IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
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4. Notes to the Balance Sheet<br />
4.1 Property<br />
Additional information on the accounting and valuation principles related to these balance sheet items are provided<br />
under point 3.4.<br />
Detailed information on the development of fixed assets is provided below, whereby the effects of changes in the<br />
consolidation range are shown separately. Also shown separately are currency translation differences, which result<br />
from the translation of assets by foreign companies using different exchange rates at the beginning and end of the<br />
year.<br />
4.1.1 Investment properties<br />
The development of the cost of investment properties<br />
is shown in the following table:<br />
All amounts in TEUR Investment properties<br />
Balance on 1 May 2005 433,960.5<br />
Change in consolidation range 834,238.3<br />
Change in consolidation method 37,963.4<br />
Currency translation adjustments 27,881.6<br />
Additions 52,583.1<br />
Disposals -4,031.6<br />
Reclassification 57,245.7<br />
Balance on 30 April <strong>2006</strong> 1,439,840.9<br />
Balance on 1 May <strong>2006</strong> 1,439,840.9<br />
Change in consolidation range 816,756.9<br />
Change in consolidation method 124,104.1<br />
Currency translation adjustments 75,739.5<br />
Additions 269,419.0<br />
Disposals -2,517.1<br />
Reclassification 119,7<strong>07</strong>.1<br />
Balance on 30 April 20<strong>07</strong> 2,843,050.4<br />
The development of the fair value of investment<br />
properties is as follows:<br />
All amounts in TEUR Investment properties<br />
Balance on 1 May 2005 455,165.6<br />
Change in consolidation range 834,434.9<br />
Change in consolidation method 41,958.6<br />
Currency translation adjustments 28,005.1<br />
Additions 52,583.1<br />
Disposals -4,015.6<br />
Revaluation 133,463.8<br />
Impairment -12,574.8<br />
Reclassification 57,355.9<br />
Balance on 30 April <strong>2006</strong> 1,586,376.6<br />
Balance on 1 May <strong>2006</strong> 1,586,376.6<br />
Change in consolidation range 816,756.9<br />
Change in consolidation method 136,852.9<br />
Currency translation adjustments 86,997.6<br />
Additions 269,419.0<br />
Disposals -2,517.1<br />
Revaluation 567,003.6<br />
Impairment -73,908.5<br />
Reclassification 114,933.6<br />
Fair value reflects the current market situation and circumstances as of the balance sheet date. The best evidence of<br />
fair value is normally provided by prices quoted on an active market for similar properties that have a similar location<br />
and conditions as well as comparable rental and other contractual relationships. The fair value of <strong>IMMOEAST</strong> properties<br />
is determined by expert opinions, which are prepared by independent valuation experts. The function of the<br />
independent expert is filled by Colliers International for the CEE and SEE segment and DTZ for the CIS segment.<br />
Notes<br />
Balance on 30 April 20<strong>07</strong> 3,501,914.5<br />
<strong>Report</strong> by the Executive Board 185<br />
Highlights <strong>2006</strong>/<strong>07</strong><br />
Business Model and Strategy<br />
Portfolio Structure<br />
Corporate Governance and Outlook<br />
Property Portfolio<br />
Development of Business<br />
Consolidated Financial Statements<br />
Service and Glossary<br />
IAS 40.76
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