MRM - 2019 Universal Registration Document

3

General information on the issuer and its share capital

Consolidated financial statements for the financial year ended 31 December 2019

In 2019 other operating income came to €1,751,000 mostly comprising €1,455,000 in penalties paid by Maison Dépôt for failing to open its store in the Aria Parc retail park in Allonnes. An impairment was recorded for the corresponding receivable.

Other operating expenses amounted to €999,000 and primarily consisted of various one-off fees totalling €580,000 and losses on receivables written off in the amount of €249,000 for which a reversal of impairment was recorded.

5.5 Result on disposals of properties

The gains (losses) on the disposals of properties break down as follows:

Disposals of properties 12/31/2019

Disposals of properties 12/31/2018

(in thousands of euros)

Proceeds from disposals net of expenses Net book value of disposed properties RESULT ON DISPOSALS OF PROPERTIES

5,346

37,097

-5,430

-37,207

-84

-110

5.6 Change in fair value of properties

12/31/2019

(in thousands of euros)

Opening net balance of properties

164,740

Asset disposals

-5,430

Works

7,946

168,070

Closing net balance of properties

CHANGE IN FAIR VALUE

814

5.7 Net borrowing cost

The net borrowing cost breaks down as follows:

12/31/2019

12/31/2018

(in thousands of euros)

Interest received

-

-

Interest and similar expenses NET BORROWING COST

-1,231

-1,493

-1,231

-1,493

5.8 Change in fair value of financial instruments and marketable securities The €12,000 decrease in the fair value of financial instruments and marketable securities over the period was due exclusively to the change in the fair value of a cap (see Note 4.9). 5.9 Earnings per share The consolidated net earnings per share at €0.07 is calculated by dividing the consolidated loss by the number of shares outstanding (excluding treasury shares) at closing, i.e. 43,631,618 shares as of 31 December 2019. See Note 4.11 “Information on the number of shares outstanding”.

90

M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT