Change in consolidation


On 13 December 2017, Schiphol Group sold its interest in Schiphol Hotel Holding B.V. and the related subsidiaries Schiphol Operational Company and Schiphol Property Company. As per this date the assets and liabilities, as well as the results of Schiphol Hotel Holding B.V. have no longer been consolidated. The assets and liabilities were classified as 'held for sale' since 31 December 2015. In 2017 the contribution of this group to net revenues and to the operating profit was 30 million euros and 6.3 million euros respectively.

As a consequence of the sale there is a positive result of 26 million euros in 2017, which is recorded as part of other income. The net cash received in respect of the sale amounts to 144.5 million euros.

(in thousands of euros)

13 December 2017

Assets used for operating activities

122,166

Cash and cash equivalents

2,912

Trade and other receivables

1,768

Assets held for sale

126,846

Deferred tax liabilities

2,255

Trade and other payables

2,600

Liabilities held for sale

4,855

Net assets and liabilities held for sale

121,991

Consideration received in cash

147,369

Cash and cash equivalents disposed

-2,912

Net cash inflow

144,457

Other income

Consideration received in cash

147,369

Consideration receivable

1,685

Total income on disposal of controlling interest

149,054

Selling expenses

-1,024

Disposed net assets and liabilities

-121,991

Total result on disposal of controlling interest

26,039

In 2018 there were no changes in consolidation.

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