IMMOEAST Annual Report 2006/07

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236 IMMOEAST Annual Report 2006/07 Nominal Initial Company Country Headquarters capital consolidation Transition consolidation increase in investment or structural change UKS Finance Kft. H Budapest 3,000,000 HUF 100.00% 30.4.2005 4.5.2006 V IMAK Finance B.V. NL Amsterdam 18,000 EUR 100.00% 30.4.2005 4.5.2006 V ARE 1 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V ARE 2 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V ARE 5 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V ARE 7 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V Flex Invest Sp. z o.o. PL Warsaw 51,000 PLN 100.00% 30.4.2005 4.5.2006 V Secure Bud Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V Al Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V Atlantis Invest Sp. z o.o. PL Warsaw 51,000 PLN 100.00% 30.4.2005 4.5.2006 V Ol Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V Omega Invest Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 30.4.2005 4.5.2006 V Centrum Olympia Olomuc a.s. CZ Prague 103,000,000 CZK 45.00% 10.5.2005 Q Harborside Imobiliara s.r.l. RO Bucharest 1,000 RON 75.00% 11.5.2005 V OÜ Robbins EST Tallinn 2,556 EEK 45.00% 27.5.2005 Q Stop.Shop Holding GmbH A Vienna 35,000 EUR 100.00% 31.5.2005 V IMMOEAST Projekt Alpha Holding GmbH A Vienna 35,000 EUR 100.00% 31.5.2005 V Center Invest Kft. H Budapest 3,000,000 HUF 100.00% 2.6.2005 V IMMOEAST Projekt Beta Holding GmbH A Vienna 35,000 EUR 100.00% 4.6.2005 V ARE 8 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 15.6.2005 4.5.2006 V ARE 9 Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 15.6.2005 4.5.2006 V IMMOEAST ALLEGRO Beteiligungs GmbH A Vienna 35,000 EUR 100.00% 28.6.2005 V Airport Property Development a.s. CZ Prague 1,000,000 CZK 100.00% 29.6.2005 V IMMOEAST Projekt Gamma Holding GmbH A Vienna 35,000 EUR 100.00% 2.7.2005 V IMMOEAST Projekt Delta Holding GmbH A Vienna 35,000 EUR 100.00% 8.7.2005 V IMMOEAST Projekt Epsilon Holding GmbH A Vienna 35,000 EUR 100.00% 8.7.2005 V Netlu spol.s.r.o. CZ Prague 200,000 CZK 50.00% 13.7.2005 Q IA Holding 1 Kft. H Budapest 2,183,000,000 HUF 100.00% 13.7.2005 4.5.2006 V IMMOEAST Slovakia s.r.o. SK Bratislava 200,000 SKK 100.00% 21.7.2005 V Cora GS s.r.l. RO Bucharest 300 RON 100.00% 25.7.2005 V NF 23 spol.s.r.o. CZ Prague 200,000 CZK 50.00% 10.8.2005 Q C.E.P.D. Kft. H Budapest 3,000,000 HUF 100.00% 31.8.2005 4.5.2006 V Optima A Kft. H Budapest 3,000,000 HUF 100.00% 1.9.2005 V Akvamarin Beta s.r.o. CZ Prague 200,000 CZK 100.00% 30.9.2005 V Pipera Office Project Ltd. CY Nicosia 1,000 CYP 50.00% 21.10.2005 Q PBT Invest s.r.l. RO Bucharest 400 RON 50.00% 21.10.2005 Q DH Logistik Kft. H Budapest 3,000,000 HUF 100.00% 1.11.2005 V Multi-ImmoEast Asset Management GmbH D Munich 25,000 EUR 45.00% 3.11.2005 Q A-I Investments Management Europe GmbH D Munich 25,000 EUR 50.00% 3.11.2005 Q Shark Park Holding Kft. H Budapest 2,320,000,000 HUF 100.00% 8.11.2005 4.5.2006 V Euro Businesspark Kft. H Budapest 372,970,000 HUF 100.00% 14.11.2005 4.5.2006 V IMMOEAST Projekt Lambda Holding GmbH A Vienna 35,000 EUR 100.00% 16.11.2005 V PERL INVEST a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q NP Investment a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q Prokopova Development a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q E.N.G. Property a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q JUNGMANNOVA ESTATES a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q Stetkova Property Invest a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q Currency Stake Type of consolidation
Nominal Initial Company Country Headquarters capital consolidation J.H. Prague a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q PAN Development a.s. CZ Prague 2,000,000 CZK 50.00% 9.12.2005 Q IMMOEAST Projekt Kappa Holding GmbH A Vienna 35,000 EUR 100.00% 20.12.2005 V IMMOEAST Projekt Jota Holding GmbH A Vienna 35,000 EUR 100.00% 20.12.2005 V IMMOEAST HRE Investment jeden Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V IMMOEAST HRE Investment dwa Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V IMMOEAST HRE Investment trzy Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V IMMOEAST HRE Investment cztery Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V IMMOEAST HRE Investment piec Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V IMMOEAST Projekt Investment jeden Sp.z o.o. PL Warsaw 50,000 PLN 100.00% 28.12.2005 V Nowe Centrum Sp. z o.o. PL Katowice 63,636,000 PLN 100.00% 31.12.2005 V ELCO Sp. z o.o. PL Katowice 50,000 PLN 100.00% 31.12.2005 V