GECINA - REFERENCE DOCUMENT 2017

ANNUAL FINANCIAL STATEMENTS

Notes to the annual financial statements at December 31, 2017

4.3.4

NOTES ON THE BALANCE SHEET ITEMS

Fixed assets

4.3.4.1

GROSS VALUE OF ASSETS

Gross brought forward

Transfers between items Acquisitions Decreases

Gross carried forward

In €’000

INTANGIBLE ASSETS Concessions, licenses TANGIBLE FIXED ASSETS

6,196 6,196

1,316 1,316 28,912

7,511 7,511

4,265,607 2,165,592 1,748,114

128,815 61,017 56,918

4,165,703 2,104,775 1,722,174 25,421 10,676 258,544 44,113 8,693,057 4,785,704 2,425,207 1,131,054

Land

200

Buildings

9,378

21,600

Buildings on third party land Other tangible assets Merger losses on land Fixed assets in progress FINANCIAL INVESTMENTS

27,779

2,358

8,038

2,642

4

267,063 49,021 4,301,376 2,372,777 1,565,108

8,518

(9,378)

4,470

4,523,084 2,412,927

131,403

04

Equity investments

Receivables related to equity investments

986,320 126,220

Other financial investments

21,587 178,728

1,114,336

4,869

Loans

152

85

178,795 10,006 96,773 65,519

Other financial investments Merger losses on securities

884

9,350

229

96,773 65,519

Advances on property acquisitions

TOTAL

8,573,179

4,553,311 260,218 12,866,272

GEC 22 for €124 million; ■ Michelet Levallois for €113 million; ■ GEC 7 for €106 million; ■ Immobilière et Commerciale de Banville for €100 million. ■ The other equity investments consist of: subordinated bonds redeemable in shares (OSRA) ■ acquired with the Eurosic SA shares in the amount of €890 million; treasury shares, for €241 million (see Note 4.3.4.4). ■ Loans include a participating loan arranged in 2010 with the Spanish subsidiary SIF Espagne for €178 million. Other financial fixed assets include coupons accrued on Eurosic OSRA (subordinated bonds redeemable in shares) for €9 million.

Changes in equity investments mainly concern: the acquisition of Eurosic SA’s shares in the amount of ■ €2.4 billion; the acquisition of SCI Des Vaux’s shares in the amount of ■ €38 million; Receivables related to equity investments mainly cover long-term financing set up by Gecina with its subsidiaries, in the form of long-term shareholder loans.

The largest loans are for: Eurosic for €444 million; ■

Avenir Danton Défense for €315 million; ■ Avenir Grande Armée for €215 million; ■ Tour City 2 for €185 million; ■

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GECINA - REFERENCE DOCUMENT 2017