Notes to the
Financial Statements
For the year ended 31 December 2015
6.
FINANCIAL DERIVATIVES (CONTINUED)
$V DW WKH HQG RI ȴQDQFLDO \HDU WKH WRWDO QRWLRQDO DPRXQW RI RXWVWDQGLQJ IRUZDUG IRUHLJQ H[FKDQJH FRQWUDFWV WR
ZKLFK WKH *URXS LV FRPPLWWHG WR LV DSSUR[LPDWHO\ (85 PLOOLRQ
(85 PLOOLRQ DW DQ DYHUDJH IRUZDUG
(85 6*' UDWH RI
ZLWK VHWWOHPHQW GDWHV RI
0DUFK
6HSWHPEHU
DQG 0DUFK
0DUFK
7KH IDLU YDOXH RI WKH ȴQDQFLDO GHULYDWLYH IDOOV XQGHU /HYHO RI WKH IDLU YDOXH KLHUDUFK\
7.
INVESTMENT PROPERTIES
D 7KLV UHODWHV WR WKH DFTXLVLWLRQ RI WKH %RQQ &DPSXV 'DUPVWDGW &DPSXV 0¾QVWHU &DPSXV DQG &RQFRU 3DUN DV
DW WKH /LVWLQJ 'DWH
E 7KLV UHODWHV WR WKH DFTXLVLWLRQ RI %HUOLQ &DPSXV RQ $XJXVW
7KH DFTXLVLWLRQ ZDV ȴQDQFHG E\ WKH LVVXDQFH
RI UHQRXQFDEOH ULJKWV LVVXH WKH Ȋ5LJKWV ΖVVXHȋ RI
QHZ XQLWV 1RWH LQ Ζ5(Ζ7 DQG H[WHUQDO
EDQN ERUURZLQJV 1RWH 0DQDJHPHQW FRQVLGHUHG WKH DFTXLUHG DVVHW GLG QRW FRQVWLWXWH D EXVLQHVV DV
GHȴQHG XQGHU Ζ)5
Business Combinations
, and therefore the acquisition is accounted for as an acquisition of
an asset.
(c)
The fair values of the Group’s investment properties at year end have been determined on the basis of
YDOXDWLRQV FDUULHG RXW RQ 'HFHPEHU
'HFHPEHU
E\ LQGHSHQGHQW YDOXHUV 0HVVUV &ROOLHUV
ΖQWHUQDWLRQDO 3URSHUW\ $GYLVHUV 8. //3 &XVKPDQ :DNHȴHOG //3 DQG '7= 'HEHQKDP 7LH /HXQJ /LPLWHG
&ROOLHUV ΖQWHUQDWLRQDO 3URSHUW\ $GYLVHUV 8. //3 DQG &XVKPDQ :DNHȴHOG //3 KDYLQJ DSSURSULDWH
UHFRJQLVHG SURIHVVLRQDO TXDOLȴFDWLRQV DQG UHFHQW H[SHULHQFH LQ WKH ORFDWLRQ DQG FDWHJRU\ RI WKH SURSHUWLHV
being valued, and are not related to the Group. The fair value was determined based on the capitalisation
RI QHW LQFRPH PHWKRG DQG GLVFRXQWHG FDVK ȵRZV PHWKRG ΖQ HVWLPDWLQJ WKH IDLU YDOXH RI WKH SURSHUWLHV WKH
highest and best use of the properties is their current use.
Notes
Group
EUR’000
$W 1RYHPEHU
GDWH RI FRQVWLWXWLRQ
-
$FTXLVLWLRQ RI LQYHVWPHQW SURSHUWLHV
(a)
283,100
&RVWV GLUHFWO\ DWWULEXWDEOH WR WKH DFTXLVLWLRQ RI LQYHVWPHQW SURSHUWLHV
19,934
$FTXLVLWLRQ FRVWV RI LQYHVWPHQW SURSHUWLHV DV DW 'HFHPEHU
303,034
1HW FKDQJH LQ IDLU YDOXH RI LQYHVWPHQW SURSHUWLHV GXULQJ WKH SHULRG
(12,434)
Fair value of investment properties as at 31 December 2014
(c)
290,600
$FTXLVLWLRQ RI DQ LQYHVWPHQW SURSHUW\ GXULQJ WKH \HDU
(b)
144,234
&RVWV GLUHFWO\ DWWULEXWDEOH WR WKH DFTXLVLWLRQ RI DQ LQYHVWPHQW SURSHUW\
11,806
1HW FKDQJH LQ IDLU YDOXH RI LQYHVWPHQW SURSHUWLHV GXULQJ WKH \HDU
(5,240)
Fair value of investment properties as at 31 December 2015
(c)
441,400
82
