MRM - 2018 Registration document
3
General information on the issuer and its capital
Consolidated financial statements for the financial year ended 31 December 2018
Note 7
Segment information
Accounting principles
IFRS 8 – Operating Segments, effective since 1 January 2009, sets out the presentation of information to be provided for each operating segment. Operating segments determined on the basis of internal reporting correspond to an activity: • that can generate income and that incurs expenses; • whose operating income is regularly examined by the entity’s chief operating decision-maker in order to allocate resources to the various segments and assess their performance; • for which individual financial information is available. In view of these requirements, the Group has divided its property portfolio into operating segments according to the real estate market in which they are located. Namely the retail and office rental segments. These operating segments are best suited to assess the nature and financial impact of the Company’s activities and the economic climate in which it trades. The Group has moreover assigned its head office as a non-operating segment to handle transactions falling outside the remit of an operating segment.
7.1 Income statement by segment
The main line items of the standalone income statement are as follows:
Consolidated income statement as of 31/12/2018
Offices
Retail
Head office
Total
(in thousands of euros)
Gross rental revenues
785
8,746
- - -
9,531
-752
-2,115
-2,867
External property expenses not recovered
NET RENTAL REVENUES
34
6,630
6,664
Operating expenses
-114
-706
-1,634
-2,455
Reversals of provisions and impairment
29
269
315
612
Provisions and impairment Other operating income Other operating expenses
-239
-602
-1
-842
57
47
33
136
-63
-43
-347
-453
OPERATING INCOME BEFORE DISPOSALS AND CHANGE IN FAIR VALUE OF PROPERTIES
-296 -110
5,594
-1,635
3,663
Result on disposals of properties Change in fair value of properties
-
- -
-110
-13,981 -8,387
-12,102 -8,549
1,879
OPERATING INCOME Gross borrowing cost
1,472
-1,635
-218
-1,264
-10
-1,493
M.R.M. 2018 REGISTRATION DOCUMENT
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