GECINA - REFERENCE DOCUMENT 2017

03

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

The provisional goodwill, calculated on 100% of the capital of Eurosic, is as follows. This residual goodwill shown in the financial statements is €207.7 million and corresponds to cost synergies from the combination with Eurosic. It may be revised in the 12 months following the acquisition.

Determination of goodwill

€’000

Cost of 100% of the shares of Eurosic

3,264,432 2,913,482

Of which cash ■ Of which shares ■

350,950

Group share of net assets at fair value at August 29, 2017

3,056,744 207,688

GOODWILL

The table below shows the Group’s share of operating income starting from August 29, 2017, as shown in the consolidated statement of comprehensive income.

12/31/2017

In €’000

GROSS RENTAL INCOME Expenses not billed to tenants

70,280 (2,921) 67,359

NET RENTAL INCOME

CURRENT OPERATING INCOME ON FINANCE LEASE TRANSACTIONS CURRENT OPERATING INCOME ON THE HOTEL ACTIVITY

4,570

275 519

REAL ESTATE MARGIN

Services and other income (net)

1,027

Overheads

(8,044) 65,706 (3,041) (12,571)

EBITDA

Gains or losses on disposals Change in value of properties

Amortization

(32)

Net impairments and provisions Impacts of the business combination

1,121

(2,794) 48,389

OPERATING INCOME

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