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Key Performance Indicators for CapMan Group      
           
M€ 2007 2008 2009 2010 2011
Turnover 51.1 36.8 36.3 38.1 32.4
  Management fees 24.6 29.6 33.3 32.9 27.1
  Carried interest** 23.6 4.1 0.0 2.6 3.1
  Income from real estate consulting 2.1 2.4 2.4 1.6 1.0
  Other income 0.8 0.7 0.6 1.0 1.2
Other operating income 0.2 0.1 0.1 23.0 0.6
Operating expenses -27.7 -29.8 -33.0 -42.8 -34.9
Fair value gains/losses of investments 6.2 -13.4 -3.3 2.7 12.8
Operating profit/loss 29.8 -6.3 0.1 21.0 11.1
Financial income and expenses 1.1 -2.0 -0.2 0.6 0.6
Share of associated companies' result 1.9 -2.4 1.3 2.4 2.1
Profit/loss before taxes 32.7 -10.7 1.2 23.9 13.7
Profit/loss for the financial year 24.2 -8.1 0.1 17.6 11.1
Return on equity (ROE), % 38.9 -11.8 0.2 20.8 12.4
Return on investment (ROI), % 44.2 -6.3 2.8 19.7 11.9
Equity ratio, % 57.6 50.3 55.1 58.5 61.9
Net gearing, % -27.5 30.0 34.8 7.3 14.4
Dividend paid *** 12.8 0.0 3.4 10.1 5.9
Personnel (at year-end) 110 141 150 150 122
           
           
Key Ratios Per Share          
  2007 2008 2009 2010 2011
Earnings/share, € 0.24 -0.10 -0.03 0.18 0.10
Diluted 0.24 -0.10 -0.03 0.18 0.10
Shareholders' equity/share****, € 0.86 0.86 0.94 1.08 1.05
Dividend/share***, € 0.16 0.00 0.04 0.12 0.07
Dividend/earnings***, % 67.0 0.0 0.0 68.0 70.0
Average share issue adjusted number of shares during the financial year ('000) 78,143 80,433 83,016 84,255 84,255
Share issue adjusted number of shares at year-end ('000) 79,969 81,458 84,282 84,282 84,282
Number of shares outstanding ('000) 79,968 81,323 84,255 84,255 84,255
Own shares ('000) 0 136 26 26 26
           
             
* The Access transaction had an impact of MEUR 22.7 on CapMan's 2010 result.  
** Minority interest €7.6 million in 2007.    
*** Proposal of the Board of Directors to the Annual General Meeting held on 14 March 2012.
**** In line with IFRS standards, the €29 million bond issued is included in equity and also in calculating shareholders' equity per share.