ANNUAL REPORT 2006 - DG Hyp

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Notes to the Financial Statements Notes to the Profit and Loss Account (26) There is no breakdown according to geographic markets within the meaning of Section 34 (2) no. 1 of the RechKredV as a result of the fact that, as a whole, DG HYP’s activities on foreign markets are not material. (27) Other operating income Other operating income totalling € 15.2 million includes mainly € 5.3 million in rental income, € 2.3 million in income on services rendered, and cost refunds totalling € 2.2 million in connection with costs incurred in 2005 for the sale of a portfolio realised in 2006. (28) Other operating expenses Other operating expenses totalling € 12.6 million were mostly characterised by one-off expenses totalling € 10.0 million incurred as part of the re-orientation of VR IMMO. (29) Taxes on income The tax income recorded in the year under review is due to the tax overhead credit related to partial profit transfers, covered by section 8a of the KStG. This effect is partially compensated for by the full reversal of deferred tax assets. Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2006 75
Cash flow statement (30) Cash flow statement 76 Deutsche Genossenschafts-Hypothekenbank AG | Annual Report 2006 Notes to the Financial Statements € mn 2006 2005 1. Net income for the period (including income/loss portion attributable to minority shareholders) excluding extraordinary items and taxes Non-cash items included in net income and reconciliation to cash flow from operating activities 33 51 2. +/– Depreciation, write-downs and additions on receivables, tangible fixed assets and financial assets 89 104 3. +/– Increase/decrease in provisions 12 1 4. +/– Other non-cash expenses/income 4 1 5. –/+ Profits/losses from the disposal of tangible fixed assets and financial assets – 14 – 37 6. –/+ Other adjustments (net balance) – 328 – 325 7. = Subtotal Net changes in cash funds/assets and liabilities from operating activities – 204 – 205 8. Loans and advances 8a. +/– – to banks – 846 – 202 8b. +/– – to customers 638 39 9. +/– Securities (excluding financial assets) – 3,414 – 2,321 10. +/– Other assets from operating activities – 167 – 100 11. Liabilities 11a. +/– – to banks 2,248 – 297 11b. +/– – to customers 2,448 – 41 12. +/– Securitised liabilities 1,353 5,236 13. +/– Other liabilities from operating activities 139 87 14. + Interest and dividends received 3,813 3,890 15. – Interest paid – 3,560 – 3,522 16. + Extraordinary cash receipts – – 17. – Extraordinary cash payments – – 1 18. +/– Income tax payments 8 – 19. = Cash flow from operating activities 2,456 2,563 20. Receipts from the disposal of 20a. + – financial assets 64 66 20b. + – tangible fixed assets – – 21. Payments for investments in 21a. – – financial assets – 2,762 – 2,881 21b. – – tangible fixed assets – 3 – 1 22. + Cash receipts from the disposal of consolidated companies and other business units – – 23. – Cash payments for the acquisition of consolidated companies and other business units – – 24. +/– Changes in cash funds due to other investing activities (net balance) – 1 – 4 25. = Cash flow from investing activities – 2,702 – 2,820 26. + Cash receipts from issue of capital 30 30 27. Cash payments to owners and minority shareholders 27a. – – Dividends paid – – 27b. – – Other distributions/cash payments – 59 – 39 28. +/– Changes in cash funds due to other capital movements (net balance) 286 260 29. = Cash flow from financing activities 257 251 30. Cash funds at the beginning of the period 13 19 31. +/– Cash flow from operating activities 2,456 2,563 32. +/– Cash flow from investing activities – 2,702 – 2,820 33. +/– Cash flow from financing activities 257 251 34. +/– Effect on cash funds of exchange rate movements, changing in reporting entity structure and revaluation – – 35. = Cash funds at the end of the period 24 13
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Deutsche Genossenschafts-Hypotheken
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CONTENTS Letter from the Management
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In the past few years, DG HYP has s
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PROPORTION OF RESIDENTIAL REAL ESTA
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DEVELOPMENT IN DEMAND FOR RESIDENTI
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From DG HYP’s perspective, immo e
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Active portfolio management as a ke
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Deutsche Genossenschafts-Hypotheken
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Management Report The sales drive f
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Management Report RESIDENTIAL REAL
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1 2 3 1 2 3 Office Building “Kant
Page 23 and 24: Management Report Commercial buildi
Page 25 and 26: Deutsche Genossenschafts-Hypotheken
Page 27 and 28: Management Report Overall, new port
Page 29 and 30: Management Report LOCAL AUTHORITY L
Page 31 and 32: Management Report REFINANCING STRUC
Page 33 and 34: Management Report FINANCIAL SITUATI
Page 35 and 36: Management Report Costs development
Page 37 and 38: Management Report strategy, monitor
Page 39 and 40: Management Report c) Credit scoring
Page 41 and 42: Management Report DG HYP VaR (10-DA
Page 43 and 44: Management Report A system for coll
Page 45 and 46: Management Report NUMBER OF EMPLOYE
Page 47 and 48: Management Report Business Developm
Page 49: FINANCIAL STATEMENTS Financial Stat
Page 52 and 53: ASSETS BALANCE SHEET 31 Dec 2005
Page 57: PROFIT AND LOSS ACCOUNT FOR THE PER
Page 60 and 61: Notes to the Financial Statements N
Page 62 and 63: Notes to the Financial Statements N
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Page 76 and 77: Notes to the Financial Statements C
Page 78 and 79: Notes to the Financial Statements A
Page 80 and 81: Notes to the Financial Statements A
Page 82 and 83: Notes to the Financial Statements O
Page 86 and 87: The following is an English transla
Page 88 and 89: In regular discussions with the Cha
Page 90 and 91: Corporate Bodies and Committees; Ex
Page 92 and 93: Corporate Bodies and Committees; Ex
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ANNUAL REPORT 2006 - DG Hyp

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