Polus Tower 2 a.s. SK Bratislava 75,213,900 SKK 100.00% 31.12.2005 V Polus Tower 3 a.s. SK Bratislava 13,100,000 SKK 100.00% 31.12.2005 V Polus a.s. SK Bratislava 222,767,000 SKK 100.00% 31.12.2005 V BA Energetika s.r.o. SK Bratislava 200,000 SKK 100.00% 31.12.2005 V IMMOEAST Projekt Sita Holding GmbH A Vienna 35,000 EUR 100.00% 4.1.2006 V Stavební a inzenýrská spol.s.r.o. CZ Prague 270,000 CZK 50.00% 4.1.2006 Q IMMOEAST Projekt Omega Holding GmbH Multi-ImmoEast Central European A Vienna 35,000 EUR 100.00% 5.1.2006 V Property Fund C.V. LU Luxembourg EUR 45.00% 24.1.2006 Q IMMOEAST Projekt Aries Holding GmbH A Vienna 35,000 EUR 100.00% 31.1.2006 V Blizzard Real Sp. z o.o. PL Warsaw 50,000 PLN 100.00% 31.1.2006 V Capri Trade s.r.l. RO Bucharest 200 RON 100.00% 10.2.2006 V IMMOEAST Projekt Capricornus Holding GmbH A Vienna 35,000 EUR 100.00% 17.2.2006 V IMMOEAST Projekt Caelum Holding GmbH A Vienna 35,000 EUR 80.00% 17.2.2006 V IMMOEAST Projekt Cassiopeia Holding GmbH A Vienna 35,000 EUR 100.00% 9.3.2006 V IMMOEAST Projekt Cepheus Holding GmbH A Vienna 35,000 EUR 100.00% 9.3.2006 V IMMOEAST Projekt Circinus Holding GmbH A Vienna 35,000 EUR 100.00% 9.3.2006 V S+B CEE ALPHA CYPRUS Ltd. CY Nicosia 10,000 CYP 50.00% 10.3.2006 Q MY BOX Uherske Hradiste s.r.o. CZ Prague 200,000 CZK 50.50% 10.3.2006 Q Bucharest Corporate Center s.r.l. RO Bucharest 8,068,929 RON 100.00% 22.3.2006 V Multi-IMMOEAST Master Luxembourg Otarfi s.r.l. LU Luxembourg EUR 45.00% 24.3.2006 Q Holtera Property a.s. CZ Prague 2,000,000 CZK 45.00% 30.3.2006 Q VALUEROI GRUP s.r.l. RO Bucharest 37,000 RON 75.00% 30.3.2006 V IMMOEAST Presto Beteiligungs GmbH A Vienna 35,000 EUR 100.00% 31.3.2006 V Prague Office Park I s.r.o. CZ Prague 38,600,000 CZK 100.00% 5.4.2006 V IMMOEAST Projekt Idamantes Holding GmbH A Vienna 35,000 EUR 100.00% 8.4.2006 V IMMOEAST Projekt Zerlina Holding GmbH A Vienna 35,000 EUR 100.00% 8.4.2006 V IMMOEAST Projekt Dorabella Holding GmbH A Vienna 35,000 EUR 100.00% 8.4.2006 V IMMOEAST Projekt Arbaces Holding GmbH A Vienna 35,000 EUR 100.00% 11.4.2006 V IMMOEAST Projekt Masetto Holding GmbH A Vienna 35,000 EUR 100.00% 11.4.2006 V IMMOEAST Projekt Equuleus Holding GmbH A Vienna 35,000 EUR 100.00% 12.4.2006 V IMMOEAST Projekt Eridanus Holding GmbH A Vienna 35,000 EUR 100.00% 12.4.2006 V IMMOEAST Projekt Cygnus Holding GmbH A Vienna 35,000 EUR 100.00% 13.4.2006 V IMMOEAST Projekt Hydrus Holding GmbH A Vienna 35,000 EUR 100.00% 13.4.2006 V IMMOEAST Projekt Ducentesimus Holding GmbH A Vienna 35,000 EUR 100.00% 13.4.2006 V IMMOEAST Projekt Secundus Holding GmbH A Vienna 35,000 EUR 100.00% 13.4.2006 V Currency Group companies Stake Report by the Executive Board 237 Highlights 2006/07 Business Model and Strategy Portfolio Structure Corporate Governance and Outlook Property Portfolio Development of Business Consolidated Financial Statements Service and Glossary Transition consolidation increase in investment or structural change Type of consolidation
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And just what does this bring you?
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Contents Report by the Executive Bo
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Dear Shareholders, The goals set by
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EBIT: +246.4% in EUR million As of
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6 5 7 Key investments In August 200
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13 In December 2006 IMMOEAST acquir
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Advance to number 2 in Continental
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Broad-based diversification of the
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PL, Katowice, Debowe Tarasy - Siles
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Prime Property: leading property de
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Management contract Asset managemen
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Outlook and strategic goals Propert
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The geographic structure of the por
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Ukraine & Russia: first direct inve
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In addition to the increased stabil
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Sector let space. Other purchases o
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Higher share of development project
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The largest single investment in th
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Sector Short-term investment of cap
