Interparking Annual Report 2010

From cities to better places. Together.

Activities Report 2010

01

Key figures

“ All of us working together ! ”

Key figures

Message from the Managing Director 01

Activities 03

Interparking in Europe 04

Our history 06

Our developments in 2010 07

Our car parks 08

Board of directors and management 10

Our products 14

Contents

Interparking devoted the year to implementing its new strategy and its three pillars: Mobility, Quality and Ecology. Firstly, we intensified our efforts to improve urban mobility and traffic management. We also optimised the convenience and security for our clients by renovating a substantial number of our car parks. Today, we are proud of our position as an important player in the quality of life, which we have achieved by making eco-friendly choices.

In Belgium, Interparking is committed to becoming a 100% carbon-neutral company. In all of our activities, we contribute to initiatives to raise environmental awareness.

More than ever, we want to be part of everything which contributes to improving transport policy and we remain steadfast in our commitment to this effort.

In this document, you will see real efforts in various countries to improve the customer experience and adapt our car parks to different urban situations, while we strengthen our commitment to sustainable development.

Our investments reached € 180 million in 2010, mainly for the acquisition of additional car parks, the intensified improvement of our existing car parks and the further consolidation of our leadership position in Europe.

Achieving these goals has beenmade possible by the dynamismof the company and theconfidence of our partners,shareholders and clients.

The success of Interparking and its professionalism in car park management are the driving forces in our continued expansion as a preferred partner in responsible mobility, which is invaluable for the public and the environment. I thank all of you for your contribution.

Roland Cracco, Managing Director

The challenges ahead 16

Financial report 18

Management report 20

Consolidated balance sheet 22

Consolidated profit & loss 24

Appendices to the consolidated accounts 26

Balance sheet Interparking s.a. 32

Profit & loss account Interparking s.a. 34

Joint statutory auditors’ report 36

in million € 2009 2010 %

Operating income 284,3 304,5 +7%

EBITDA 96,1 103,8 +8%

Profit or loss 24,8 30,0 +21%

Net current cash flow 68,2 73,7 +8%

Message from the Managing Director

Working together

Activities

The strategy of the Interparking Group is based on our three priorities of Mobility, Quality and Ecology. Everyone in the company is working to improve traffic management in the 341 European cities where we are present.

05

Expansion throughout the Continent

Interparking in Europe

8 countries341 cities580 car parks1 932 employees277 202 parking spaces 183 615 Off-Street spaces 93 587 On-Street spaces75 million clients a year

LEGEND

• Off-Street

• On-Street

Germany

164cities

354 car parks

88 348spaces

Austria

7cities

37 car parks

13 552spaces

Romania1 car park under construction

Italy

119cities

5car parks

83 765spaces

France

5cities

23 car parks

12 628spaces

Netherlands

15cities

44 car parks

17 878spaces

Belgium

10cities

68 car parks

40 917spaces

Spain

21cities

49 car parks

20 114spaces

Tenerife

06

Together we are creating a city for everyone

Our history Our developments in 2010

For more than 50 years, the Interparking Group, a leader in the car park sector, has been the acknowledged expert in the development and operation of On- and Off-Street public car parks. Our 1 932 employees are permanently committed to serving clients in our network of 580 car parks across 341 cities in 8 European countries. b b Belgium

• Objective 100% carbon-neutral parkings

• Commitment to electric cars• Participation in the Zen

Car project• Installation of defibrillators

b b France• Renovation of Parking

Marbeuf-Champs Elysées

SpainAcquisitions/Improvements/ Inaugurations/Awards• Acquisition of Metropark group

(12 car parks)• Expansion of Carranza car park

in Cadiz• 7 Spanish car parks will be

certified by Bureau Veritas with a view to obtaining the European Standard Parking Award

• Acquisition of 2 car parks in Santander

Germany• 15 new locations: • Berlin, Hamburg, Herford,

Zwickau, Gelsenkirchen, Wiesbaden and 9 in Cologne

• Radical renovations and re-openings :

• Reutlingen, Hanover• Expansion of the Control Room

in Germany• Events: e.g. • ILA Berlin Air Show• Awards and prizes : • ADAC, IHK• Participation in a number of

environmental projects and green initiatives

Italy• Opening of the Milano Piemonte

car park• Car park acquisitions in Padua

and Mantua• Improvement of the Padua car

park and integration in the environment

Austria• One new car park in Vienna• Opening of the Control Room

in Austria

Netherlands• “Best Parking of the Netherlands

Award” given to Vier Meren car park

• 4 new locations : • The Hague, Hengelo, Delft

and Amsterdam• Contracts renewed for

7 car parks• Renovations and improvements:

2 car parks in Rotterdam and Groningen

• New investments concerning CO2

reduction and the environment

Romania• Start of engineering works for the

University Square car park in Bucharest

Miscellaneous• Interparking launches its

iPhone application for finding the nearest car park

• 580 car parks in the portfolio• The new house style emphasises

the welcome and information to customers

1958 BelgiumBrussels World Fair. To contribute to the event, in 1957, the first “58 car park” is built by the limited company “Parking 58 S.A.”.

1966 The NetherlandsFirst foreign investment: the Schouwburg car park in Rotterdam. Two years later, the subsidiary “ Parking 68 ” is founded. 1975 France

Creation of the Uniparc subsidiary in France.

1967 GermanyStart of activities in Germany with Parkhaus Europa-Center GmbH.

1995 SpainAcquisition of 50% of Contipark in Spain which goes on to become Interparking Hispania SA.

2001 ItalyArrival in Italy when the Tronchetto car park in Venice is added to the portfolio.

2010 RomaniaCar park under construction in Bucharest.

1975 AustriaStart of activities with “Contipark Austria GmbH”.

0908

Together, we are taking on major challenges

Our car parks

Our commitment illustrates the desire to have a positive influence on urban traffic flow. In certain urban areas,

30%

of traffic is generated by drivers looking for somewhere to park.

In terms of ecological applications, car parks have been equipped with movement sensors for lighting management, as well as with photovoltaic panels. Eco-friendly paint is used for signage. We have also opted for a mechanical air ventilation system, while our inspectors travel by bicycle or in our new fleet of vehicles, a growing number of which are more environmentally friendly.

