Annual Report 2009
WDP
2009 Annual unconsolidated
financial statements*
Profit and loss account
|
EUR (x 1.000) |
Year 31-12-2009 |
Year 31-12-2008 |
|
I. Rental income |
38.003 |
33.641 |
|
Rents |
37.888 |
33.481 |
|
Indemnification for early termination of lease |
115 |
160 |
|
III. Rental charges |
-868 |
-164 |
|
Rent to be paid for leased premises |
-241 |
-153 |
|
Valuation allowances for trade receivables and reversals |
-667 |
-91 |
|
Reversals of valuation decreases for trade receivables |
40 |
80 |
|
NET RENTAL RESULT |
37.135 |
33.477 |
|
V. Recovery of rental charges normally paid by the tenant on let properties |
4.512 |
3.931 |
|
Re-invoicing rental charges paid out by the owner |
1.879 |
1.884 |
|
Re-invoicing advance property levy and taxes on let buildings |
2.633 |
2.047 |
|
VII. Rental charges and taxes normally paid by the tenant on let properties |
-5.066 |
-4.407 |
|
Rental charges paid out by the owner |
-2.094 |
-2.059 |
|
Advance levies and taxes on let properties |
-2.972 |
-2.348 |
|
VIII. Other income and charges related to leases |
4.198 |
761 |
|
Property management fees |
494 |
514 |
|
Income from solar energy |
3.704 |
247 |
|
PROPERTY RESULT |
40.779 |
33.762 |
|
IX. Technical costs |
-741 |
-934 |
|
Recurrent technical costs |
-705 |
-914 |
|
- Repairs |
-545 |
-634 |
|
- Insurance premiums |
-160 |
-280 |
|
Non-recurrent technical costs |
-36 |
-20 |
|
- Major repairs (building contractors, architects, engineering firm, etc.) |
1 |
1 |
|
- Accidents |
-37 |
-21 |
|
X. Commercial costs |
-300 |
-256 |
|
Agency commissions |
-71 |
-42 |
|
Advertising |
-75 |
-92 |
|
Lawyers’ fees and legal charges |
-154 |
-122 |
|
XII. Property management costs |
-293 |
-151 |
|
External management fees |
-70 |
5 |
|
(Internal) property management costs |
-223 |
-156 |
|
XIII. Other property costs |
0 |
0 |
|
PROPERTY CHARGES |
-1.334 |
-1.341 |
|
PROPERTY OPERATING RESULTS |
39.445 |
32.421 |
|
XIV. General company expenses |
-1.914 |
-2.207 |
|
XV. Other operating income and charges |
0 |
0 |
|
OPERATING RESULTS BEFORE RESULT ON PORTFOLIO |
37.531 |
30.214 |
|
XVI. Result on disposals of investment property |
11 |
54 |
|
Net property sales (sales price – transaction costs) |
2.934 |
1.800 |
|
Book value of properties sold |
-2.923 |
-1.746 |
|
XVIII. Variations in the fair value of investment property |
-1.102 |
-6.617 |
|
Positive variations in the fair value of investment property** |
6.878 |
12.785 |
|
Negative variations in the fair value of investment property |
-9.390 |
-17.609 |
|
Impairment of assets under construction (recognised and reversed) |
1.410 |
-1.793 |
|
OPERATING RESULT |
36.440 |
23.651 |
|
XIX. Financial income |
11.682 |
14.444 |
|
Interests and dividends received |
7.295 |
7.858 |
|
Income from financial leases and similar |
23 |
20 |
|
Income from financial instruments used for hedging purposes |
2.948 |
2.187 |
|
Variations in the fair value of financial fixed assets |
1.387 |
4.305 |
|
Other financial income |
29 |
74 |
|
XX. Interest charges |
-20.418 |
-15.993 |
|
Nominal interest on loans |
-21.886 |
-17.646 |
|
Interest capitalised during construction |
1.482 |
1.675 |
|
Other interest charges |
-14 |
-22 |
|
XXI. Other financial charges |
-27.796 |
-38.920 |
|
Bank charges and other commissions |
-38 |
-30 |
|
Costs of financial instruments used for hedging purposes |
-13.871 |
-29.749 |
|
Variations in the fair value of financial assets |
-13.887 |
-9.067 |
|
Other financial charges |
0 |
-74 |
|
FINANCIAL RESULT |
-36.532 |
-40.469 |
|
PRE-TAX RESULT |
-92 |
-16.818 |
|
XXII. Corporation tax |
-45 |
-43 |
|
XXIII. Exit tax |
0 |
0 |
|
TAXES |
-45 |
-43 |
|
NET RESULT |
-137 |
-16.861 |
|
NUMBER OF SHARES |
12.533.938 |
8.592.721 |
|
NET RESULT PER SHARE (EUR) |
-0,25*** |
-1,96 |
|
|
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|
Other components of comprehensive income
|
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|
EUR (x 1.000) |
31-12-2009 |
31-12-2008 |
|
|
NET PROFIT |
437 |
-15.785 |
|
|
Revaluation surplus on solar panels |
12.779 |
5.179 |
|
|
Currency exchange differences |
-574 |
-258 |
|
|
TOTAL COMPREHENSIVE INCOME FOR THE YEAR |
|
12.642 |
-10.864 |
|
Attributable to: |
|
||
|
- Shareholders of the parent company |
12.642 |
-10.864 |
|
|
- Minority interests |
0 |
0 |
|
|
* The statutory auditor has issued an unreserved statement of compliance for the annual financial statements of WDP Comm. VA. These annual financial statements are established in accordance with the IFRS rules as accepted in the European Union and in accordance with the Royal Decree of 21st June 2006. ** This only relates to the positive variations of property investments. The revaluation surpluses of solar panels are booked directly in the equity capital, under the section ‘Revaluation reserve’ in accordance with IAS 16. *** Earnings per share are calculated on a pro-rata-temporis basis for the number of shares entitled to dividend for 2009 (first six months 9.400.454 shares, from 01/07/2009 12.533.938 shares).
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