CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEAR ENDED DECEMBER 31, 2019 NUREMBERG / FÜRTH LEIPZIG CONTENTS Board of Directors’ report 2 EPRA Performance Measures 60 Report of the Rèviseur d’Enterprises Agréé (Independent Auditor) 72 Consolidated statement of profit or loss 76 Consolidated statement of comprehensive income 77 Consolidated statement of financial position 78 Consolidated statement of changes in equity 80 Consolidated statement of cash flows 82 Notes to the consolidated financial statements 84 IMPRINT Publisher: Grand City Properties S.A. | 1, Avenue du Bois | L-1251 Luxembourg phone: +352 28 77 87 86 | e-mail:
[email protected] | www.grandcityproperties.com Board of Directors’ Report | 1 KEY FINANCIALS BALANCE SHEET HIGHLIGHTS in €’000 unless otherwise indicated Dec 2019 Dec 2018 Dec 2017 Total Assets 9,851,428 8,860,526 7,508,292 Total Equity 4,966,599 4,666,987 3,849,662 Loan-to-Value 33% 34% 36% Equity Ratio 50% 53% 51% P&L HIGHLIGHTS in €’000 unless otherwise indicated 1–12/2019 Change 1–12/2018 Rental and operating income 560,303 3% 544,977 Net rental income 382,605 5% 364,365 EBITDA 696,741 -11% 782,313 Adjusted EBITDA 297,662 8% 275,530 FFO I 211,966 7% 197,854 FFO I per share (in €) 1.27 7% 1.19 FFO I per share after perpetual notes attribution (in €) 1.07 6% 1.01 FFO II 381,387 14% 334,456 Profit for the year 493,360 -15% 583,034 EPS (basic) (in €) 2.43 -18% 2.95 EPS (diluted) (in €) 2.30 -17% 2.76 2019* Change 2018 Dividend per share (in €) 0.8238 7 % 0.7735 *2019 dividend is subject to the next AGM approval and