GECINA - REFERENCE DOCUMENT 2017

CONSOLIDATED FINANCIAL STATEMENTS Notes to the consolidated financial statements

Recognition of financial assets and liabilities 3.5.5.19

Assets/ liabilities valued at fair value through the income statement

Fair value through share- holders’ equity

Assets/ liabilities held to maturity

Loans and receiva- bles

Liabilities at amortized cost

Assets available for sale

Historic cost

Total Fair value

In €’000

Financial fixed assets (1)

0

1,586

0 480

0 1,318

0

3,384

3,384

Equity-accounted investments

0

0 0

0 0

0 0

0 44,718

0 44,718 44,718 0 122,031 122,031

Cash and cash equivalents 122,031

0

0

Current and non-current derivatives (2)

19,873

0 0

0 0

0 0

0

0

0 19,873 19,873 0 241,634 241,634

Other assets (1)

0

0 241,634

03

TOTAL FINANCIAL ASSETS

141,904 1,586

0 480

0 287,671

0 431,640 431,640 0 6,926,752 6,926,752

Non-current financial debts Current and non-current derivatives (2)

0 1,962,238

0

0 4,964,514

0

6,756

0

0 0 0

0

0

0 0

0

6,756

6,756

Current financial debts

0 1,563,244

0 44,700

0 1,607,944 1,607,944 0 495,011 495,011

Other liabilities (1)

0

0

0

0 495,011

TOTAL FINANCIAL LIABILITIES

6,756 3,525,482 0 9,036,463 9,036,463 Due to the short-term nature of these receivables and payables, the book value represents a good estimate of fair value, as the discount effect is immaterial. (1) According to IFRS 7 and IFRS 13, the fair value of financial instruments is level 2 which means that the valuation is based on published market data. (2) 0 0 5,009,214 495,011

3.5.6

NOTES TO THE CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

Gross rental income 3.5.6.1 Gecina’s revenue is separate from the rental income due to the nature of the contract whereas the sector analysis (Note 3.5.8) is based on the internal management organization of the Group. Minimum future rents receivable until the next possible termination date under the operating leases of the commercial properties are as follows:

12/31/2016

12/31/2017

In €’000

Less than 1 year

471,925

324,425 660,858 343,664

1 to 5 years Over 5 years

1,113,108

275,856

TOTAL

1,860,889

1,328,948

Operating income of the financial leases and hotel activity (excluding overheads)

3.5.6.2

12/31/2017

In €’000

Financial fees and other income on financial lease transactions

11,486 (6,917) 4,570 13,527 (11,218) (2,033)

Operating expenses

CURRENT OPERATING INCOME ON FINANCE LEASE TRANSACTIONS

Hotel operating income Hotel operating expenses

Depreciation of the hotel activity

CURRENT OPERATING INCOME ON THE HOTEL ACTIVITY

275

91

GECINA - REFERENCE DOCUMENT 2017