Together for better mobility We conceive and design our public car parks according to their Off-Street or On-Street situation. The locations and designs are intended to optimise their use.Tourist cities such as Venice, Cannes and Bruges belong to our largest sites. We prioritise

proximity and easy access for railway and airport terminals. We aim for speed of deliveries and movements for shopping centres, event sites and hospitals, all of which demand particular organisation often with direct links to building entrances.

In certain urban areas, 30% of traffic is generated by drivers looking for somewhere to park. As such, in On-Street parkings,we have also intensified our efforts in terms of signage and access areas for shops. This commitment illustrates our desire to have a positive influence on urban traffic flow.

In Off-Street facilities, our new house style emphasises our desire to welcome clients and properly

inform them, with new visual codes and more readable logos, clearer and more numerous markings for vehicle movements and parking, and attractive pictograms for floor levels. The result is improved convenience and security, as well as functionality and significant energy savings.

Our commitment is to fight against congestion in cities, provide convenient and safe car parks, and constantly improve our environmental performance.

6 Michael Kesseler Germany / Austria

Contipark Parkgaragen GmbH Rankestraße, 13 - 10789 Berlin T: 49-30-25 00 970

Contipark International Austria GmbH Reichenhaller Straße, 8 - 5020 Salzburg T: 43-662-80990-0

7 Nik Subramanian Belgium

S.A. Interparking N.V. 1, rue de l’évêque - 1000 Brussels T: 32-2-549 58 11

8 Ernesto Piera Spain

Interparking Hispania S.A. Calle Valencia, 93 3° 2a - 08029 Barcelona T: 34-93-451 66 24

9 Marc Grasset France

Interparking France S.A. Rue de Gramont, 30 - 75002 Paris T: 33-1-55 04 66 00

10 Antonio Fraccari Italy

Interparking Italia S.R.L. Isola Nuova del Tronchetto - 30135 Venezia T: 39-041-520 75 55

11 Jaap Koedoot Netherlands

Interparking Nederland B.V. Weena point A - Weena, 710-712 3014 DA Rotterdam (Postbus 501 - 3000 - AM Rotterdam) T: 31-10-217 09 70

Board of directors

Claude De Clercq Honorary Chairman1 Yves De Clercq* Chairman2 Alain Devos** Vice-Chairman3 Roland Cracco*** Managing Director4 Alain De Coster Director5 Philippe Latour Director6 Michel Mathieu Director7 Xavier Pierlet**** Director8 Baudouin Ruquois***** Director9 Marc Van Begin****** Director

* manager of SCA Yves De Clercq** manager of SPRL A. Devos*** manager of SPRL Kingsdale Consulting**** manager of SPRL Xavier Pierlet***** manager of SPRL Baudouin Ruquois management****** manager of SPRL Marc Van Begin

Executive commitee

Yves De ClercqAlain DevosXavier PierletBaudouin Ruquois

Corporate management

Roland Cracco

Ilse De Graeve Budget & ControlEdouard de VaucleroyChief Financial OfficerOlivier MaesIT ManagerElisabeth RobertiSecretary GeneralKoen TackxMarketing Director

Operational management

Board of directors and management

6

11

10

8

316

97 2

48 5

Situation as from 16/05/2011

9

7

Caring together As a major player in city centres and their suburban areas, Interparking aims to achieve the highest standards in ecological, economical and public mobility.

Social responsibility

1514

Together, we are closer to our customers

Our products

Innovative solutions As well as improving our car parks in order to better respond to customer expectations in quality and environmental aspects, we have applied a pricing policy which is advantageous compared to On-Street parking. We have also developed user-friendly incentives, “for example, during road works”, and strengthened visual and illuminated signage of parking bay availability in our car parks. We also promote the use of our multi-car-park products and P-card payment systems, adapted for various types of user, in order to further improve traffic flows at car park entrances and exits.

Serving all forms of transportThe extended application of P-cards also incorporates a multimodal transport approach, a development where Interparking is now a recognised leader. We consciously strive at locating our car parks at strategic intermodal locations, irrespective of whether they concern bicycles or planes, and are working with public and private players to develop partnerships and services along these lines:• P-Cards which can be used

on public transport, by developing a partnership with STIB in Brussels,

• strengthening our collaboration with Deutsche Bahn for new stations,

• more signalling of public transport stations which are close to our car parks,

• reserved spaces for bicycles and motorcycles, and bike rental in our car parks.

Concrete and recognised commitment The company is also increasing the number of initiatives in favour of eco-friendly cars. We have launched, and are supporting, several projects in Belgium and Germany in particular for increased integration of electric cars, including the MINI E Berlin project powered by Vattenfall Europe AG. This commitment by Interparking also provides opportunities for contributing to actions aimed at raising awareness of improved mobility, of which the BeMobility project in Germany is an example.

Our efforts and initiatives have won several awards, including the “Best Parking of the Netherlands Award”, and the “ADAC car parks” national competition in Germany.

Interparking has now obtained a total of 103 European Standard Parking Awards for the quality of its car parks.

16 17

Together for a greener and more humane existence

The challenges ahead

Environmental quality is at the heart of all our commitments and activities, and we have further strengthened our achievements in this respect in 2010.

Belgium is playing a leading role in this area since Interparking has committed to becoming a 100% carbon-neutral, green energy company.

Significant resources have therefore been devoted to renovating several car parks in Belgium and, via our Control Room, to the management of our car parks in Brussels and Antwerp, as well as in Germany. Our work in support of the environment will be further intensified in the future.

This direction goes hand-in-hand with projects concerning our image as an employer and recruiter. Our Interparking School provides employee training in all areas, including technical, practical and relationship skills. Courses in 2010 totalled several thousand hours.

We have also developed an active policy to encourage diversity. The company offers career prospects to all employees, whatever their level of training or ethnic background, including pensioners, many of whom enjoy working in our car parks.

Another on-going project concerns our procedures for defining the skills required for our expansion, and therefore the profiles for which we are looking. We are an active recruitment partner with both private and public employment agencies.

This is just one more way in which Interparking shows its determination to be a benchmark company, in step with the changes taking place in society.

Every day Interparking is developing positive solutions for the environment.

Interparking is committed to becoming a

100%

carbon-neutral company.

Benefiting together

Financial report

Interparking's leadership position in the improvement of urban parking makes it a significant economic player. Our investments and development have borne fruit in 2010. For the first time, the Group consolidated net sales exceeded € 300 million.

2120

Management report

SA InterparkingManagement report on the consolidated accounts for the 2010 financial year

Dear Sirs,

We have the pleasure of presenting to you the consolidated accounts of the Interparking Group as at December 31, 2010.

