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Consolidated statement of comprehensive income

All amounts in € thousands, unless otherwise stated

 

Note

 

2018

 

2017

Gross rental income

6

207,094

 

192,464

 

Service charge income

6

5,546

 

4,939

 

Other income

 

613

 

850

 

Revenues

  

213,253

 

198,253

      

Service charge expenses

 

(5,782)

 

(5,130)

 

Property operating expenses

7

(53,539)

 

(55,840)

 
   

(59,321)

 

(60,970)

Net rental income

  

153,932

 

137,283

      

Result on disposal of investment property

  

8,456

 

10,275

      

Positive fair value adjustments completed investment property

12

667,369

 

412,467

 

Negative fair value adjustments completed investment property

12

(1,935)

 

(33)

 

Fair value adjustments on investment property under construction

13

78,715

 

100,972

 

Net valuation gain (loss) on investment property

  

744,149

 

513,406

      

Administrative expenses

8

 

(27,812)

 

(22,700)

Result before finance result

  

878,725

 

638,264

      

Finance expenses

9

(639)

 

(641)

 

Net finance result

  

(639)

 

(641)

      

Result before tax

  

878,086

 

637,623

Income taxes

10

 

(73)

 

(13)

Result for the year

  

878,013

 

637,610

      

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

 

878,013

 

637,610

      

Net result attributable to shareholders

  

878,013

 

637,610

Total comprehensive income attributable to shareholders

  

878,013

 

637,610

      
      

Distributable result

19

 

125,372

 

113,930

Pay-out ratio

19

 

100%

 

100%

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