pdf (2.5 MB) - METRO Group

METRO GROUP : ANNUAL REPORT 2010 : BUSINESS
→ NOTES : OThER NOTES
Consumer electronics retail
Media Markt and Saturn offers a comprehensive assortment
including the latest brand products. With its two
strong brands, the sales division is now represented in 17
countries.
Department stores
Galeria Kaufhof operates department stores in Germany
and Belgium. In Belgium, the sales division operates under
the name Galeria Inno. Galeria’s department stores offer
high-quality assortments with a focus on textiles.
Real Estate
METRO Group Asset Management manages METRO GROuP’s
real estate assets in 30 countries. Its responsibilities
include, among other things, actively increasing the portfolio
value, developing new stores and branches as well as
managing existing locations.
Additional information on the segments is provided in the
management report.
Aside from the information on the operating segments
listed above, equivalent information is provided on the
Metro regions. here, a distinction is made between the
regions Germany, Western Europe excluding Germany,
Eastern Europe and Asia/Africa.
→ External sales represent sales of the operating segments
to third parties outside the Group.
→ Internal sales represent sales between the Group’s
operating segments.
→ Segment EBITdAR represents EBITdA before rental
expenses less rental income.
→ Segment EBITdA comprises EBIT before write-downs
and write-ups on tangible and intangible assets.
→ EBIT as the key ratio for segment reporting describes
operating earnings for the period before net financial
income and income taxes. Intra-Group rental contracts
are shown as operating leases in the segments. The
properties are leased at market rates. In principle, location
risks and recoverability risks related to non-current
assets are only shown in the segments when they represent
Group risks.
→ Segment investments include additions to assets
adjusted for additions due to the reclassification of
→ p. 201
“assets held for sale” as fixed assets. Additions to noncurrent
financial assets represent another exception.
→ Segment assets include non-current and current assets.
They do not include mostly financial assets according to
the balance sheet, income tax items, cash and assets
allocable to discontinued operations.
→ Segment liabilities include non-current and current
liabilities. They do not include, in particular, financial
liabilities according to the balance sheet, income tax
items and liabilities allocable to discontinued operations.
→ In principle, transfers between segments are made
based on the costs incurred from the Group’s perspective.
→ discontinued operations in 2009 include the figures
relating to the Adler fashion stores.
Reconciliation statement
€ million 31/12/2010
Segment assets 28,064
Non-current and current financial assets 251
Cash and cash equivalents 4,799
deferred taxes 1,000
Entitlements to income tax refunds 412
Other entitlements to tax refunds 1 356
Receivables from other financial transactions 2 108
Other 77
Group assets 35,067
Segment liabilities 19,031
Non-current and current financial liabilities 8,283
deferred taxes 212
Income tax liabilities 291
Income tax provisions 3 147
Other tax liabilities 4 535
liabilities from other financial transactions 4 41
liabilities to third parties 4 30
Other 37
Group liabilities 28,607
1 Included in balance sheet item “other receivables and assets” (current)
2 Included in balance sheet items “other receivables and assets” (non-current and current)
3 Included in balance sheet items “other provisions” (non-current) and “provisions” (current)
4 Included in balance sheet item “other liabilities” (non-current and current)