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Capital Market & Development of Sha
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Strengthening of investor relations
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Corporate Governance Report Commitm
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Transactions with related parties I
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ment of independence from the audit
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Investment Programme 2007/08 Invest
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Strategic partnerships 9.0% Investm
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Subsequent Events — TriGránit Ur
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CZ-Prague Pankrác House CZ-Prague
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RO-Bucharest Pipera II RO-Bucharest
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RUS-Moscow iNi Rostokino SK-Bratisl
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The Development of Business in 2006
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3. Corporate Profile IMMOEAST is on
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Russia 15.2% Bulgaria 0.3% Slovenia
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2006/07. However, the extensive inv
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Results for 2006/07 tion of these i
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The SEE segment generated TEUR 223,
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5.2 Financial position Cash flow st
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Non-current liabilities Non-current
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The expected net operating income f
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6.1.2. Development of business in C
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Recreation/hotel properties 1.5% Re
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The development of business in Pola
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6.2 Segment SEE Overview of propert
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The development of business in Roma
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Key Data Slovenia Croatia Serbia Re
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Key data on Russia Revenues in TEUR
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Consolidated Financial Statements o
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IMMOEAST AG Consolidated income sta
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IMMOEAST AG Consolidated cash flow
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Segment reporting Report by the Exe
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CIS Segment reporting Ukraine Other
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Segment reporting C I S Transition
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IMMOEAST AG Consolidated cash flow
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CIS Segment reporting Report by the
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The principle of fair presentation
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the measurement of the cost of the
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Proportionate consolidation is a me
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Potential voting rights are to be c
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Notes IMMOEAST made the following a
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Holding A Vienna IMMOEAST Projekt B
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The following table shows the conso
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Segment CEE Location of property Po
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2.3.1.1.7 Passat Real Sp. z o.o. Th
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2.3.1.3.2 Diamant Real s.r.o. The C
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centre of Prague, is almost fully l
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The following table shows the acqui
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2.3.3 Segment South-Eastern Europe
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2.3.3.3.2 Klyos Media s.r.l. On 9 O
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2.3.3.3.5 SBACARO s.r.l. The SIBIU
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2.3.3.3.9 S.C. IE Baneasa Project s
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2.3.3.3.12 S.C. Union Investitii s.
