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Annual Statements

Home Annual Statements Financial Statements 2013 Notes to the consolidated financial statements Related parties Joint Ventures

Joint Ventures

The interests in the following entities are proportionately consolidated:

Registered in

Direct / indirect
interest in %

Airport Real Estate Basisfonds C.V.

Schiphol

61.15

Transport Beheer B.V.

Schiphol

60.00

Transport C.V.

Schiphol

60.00

EnergyGrounds B.V.

Schiphol

51.00

Schiphol Travel Taxi B.V.

Schiphol

50.00

Flight Forum Beheer Vennoot B.V.

Eindhoven

50.00

Beheer Personeelsrestaurant Schiphol B.V.

Schiphol

50.00

Pantares Tradeport Asia Ltd

Hong Kong

50.00

GEM Beheer Badhoevedorp B.V.

Schiphol

50.00

Villa Carmen B.V.

Amsterdam

47.44

Villa Carmen Srl

Milaan

47.44

Arlanda Schiphol Development Company AB

Stockholm

40.00

VAI 1 SCI

Parijs

40.00

GEM A4 zone west Beheer B.V.

Schiphol

33.33

GEM A4 zone west C.V.

Schiphol

33.00

GEM Badhoevedorp Zuid C.V.

Schiphol

19.00

As managing partners, the subsidiary Airport Real Estate Management B.V. and joint ventures Flight Forum Beheer B.V. and Flight Square Beheer B.V., bear joint and several liability for the debts of Airport Real Estate Basisfonds C.V., Flight Forum C.V. and Flight Square C.V., respectively.

The group nevertheless exercises joint control over all the above entities and so they are consolidated proportionally. In the contractual arrangements establishing these joint ventures, the venturers have agreed that decisions on key strategic, financial and operational matters require their unanimous consent.

Abridged balance sheet for Schiphol Group’s interests in the proportionately consolidated entities:

(in thousands of euros)

2013

2012

Assets

Non-current assets

264,029

233,998

Current assets

11,863

40,959

275,892

274,957

Equity and liabilities

Total equity

133,259

130,498

Non-current liabilities

128,160

131,403

Current liabilities

14,473

13,056

275,892

274,957

Abridged income statement for Schiphol Group’s share in the results of these entities:

(in thousands of euros)

2013

2012

Revenue

26,375

26,492

Other income, from property

- 483

- 9,762

25,892

16,730

Total operating expenses

10,386

20,225

Operating result

15,506

- 3,495

Financial income and expenses

- 4,875

- 4,502

Share in result of associates

248

414

Result befor tax

10,879

- 7,583

Corporate income tax

- 290

485

Result

10,589

- 7,098

At 31 December 2013, the outstanding loans to joint ventures were 6.9 million euros as a result of transactions with joint ventures.