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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