Richemont is one of the world's leading luxury - Alle jaarverslagen

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Consolidated balance sheetat 31 March2009 2008re-presentedNotes € m € mAssetsNon-current assetsProperty, plant and equipment 7 1 148 975Intangible assets 8 386 232Investments in associated undertakings 9 14 3 008Deferred income tax assets 10 305 257Financial assets held at fair value through profit or loss 11 143 68Other non-current assets 12 180 1742 176 4 714Current assetsInventories 13 2 422 2 076Trade and other receivables 14 672 641Derivative financial instruments 15 18 72Prepayments and accrued income 80 108Assets of disposal groups held for sale 27 11 –Cash at bank and on hand 16 2 032 2 0945 235 4 991Total assets 7 411 9 705Equity and liabilitiesEquityShare capital 17 334 334Participation reserve 17 – 645Treasury shares 17 (195) (268)Hedge and share option reserves 17 90 176Cumulative translation adjustment reserve 124 (348)Retained earnings 4 479 7 076Total shareholders’ equity 4 832 7 615Minority interest 3 4Total equity 4 835 7 619LiabilitiesNon-current liabilitiesBorrowings 18 77 246Deferred income tax liabilities 10 78 59Retirement benefit obligations 20 39 42Provisions 21 40 52Other long-term liabilities 34 15268 414Current liabilitiesTrade and other payables 22 545 563Current income tax liabilities 172 188Borrowings 18 188 12Derivative financial instruments 15 123 8Provisions 21 117 95Accruals and deferred income 218 216Short-term loans 18 276 267Bank overdrafts 16 669 3232 308 1 672Total liabilities 2 576 2 086Total equity and liabilities 7 411 9 705The notes on pages 60 to 106 are an integral part of these consolidated financial statements.56 Richemont Annual Report and Accounts 2009Consolidated financial statements
Consolidated income statementfor the year ended 31 March2009 2008re-presentedNotes € m € mContinuing operationsSales 6 5 418 5 290Cost of sales (1 988) (1 875)Gross profit 3 430 3 415Selling and distribution expenses (1 235) (1 177)Communication expenses (644) (608)Administrative expenses (542) (522)Other operating (expense)/income 23 (27) 10Operating profit 982 1 118Finance costs 26 (228) (114)Finance income 26 127 161Share of post-tax profit of associated undertakings 9 3 1Profit before taxation 884 1 166Taxation 10 (133) (194)Profit from continuing operations 24 751 972Discontinued operationsProfit from discontinued operations (net of tax) 27 325 592Net profit 1 076 1 564Attributable to:Shareholders 1 075 1 565Minority interest 1 (1)1 076 1 564Earnings per share for profit and profit from discontinued operations attributableto shareholders during the year (expressed in € per share)Basic:– from continuing operations 28 1.340 1.734– from discontinued operations 28 0.581 1.0551.921 2.789Diluted:– from continuing operations 28 1.337 1.710– from discontinued operations 28 0.579 1.040The notes on pages 60 to 106 are an integral part of these consolidated financial statements.1.916 2.750Richemont Annual Report and Accounts 2009 57Consolidated financial statements
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Financial and operating highlights
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BUSINESS DEVELOPMENTWhilst the year
Page 8 and 9: JewelleryMaisonsKey resultsSales (
Page 10 and 11: Exceptional client service remains
Page 12 and 13: SpecialistWatchmakersKey resultsSal
Page 14 and 15: Established 1845Altenberger Strasse
Page 17 and 18: Established 1860Piazza San Giovanni
Page 19 and 20: Established 183050 chemin de la Ch
Page 21 and 22: Established 20078 chemin de Blandon
Page 23 and 24: Established 1906Hellgrundweg 100Ham
Page 27 and 28: OtherBusinessesKey resultsSales (
Page 29 and 30: Established 19837 rue de MoussyPari
Page 32 and 33: Financial reviewRICHARD LEPEU, GROU
Page 34 and 35: Sales and operating results by busi
Page 36 and 37: Sales by distribution channelin €
Page 38 and 39: Summarised balance sheetin € mill
Page 40 and 41: Corporate responsibilityRichemont h
Page 42 and 43: Corporate governanceGENERAL PRINCIP
Page 44 and 45: on page 103. The operating expense
Page 46 and 47: Board of directors of Compagnie Fin
Page 48 and 49: Board of directors of Compagnie Fin
Page 50 and 51: Group Management CommitteeJohann Ru
Page 52 and 53: Continued from page 47The executive
Page 54 and 55: Salary and other short-term benefit
Page 56 and 57: No specific provisions exist in the
Page 60 and 61: Consolidated statement of changes i
Page 62 and 63: Notes to the consolidated financial
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Notes to the consolidated financial
Page 110 and 111:
Company financial statementsCompagn
Page 112 and 113:
Compagnie Financière Richemont SAN
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Compagnie Financière Richemont SAR
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Five year record continuedConsolida
Page 118 and 119:
Notice of meetingThe Annual General
Page 120:
www.richemont.com
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Richemont is one of the world's leading luxury - Alle jaarverslagen

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