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Financial statements

Consolidated statement of comprehensive income

All amounts in € thousands, unless otherwise stated

 

Note

 

2017

 

2016

Gross rental income

6

192,464

 

175,507

 

Service charge income

6

4,939

 

4,362

 

Other income

 

850

 

701

 

Revenues

  

198,253

 

180,570

      

Service charge expenses

 

(5,130)

 

(4,521)

 

Property operating expenses

7

(55,840)

 

(47,730)

 
   

(60,970)

 

(52,251)

Net rental income

  

137,283

 

128,319

      

Result on disposal of investment property

  

10,275

 

142

      

Positive fair value adjustments completed investment property

12

412,467

 

521,073

 

Negative fair value adjustments completed investment property

12

(33)

 

(4,200)

 

Fair value adjustments on investment property under construction

13

100,972

 

39,333

 

Net valuation gain (loss) on investment property

  

513,406

 

556,206

      

Administrative expenses

8

 

(22,700)

 

(18,016)

Result before finance result

  

638,264

 

666,651

      

Finance expenses

9

(641)

 

(308)

 

Net finance result

  

(641)

 

(308)

      

Result before tax

  

637,623

 

666,343

Income taxes

10

 

(13)

 

-

Result for the year

  

637,610

 

666,343

      

Items that will not be reclassified subsequently to comprehensive income

  

-

 

-

Items that may be reclassified subsequently to comprehensive income

  

-

 

-

Total comprehensive income for the year, net of tax

 

637,610

 

666,343

      

Net result attributable to shareholders

  

637,610

 

666,343

Total comprehensive income attributable to shareholders

  

637,610

 

666,343

      
      

Distributable result

19

 

113,930

 

109,994

Pay-out ratio

19

 

100%

 

100%

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