GECINA - REFERENCE DOCUMENT 2017
CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements
Financial fixed assets
3.5.5.2
12/31/2016
12/31/2017
In €’000
Non-consolidated investments
110,462 65,741
109,421 65,519
Advances on fixed asset acquisitions
Deposits and guarantees Other financial fixed assets
1,521
1,019 1,183
65
TOTAL
177,789 (174,405)
177,142 (174,380)
Impairment (1) NET TOTAL (2) Impairment: (1)
3,384
2,762
Advances on fixed asset acquisitions
65,038
65,039
Equity interests and attached receivables
109,366
109,341
03
(2) Or wich €4,3 millions of Eurosic acquisition value.
The impairment of €174.4 million is related to the 49% equity interest in the Spanish company Bami Newco, which has been fully written down (€109.3 million) and the advance on property acquisition 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).
3.5.5.3 Equity-accounted investments This item reflects the share held by the Group in the companies in which the Group exercises significant influence. As shown in the table below, four companies accounted for by the equity method were sold in 2017. Their share of income continued to be included in the statements for the financial year until the disposal date of December 21, 2017. The main elements of the financial situation of the main companies with investments that do not afford control are presented below:
SCI Eurosic
Eurosic Saint Augustin SCI (1)
Euler Hermes SPPICAV 235,500
SCI Eurosic Batignolles (1)
SCI Provence Bureaux (1)
SNC N2 Promotion
Risque et sérénité
14, rue de Londres (1)
Total
In €’000
Property holdings
0
0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 0 0 0 0 0 0
0 235,500 0 14,139 0 249,639 0 215,801 0 32,000 0 1,838 0 249,639
Other assets
6,074
248 7,816
TOTAL ASSETS
241,574 208,178
248
7,816
Shareholders’ equity
36 7,586
External loans and debts with partners
32,000
0
0
Other liabilities
1,396
212 248
230
TOTAL LIABILITIES
241,574
7,816
Revenue
5,479 3,130
0
0
0
0
0
3,999
9.478
Net income
11
13 1,703
(1,668)
12,023
(395)
14,817
% held
19.90% 30.00% 43.24% 33.33% 33.33% 33.33% 33.33%
SHARE OF INCOME
623
3
5
568
(556)
4,007
(132)
4,519
SHAREHOLDERS’ EQUITY
208,178
36
7,586
0
0
0
0 215,801
Securities of companies accounted for under the equity method
41,427
11 3,280
0
0
0
0 44,718
(1) Companies sold in 2017.
81
GECINA - REFERENCE DOCUMENT 2017
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