.2 22,565.6
All amounts in TEUR 30 April 2007
Property 71,243.3 43,637.4 60,905.9
Other non-current assets 9,424.4 6,642.2 5,976.5
Current assets 2,244.8 1,954.4 1,971.7
Non-current liabilities -43,434.0 -26,687.2 -26,768.1
Current liabilities -1,489.6 -2,128.8 -1,373.4
Proportional share of net assets 37,989.0 23,418.0 40,712.7
All amounts in TEUR 2006/07
Revenues 1,595.9 1,753.2 1,353.9
Revaluation 6,533.6 -10,202.6 20,410.2
Operating profit (EBIT) 7,906.9 -11,483.6 21,170.8
Financial results -833.6 -383.5 -493.5
Income taxes -1,528.3 2,490.4 -4,875.0
Net profit for the period 5,545.0 -9,376.7 15,802.4
2.3.1.3.5 Centre Investments s.r.o., Delta Park a.s. and Brno Estates a.s.
IMMOEAST acquired 100% of the shares in the Czech Centre Investments s.r.o., Delta Park a.s. and Brno Estates a.s.
as part of a uniform transaction during the fourth quarter of 2006/07. This portfolio comprises four standing investments
and two forward purchases: Jungmannova Plaza, a class A office property that is located in the historical city