IMMOEAST Annual Report 2006/07

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50 IMMOEAST Annual Report 2006/07 Information on the IMMOEAST share Contact for investor relations Margit Hermentin Shareholders’ telephone +43/1/532 87 60-0 E-mail investor@immoeast.com Internet www.immoeast.com Stock market Vienna Stock Exchange: Standard Market, Prime Market segment, Ticker Symbol IEA Warsaw Stock Exchange (since May 2007): Main Market, Ticker Symbol IEA ISIN AT0000642806 Reuters IMEA.VI Bloomberg IEA AV Equity Included in the following indexes WBI, ATX Prime, Immobilien-ATX, EPRA, GPR 15, GPR 20, CA IB Emerging Europe Real Estate Index, MSCI World, MSCI World Real Estate, MSCI Europe, DJ Euro Stoxx, DJ Stoxx 600, FTSE World Europe, FTSE World Mid Cap IPO 12.12.2003 Key Data on the IMMOEAST share 2006/07 Change in % 2005/06 2004/05 Equity as of 30.4. in EUR mill. 4,907.3 195.3% 1,662.0 407.7 Number of shares as of 30.4. in mill. 555.9 150.0% 222.4 59.3 Annual high in EUR 12.0 29.0% 9.3 7.3 Annual low in EUR 8.2 18.8% 6.9 6.1 Price at year-end in EUR 10.4 20.9% 8.6 7.2 Market capitalisation as of 30.4. in EUR mill. 5,751.2 200.8% 1,912.2 428.7 Stock market turnover in EUR mill. Fair value as of 30.4. in EUR mill. 5,831.7 114.6% 2,717.4 197.9 (incl. contracted investments) 9,019.2 115.7% 4,181.0 648.8 *) Net asset value per share in EUR 10.2 21.4% 8.4 7.7 Earnings per share in EUR 1.0 25.0% 0.8 1.0 Price/earnings ratio as of 30.4. *) Fair value, excl. contracted investments 10.2 -7.3% 11.0 7.5 Market Capitalisation and Weighting in the ATX Prime Market Weighted by free float as of 29.6.2007 Company Market capitalisation EUR mill. Weighting in % Erste Bank der Österreichischen Sparkassen AG 13,298.9 15.1% OMV AG 11,135.3 12.6% Raiffeisen International Bank Holding AG 8,402.0 9.5% VOESTALPINE AG 7,425.0 8.4% Telekom Austria AG 6,382.5 7.2% IMMOFINANZ AG 4,961.8 5.6% IMMOEAST AG 4,365.1 5.0% Wienerberger AG 4,057.0 4.6% Verbundgesellschaft AG KAT. A 2,860.3 3.2% Wiener Städtische Versicherung AG 2,772.0 3.1% Andritz AG 1,910.6 2.2% CA Immobilien Anlagen AG 1,903.1 2.2% BOEHLER-UDDEHOLM AG 1,887.0 2.1% Conwert Immobilien Invest AG 1,220.6 1.4% Flughafen Wien AG 1,151.6 1.3%
Corporate Governance Report Commitment to the Austrian Corporate Governance Code The Austrian Corporate Governance Code is a voluntary, self-regulating work that comprises elements of Austrian stock corporation law and recognised international standards of good corporate management. The goals of the code include the creation of more transparent corporate structure and effective control as well as the provision of information on the financial position and development of a company to all stakeholder groups. IMMOEAST is committed to compliance with the rules of the Austrian Corporate Governance Code in its current version from January 2006, and is dedicated to the principles of responsible management in order to realise a sustainable and long-term increase in the value of the company. Furthermore, special emphasis is placed on the development and continuous improvement of an efficient system of corporate control and risk management. The code comprises important legal requirements (“L rules”) as well as recognised international standards, whereby any failure to observe these standards (“C rules”) must be disclosed and explained. In addition, the code includes a number of recommendations (“R rules”) that exceed mandatory requirements and call for voluntary compliance. IMMOEAST complied with the Austrian Corporate Governance Code during the 2006/07 financial year. The company deviated from the following C rule during the past year, and explains this difference as follows: Rule 18 Depending on the size of a company, an internal audit function must be installed as a separate staff department or these activities must be outsourced to a qualified institution. A risk analysis performed by IMMOEAST indicated that the creation of a traditional internal audit department would not support the reasonable optimisation of risk management because of the specific characteristics of the group. In accordance with the results of this analysis, internal control and audit functions are carried out as part of group controlling activities. The Executive Board provides regular reports to the Supervisory Board on the results of monitoring and controls. IMMOEAST will also comply with the regulations of the Austrian Corporate Governance Code during the 2007/08 financial year. Since an internal audit department was established as a separate staff department at the beginning of 2007/08, IMMOEAST now also meets the requirements defined in rule 18 of the code. Executive Board and Supervisory Board Members of the Executive Board Karl Petrikovics, born 20 May 1954, appointed to 30 April 2010 Chairman and Chief Executive Officer Norbert Gertner, born 15 February 1956, appointed to 30 April 2010 Member of the Executive Board Christian Thornton, born 28 January 1969, appointed to 30 April 2010 Member of the Executive Board Edgar Rosenmayr, born 14 November 1956, appointed to 30 April 2010 Deputy Member of the Executive Board Report Report by the Executive Board 51 Highlights 2006/07 Business Model and Strategy Portfolio Structure Corporate Governance and Outlook Property Portfolio Development of Business Consolidated Financial Statements Service and Glossary Support for Code in the version from January 2006
Page 1 and 2: 385��
Page 3 and 4: ��
Page 5 and 6: OF RT OF RS LG OF RT RS OF RT RS OF
Page 7 and 8: ��
Page 9 and 10: And just what does this bring you?
