GECINA - REFERENCE DOCUMENT 2017

04

ANNUAL FINANCIAL STATEMENTS Notes to the annual financial statements at December 31, 2017

AMORTIZATION

Balance brought forward

Balance carried forward

Allocations

Write-backs

In €’000

Intangible assets

2,338 2,338

1,482 1,482

3,820 3,820

Concessions, licenses Tangible fixed assets

533,585 515,924 13,028

58,884 56,494

20,650 19,647

571,820 552,770 12,498

Buildings

Buildings on third party land

468

998

Other tangible assets

4,633

1,923

4

6,551

TOTAL

535,923

60,366

20,650

575,640

IMPAIRMENT

Balance brought forward

Balance carried forward

Allocations

Write-backs

In €’000

Tangible fixed assets

74,907 65,880

62

53,751 51,241

21,218 14,640

Land

Buildings

9,027

62

2,510 5,685

6,579

Financial investments

335,861

15,767

345,942

Equity investments and related receivables and Group loans

270,669

15,767

5,685

280,750

Other financial investments

153

153

Advances on property acquisitions

65,039

65,039

TOTAL

410,768

15,829

59,436

367,161

Tangible fixed asset impairments are related to the impairments of portfolio properties when there is a sign of impairment (see Note 4.3.3.1.3 on impairment method). Impairment of investments and related receivables mainly concern SIF Espagne for €211 million.

The impairment of advances on property acquisitions is related to the advance granted to the Spanish company Bamolo, written down for €65 million (in order to reduce it to the land’s latest appraisal value of €0.5 million).

Operating receivables

4.3.4.2

12/31/2016

12/31/2017

In €’000

Rent due

15,922 (8,339)

23,211 (8,011) 15,200 50,375

Impairment of rent due

TOTAL RENT DUE AND RELATED RECEIVABLES

7,583

Group receivables Group income due

169,572

8,821 1,692 9,161 4,746 1,251 1,075

98

Miscellaneous income due

439

French state – income tax receivables

10,502

French state – VAT

6,274

Management agencies, co-ownerships and external managers

828

Miscellaneous other receivables Other receivables impairment TOTAL OTHER RECEIVABLES

7,812

(27,649) 168,669

(26,947) 49,381

Group receivables mainly comprise receivables derived from the centralized cash management and from Bami Newco, SIF Espagne’s subsidiary, for an amount of €20 million, which was fully written down.

SIF Espagne subsidiary’s €20 million guarantee in connection with the restructuring of financing facilities for Bami Newco which was called and paid by Gecina in November 2013 as ordered by the courts. The receivership proceedings for Bami Newco are ongoing.

This receivable of €20 million corresponds to Gecina’s guarantee (issued in 2010), counter-guaranteeing the Operating receivables have a maturity of less than one year.

116 GECINA - REFERENCE DOCUMENT 2017

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