GECINA - REFERENCE DOCUMENT 2017
03
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
3.5.8
SEGMENT REPORTING
The Group only operates in France (except for minimal operations in other European countries). It is structured into various business lines, as follows:
INCOME STATEMENT FOR BUSINESS SECTORS AT DECEMBER 31, 2017
Student residences
Other sectors (1)
Segments total
Offices
Residential
In €’000
OPERATING INCOME Rental revenues on offices properties Rental revenues on residential properties Rental revenues on students residences REVENUE: GROSS RENTAL INCOME
430,720
8,145
0 0
0 0 0 0 0 0
438,865 104,921 15,129 558,916 (42,029) 516,887
4,618
100,303
0
0
15,129 15,129
435,338
108,448 (18,891)
Expenses not billed to tenants
(19,772)
(3,366)
RENTAL MARGIN MARGIN ON RENTS
415,566
89,557
11,763
95.5% 82.6% 77.8%
92.5%
CURRENT OPERATING INCOME ON FINANCE LEASE TRANSACTIONS
4,570
4,570
CURRENT OPERATING INCOME ON THE HOTEL ACTIVITY
275 519
275 519
REAL ESTATE MARGIN
Services and other income (net) Salaries and fringe benefits
3,113
95
342
20
3,571
(51,595) (20,245) 453,982 20,048
Net management costs
EBITDA
0 0
Net gains on disposals of properties
(7,542) 945,438
27,590 601,493
0
Change in value of properties
8,841
0 1,555,772
Amortization
(5,505)
Net impairments
8,730
Impacts of the business combination
(28,558) 2,004,469 (80,414)
OPERATING INCOME Net financial expenses
Financial provisions and amortization
352
Change in value of financial instruments and debt Premium and costs paid on the repurchased bonds Net income from equity-accounted investments
12,734 (23,800)
4,519
PRE-TAX INCOME
1,917,860
Taxes
(6,923)
Consolidated net income linked to non-controlling interests
(15,375)
CONSOLIDATED NET INCOME LINKED TO OWNERS OF THE PARENT ASSETS AND LIABILITIES BY SEGMENT AT DECEMBER 31, 2017 Property holdings (except headquarters)
1,895,562
15,621,435 4,382,662
2,810,084
303,877 842,731 19,578,126
0
0 391,456 4,774,118
of which acquisitions ■
176,680 129,910 (10,391) 74,949
402,012 10,046 (6,897)
0
0
578,692 159,441 (17,772) 86,789
of which properties for sale ■ Amounts due from tenants
765 18,721
Impairments of tenants’ receivables Security deposits received from tenants
(485) 2,006
0 0
9,834
The other business sectors include the financial lease, merchants of property and hotel company (1) operations.
100 GECINA - REFERENCE DOCUMENT 2017
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