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2.3.3.4 Regional subsegment Serbia
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2.3.4Impactofinitialconsolidations
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Segment CEE CEE CEE CEE CEE CEE Loc
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Segment CEE CEE CEE CEE CEE Locatio
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Segment CEE CIS CIS CIS CIS Locatio
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Segment SEE SEE SEE SEE SEE Locatio
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Segment SEE SEE SEE SEE SEE Locatio
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2.3.5 Structural changes/change in
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The following exchange rates, which
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Subsequent expenditures on an intan
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3.4 Investment property Additional
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Financing costs are capitalised in
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lessee’s interest in both land an
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3.10.7 Limited partnership interest
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The provision is based on the best
Page 187 and 188: 4. Notes to the Balance Sheet 4.1 P
Page 189 and 190: The carrying values of properties u
Page 191 and 192: The results of the calculation are
Page 193 and 194: The first category includes land th
Page 195 and 196: All amounts in TEUR Goodwill Carryi
Page 197 and 198: 4.3.2a.8 Centre Invest Goodwill 4,0
Page 199 and 200: 4.3.2b.5 BB Centrum Building C Good
Page 201 and 202: 4.3.4 Differences arising from the
Page 203 and 204: Investments in other companies incl
Page 205 and 206: The other investments recognised at
Page 207 and 208: Thereof not impaired and due within
Page 209 and 210: 4.10 Financial liabilities Addition
Page 211 and 212: Report by the Executive Board Highl
Page 213 and 214: 4.11 Trade accounts payable Thereof
Page 215 and 216: The corporate income tax rate in Bu
Page 217 and 218: The impairment charges to the follo
Page 219 and 220: 5.6 Other operating expenses All am
Page 221 and 222: All amounts in TEUR 2006/07 2005/06
Page 223 and 224: 7. Segment Reporting IFRS 8 Operati
Page 225 and 226: IMMOEAST is a property company that
Page 227 and 228: Segment liabilities consist of fina
Page 229 and 230: upward potential for the valuation
Page 231 and 232: The market value represents the amo
Page 233 and 234: 8.4 Transactions with related parti
Page 235 and 236: 8.4.8 Remuneration of corporate bod
Page 237: Group companies of IMMOEAST AG Nomi
Page 241 and 242: Nominal Initial Company Country Hea
Page 243 and 244: Nominal Initial Company Country Hea
Page 245 and 246: Opinion Our audit did not give rise
Page 247 and 248: Analysis of Results As of 9 October
Page 249 and 250: Analysis of Results As of 13 July 2
Page 251 and 252: Analysis of Results liabilities and
Page 253 and 254: Analysis of Results The following t
Page 255 and 256: Analysis of Results Romania reporte
Page 257 and 258: Slovakia IMMOEAST AG acquired 10% o
Page 259 and 260: Valuation Certificates Romania Valu
Page 261 and 262: Valuation Certificates Report by th
Page 267 and 268: Financial Calendar 13 September 200
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IMMOEAST Annual Report 2006/07

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