IMMOEAST Annual Report 2006/07

138 IMMOEAST Annual Report 2006/07
2.3.1.4 Regional subsegment Hungary
2.3.1.4.1 Central Business Center Rt.
Central Business Center Rt., a Hungarian project
company, was fully consolidated by IMMOEAST as
of 10 January 2007. The company owns the Central
Business Center in Budapest, which is located on
the Buda-side of the city near the Margit Bridge.
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 statement of the company for the period
from the acquisition date to the balance sheet
date, which is included in the consolidated financial
statements:
2.3.2 Segment Community of Independent States (CIS)
2.3.2.1 Regional subsegment Russia
Segment CEE
Location of property Hungary
Company Central Business Center Rt.
Date of initial consolidation 15.1.2007
All amounts in TEUR
Cash and cash equivalents 1,077.2
Receivables and other assets 684.1
Deferred tax assets 4.7
Property 20,710.0
Trade accounts payable -40.9
Other liabilities -5,280.6
Deferred tax liabilities -1,809.5
Currency translation adjustment 243.3
Acquired net assets 15,588.3
(Negative) goodwill 2,033.6
Purchase price paid in cash 17,621.9
Less cash and cash equivalents acquired -1,077.2
Net purchase price for property company 16,544.7
All amounts in TEUR 30 April 2007
Property 20,481.7
Other non-current assets 1,855.2
Current assets 1,721.2
Non-current liabilities -1,883.2
Current liabilities -135.1
Proportional share of net assets 22,039.7
All amounts in TEUR 2006/07
Revenues 186.8
Revaluation -905.4
Operating profit (EBIT) -1,298.0
Financial results 62.0
Income taxes 144.1
Net profit for the period -1,092.0
2.3.2.1.1WakelinPromotionsLimitedandKronaDesignLLC
As of 21 June 2006 IMMOEAST acquired 100% of the shares in the Cypriote Wakelin Promotions Limited, which has
an office in Russia, and the Russian Krona Design LLC. These companies own two shopping centres in Moscow:
Golden Babylon I and Golden Babylon II. Golden Babylon I, the larger of the two objects, is fully rented to attractive
tenants from the foodstuffs and electronics branches. Golden Babylon II was completed in August 2006 and is also
fully let.