IMMOEAST Annual Report 2006/07

2.3.3.4 Regional subsegment Serbia
2.3.3.4.1 OCEAN ATLANTIC DORCOL DOO
IMMOEAST also completed its first investments in Serbia during the second quarter of the 2006/07 Business Year.
An 80% stake in OCEAN ATLANTIC DORCOL DOO, a company with headquarters in Belgrade, was acquired as of
24 August 2006, this transaction added the Francuska residential project to the IMMOEAST portfolio. The project
entails the construction of 130 apartments and 184 underground garage spaces.
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:
Segment SEE
Location of property Serbia
Company OCEAN ATLANTIC DORCOL DOO
Date of initial consolidation 24.8.2006
All amounts in TEUR
Cash and cash equivalents 917.4
Receivables and other assets 1,823.6
Trade accounts payable -985.8
Other liabilities -1,714.8
Provisions -9.9
Minority interests -6.1
Acquired net assets 24.5
(Negative) goodwill 138.2
Purchase price paid in cash 162.7
Less cash and cash equivalents acquired -917.4
Net purchase price for property company -754.7
Notes
All amounts in TEUR 30 April 2007
Property 0.0
Other non-current assets 18.9
Current assets 3,514.3
Non-current liabilities -912.9
Current liabilities -861.8
Proportional share of net assets 1,758.5
All amounts in TEUR 2006/07
Revenues 1.2
Revaluation 0.0
Operating profit (EBIT) -258.3
Financial results -19.5
Income taxes 14.0
Net profit for the period -263.9
Report by the Executive Board 155
Highlights 2006/07
Business Model and Strategy
Portfolio Structure
Corporate Governance and Outlook
Property Portfolio
Development of Business
Consolidated Financial Statements
Service and Glossary