Page 11 and 12: Contents Report by the Executive Bo
Page 13 and 14: Dear Shareholders, The goals set by
Page 15 and 16: EBIT: +246.4% in EUR million As of
Page 17 and 18: 6 5 7 Key investments In August 200
Page 19 and 20: 13 In December 2006 IMMOEAST acquir
Page 21 and 22: Advance to number 2 in Continental
Page 23 and 24: Broad-based diversification of the
Page 25 and 26: PL, Katowice, Debowe Tarasy - Siles
Page 27 and 28: Prime Property: leading property de
Page 29 and 30: Management contract Asset managemen
Page 31 and 32: Outlook and strategic goals Propert
Page 33 and 34: ��
Page 35 and 36: The geographic structure of the por
Page 37 and 38: Ukraine & Russia: first direct inve
Page 39 and 40: In addition to the increased stabil
Page 41 and 42: Sector let space. Other purchases o
Page 43 and 44: Higher share of development project
Page 45 and 46: The largest single investment in th
Page 47 and 48: Sector Short-term investment of cap
Page 49 and 50: Capital Market & Development of Sha
Page 51: Strengthening of investor relations
Page 55 and 56: Transactions with related parties I
Page 57 and 58: ment of independence from the audit
Page 59 and 60: Investment Programme 2007/08 Invest
Page 61 and 62: Strategic partnerships 9.0% Investm
Page 63 and 64: Subsequent Events — TriGránit Ur
Page 65 and 66: CZ-Prague Pankrác House CZ-Prague
Page 67 and 68: RO-Bucharest Pipera II RO-Bucharest
Page 69 and 70: RUS-Moscow iNi Rostokino SK-Bratisl
Page 71 and 72: The Development of Business in 2006
Page 73 and 74: 3. Corporate Profile IMMOEAST is on
Page 75 and 76: Russia 15.2% Bulgaria 0.3% Slovenia
Page 77 and 78: 2006/07. However, the extensive inv
Page 79 and 80: Results for 2006/07 tion of these i
Page 81 and 82: The SEE segment generated TEUR 223,
Page 83 and 84: 5.2 Financial position Cash flow st
Page 85 and 86: Non-current liabilities Non-current
Page 87 and 88: The expected net operating income f
Page 89 and 90: 6.1.2. Development of business in C
Page 91 and 92: Recreation/hotel properties 1.5% Re
Page 93 and 94: The development of business in Pola
Page 95 and 96: 6.2 Segment SEE Overview of propert
Page 97 and 98: The development of business in Roma
Page 99 and 100: Key Data Slovenia Croatia Serbia Re
Page 101 and 102: Key data on Russia Revenues in TEUR
Page 103 and 104:
Consolidated Financial Statements o
Page 105 and 106:
IMMOEAST AG Consolidated income sta
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IMMOEAST AG Consolidated cash flow
Page 109 and 110:
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
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4. Notes to the Balance Sheet 4.1 P
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The carrying values of properties u
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The results of the calculation are
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The first category includes land th
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All amounts in TEUR Goodwill Carryi
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4.3.2a.8 Centre Invest Goodwill 4,0
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4.3.2b.5 BB Centrum Building C Good
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4.3.4 Differences arising from the
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Investments in other companies incl
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The other investments recognised at
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Thereof not impaired and due within
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4.10 Financial liabilities Addition
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Report by the Executive Board Highl
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4.11 Trade accounts payable Thereof
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The corporate income tax rate in Bu
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The impairment charges to the follo
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5.6 Other operating expenses All am
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All amounts in TEUR 2006/07 2005/06
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7. Segment Reporting IFRS 8 Operati
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IMMOEAST is a property company that
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Segment liabilities consist of fina
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upward potential for the valuation
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The market value represents the amo
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8.4 Transactions with related parti
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8.4.8 Remuneration of corporate bod
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Group companies of IMMOEAST AG Nomi
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Nominal Initial Company Country Hea
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Page 243 and 244:
Page 245 and 246:
Opinion Our audit did not give rise
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Analysis of Results As of 9 October
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Analysis of Results As of 13 July 2
Page 251 and 252:
Analysis of Results liabilities and
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Analysis of Results The following t
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Analysis of Results Romania reporte
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Slovakia IMMOEAST AG acquired 10% o
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Valuation Certificates Romania Valu
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Valuation Certificates Report by th
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Page 265 and 266:
Page 267 and 268:
Financial Calendar 13 September 200
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IMMOEAST Annual Report 2006/07

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