IMMOEAST Annual Report 2006/07

2.3.5 Structural changes/change in consolidation method
Structural changes represent the impact of shifts in investments in other companies between the parent company
(IMMOEAST) and the minority shareholders of the relevant consolidated subsidiaries or companies included through
proportionate consolidation which, in turn, have their own consolidated companies with minority interests. The term
structural changes also includes the acquisition of shares in companies with minority interests, where these acquisitions
have an impact on group equity, as well as
partial deconsolidation measures and successive
All amounts in TEUR Atom Centrum a.s.
share purchases without transition consolidations
that lead to a shift in the earned equity (either
from the group’s share to minority interest, or the
reverse) of enterprises in which the company that
is partially deconsolidated has a controlling or joint
management interest as defined in IAS 31.
Cash and cash equivalents
Receivables and other assets
Deferred tax assets
Property
Tangible assets
Financial liabilities
Trade accounts payable
903.1
603.4
288.9
28,607.5
0.9
-7,431.1
-28.3
The investment in Atom Centrum a.s. (office building
Pankrac House) was increased from 50% to 100%
as of 27 June 2006, which resulted in a changeover
from proportionate to full consolidation. The impact
of the transition consolidation of this company is
shown in the following table.
Provisions
Other liabilities
Deferred tax liabilities
Currency translation adjustment
Acquired net assets
(Negative) goodwill
Outstanding purchase price
0.0
-499.5
-4,941.6
-1,121.9
16,381.5
7,606.0
0.0
Total purchase price 23,987.5
Less cash and cash equivalents acquired -903.1
Net purchase price for Atom Centrum a.s. 23,084.4
In addition, IMAK CEE N.V. and IMAK Finance B.V.
were acquired in full, these companies were founded
in 2004/05 as joint venture between IMMOEAST
and the Akron Group, an Austrian property developer.
IMMOEAST owned 56.6% of the shares up
to this transaction. The purchase of the remaining
shares resulted in a changeover from porportionate
to full consolidation for these companies during the
first quarter of the reporting year. The impact of the
transition consolidation of the companies is shown
in the following table.
Notes
All amounts in TEUR IMAK companies
Cash and cash equivalents 2,873.4
Receivables and other assets 2,088.9
Deferred tax assets 1,394.9
Property 134,226.2
Tangible assets 44.3
Financial liabilities -68,870.8
Trade accounts payable -1,606.3
Provisions -1,877.6
Other liabilities -1,422.4
Deferred tax liabilities -15,016.3
Acquired net assets 51,834.4
(Negative) goodwill 10,839.9
Outstanding purchase price -3,475.2
Total purchase price 59,199.1
Less cash and cash equivalents acquired -2,873.4
Net purchase price for property companies 56,325.7
Report by the Executive Board 169
Highlights 2006/07
Business Model and Strategy
Portfolio Structure
Corporate Governance and Outlook
Property Portfolio
Development of Business
Consolidated Financial Statements
Service and Glossary