The financial year saw the Group’s consolidated sales rise from EUR 284.3 million to EUR 304.5 million, i.e. an increase of 7.1 %, whilst the EBITDA rose by 8.1% to EUR 103.8 million.

This growth can be attributed to the good general performance of the existing car parks and the increase in the number of car parks in operation. As at December 31, 2010, Interparking was operating 580 car parks in 341 cities in the seven euro zone countries and had more than 277,000 parking spaces under its management, compared with 539 car parks and 269,000 parking spaces in 2009.

The year 2010 was marked by the acquisition of several high-quality car parks.

At the beginning of the year our Spanish subsidiary finalised the acquisition of the company Metropark. This operation enabled us to acquire an important position in the city of Valencia and has also strengthened our position in cities where we were already present, in particular Madrid, as well as in the hospital sector.

In Italy, the Group took over a company that owned a car park located in the centre of Mantua and started up the operation of a new car park in Milan.

Furthermore, at the end of December Interparking Hispania acquired the rights of two concessions in the city of Santander. In Germany, the end of the year

also saw the signing of the transaction for the purchase of a company owning a high-quality car park in Wiesbaden. These latter two operations together with several other operations currently still being finalised in France and Belgium, should contribute favourably to the Group’s result from the 2011 financial year onwards, despite the fact that several concession contracts, chiefly in Spain, will be reaching their termination date.

Interparking set up a Romanian subsidiary with a local partner with a view to build and operate a car park in the centre of Bucharest. The objective for the company is to position itself on this market.

In Germany, the Contipark group is continuing to step up its activities thanks to the management of new car parks, inter alia in partnership with the Deutsche Bahn.

In the other countries, the main developments mainly concern a consolidation of positions in those cities where the Group was already active.

In 2010 the Group continued to step up the use of remote management centres as well as the development of multi-car park products.

In the course of 2010 the Group continued to renovate and further enhance the quality of its car parks. This effort was rewarded with the award of its 103rd “European Standard Parking Award” (ESPA) certification by the European Association of Car Parks (EPA) at the end of December 2010.

In the framework of its social responsibility, Interparking SA attained CO2 neutral certification for its operation.

Our group’s activity is clearly linked to the economic trends affecting the European countries in which we are active and more particularly the private

consumption indices. However, our diversification policy ensures that our income is characterised by a recognised stability thanks to the variety of the needs with which our car park operations are associated (leisure, shopping, work, airports, railway stations, hospitals, etc.) and the variety of the policies pursued by the cities and regions in which we work in Europe.

The main specific risk that can affect our company’s development is the risk associated with accessibility by car and the commercial and cultural appeal of each of our car park sites. Therefore, Interparking places priority on concerns in cities that have strong and diversified pulling power.

The rising cost of using a car and a growing awareness of environmental issues are leading people to use their car more rationally and to modify certain types of behaviour. However, this negative effect is limited by the flexibility offered by this form of transport and is also offset by the need, for cities and leisure centres or shopping centres that want to remain attractive, to continue to redevelop their areas of social interaction which have hitherto often been occupied by poorly organised or even uncontrolled parking.

All these considerations and risks are taken into account when investment decisions are taken.

Net financial charges excluding depreciation on consolidation adjustments are up 27.5%, rising from EUR 11.2 million in 2009 to EUR 14.2 million in 2010. This result stems from the additional indebtedness associated with our major acquisitions.

Interparking has negotiated new bank loans and has paid off debts to its shareholders in order to strengthen its financial structure. The Group has also underwritten interest rate swap contracts in respect of a part of these new loans in order to protect itself against interest rate rises.

During the financial year, Interparking Hispania transferred one of its car parks to the municipality of Barcelona with a view to its redevelopment. This operation generated a pre-tax capital gain of almost EUR 6 million.

Taking account of these elements and depreciation which is up by 16%, the net result before tax amount to EUR 45,927,692 compared with EUR 41,437,648 in 2009 (+10.8%), and the Group share in the result for the financial year has risen to EUR 30.0 million, compared with EUR 24.8 million in 2009 (+21%).

No major event has occurred since the closure of the accounts for the 2010 financial year which might have any significant effect on the company’s financial situation and results.

Brussels, February 22, 2011The Board of Directors

22 23

Assets

in ,000 € 2006 2007 2008 2009 2010

FIxED ASSETS 756 459 545 167 540 918 550 063 679 868

I. FORMATION ExpENSES 318 303 85 44 124

II. INTANGIBlE ASSETS 46 455 51 958 49 522 25 231 40 279

III. CONSOlIDATION DIFFERENCES 147 277 154 434 142 475 128 595 198 337

IV. TANGIBlE ASSETS 331 295 333 649 342 270 385 540 430 206

a. Land and buildings 233 998 231 777 272 911 318 024 353 702

b. Plant, machinery and equipment 12 037 17 195 19 357 20 615 25 293

c. Furniture and vehicles 2 848 3 062 3 664 3 691 3 964

d. Leasing and other similar rights 60 852 57 915 33 422 23 166 21 242

e. Other tangible assets 5 003 5 226 8 004 12 210 14 130

f. Assets under construction and advance payments 16 557 18 474 4 912 7 834 11 875

