GECINA - REFERENCE DOCUMENT 2017
03
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
The provisional goodwill, calculated on 100% of the capital of Eurosic, is as follows. This residual goodwill shown in the financial statements is €207.7 million and corresponds to cost synergies from the combination with Eurosic. It may be revised in the 12 months following the acquisition.
Determination of goodwill
€’000
Cost of 100% of the shares of Eurosic
3,264,432 2,913,482
Of which cash ■ Of which shares ■
350,950
Group share of net assets at fair value at August 29, 2017
3,056,744 207,688
GOODWILL
The table below shows the Group’s share of operating income starting from August 29, 2017, as shown in the consolidated statement of comprehensive income.
12/31/2017
In €’000
GROSS RENTAL INCOME Expenses not billed to tenants
70,280 (2,921) 67,359
NET RENTAL INCOME
CURRENT OPERATING INCOME ON FINANCE LEASE TRANSACTIONS CURRENT OPERATING INCOME ON THE HOTEL ACTIVITY
4,570
275 519
REAL ESTATE MARGIN
Services and other income (net)
1,027
Overheads
(8,044) 65,706 (3,041) (12,571)
EBITDA
Gains or losses on disposals Change in value of properties
Amortization
(32)
Net impairments and provisions Impacts of the business combination
1,121
(2,794) 48,389
OPERATING INCOME
70 GECINA - REFERENCE DOCUMENT 2017
www.gecina.fr
Made with FlippingBook Online newsletter