| Financial data (€) |
2003 |
2004 |
2005 |
| Total revenue |
39.772.983 |
41.322.382 |
53.481.837 |
| (Loss)/profit from proprietary trading |
(1.382.189) |
(1.392.205) |
1.937.627 |
| Profit on disposal and revaluation of investment properties |
8.198.700 |
9.432.207 |
8.050.126 |
| Total contribution from operations |
26.529.705 |
29.404.254 |
34.020.691 |
| Cash contribution from operations |
19.723.665 |
23.113.269 |
21.962.089 |
| Cash operating costs |
(12.766.061) |
(13.734.247) |
(15.797.763) |
| Cash operating profit |
6.957.604 |
9.379.022 |
6.164.326 |
| Financial expenses |
(7.018.063) |
(8.048.545) |
(8.498.840) |
| Depreciation, amortisation and impairment loss of assets |
(5.310.422) |
(4.147.473) |
(4.016.502) |
| Profit from operations |
1.435.159 |
3.473.989 |
5.707.586 |
| Share of profit/(loss) of associates |
390.505 |
(1.413.708) |
2.980.674 |
| Profit on disposal of associates/subsidiaries |
89.055 |
1.031.005 |
0 |
| Decrease in provision for doubtful debts and impairment loss |
3.654.262 |
3.202.662 |
0 |
| Profit for the year before taxation |
5.568.981 |
6.293.948 |
8.688.260 |
| Taxation |
(1.263.144) |
(1.714.042) |
(567.625) |
| Minority interest |
(3.430.245) |
(2.742.698) |
(3.441.229) |
| Profit attributable to equity holders of the parent |
875.593 |
1.837.207 |
4.679.406 |
| Total assets |
234.423.376 |
225.203.514 |
257.046.540 |
| Net increase/(decrease) in cash and cash equivalents |
6.356.057 |
(1.418.715) |
4.422.000 |
| Cash in hand and at banks |
5.450.738 |
4.604.555 |
10.194.760 |
| Short term loans, current portion of long term loans and bank overdrafts |
19.054.807 |
24.978.169 |
30.056.281 |
| Long term loans |
96.852.646 |
86.276.464 |
95.784.354 |
| Total net debt |
110.456.713 |
106.650.078 |
115.645.875 |
| Convertible bonds |
2.537.396 |
0 |
0 |
| Shareholders equity |
35.424.549 |
37.713.330 |
48.855.792 |
| Total equity |
89.720.773 |
87.069.466 |
95.433.702 |
| Stockmarket capitalisation |
27.265.536 |
19.540.301 |
30.219.302 |
|
|
|
|
| Per share data (€ cent) |
|
|
|
| Earnings per share (EPS) |
0,35 |
0,72 |
1,81 |
| Net asset value per share (NAV) |
13,6 |
14,5 |
18,8 |
| Market price at year end |
10,5 |
7,5 |
11,6 |
|
|
|
|
| Financial ratios |
|
|
|
| Staff costs/Total revenue |
21% |
21% |
17% |
| Total net debt/Total assets |
47% |
47% |
45% |
| Average cost of debt |
6,5% |
7,0% |
7,2% |
| Weighted average cost of capital (WACC) |
9,6% |
10,4% |
9,8% |
| Interest cover from cash operating profit |
99% |
117% |
73% |
| Return on weighted average shareholders equity |
2,4% |
5,0% |
10,8% |
OUR GROUP