V. FINANCIAl ASSETS 231 114 4 823 6 566 10 653 10 922

a. Companies valued by the equity method 226 580 734 1 098 1 180 1 319

- Participations 226 580 734 1 098 1 180 1 319

b. Other companies 4 534 4 089 5 468 9 473 9 603

- Participations, shares and units 621 695 1 213 1 433 1 216

- Amounts receivable 3 913 3 394 4 255 8 040 8 387

CuRRENT ASSETS 45 173 47 861 51 180 120 216 57 126

VI. AMOuNTS RECEIVABlE AFTER MORE ThAN ONE yEAR

693 1 203 2 295 1 894 1 704

a. Trade receivables 7 5 - - -

b. Other amounts receivable 125 130 163 131 267

c. Differed taxes 561 1 068 2 132 1 763 1 437

VII. INVENTORIES AND CONTRACTS IN pROGRESS 154 504 823 731 562

a. Inventories 154 504 823 731 562

VIII. AMOuNTS RECEIVABlE WIThIN ONE yEAR 14 484 16 732 18 330 19 421 25 674

a. Trade receivables 8 337 11 055 12 129 10 827 10 971

b. Other amounts receivable 6 147 5 677 6 201 8 594 14 703

Ix. INVESTMENTS 7 180 3 329 2 169 71 137 292

a. Own shares - - - - -

b. Other investments and deposits 7 180 3 329 2 169 71 137 292

x. CASh AT BANK AND IN hAND 18 371 22 375 22 791 20 733 21 786

xI. DEFERRED ChARGES AND ACCRuED INCOME 4 291 3 718 4 772 6 300 7 108

TOTAl ASSETS 801 632 593 028 592 098 670 279 736 994

liabilities

in ,000 € 2006 2007 2008 2009 2010

CApITAl & RESERVES 227 184 254 751 274 955 289 899 310 091

I. ShARE CApITAl 15 885 15 885 15 885 15 885 15 885

a. Issued capital 15 885 15 885 15 885 15 885 15 885

b. Uncalled capital - - - - -

II. ShARE pREMIuM ACCOuNT 38 729 38 729 38 729 38 729 38 729

IV. CONSOlIDATED RESERVES 161 868 190 956 211 052 225 795 245 476

V. CONSOlIDATION DIFFERENCES 3 546 3 577 3 577 3 577 3 577

VI. TRANSlATION DIFFERENCES 111 - - - -7

VII. INVESTMENT GRANT - - - - 137

VIII. MINORITy INTERESTS 7 045 5 604 5 712 5 913 6 294

pROVISIONS 23 288 25 504 18 691 21 386 21 703

a. Provisions for liabilities and charges 1 735 2 207 3 102 2 842 2 935

- Pensions and similar obligations 1 517 1 800 1 913 2 034 1 725

- Taxation - - - - 367

- Other liabilities and charges 218 407 1 189 808 843

b. Differed taxation 21 553 23 297 15 589 18 544 18 768

lIABIlITIES 551 160 312 773 298 452 358 994 405 200

x. AMOuNTS pAyABlE AFTER MORE ThAN ONE yEAR 294 969 180 572 118 417 229 777 280 465

a. Financial debts 290 836 176 457 114 274 221 185 272 052

- Subordinated loans - - - - -

- Unsubordinated debenture loans - - - - -

- Leasing and other similar obligations 20 353 10 738 6 047 17 691 16 314

- Banks and financial institutions 92 380 73 575 49 798 40 044 253 005

- Other loans 178 103 92 144 58 429 163 450 2 733

b. Trade debts - - - - -

d. Other debt 4 133 4 115 4 143 8 592 8 413

xI. AMOuNTS pAyABlE WIThIN ONE yEAR 241 846 114 541 162 596 112 631 109 721

a. Amounts > one year which are payable within the year

24 861 31 665 59 408 46 023 42 009

b. Financial debts 169 212 37 452 37 685 16 404 11 773


- Other loans 146 088 25 394 26 573 44 137

c. Trade debts 21 145 23 658 27 926 24 117 27 545

d. Advances received on orders in hand - - - - -

e. Taxation, remuneration and social security 9 960 10 300 18 148 11 315 13 151

- Taxes 6 014 5 948 12 682 6 529 8 622

- Remunerations and social security costs 3 946 4 352 5 466 4 786 4 529

f. Other amounts payable 16 668 11 466 19 429 14 772 15 243

xII. ACCRuED ChARGES AND DEFERRED INCOME 14 345 17 660 17 439 16 586 15 014

TOTAl lIABIlITIES 801 632 593 028 592 098 670 279 736 994

Consolidated balance sheet

24 25

in ,000 € 2006 2007 2008 2009 2010

I. OpERATING INCOME 239 612 265 851 286 566 284 299 304 467

a. Turnover 235 186 258 907 279 490 276 444 296 135

d. Other operating income 4 426 6 944 7 076 7 855 8 332

II. OpERATING ChARGES (176 206) (196 135) (219 038) (218 925) (234 309)

a. Raw materials and consumables 640 742 1 045 1 245 830

b. Services and other goods 94 351 106 062 119 012 117 455 127 805

c. Remunerations, social security costs and pensions

45 073 49 536 56 088 56 968 58 541

d. Depreciation and other amounts written off formation expenses, intangible and tangible fixed assets

25 488 26 953 29 956 30 694 33 660

e. Amounts written off stocks 2 63 67 125 (194)

f. Provisions for liabilities and charges (346) 207 342 (275) 26

g. Other operating charges 10 998 12 572 12 528 12 713 13 641

III. OpERATING pROFIT 63 406 69 716 67 528 65 374 70 158

IV. FINANCIAl INCOME 1 045 1 641 926 812 900

a. Income from financial assets 28 301 9 14 7

b. Income from current assets 165 206 142 66 32

c. Other financial income 852 1 134 775 732 861

V. FINANCIAl ChARGES (32 859) (28 701) (25 870) (24 511) (31 736)

a. Debt charges 21 068 16 018 12 042 9 952 13 781

b. Depreciation on consolidation adjustments 10 973 11 862 12 866 12 531 16 593

c. Amounts written off current assets other than those mentioned under II e.

- - - - -

d. Other financial charges 818 821 962 2 028 1 362

VI. CuRRENT INCOME BEFORE TAx 31 592 42 656 42 584 41 675 39 322

in ,000 € 2006 2007 2008 2009 2010

VII. ExTRAORDINARy INCOME 89 238 36 121 6 825

a. Write-back of amounts written off on intangible and tangible fixed assets

- - - - -

c. Write-back of amounts written off on financial assets - - - 3 -

d. Write-back of provisions for extraordinary liabilities and charges

- - - - -

e. Capital gains on disposal of fixed assets 87 46 36 29 331

f. Other extraordinary income 2 192 - 89 6 494

VIII. ExTRAORDINARy ChARGES (26) (414) (311) (358) (219)

a. Extraordinary depreciation and amounts written off on formation expenses, intangible fixed assets

