MRM - 2019 Universal Registration Document
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General information on the issuer and its share capital
Consolidated financial statements for the financial year ended 31 December 2019
Note 7 Segment information
Accounting principles
IFRS 8 requires disclosure of information about each of an entity’s operating segments.
The operating segments determined on the basis of internal reporting correspond to an activity: • that can generate income and that incurs expenses; • whose operating income is regularly examined by the entity’s chief operating decision-maker in order to allocate resources to the various segments and assess their performance; • for which individual financial information is available. In view of these requirements, the Group has divided its property portfolio into operating segments according to the real estate market in which they are located. Namely the retail and office rental segments. These operating segments are best suited to assess the nature and financial impact of the Company’s activities and the economic climate in which it trades. The Group has moreover assigned its head office as a non-operating segment to handle transactions falling outside the remit of an operating segment.
7.1 Income statement by segment
The main line items of the standalone income statement are as follows:
Consolidated income statement as of 12/31/2019
Office
Retail
Head office
Total
(in thousands of euros)
Gross rental income
-
9,123
- - -
9,123
-17 -17 -42
-1,760
-1,777
External property expenses not recovered
NET RENTAL INCOME
7,363
7,346
Operating expenses
-657
-1,754
-2,452
Reversals of provisions and impairment
- -
306
23
329
Provisions and impairment Other operating income Other operating expenses
-2,067
-34
-2,101
105
1,580
67
1,751
-169
-226
-605
-999
OPERATING INCOME BEFORE DISPOSALS AND CHANGE IN FAIR VALUE OF PROPERTIES
123
6,299
-2,303
3,873
Result on disposals of properties Change in fair value of properties
-84
-
- -
-84
-
814
814
OPERATING INCOME Gross borrowing cost
-207
7,113 -1,231
-2,303
4,603 -1,232
-
-1
92
M.R.M. 2019 UNIVERSAL REGISTRATION DOCUMENT
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