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

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Consolidated statement of changes in equityfor the year ended 31 MarchMinority TotalEquity attributable to shareholders interest equityCumulativetranslationShareholders’ Treasury Other adjustment Retainedcapital shares reserves reserve earnings TotalNotes € m € m € m € m € m € m € m € mBalance at 31 March 2007 979 (264) 151 113 6 532 7 511 2 7 513Adoption of IAS 38 (amendment) 2.1 – – – – (27) (27) – (27)Balance at 1 April 2007 979 (264) 151 113 6 505 7 484 2 7 486Currency translation adjustments – – – (461) – (461) 3 (458)Cash flow hedges:– net gains 17 – – 31 – – 31 – 31– recycle to income statement 17 – – (13) – – (13) – (13)Net share of expense of associatedundertakings recognised directly in equity 9 – – – – (87) (87) – (87)Tax on items recognised directly in equity 17 – – (24) – – (24) – (24)Net income/(expense) recogniseddirectly in equity – – (6) (461) (87) (554) 3 (551)Net profit/(loss) – – – – 1 565 1 565 (1) 1 564Total recognised income/(expense) – – (6) (461) 1 478 1 011 2 1 013Net share of transactions of associatedundertakings with their equity holders 9 – – – – (173) (173) – (173)Net changes in treasury shares 17 – (4) – – (33) (37) – (37)Employee share option plan 17 – – 31 – – 31 – 31Dividends paid 29 – – – – (701) (701) – (701)Balance at 31 March 2008 979 (268) 176 (348) 7 076 7 615 4 7 619Currency translation adjustments – – – 57 – 57 – 57Cash flow hedges:– net losses 17 – – (41) – – (41) – (41)– recycle to income statement 17 – – (12) – – (12) – (12)Net share of income of associated undertakingsrecognised directly in equity(discontinued operations) 9 – – – – 101 101 – 101Tax on items recognised directly in equity 17 – – (4) – – (4) – (4)Net income/(expense) recogniseddirectly in equity – – (57) 57 101 101 – 101Net profit – – – – 1 075 1 075 1 1 076Total recognised income/(expense) – – (57) 57 1 176 1 176 1 1 177Net share of transactions of associatedundertakings with their equity holders(discontinued operations) 9 – – – – (72) (72) – (72)Net changes in treasury shares 17 – 73 – – (7) 66 – 66Employee share option plan 17 – – (29) – – (29) – (29)Dividends paid 29 – – – – (438) (438) – (438)Minorities acquired in business combinations – – – – – – (2) (2)Partial liquidation of Group (645) – – 415 (3 256) (3 486) – (3 486)Balance at 31 March 2009 334 (195) 90 124 4 479 4 832 3 4 835The notes on pages 60 to 106 are an integral part of these consolidated financial statements.58 Richemont Annual Report and Accounts 2009Consolidated financial statements
Consolidated cash flow statementfor the year ended 31 March2009 2008Notes € m € mCash flows from operating activitiesCash flow generated from operations 30 819 968Interest received 73 82Interest paid (37) (41)Dividends from associated undertaking 343 325Taxation paid (179) (171)Net cash generated from operating activities 1 019 1 163Cash flows from investing activitiesAcquisition of subsidiary undertakings and other businesses, net of cash acquired 32 (126) (145)Acquisition of associated undertakings 9 (3) (1)Acquisition of property, plant and equipment (305) (271)Proceeds from disposal of property, plant and equipment 12 6Acquisition of intangible assets (44) (33)Proceeds from disposal of intangible assets 1 3Acquisition of other non-current assets (59) (44)Proceeds from disposal of other non-current assets 61 88Net cash used in investing activities (463) (397)Cash flows from financing activitiesProceeds from borrowings 108 179Repayment of borrowings (162) (107)Dividends paid (438) (701)Distribution of discontinued operations, net of cash disposed of (351) –Payment for treasury shares (98) (80)Proceeds from sale of treasury shares 14 43Capital element of finance lease payments (5) (3)Net cash used in financing activities (932) (669)Net change in cash and cash equivalents (376) 97Cash and cash equivalents at beginning of year 1 771 1 623Exchange (losses)/gains on cash and cash equivalents (32) 51Cash and cash equivalents at end of year 16 1 363 1 771The notes on pages 60 to 106 are an integral part of these consolidated financial statements.Richemont Annual Report and Accounts 2009 59Consolidated financial statements
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Financial and operating highlights
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BUSINESS DEVELOPMENTWhilst the year
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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
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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 58 and 59: Consolidated balance sheetat 31 Mar
Page 62 and 63: Notes to the consolidated financial
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Company financial statementsCompagn
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Compagnie Financière Richemont SAN
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Compagnie Financière Richemont SAR
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Five year record continuedConsolida
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Notice of meetingThe Annual General
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www.richemont.com
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Richemont is one of the world's leading luxury - Alle jaarverslagen

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