- - 35 16 37

c. Amounts written off financial fixed assets - - - 10 1

d. Provisions for extraordinary liabilities and charges 3 - - (4) -

e. Capital losses on disposal of fixed assets 9 39 2 73 55

f. Other extraordinary charges 14 375 274 263 126

Ix. pROFIT OR lOSS FOR ThE pERIOD BEFORE TAxATION

31 655 42 480 42 309 41 438 45 928

x. (1 532) (1 741) 8 548 (3 086) (743)

a. Withdrawals from differed and latent taxation reserve

306 424 8 548 613 611

b. Transfers to differed and latent taxation reserve (1 838) (2 165) - (3 699) (1 354)

xI. INCOME TAxES (13 662) (14 774) (21 101) (13 962) (15 505)

a. Taxes (13 669) (14 774) (21 104) (13 969) (15 522)

b. Adjustment of income taxes and write-back of tax provisions

7 - 3 7 17

xII. pROFIT OR lOSS FOR ThE pERIOD 16 461 25 965 29 756 24 390 29 680

xIII. pROpORTION OF ThE pROFIT FROM COMpANIES VAluED By ThE EquITy METhOD

9 192 4 032 1 068 1 151 1 291

a. Profits 9 192 4 032 1 068 1 151 1 291

b. Losses - - - - -

CONSOlIDATED pROFIT 25 653 29 997 30 824 25 541 30 971

Third party share of the profit 815 909 720 790 954

Group share of the profit 24 838 29 088 30 104 24 751 30 016

Consolidated profit & loss

26 27

V. SCOpE OF CONSOlIDATIONThe consolidated accounts were produced according to the principles outlined in the Royal Decree of 6 March 1990 on consolidated accounts.As well as the accounts of the parent company, the consolidated accounts are containing the accounts of subsidiaries, for which various methods have been used :

a. Full consolidationThe companies of which the Group controls at least 50% of the share capital and which it manages on a day-to-day basis, are consolidated according to the full integration method.

b. proportional consolidationThe companies which the Group controls jointly are consolidated according to the proportional integration method.c. Equity methodThe companies in which the Group directly or indirectly holds between 10% and 49% of the capital and which it does not manage on a day-to-day basis are consolidated using the equity method.d. unconsolidated companies Interests below 10% are not included within the scope of consolidation. The same applies to the companies in liquidation or in constitution.

VI. Criteria used for valuations in the consolidated accounts

A. The valuation rules used by INTERPARKING S.A. as outlined in the appendices of the annual accounts, are applicable to the consolidated accounts subject to the following conditions :

• The rates of depreciation of intangible and tangible assets : the accelerated depreciation mentioned in the company accounts of the Belgian companies within the Group are retreated as linear depreciations of the same duration in the consolidated accounts in order to take account of the economic lifetime of these assets.

• The consolidation adjustments : at the time of integration of a new subsidiary into the consolidated balance sheet, or when an additional shareholding is acquired, the book value of shares and interests in these companies acquired by companies already included in the consolidation is compared to the share of capital and reserves that it represents, taking into account a re-assessment of the value of assets and liabilities where necessary. A consolidation difference is therefore calculated. If it is negative, it is recorded on the liabilities side of the balance sheet in the section “consolidation differences”. If it is positive, it is recorded on the assets side of the balance sheet in the section “ consolidation differences ”.

• The valuation rules applied by non-Belgian companies are not amended unless they represent a significant interest except for the leasing contracts.

The closing rate is used as the method for translating balance sheet accounts, except the profit for the financial year which is converted at the average rate, and the average rate for the translation of the profit and loss accounts.

Only profits can be subject to annual amortisation and these are charged to a profit and loss account over a 20-year period (5% per annum). This amortisation is justified by the contribution, in a long-term perspective, of these sums to the increase in profits of the Group. Equity shall correspond with non-consolidated capital procurement prices, with deductions of appropriate amounts. Dividends relating to these are accrued in the year of their receipt. The value of corporate securities necessitating a re-appreciation of value shall correspond with the size of their contribution to the net situation of the issuing company, including the results of the financial year.The employees of the Group collect pensions according to the retirement systems provided by law and the practices of the countries in which the Group companies carry out their activity. In the event that formal retirement plans already exist and payments relating to these plans are made by the Group, the engagements concerned shall constitute an allowance. With regard to any possible early retirement agreements negotiated by some companies, the necessary allowances shall be organised, and the residual payments shall be re-evaluated, on a yearly basis.The financial statements of consolidated companies are closed on 31 December 2010.

B. The differed taxes are noticed on all the temporary differences, coming from charges and income included or excluded from the accounting result but deductible or reinstalled in the tax basis of the exercise in which these differences will reverse. Variable posting method is applied. The differed taxes are calculated on the last known rate at the date of the accounts.

Scope of consolidationI. lIST OF Fully CONSOlIDATED COMpANIES IN ThE GROup RIGhTS OF ThE GROup

Servipark International s.a. Brussels 100 % BE 458 245 915Serviparc s.a. Brussels 100 % BE 441 030 096Uniparc Belgique s.a. Brussels 100 % BE 427 825 725Beheercentrale n.v. Antwerp 100 % BE 406 391 002Parking Kouter s.a. Brussels 100 % BE 460 024 775Parking Monnaie s.a. Brussels 100 % BE 403 459 721Centre 58 s.a. Brussels 99,55 % BE 812 274 337Parking Roosevelt n.v. Antwerp 87,5 % BE 406 715 456Parking Deux Portes s.a. Brussels 75 % BE 403 317 486

Interparking France s.a. Paris 100 %Interparking Services S.A.S. Paris 100 %Uniparc Cannes s.n.c. Cannes 100 %Solopark S.A.S. Nîmes 100 %Servipark France S.A.S. Paris 100 %

Interparking Nederland b.v. Rotterdam 100 %Interparking Security b.v. Rotterdam 100 %Uniparc Nederland b.v. Rotterdam 100 %

Interparking Italia s.r.l. Venezia 100 %Interparking Servizi s.r.l. Venezia 100 %SIS s.r.l. Corciano 100 %Mazzini 82 S.P.A. Mantova 100 %

Centre 85 Parkgaragen und Immobilien GmbH Berlin 100 % Contipark Continentale Parkgaragen GmbH Berlin 94 % Contipark International Parking GmbH Berlin 94 %Contipark Parkgaragen GmbH Berlin 93,10 %Parkhaus Sudwest GmbH Berlin 93,10 %Parkhaus Waldthausenpark GmbH Berlin 93,10 %Servipark Deutschland GmbH Berlin 96,65 %

Contipark International Austria GmbH Salzburg 96,92 %Ö Park GmbH Vienna 96,92 %Optimus GmbH Vienna 96,92 %Optimus Parkhausverwaltungs GmbH & CoKG Vienna 96,92 %Villacher Parkgaragen GmbH & CoKG Salzburg 96,92 %

Interparking Hispania s.a. Barcelona 98,24 %Interparking Lleidatana s.a. Lleida 91,81 %Metropark Aparcamientos SAU Madrid 98,24 %

