GECINA - REFERENCE DOCUMENT 2017

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

INCOME STATEMENT FOR BUSINESS SEGMENTS AT DECEMBER 31, 2016

Total continued operations

Student residences

Discontinued operations

Segments total

Offices Residential

In €’000

OPERATING INCOME Rental revenues on offices properties Rental revenues on residential properties Rental revenues on healthcare properties Rental revenues on students residences REVENUE: GROSS RENTAL INCOME

368,141

8,061

376,202 110,420

376,202 110,420

4,766 105,655

0

39,362 39,362

14,046 14,046 14,046 500,669

14,046

372,907 113,715

39,362 540,031

Expenses not billed to tenants

(16,410) 356,497

(20,373)

(3,953)

(40,735)

(436)

(41,171)

RENTAL MARGIN MARGIN ON RENTS

93,342

10,093 459,934

38,926 498,860

03

95.6% 82.1% 71.9% 91.9% 98.9% 92.4%

Services and other income (net) Salaries and fringe benefits

1,008

(148)

403

1,263

74

1,337

(45,748) (18,823) 396,626 50,669 (4,669) (14,262) 961,327 (87,566)

(45,748) (19,277)

Net management costs

(454)

EBITDA

38,546 435,172

Net gains on disposals of properties

16,460 34,210 471,170 59,574

-

(2,265) (3,008)

48,404 529,955 (4,669) (14,262)

Change in value of properties

2,219 532,963

Amortization

Net impairments

OPERATING INCOME Net financial expenses

33,273 994,600

(780)

(88,346)

Financial provisions and amortization Change in value of financial instruments and debt Premium and costs paid on the repurchased bonds Net income from equity-accounted investments Consolidated net income linked to non-controlling interests CONSOLIDATED NET INCOME LINKED TO OWNERS OF THE PARENT ASSETS AND LIABILITIES BY SEGMENTS AS AT DECEMBER 31, 2016 Property holdings (except headquarters) PRE-TAX INCOME Taxes

0

0

(26,126)

116 (26,010)

(64,230)

(64,230)

61

61

783,466 (3,521)

32,609 816,075

(238)

(3,759)

1,156

1,156

781,101

32,371 813,472

9,372,427 2,390,906 253,377 12,016,710

0 12,016,710

196,699

-

349 197,048

-

197,048 547,406 116,675 (10,726)

of which acquisitions ■

12,830 534,576 103,664 11,816

-

547,406

(0) (0)

of which properties for sale ■ Amounts due from tenants

1,196 116,675

Impairments of tenants’ receivables Security deposits received from tenants

(3,454)

(6,763)

(509)

(10,726)

-

37,419 10,415

1,467 49,301

0 49,301

101

GECINA - REFERENCE DOCUMENT 2017