Retail Estates SA2017年年度报告.pdf

1、1risk management I I retail estates I annual report 2016-2017 R E T A I L E S T A T E S 2 0 1 7O1Risk management 12O2LetteR to the shaRehoLdeRs 24O3management RepoRt 30O4RetaiL estates on the stock exchange 76O5ReaL estate RepoRt 86O6financiaL RepoRt 120O7peRmanent document 184O8misceLLaneous 206sum

2、mary2 I Retail estates I annual RepoRt 2016-2017 aLteRnative peRfoRmance measuRes and the teRm“epRa eaRnings”Alternative performance measures are standards that Retail Estates nv uses to measure and track its financial performance.The measures are used in this annual report but are not defined in a

3、law or generally accepted accounting principles(GAAP).The European Securities and Markets Authority(ESMA)has issued guidelines applicable from 3 July 2016 for the use and explanation of alternative performance measures.The terms considered by Retail Estates nv as an alternative performance measure a

4、re contained in chapter 8 of this report,Miscellaneous,called“Glossery-Alternative performance measures”.The definition,purpose and reconciliation of the alternative performance measures are foreseen as required by the ESMA Directive.As a result of this directive,the previously used term“net current

5、 result”is no longer applicable.The designation has therefore been changed to“EPRA earnings”.There is no substantive difference with the previously used term“net current result”.3risk management I I retail estates I annual report 2016-2017 4 I Retail estates I annual RepoRt 2016-2017 GeoGraphical sp

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