Statement of comprehensive income in accordance with INREV valuation principles

As at 31 December

2015

2014

IFRS

Adjustment

INREV

IFRS

Adjustment

INREV

Gross rental income

162,614

-

162,614

156,049

-

156,049

Service charge income

4,057

-

4,057

4,038

-

4,038

Other income

600

-

600

671

-

671

Revenues

167,271

-

167,271

160,758

-

160,758

Service charge expenses

(4,451)

-

(4,451)

(4,560)

-

(4,560)

Property operating expenses

(41,014)

-

(41,014)

(40,922)

-

(40,922)

(45,465)

-

(45,465)

(45,482)

-

(45,482)

Net rental income

121,806

-

121,806

115,276

-

115,276

Profit (loss) on sales of investment property

280

-

280

(869)

-

(869)

Positive fair value adjustment

241,261

-

241,261

49,661

-

49,661

Negative fair value adjustment

(923)

-

(923)

(17,090)

-

(17,090)

Net valuation gain (loss) on investment property

240,338

-

240,338

32,571

-

32,571

Administrative expenses

(14,949)

-

(14,949)

(13,865)

(600)

(14,465)

Result before finance expense

347,475

-

347,475

133,113

(600)

132,513

Finance income

-

-

-

41

-

41

Net finance expense

-

-

-

41

-

41

Result before tax

347,475

-

347,475

133,154

(600)

132,554

Income taxes

-

-

-

-

-

Net result

347,475

-

347,475

133,154

(600)

132,554

Other comprehensive income for the year

-

-

-

-

-

-

Total comprehensive income for the year

347,475

-

347,475

133,154

(600)

132,554

Net result attributable to shareholders

347,475

-

347,475

133,154

(600)

132,554

Total comprehensive income attributable to shareholders

347,475

-

347,475

133,154

(600)

132,554

Earnings per share (€)

Basic earnings per share

319.75

-

319.75

128.47

(0.58)

127.89

Diluted earnings per share

319.75

-

319.75

128.47

(0.58)

127.89