IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
IMMOEAST Annual Report 2006/07
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
Non-current liabilities<br />
Non-current liabilities rose by 81% or TEUR 666,285.2 to TEUR 1,486,306.1, primarily as a result of<br />
liabilities taken over in connection with the acquisition of companies. Deferred tax liabilities also<br />
increased by a substantial 153% to TEUR 473,099.1, above all due to the revaluation of assets as<br />
part of the initial consolidation of acquisitions or the revaluation of properties at year-end.<br />
Current liabilities<br />
Current liabilities rose by TEUR 113,323.1 to TEUR 318,801.8.<br />
Net asset value<br />
Results for <strong>2006</strong>/<strong>07</strong><br />
All amounts in TEUR <strong>2006</strong>/<strong>07</strong> 2005/06<br />
Equity before minority interests 4,9<strong>07</strong>,297.5 1,661,971.7<br />
Goodwill -180,722.4<br />
Deferred tax assets -61,089.0 -23,042.5<br />
Deferred tax liabilities<br />
Property under<br />
473,099.1 5,138,585.2 186,946.7 1,825,876.0<br />
construction (carrying value) 242,772.6 85,632.7<br />
Property under construction (fair value) 569,1<strong>07</strong>.9 326,335.3 95,387.3 9,754.6<br />
Inventories (carrying value) 81,694.3<br />
Inventories (fair value)<br />
Residual value of forward purchase contracts and<br />
151,751.6 70,057.3<br />
investments in other companies carried at cost 41,144.9<br />
Property held for sale (carrying value) 0.0 42,847.6<br />
Property held for sale (fair value) 0.0 0.0 54,125.0 11,277.4<br />
Shares in associated companies (carrying value) 372,468.8 21,574.4<br />
Shares in associated companies (fair value) 438,102.6 65,633.7 39,979.4 18,404.9<br />
Net asset value 5,641,756.5 1,865,312.9<br />
Number of shares (in 1,000) 555,882.8 222,353.1<br />
Net asset value per share (in EUR) 10.2 8.4<br />
Net asset value per share rose by 21.4% from EUR 8.4 in the prior year to EUR 10.2 in <strong>2006</strong>/<strong>07</strong>. This<br />
figure includes the valuation of all development projects, inventories and investments in other companies<br />
that are not carried at fair value. The increase was supported by two main factors: on the one<br />
hand, <strong>IMMOEAST</strong> was able to acquire numerous new development projects that carry a high potential<br />
for future earnings and, on the other hand, the yield compression on investment properties led<br />
to significant increases in value. The calculation of net asset value is based on a Best Practices<br />
Policy Recommendation (6.3) of the European Public Real Estate Association (EPRA).<br />
<strong>Report</strong> by the Executive Board 83<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 />
Net asset value rises by 21.4%<br />
to EUR 10.2 per share
Change language