MRM - 2020 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 2020

5.2 External property expenses not recovered

Expenses paid for (net of billing back) break down as follows:

12/31/2020

12/31/2019

(in thousands of euros)

Land tax and tax on offices and retail property

-1,317

-1,351

Large-scale maintenance expenses Rental and co-ownership expenses

-608

-547

-2,815 -4,740 1,052

-2,871

TOTAL EXTERNAL PROPERTY EXPENSES

-4,770

Rebilling of taxes

982

Rebilling of upkeep and large-scale maintenance expenses

161

44

Rebilling of expenses

1,682

1,967

TOTAL REBILLING

2,895

2,993

TOTAL EXTERNAL PROPERTY EXPENSES NOT RECOVERED

-1,845

-1,777

5.3 Operating expenses

Overheads break down as follows:

12/31/2020

12/31/2019

(in thousands of euros)

-949

-1,130

Fees (1)

Bank charges

-20

-26

Other external purchases and expenses

-223 -106 -964

-226 -145 -924

Other taxes and duties

Employee benefits expense

TOTAL OPERATING EXPENSES

-2,262

-2,452

(1) The fees are primarily composed of management fees and legal fees.

5.4 Other operating income and expenses

Accounting principles

Other operating income and expenses correspond to unusual, abnormal or rare events as set out in paragraph 28 of the IASB Framework. They usually consist of transactional indemnities, which seldom occur in practice, paid to or received from tenants, and indemnities received from insurance providers in the event of a claim.

• losses on irrecoverable receivables amounting to €1,633 thousand, which are also subject to reversals of provisions. This amount mainly includes the waiver of penalties that had been invoiced to the tenant Maison Dépôt for the non-opening of its store in the retail park Aria Parc in Allonnes, as provided for in the early termination protocol signed in January 2020.

Other operating expenses amounted to €2,221 thousand in 2020 and consisted mainly of: • rent waivers granted in respect of the frst lockdown period, without compensatory measures modifying the terms of the lease within the meaning of IFRS 16, and for which the protocol has been signed, for a total of €518 thousand (See Section 2.2. “Accounting treatment of support measures granted to tenants in the context of the health crisis”);

M.R.M. 2020 UNIVERSAL REGISTRATION DOCUMENT

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