Please see Note 18 to the 2011 consolidated financial statements.
|
(€ millions) |
2011 |
2010 |
% change |
2009 |
|
Rental income |
83.6 |
69.1 |
20.9 % |
65.1 |
|
B&B |
33.1 |
32.7 |
|
30.9 |
|
City center |
42.7 |
36.4 |
|
34.1 |
|
Recurring rents* |
75.7 |
69.1 |
906 % |
65.1 |
|
Net operating expenses |
(5.0) |
(4.3) |
16.3 % |
(5.1) |
|
Administrative expenses |
(9.0) |
(8.3) |
9.0 % |
(8.2) |
|
EBITDA |
69.6 |
56.6 |
23.0 % |
51.8 |
|
Recurrent EBITDA* |
61.7 |
56.6 |
9.1 % |
51.8 |
|
Financial expenses |
(17.8) |
(17.6) |
0.8 % |
(16.2) |
|
Cash-flow |
51.8 |
38.9 |
33.0 % |
35.6 |
|
Recurrent cash flow* |
43.9 |
38.9 |
12.9 % |
35.6 |
|
Change in fair value |
44.9 |
37.1 |
|
(87.3) |
|
Other |
(0.9) |
(1.2) |
|
(2.3) |
|
Net income |
95.8 |
74.9 |
|
(54.0) |
|
|
|
|
|
|
|
ICR |
3.9 |
3.2 |
|
3.3 |
|
|
|
|
|
|
|
Cash flow per share (in €) |
1.89 |
1.43 |
32.6 % |
1.34 |
|
Recurrent cash flow per share (in €)
|
1.60 |
1.43 |
12.6 % |
1.34 |
|
Average number of shares (in millions)** |
27.4 |
27.3 |
|
26.5 |
|
* Recurring rent is restated for the back-payment of rent by Le Printemps for the previous fiscal year totaling €7.8 million. |
|
Please see Note 17 to the 2011 consolidated financial statements.
|
(€ millions) |
31/12/2011 |
31/12/2010 |
% change |
31/12/2009 |
|
Real estate assets |
1,650 |
1,573 |
4.9 % |
1,504 |
|
B&B |
513 |
492 |
|
474 |
|
City center |
1,137 |
1,081 |
|
1,030 |
|
Net debt |
(482) |
(460) |
4.9 % |
(422) |
|
Other items |
(10) |
(13) |
|
(21) |
|
NAV |
1,158 |
1,101 |
5.2 % |
1,061 |
|
Hedging instruments |
(39) |
(35) |
|
(30) |
|
NNNAV |
1,119 |
1,065 |
5.1 % |
1,031 |
|
Investments |
73 |
65 |
|
114 |
|
Loan to value (%) |
29.2 |
29.2 |
|
28.1 |
|
NAV per share (in €) |
42.2 |
40.3 |
4.7 % |
38.9 |
|
NNNAV per share (in €) |
40.8 |
39.0 |
4.6 % |
37.8 |
|
Number of shares at end of period (in millions)** |
27.5 |
27.3 |
|
27.3 |
|
** Adjusted for bonus shares. |
|
|
IFRS (1)
(€ millions) |
2005
12 months |
2008
12 months |
2009
12 months |
2010
12 months |
2011
12 months |
2012 (Est)
12 months |
|
Recurring rents |
22.8 |
59.1 |
65.1 |
69.1 |
75.7 |
78.6 |
|
City-center properties |
22.8 |
30.9 |
34.1 |
36.4 |
42.6 |
44.6 |
|
B&B Hotels |
- |
28.2 |
30.9 |
32.7 |
33.1 |
34.1 |
|
Recurrent EBITDA |
10.2 |
44.5 |
51.8 |
56.6 |
61.7 |
|
|
Margin |
44.7 % |
75.1 % |
79.5 % |
81.5 % |
81.4 % |
|
|
Haussmann-style properties |
10.2 |
17.3 |
22.7 |
25.3 |
30.3 |
|
|
Margin |
45 % |
56 % |
66 % |
70 % |
71 % |
|
|
B&B Hotels |
- |
27.2 |
29.1 |
31.2 |
31.4 |
|
|
Margin |
- |
96 % |
94 % |
95 % |
95 % |
|
|
Recurrent cash flow |
5.7 |
31.5 |
35.6 |
38.9 |
43.9 |
|
|
Per share (2) |
0.34 |
1.25 |
1.34 |
1.43 |
1.60 |
|
|
NAV (3) per share (4) |
21.6 |
42.8 |
38.9 |
40.3 |
42.2 |
|
|
Loan to value ratio |
|
24 % |
28 % |
29 % |
29 % |
|
|
(1) The Company has published its financial statements under IFRS since 2007.
(2) Calculated on the basis of the average number of shares during the year.
(3) NAV calculated before recognition of financial instruments at fair value.
(4) Calculated on the basis of the number of shares at the end of the year, excluding treasury stock. See Note 17 “NAV per share” to the ANF Immobilier consolidated financial statements in Chapter V of the Registration Document. |
|
