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Individual Financial Statements 31.12.15 (Spanish GAAP)
Lar España Real Estate SOCIMI, S.A.
Balance Sheet at 31 December 2015(*)
| ASSETS (Thousands of euros) | 31/12/2015 | 31/12/2014 |
|---|---|---|
| Investment properties | 176,691 | 202,310 |
| Land | 67,736 | 80,456 |
| Buildings | 108,955 | 121,854 |
| Non-current investments in Group companies and associates | 471,693 | 134,525 |
| Equity instruments | 260,267 | 134,525 |
| Loans to companies | 211,426 | - |
| Non-current investments | 1,909 | 2,409 |
| Other financial assets | 1,909 | 2,409 |
| TOTAL NON-CURRENT ASSETS | 650,293 | 339,244 |
| Inventories | - | 3,102 |
| Trade | - | 2,843 |
| Advances | - | 259 |
| Trade and other receivables | 2,974 | 1,870 |
| Client receivables for sales and rendering of services | 522 | 1,170 |
| Clients, group companies and associates | 55 | - |
| Other credits with Public Administrations | 2,397 | 700 |
| Current investments in group companies and associates | 37,332 | - |
| Loans to companies | 25,319 | - |
| Other financial assets | 12,013 | - |
| Current financial investments | 6 | 32,066 |
| Other financial assets | 6 | 32,066 |
| Prepayments for current assets | 387 | 95 |
| Cash and cash equivalents | 17,482 | 17,467 |
| Cash | 17,482 | 17,467 |
| TOTAL CURRENT ASSETS | 58,181 | 54,600 |
| TOTAL ASSETS | 708,474 | 393,844 |
| EQUITY AND LIABILITIES (Thousands of Euros) | 31/12/2015 | 31/12/2014 |
|---|---|---|
| Share Capital | 119,996 | 80,060 |
| Share capital | 119,996 | 80,060 |
| Share premium | 415,047 | 320,000 |
| Reserves | (7,799) | (9,425) |
| Legal and statutory | 166 | - |
| Other reserves | (7,965) | (9,425) |
| (Treasury shares) | (709) | (4,838) |
| Other shareholder contributions | 240 | 240 |
| Profit for the period | 5,006 | 1,664 |
| TOTAL EQUITY | 531,781 | 387,701 |
| Non-current payables | 161,079 | 3,603 |
| Bonds and other marketable securities | 138,233 | - |
| Loans and borrowings | 19,839 | - |
| Other financial liabilities | 3,007 | 3,603 |
| TOTAL NON-CURRENT LIABILITIES | 161,079 | 3,603 |
| Current payables | 1,274 | - |
| Bonds and other marketable securities | 3,504 | - |
| Loans and borrowings | 5,119 | - |
| Other financial liabilities | 2,651 | - |
| Trade and other payables | 4,340 | 2,540 |
| Current suppliers, related parties | 2,516 | 866 |
| Other payables | 1,635 | 1,578 |
| Personnel (salaries payable) | 115 | 18 |
| Other debts with Public Administrations | 74 | 78 |
| TOTAL CURRENT LIABILITIES | 15,614 | 2,540 |
| TOTAL EQUITY AND LIABILITIES | 708,474 | 393,844 |
(*) These financial statements are an integral part of the 2015 Individual Annual Accounts. On February 26th 2016 Deloitte issued its unqualified audit report.
Income Statement for 2015 (*)
| (Thousands of euros) | 2015 | 2014 |
|---|---|---|
| CONTINUING OPERATIONS | ||
| Revenues | 13,259 | 7,207 |
| Sales | 13,259 | 7,207 |
| Other operating income | 807 | 217 |
| Non-trading and other operating income | 807 | 207 |
| Personnel expenses | (396) | (108) |
| Salaries and wages | (355) | (93) |
| Benefits | (41) | (15) |
| Other operating expenses | (17,214) | (6,824) |
| External services | (16,591) | (6,441) |
| Taxes | (549) | (221) |
| Losses, impairment and changes in trade provisions | (74) | (162) |
| Amortisation of fixed assets | (2,466) | (1,219) |
| Impairments and result from disposal of fixed assets | (328) | - |
| Impairments and losses | (328) | - |
| OPERATING PROFIT | (6,338) | (727) |
| Financial income | 16,274 | 2,391 |
| From stakes in equity instruments | 11,990 | - |
| In group companies and associates | 11,990 | - |
| From negotiable securities and other financial instruments | 4,284 | 2,391 |
| From group companies and associates | 3,771 | - |
| From third parties | 513 | 2,391 |
| Financial expenses | (4,474) | - |
| From debts with third parties | (4,474) | - |
| Impairments and gains (losses) on disposals of financial instruments | (456) | - |
| Impairments and losses | (456) | - |
| FINANCIAL PROFIT | 11,344 | 2,391 |
| PROFIT BEFORE INCOME TAX | 5,066 | 1,664 |
| Income tax expense | - | - |
| PROFIT FROM CONTINUING OPERATIONS | 5,006 | 1,664 |
| PROFIT FOR THE PERIOD | 5,006 | 1,664 |
(*) These financial statements are an integral part of the 2015 Individual Annual Accounts. On February 26th 2016 Deloitte issued its unqualified audit report.
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