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Financial statements

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Consolidated statement of comprehensive income

All amounts in € thousands, unless otherwise stated

 

Note

 

2020

 

2019

Gross rental income

6

243,307

 

229,908

 

Service charge income

6

6,706

 

6,323

 

Other income

 

14,629

 

642

 

Revenues

  

264,642

 

236,873

      

Service charge expenses

 

(6,988)

 

(6,657)

 

Property operating expenses

7

(63,013)

 

(61,282)

 
   

(70,001)

 

(67,939)

Net rental income

  

194,641

 

168,934

      

Result on disposal of investment property

  

22,858

 

(1,373)

      

Positive fair value adjustments completed investment property

12

237,707

 

498,898

 

Negative fair value adjustments completed investment property

12

(8,126)

 

(24,743)

 

Fair value adjustments on investment property under construction

13

34,940

 

65,712

 

Net valuation gain (loss)

  

264,521

 

539,867

      

Administrative expenses

8

 

(34,989)

 

(32,235)

Result before finance result

  

447,031

 

675,193

      

Finance expenses

9

(4,478)

 

(3,977)

 

Net finance result

  

(4,478)

 

(3,977)

      

Result before tax

  

442,553

 

671,216

Income taxes

10

 

(15)

 

(8)

Result for the year

  

442,538

 

671,208

      

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

 

442,538

 

671,208

      

Net result attributable to shareholders

  

442,538

 

671,208

Total comprehensive income attributable to shareholders

  

442,538

 

671,208

      
      

Distributable result

20

 

157,361

 

135,413

Pay-out ratio

20

 

100%

 

100%

      
      

Earnings per share (€)

     

From continuing operations

     

Basic

19

 

314

 

489

Diluted

19

 

314

 

489