SC Square Parking S.R.L. Bucarest 55,16 %

III. lIST OF COMpANIES CONSOlIDATED By ThE EquITy METhODImmo TGV s.a. Brussels 33,20 % BE 434 655 515DB Bahnpark GmbH Berlin 46,06 %

Appendices to the consolidated accounts

28 29

VII. STATEMENT OF FORMATION ExpENSES

Opening balance 44

Movements in the year: -

- New expenses incurred -

- Depreciation -18

- Changes in scope -

- Other movements 98

ClOSING BAlANCE 124

VIII. STATEMENT OF INTANGIBlE ASSETS Concessions Goodwill

a. Acquisition value

Opening balance 40 314 18 198

Movements in the year:

- Acquisitions 21 800 -

- Sales and disposals -16 -1 664

- Currency translation effect - -

- Transfers from one heading to another 50 -

- Other movements - -

ClOSING BAlANCE 62 148 16 534

c. Depreciations and amounts written-down


Movements in the period:

- Recorded 2 186 619

- Written back as superfluous 2 321 -

- Sales and disposals -4 -

- Currency translation effect - -

- Transfers from one heading to another - -


ClOSING BAlANCE 22 689 15 715

d. Net book value 39 459 819

Ix. STATEMENT OF TANGIBlE FIxED ASSETS

a. Acquisition valueLand and

building

Plantmachinery

and equipmentFurniture

and vehiculeLeasing andsimilar rights

Othertangible

fixed assetsAssets underconstruction

Opening balance 607 538 55 045 13 939 36 863 36 835 7 834

Movements during the period:

- Acquisitions 63 485 11 376 2 096 - 3 662 10 803

- Sales and disposals - 4 011 -913 -791 - -87 -1 084

- Transfers from one heading to another 4 129 1 153 3 - 335 -5 670

- Other movements - -1 - - - -8

ClOSING BAlANCE 671 141 66 660 15 247 36 863 40 745 11 875

b. Revaluation surpluses 7 460 - - - - -

c. Depreciations and amounts written-down

Opening balance 296 975 34 429 10 247 13 697 24 625 -


- Recorded 21 106 4 452 1 417 1 924 1 976 -

- Written back as superfluous 9 590 3 233 226 - 24 -

- Written down after sales and disposals -2 772 -747 -607 - -10 -

- Transfers from one heading to another - - - - - -

- Currency translation effect - - - - - -

- Other movements - - - - - -

ClOSING BAlANCE 324 899 41 367 11 283 15 621 26 615 -

b. Closing net book value 353 702 25 293 3 964 21 242 14 130 11 875

x. STATEMENT OF FINANCIAl ASSETS

a. Acquisition valueCompanies valued

by the equity method Other enterprises Receivables

Opening balance 1 098 1 433 8 040


- Acquisitions 1 3 347

- Sales and disposals - -220 -

- Other movements - - -

ClOSING BAlANCE 1 099 1 216 8 387

c. Amounts written down

Opening balance 1 - -


- Recorded 1 - -

- Written down after sales and disposals - - -

ClOSING BAlANCE 2 - -

e. Movements in the capital and reserves

Opening balance 83 - -

- Group share of the profit 1 291 - -

- Other movements -1 152 - -

ClOSING BAlANCE 222 - -

Closing net book value 1 319 1 216 8 387

30 31

xI. STATEMENT OF CONSOlIDATED RESERVES

Opening balance 225 794


- Profit 30 017

- Dividend to shareholders -10 335

- Other movements -

Closing balance 245 476

xII. STATEMENT OF CONSOlIDATION DIFFERENCESPositive consolidation

differencesNegative consolidation

differences



- Changes in the scope due to an increase of percentage 86 336 -

- Changes in the scope due to a decrease of percentage - -

- Write downs - 16 593 -


Closing balance 198 337 3 577

xIII. STATEMENT OF AMOuNTS pAyABlE Due within one yearBetween one

and 5 years More than 5 years

a. Breakdown

Financial debts 42 009 219 596 52 456

1. Subordinated loans / debentures - - -

2. Unsubordinated loans / debentures - - -

3. Leasing and similar obligations 1 368 2 385 13 929

4. Amounts due to credit institutions 13 703 216 472 36 533

5. Other loans 26 938 739 1 994

Other debts - 2 362 6 051

b. secured liabilities

Financial liabilities

4. Amounts due to credit institutions - - 28 579

xIV. OpERATING pROFIT

a. Operating income per countries

1. Geographic breakdown

• Belgium 31,80%

• Germany 29,50%

• Spain 14,30%

• France 8,60%

• Italy 8,00%

• Austria 4,80%

• Netherlands 3,00%

b. Staff costs

1. Fully consolidated companies

Average number of staff 1 932

• Managers 118

• Salaried employees 1 557

• Hourly paid workers 257

Staff costs (in thousand Euro) 58 540

xV. RIGhTS AND COMMITMENTS NOT REFlECTED IN ThE BAlANCE ShEET

A2. Amount of real guarantees granted or irrevocably promised by the companies included in the consolidation on their shareholders assets, to secure respectively the debts and commitments :

