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Financial results

Consolidated comprehensive result - Form Royal Decree of 13.07.2014 (x 1,000 EUR)

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A. NET RESULT 31.03.2021 31.03.2020 31.03.2019 31.03.2018 31.03.2017
Rental income  69 255  60 965  55 193 52 834 52 256
Writeback of lease payments sold and discounted  1 815  2 361  2 196 2 696 3 118
Rental-related expenses -  46   7   705 -  147 0
Net rental income  71 025  63 332  58 094 55 383 55 374
Recovery of property charges   148   235   18 -  23 1 642
Recovery income of charges and taxes normally payable by the tenant on let properties  26 911  24 725  24 262 31 135 28 937
Costs payable by the tenant and borne by the landlord on rental damage and redecoration at end of lease -  395   161 -  917 -  425 -  614
Charges and taxes normally payable by the tenant on let properties - 29 078 - 27 270 - 30 199 -37 054 -32 197
Property result  68 610  61 182  51 259 49 016 53 142
Technical costs -  841 -  808 - 1 200 -  947 -1 498
Commercial costs -  535 -  580 -  336 -  529 -  411
Taxes and charges on unlet properties - 2 176 - 2 074 - 2 410 -3 140 -3 183
Property management costs - 7 789 - 6 703 - 6 059 -5 312 -5 369
Property charges - 11 340 - 10 164 - 10 005 -9 928 -10 461
Property operating result  57 270  51 018  41 254 39 088 42 681
Corporate management costs - 3 338 - 2 873 - 2 597 -2 277 -2 301
Operating result before result on the portfolio  53 932  48 145  38 658 36 811 40 380
Gains or losses on disposals of investment properties   545   742  2 224 27 522   382
Changes in fair value of investment properties - 7 158  13 699  8 149 4 072   544
Other result on the portfolio - 4 949 - 3 229 - 1 393 -1 115   64
Operating result  42 371  59 357  47 638 67 290 41 370
Financial income  2 286  1 789  1 412 4 820 1 323
Net interest charges - 6 443 - 5 829 - 6 429 -7 697 -7 462
Other financial charges -  202 -  190 -  138 -  181 -  280
Changes in fair value of financial assets and liabilities  12 415 - 10 879 - 14 288 4 333 6 185
Financial result  8 056 - 15 109 - 19 443 1 275 -  234
Share in the result of associated companies and joint ventures - 1 652   177   134   119   137
Pre-tax result  48 774  44 425  28 328 68 684 41 273
Corporate tax - 3 236 - 2 227 - 2 049 -1 552 -2 704
Exit tax -  200 -  160 -  103 -  1 -  37
Taxes - 3 436 - 2 387 - 2 151 -1 553 -2 741
Net result  45 338  42 037  26 177 67 131 38 532
Minority interests -  259   136 - 1 385 -1 345 -1 332
Net result - Group share  45 079  42 174  24 792 65 786 37 200
B. OTHER ELEMENTS OF THE GLOBAL RESULT RECYCABLE IN THE INCOME STATEMENT 31.03.2021 31.03.2020 31.03.2019 31.03.2018 31.03.2017
Impact on fair value of estimated transaction costs resulting from hypothetical disposal of investment properties          
Change in the effective part of the fair value of authorised cash flow hedging instruments as defined under IFRS          
Impact of the recycling on the income statement of hedging instruments which relationship with the hedged risk was terminated   0   -  578 2 820
Share in the other elements of the global result of associated companies and joint ventures   0     20   21
Convertible bonds -  706  6 306 - 3 734 0 0
Other elements of the global result -  706  6 306 - 3 734 -  558 2 841
Minority interests 0 0 0 0 0
Other elements of the global result - Group share -  706  6 306 - 3 734 -  558 2 841
C. GLOBAL RESULT 31.03.2021 31.03.2020 31.03.2019 31.03.2018 31.03.2017
Global result  44 632  48 343  22 443 66 574 41 373
Minority interests -  259   136 - 1 385 -1 345 -1 332
Global result - Group share  44 373  48 480  21 058 65 229 40 041