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Annual Statements

Financial reporting

Price winner 2012 in the category non-listed

Home Annual Statements Financial Statements 2012 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

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

Arlanda Schiphol Development Company AB

Stockholm

40.00

Villa Carmen B.V.

Amsterdam

47.44

Villa Carmen Srl

Milaan

47.44

GEM A4 zone west C.V.

Schiphol

33.00

GEM A4 zone west Beheer B.V.

Schiphol

33.33

GEM Beheer Badhoevedorp B.V.

Schiphol

50.00

GEM Badhoevedorp Zuid C.V.

Schiphol

19.00

EnergyGrounds B.V.

Schiphol

51.00

Transport Beheer B.V.

Schiphol

60.00

Transport C.V.

Schiphol

60.00

VAI 1 SCI

Parijs

40.00

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)

2012

2011

Assets

Non-current assets

233,998

229,757

Current assets

40,959

8,227

274,957

237,984

Equity and liabilities

Total equity

130,498

110,164

Non-current liabilities

131,403

83,585

Current liabilities

13,056

44,235

274,957

237,984

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

(in thousands of euros)

2012

2011

Revenue

26,492

23,739

Other income, from property

- 9,762

314

16,730

24,053

Total operating expenses

20,225

10,872

Operating result

- 3,495

13,181

Financial income and expenses

- 4,502

- 3,846

Share in result of associates

414

- 736

Result befor tax

- 7,583

8,599

Corporate income tax

485

- 377

Result

- 7,098

8,222

At 31 December 2012, the outstanding loans to joint ventures were EUR 7.2 million as a result of transactions with joint ventures.