pdf (2.5 MB) - METRO Group
pdf (2.5 MB) - METRO Group
pdf (2.5 MB) - METRO Group
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<strong>METRO</strong> GROUP : ANNUAL REPORT 2010 : BUSINESS<br />
→ NOTES : NOTES TO ThE BAl ANCE ShEET<br />
Other real estate obligations in the amount of €20 million<br />
(previous year: €34 million) stem essentially from maintenance<br />
obligations.<br />
Significant components of the obligations from merchandise<br />
trading are provisions for rebates from the Payback<br />
programme in the amount of €78 million (previous year: €85<br />
million) as well as provisions for guarantee services in the<br />
amount of €53 million (previous year: €54 million).<br />
The other provisions item contains mainly litigation costs/risks<br />
in the amount of €35 million (previous year: €40 million), gratuity<br />
commitments of €18 million (previous year: €9 million) as<br />
well as surety and guarantee risks of €12 million (previous<br />
year: €4 million). Provisions for share-based remuneration<br />
amount to €60 million (previous year: €13 million). Supplementary<br />
explanations on share-based remuneration are provided<br />
in no. 49 “Share-based compensation for executives”.<br />
In the context of the decision to dispose of the french consumer<br />
electronics stores, provisions of €53 million were<br />
reclassified to the item “liabilities related to assets held for<br />
sale”. The reclassification is shown as a transfer.<br />
34. Liabilities<br />
€ million<br />
→ p. 191<br />
35. Trade liabilities<br />
The increase in trade payables is due to positive currency<br />
effects and to the expansion of the international business of<br />
the sales divisions Media Markt and Saturn and Metro<br />
Cash & Carry. This is netted against the reclassification of<br />
liabilities to the item “liabilities related to assets held for<br />
sale” in connection with the agreed disposal of the consumer<br />
electronics stores in france and the disposal of liabilities<br />
from the sale of Metro Cash & Carry in Morocco.<br />
36. Financial liabilities<br />
A “debt Issuance Programme” provides long-term financing.<br />
The following transactions were carried out under this<br />
programme in 2010:<br />
Type of<br />
transaction<br />
New issue<br />
31/12/2010<br />
Total<br />
Remaining term<br />
Up to<br />
1 year<br />
1 to<br />
5 years<br />
Over<br />
5 years<br />
31/12/2009<br />
Total 1<br />
1/1/2009<br />
Total 2<br />
Trade payables 14,393 14,393 0 0 14,174 14,125<br />
thereof bills of exchange (non-interest-bearing) (617) (617) (0) (0) (507) (584)<br />
Bonds 4,615 1,253 2,615 747 4,037 3,836<br />
due to banks 1,211 375 621 215 1,214 1,533<br />
Promissory note loans 868 12 856 0 867 707<br />
liabilities from finance leases 1,589 110 471 1,008 1,609 1,819<br />
Financial liabilities 8,283 1,750 4,563 1,970 7,727 7,895<br />
Other tax liabilities 535 535 0 0 522 585<br />
Prepayments received on orders 40 40 0 0 36 32<br />
Payroll 927 925 2 0 850 862<br />
liabilities from other financial transactions 41 38 3 0 51 38<br />
deferred liabilities 438 154 242 42 407 313<br />
Miscellaneous liabilities 1,234 766 447 21 1,001 953<br />
Other liabilities 3,215 2,458 694 63 2,867 2,783<br />
Income tax liabilities 291 291 0 0 265 266<br />
1 Adjustment due to revised disclosure<br />
2 Adjustment due to first-time adoption of new IfRS in the financial year 2009 as well as revised disclosure<br />
Date of<br />
issue Maturity<br />
february<br />
2010 7 years<br />
Redemption September<br />
2006 4 years<br />
Maturity<br />
date<br />
february<br />
2017<br />
September<br />
2010<br />
Nominal<br />
volume Coupon<br />
€750<br />
million<br />
4.250%<br />
fixed<br />
€200<br />
million variable<br />
26,182 18,892 5,257 2,033 25,033 25,069
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