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Annual Report 2015
CONSOLIDATED INCOME STATEMENT
(€ thousand)
31/12/15
31/12/14
Gross rents
214,454
56,761
Office
63,326
3,898
High street retail
91,091
44,242
Shopping centers
29,334
7,776
Logistics
12,703
845
Hotels
11,432
-
Rented residential
5,601
-
Other
967
-
Other income
4,690
381
Total Revenues
219,144
57,142
Incentives
(2,363)
(145)
Collection loss
(336)
-
Total operating expenses
(55,193)
(19,092)
Property expenses not recharged to tenants
(10,236)
(2,584)
Personnel expenses
(15,710)
(3,079)
General expenses recurring
(3,808)
(986)
General expenses non-recurring
(25,439)
(12,443)
EBITDA
161,252
37,905
Depreciation
(107)
(35)
Gain / (losses) on disposal of assets
3,986
126
Provision surpluses
476
-
EBIT
165,607
45,243
Net interest expense
(53,594)
(17,963)
Negative goodwill on business combinatte
-
7,247
Impairment of goodwill upon initial location
(231,852)
-
Absorption of the revaluation of investment property
(70,336)
-
Change in fair value of investment property
314,586
49,352
Change in fair value of financial instruments
(67,940)
(25,920)
Share in earnings of equity method investees
805
-
PROFIT BEFORE TAX
57,276
50,712
Income taxes
(8,323)
(1,042)
PROFIT (LOSS) FOR THE PERIOD
48,953
49,670
Minorities
125
-
PROFIT (LOSS) FOR THE PERIOD ATTRIBUTABLE
49,078
49,670