Financials - Deutsche EuroShop

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ConSoLIDAteD FInAnCIAL StAteMentS auditor‘s report auditor‘s report We have audited the consolidated financial statements – comprising the balance sheet, statement of comprehensive income, income statement, statement of changes in equity, cash flow statement and the notes – and the group management report prepared by <strong>Deutsche</strong> <strong>EuroShop</strong> AG, Hamburg, for the financial year from 1 January to 31 December 2010. The preparation of the consolidated financial statements and the group management report in accordance with IFRSs as adopted by the EU and the supplementary provisions of German commercial law required to be applied under section 315a(1) of the Handelsgesetzbuch (HGB – German Commercial Code) is the responsibility of the Company’s management. Our responsibility is to express an opinion on the consolidated financial statements and the group management report based on our audit. We conducted our audit of the consolidated financial statements in accordance with section 317 of the HGB and German generally accepted standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the consolidated financial statements in accordance with the applicable financial reporting standards and in the group management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Group and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the consolidated financial statements and the group management report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the annual financial statements of the companies included in the consolidated financial statements, the determination of the companies to be included in the consolidated financial statements, the accounting and consolidation principles used, and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements and the group management report. We believe that our audit provides a reasonable basis for our opinion. Our audit has not led to any reservations. In our opinion, based on the findings of our audit, the consolidated financial statements comply with IFRSs as adopted by the EU and the supplementary provisions of German commercial law required to be applied under section 315a(1) of the HGB and give a true and fair view of the net assets, financial position and results of operations of the Group in accordance with these requirements. The group management report is consistent with the consolidated financial statements, as a whole provides a suitable understanding of the Group’s position and suitably presents the opportunities and risks of future development. Hamburg, 18 April 2012 BDO AG Wirtschaftsprüfungsgesellschaft Dyckerhoff Dr Probst Auditor Auditor 66 Des Annual Report 2011
esponsibility statement by the exeCutive board We declare that to the best of our knowledge, in line with the accounting policies to be applied, the consolidated financial statements present a true and fair view of the net assets, financial position and results of operations of the Group and the Group Management Report presents the situation of the Group and the course of business including business performance which is a fair and accurate view, and describes the essential opportunities and risks of the likely development of the Group. Hamburg, 17 April 2012 Claus-Matthias Böge Olaf Borkers Des Annual Report 2011 67
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AnnuAl RepoRt 11 FinAnciAls €190
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Business and Economic Conditions 5
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usiness and eConomiC Conditions OpE
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Ancillary benefits include the prov
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Based on calculations from Jones La
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Revenue € thousand 2011 2010 Chan
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funds from operations (ffo) up by o
Page 15 and 16: liquidity analysis: Cash flow signi
Page 17 and 18: 0 5 10 15 20 25 30 Net asset value
Page 19 and 20: FINaNCIal STaTEMENT pREpaRaTION pRO
Page 21 and 22: Currency risk Deutsche EuroShop AG
Page 23 and 24: switch to equity method accounting
Page 25 and 26: Consolidated finanCial statements 2
Page 27 and 28: EquITY aND lIaBIlITIES in € thous
Page 29 and 30: Consolidated statement of Comprehen
Page 31 and 32: statement of Changes in eQuity in
Page 33 and 34: The consolidated financial statemen
Page 35 and 36: CurrenCy translation The Group curr
Page 37 and 38: FuNDS FROM OpERaTIONS (FFO) in €
Page 39 and 40: On the basis of the expert appraisa
Page 41 and 42: 8. OThER lIaBIlITIES Other liabilit
Page 43 and 44: 3. INvESTMENT pROpERTIES Investment
Page 45 and 46: 8. OThER CuRRENT aSSETS in € thou
Page 47 and 48: 2011 in € thousand Before taxes T
Page 49 and 50: 16. OThER CuRRENT lIaBIlITIES in
Page 51 and 52: 21. OThER OpERaTING INCOME in € t
Page 53 and 54: Tax RECONCIlIaTION Income taxes in
Page 55 and 56: segment reporting As a holding comp
Page 57 and 58: Fair value recognised in income fai
Page 59 and 60: Capital management The Group‘s ca
Page 61 and 62: other disClosures An average of fiv
Page 63 and 64: elated parties for the purposes of
Page 65: anteilsbesitZ Company name and domi
Page 69 and 70: Claus-Matthias Böge Born 13 Februa
Page 71 and 72: Corporate Governance Code in accord
Page 73 and 74: At the third meeting on 22 Septembe
Page 75 and 76: Dr jörn Kreke Dr jörn Kreke alexa
Page 77 and 78: Food Court Catering area of a shopp
Page 79 and 80: multi-year- overview in € million
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Financials - Deutsche EuroShop

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