- in favour of the companies included in the consolidation 113 294

- in favour of third parties -

A4. a) Purchase commitments for fixed assets 45 742

b) Transfer commitments for fixed assets -

A7. a) Commitmentsresulting from interest rates derivatives 141 881

Belgium Germany

Spain France Italy

Austria Netherlands

OpERATING INCOME pER COuNTRIES IN MIllION €

0

50

100

150

200

250

300

EBITDA In mIllIon € nET EArnIng In mIllIon €

32 33

Assets

in ,000 € 2006 2007 2008 2009 2010

FIxED ASSETS 561 644 588 166 592 640 610 764 622 222

I. FORMATION ExpENSES - - - - -

II. INTANGIBlE ASSETS 22 054 20 286 18 588 16 625 14 548

III. TANGIBlE ASSETS 67 476 64 143 68 378 58 256 54 704

a. land and buildings 62 482 58 866 59 107 45 157 41 350

b. plant, machinery and equipment 75 56 198 113 100

c. Furniture and vehicles 675 675 1 075 1 154 1 238

d. leasing and similar rights 1 134 1 029 924 819 713

e. Other tangible assets 3 110 3 517 6 351 9 920 10 873

f. Assets under construction and advance payments - - 723 1 093 430

IV. FINANCIAl ASSETS 472 114 503 737 505 674 535 883 552 970

a. Affiliated enterprises 471 135 502 706 503 100 532 774 549 787

- Participations 471 135 502 706 503 100 532 774 532 774

- Amounts receivable - - - - 17 013

b. Other enterprises linked by participating interests 19 17 16 15 14

- Participations, shares and units 19 17 16 15 14

- Amounts receivable - - - - -

c. Other financial assets 960 1 014 2 558 3 094 3 169

- Shares and units 597 602 610 611 613

- Amounts receivable and cash guarantees 363 412 1 948 2 483 2 556

CuRRENT ASSETS 9 305 7 550 9 800 62 410 39 103

V. AMOuNTS RECEIVABlE AFTER MORE ThAN ONE yEAR - - - - -

b. Other amounts receivable - - - - -

VI. STOCKS ET COMMANDES EN COuRS - - - - -

a. Stocks - - - - -

VII. AMOuNTS RECEIVABlE WIThIN ThE yEAR 6 725 4 920 6 652 57 800 35 052

a. Own shares 4 562 4 034 5 713 4 729 3 762

b. Other investments and deposits 2 163 886 940 53 071 31 290

VIII. TREASuRy INVESTMENTS - - - - -

a. Own shares - - - - -

b. Other investments and deposits - - - - -

Ix. CASh AT BANK AND IN hANDS 1 287 1 504 1 719 1 315 1 279

x. DEFERRED ChARGES AND ACCRuED INCOME 1 293 1 126 1 429 3 295 2 772

ToTal aSSeTS 570 949 595 716 602 440 673 174 661 325

liabilities

in ,000 € 2006 2007 2008 2009 2010

ShARE CApITAl & RESERVES 188 683 201 702 212 181 220 927 229 895

I. ShARE CApITAl 15 885 15 885 15 885 15 885 15 885

II. ShARE pREMIuM ACCOuNT 38 729 38 729 38 729 38 729 38 729

IV. RESERVES 5 860 5 839 5 820 9 530 9 511

a. Legal reserves 1 588 1 589 1 589 1 589 1 588

b. Unavailable reserves 9 9 10 9 9

c. Untaxed reserves 4 262 4 241 4 221 7 932 7 914

V. pROFIT CARRIED FORWARD 128 209 141 249 151 747 156 783 165 633

VI. INVESTMENT GRANTS - - - - 137

pROVISIONS 362 350 300 2 188 2 170

a. Provisions for liabilities and charges 252 251 211 188 179

- Pensions and similar obligations 148 147 107 84 75

- Others 104 104 104 104 104

b. Taxation, including differed taxation 110 99 89 2 000 1 991

lIABIlITIES 381 904 393 664 389 959 450 059 429 260

VIII. AMOuNTS pAyABlE AFTER MORE ThAN ONE yEAR

168 663 158 392 112 812 320 740 313 690

a. Financial debts 166 545 156 295 110 687 314 171 307 364

- Subordinated loans - - - - -

- Unsubordinated debentures - - - - -

- Leasing and other similar obligations 1 590 1 577 1 555 1 531 1 502


- Other loans 128 469 128 469 93 005 299 467 132 800

d. Other amounts payable 2 118 2 097 2 125 6 569 6 326

Ix. AMOuNTS pAyABlE WIThIN ONE yEAR 204 811 225 325 266 992 119 289 107 312

a. Amounts > one year payable within the year 7 444 10 425 45 781 38 864 54 078

b. Financial debts 179 570 208 276 204 056 62 929 34 853


- Other loans 158 285 196 330 201 706 53 104 30 003

c. Trade debts 2 740 3 813 4 364 4 420 4 738

e. Taxation, remuneration and social security 3 042 2 789 2 751 3 060 3 295

- Taxes 1 732 1 498 1 295 1 592 1 835

- Remunerations and social security costs 1 310 1 291 1 456 1 468 1 460

f. Other amounts payable 12 015 22 10 040 10 016 10 348

x. ACCRuED ChARGES AND DEFERRED INCOME 8 430 9 947 10 155 10 030 8 258

ToTal liabiliTieS 570 949 595 716 602 440 673 174 661 325

Balance sheet Interparking s.a.

34 35

in ,000 € 2006 2007 2008 2009 2010

I. OpERATING INCOME 74 887 81 260 88 133 82 158 84 441

a. Turnover 73 432 80 091 87 033 81 051 83 190

d. Other operating income 1 455 1 169 1 100 1 107 1 251

II. OpERATING ChARGES (57 855) (62 589) (68 555) (66 985) (67 264)

a. Raw materials and consumables - - - - -

b. Services and other goods 27 104 30 270 34 210 31 665 33 209

c. Remuneration, social security costs 13 989 14 088 15 530 16 409 16 074

d. Depreciation and other amounts written off on formation expenses, intangible and tangible fixed asset

10 797 11 800 12 087 12 591 12 211

e. Amounts written off stocks contracts in progress and trade debtors

- - 62 118 (201)

f. Provisions for liabilities and charges 64 (1) (40) (23) (9)

g. Other operating charges 5 901 6 432 6 707 6 225 5 980

III. OpERATING pROFIT 17 032 18 671 19 577 15 173 17 177

IV. FINANCIAl INCOME 15 755 14 267 21 933 21 214 21 245

a. Income from financial fixed assets 15 079 13 633 21 438 20 790 19 745

b. Income from current assets 39 182 107 88 1 182

c. Other financial income 637 452 388 336 318

V. FINANCIAl ChARGES (13 349) (18 059) (19 503) (14 165) (18 275)

a. Debt charges 12 955 17 640 19 027 13 684 17 297

b. Amounts written off current assets other than those mentioned under II e.

