IREIT Global
annual report 2014
For the reporting period from 1 November 2013 (date of constitution) to 31 December 2014
Consolidated
Statement of Cash Flows
Group
Note
Period from
1 November
2013 (date of
constitution) to
31 December
2014
EUR’000
Cash flows from operating activities
Loss for the period, after transactions with unitholders
(12,597)
Adjustment for:
Manager’s management fees payable in units
642
Finance costs
793
Change in fair value of financial derivatives
2
Change in fair value of investment properties
12,434
Income tax benefit
(1,155)
Operating profit before working capital changes
119
Changes in working capital:
Trade and other receivables
(1,967)
Trade, other and distribution payables
9,870
Cash generated from operations, representing net cash from
operating activities
8,022
Cash flows from investing activity
Acquisition of investment properties
(303,034)
Net cash used in investing activity
(303,034)
Cash flows from financing activities
Proceeds from issuance of units
219,368
Expenses related to the issuance of units
(7,440)
Proceeds from bank borrowings
96,594
Costs related to bank borrowings
(1,235)
Net cash from financing activities
307,289
Cash and cash equivalents at the end of the period
4
12,277
The accompanying notes form an integral part of these financial statements.