- - - - -

c. Other financial charges 394 419 476 481 978

VI. CuRRENT INCOME BEFORE TAx 19 438 14 879 22 007 22 222 20 147

in ,000 € 2006 2007 2008 2009 2010

VII. ExTRAORDINARy INCOME 48 112 32 320 587

a. Adjustments to depreciation and to other amounts written off intangible and tangible fixed assets

- - - - -

b. Adjustments to amounts written off financial fixed assets

- - - - -

c. Adjustements to provisions for extraordinary liabilities and charges

- - - - -

d. Capital gains on disposal of fixed assets 48 12 32 320 237

e. Other extraordinary income - 100 - - 350

VIII. ExTRAORDINARy ChARGES (410) (4) (3) (106) (19)

b. Amounts written off financial fixed assets 409 2 1 2 1

c. Provisions for extraordinary liabilities and charges

- - - - -

d. Losses on disposal of fixed assets 1 2 2 - 18

e. Other extraordinary charges - - - 104 -

Ix. pROFIT OR lOSS FOR ThE FINANCIAl yEAR 19 076 14 987 22 036 22 436 20 715

x. 13 11 10 (1 910) 10

a. Withdrawals from taxation period, including differed taxation

13 11 10 10 10

b. Transfers to taxation, including differed taxation - - - (1 920) -

xI. INCOME TAxES (2 655) (1 980) (1 559) (1 771) (1 558)

a. Taxes (2 660) (1 980) (1 559) (1 771) (1 575)

b. Adjustment of income taxes and write back of tax provisions

5 - - - 17

xII. CuRRENT INCOME BEFORE TAx 16 434 13 018 20 487 18 755 19 167

xIII. 24 22 20 (3 711) 18

a. Withdrawals to untaxed reserves 24 22 20 18 18

b. Transfer from untaxed reserves - - - (3 729) -

xIV. pROFIT OR lOSS OF ThE pERIOD 16 458 13 040 20 507 15 044 19 185

profit & loss account Interparking s.a.

Valuation rules• Merger goodwill is depreciated over a 20 year period.• Tangible assets are recorded at their purchase

or cost price.• Annual depreciation is calculated according to

a depreciation plan based on the linear or degressive method.

• Financial assets are valued at purchase price, possibly less write-downs in the case of participations, and at their nominal value in the case of amounts receivable featuring in this section, as well as amounts receivable after more than one year.

• Amounts receivable within the year are valued at their nominal value.Treasury investments are valued at their purchase price.

• Provisions are made for amounts written off where necessary and under the conditions stipulated by law with regard to assets liable to depreciation.

• Amount falling due after more than one year and within one year are classified in terms of their nominal value according to the balances evidenced in the accounts.

• Provisions will be made if necessary.

36 37

Joint statutory auditors’ report

Statutory auditor’s report to the general meeting of shareholders of Interparking SA on the consolidated financial statements for the year ended 31 December 2010

In accordance with legal and statutory requirements, we report to you on the performance of our audit mandate. This report includes our opinion on the consolidated financial statements together with the required additional comment.

unqualified audit opinion on the consolidated financial statementsWe have audited the consolidated financial statements of Interparking SA (“the company”) and its subsidiaries (jointly “the group”) for the year ended 31 December 2010, prepared in accordance with the financial reporting framework applicable in Belgium, which show a balance sheet total of € 736.994.214 and a profit (group share) for the year of € 30.016.354.

The board of directors of the company is responsible for the preparation of the consolidated financial statements. This responsibility includes: designing, implementing and maintaining internal control relevant to the preparation and fair presentation of consolidated financial statements that are free from material misstatement, whether due to fraud or error; selecting and applying appropriate accounting policies; and making accounting estimates that are reasonable in the circumstances.

Our responsibility is to express an opinion on these consolidated financial statements based on our audit. We conducted our audit in accordance with legal requirements and auditing standards applicable in Belgium, as issued by the “Institut des Réviseurs d’Entreprises/Instituut der Bedrijfsrevisoren”. Those standards require that we plan and perform the audit to obtain reasonable assurance whether the consolidated financial statements are free from material misstatement.

In accordance with these standards, we have performed procedures to obtain audit evidence about the amounts and disclosures in the consolidated financial statements. The procedures selected depend on our judgment, including the assessment of the risks of material misstatement of the consolidated financial statements, whether due to fraud or error. In making those risk assessments, we have considered internal control relevant to the company’s preparation and fair presentation of the consolidated financial statements in order to design audit procedures that are appropriate in the circumstances but not for the purpose of expressing an opinion on the effectiveness of the group’s internal control. We have also evaluated the appropriateness of the accounting policies used, the reasonableness of accounting estimates made by the company and the presentation of the consolidated financial statements, taken as a whole. Finally, we have obtained from management and responsible officers of the company the explanations and information necessary for our audit. The financial statements of several entities included in the scope of consolidation which represent total assets of € 68 (million) and a total profit of € 11,7 (million) have been audited by other auditors; we based ourselves upon the reports of those other auditors. We believe that the audit evidence we have obtained, together with the reporting of other auditors on which we have relied provides a reasonable basis for our opinion.

In our opinion, the consolidated financial statements as of 31 December 2010 give a true and fair view of the group’s net worth, financial position and results in accordance with the financial reporting framework applicable in Belgium.

Additional commentThe preparation of the management report on the consolidated financial statements and its content are the responsibility of the board of directors.

Our responsibility is to supplement our report with the following additional comment, which do not modify our audit opinion on the financial statements:

The management report on the consolidated financial statements includes the information required by law and is consistent with the consolidated financial statements. We are, however, unable to comment on the description of the principal risks and uncertainties which the group is facing, and on its financial situation, its foreseeable evolution or the significant influence of certain facts on its future development. We can nevertheless confirm that the matters disclosed do not present any obvious inconsistencies with the information that we became aware of during the performance of our mandate.

Brussels, 1 March 2011

KPMG Réviseurs d’EntreprisesStatutory auditor represented by

Dirk BrecxRéviseur d’Entreprises

Michel LangeRéviseur d’Entreprises

KPMG Réviseurs d’EntreprisesAvenue du Bourget 401130 BrusselsBelgiumTel.: +32 (0)2 708 43 00Fax: +32 (0)2 708 43 99www.kpmg.be

Bossaert Moreau Saman & C°sprlStatutory auditor represented by

Paul MoreauRéviseur d’Entreprises

Bossaert Moreau Saman & C° SPRLChaussée de Waterloo, 7571180 BrusselsBelgiumTel.: +32 (0)2 345 00 78Fax: +32 (0)2 345 76 75

S.A. INTERPARKING N.V.EUROPEAN HEADQUARTERS 1, rue de l’évêque, 1000 Bruxelles, BelgiqueBisschopsstraat, 1, 1000 Brussel, BelgiëT. 32 2 549 58 11 – F. 32 2 511 02 09www.interparking.com

S.A. Interparking N.V. is a 90% subsidiary of AG Real Estatewww.agrealestate.eu

Interparking Annual Report 2010

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Transcript of Interparking Annual Report 2010