ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

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Consolidated Financial Statements of SinnerSchrader AGNotes592.19 Research and Development ExpenditureExpenditure for research and development is recorded as an expense in the period in which it is incurred.Development costs that can be activated are an exception if they completely meet the criteria according toIAS 38.57.In 2008/2009, research and development costs in the amount of € 332,817 were recorded as an expense, incomparison to € 46,826 in 2007/2008. In both years, the criteria for the activation of the research and developmentcosts according to IAS 38.57 were not met.2.20 LeasingLeasing payments should be recorded in a linear fashion as an expense in the Statements of Operations overthe term of the leasing contract if they are incurred within an operating leasing relationship where all of therisks remain with the lessor.SinnerSchrader has concluded only operating leasing contracts. They mainly concern automobiles madeavailable as company cars.2.21 Share-based CompensationIFRS 2 calls for costs resulting from the issue of employee options to be entered in the balance sheet on thebasis of their current value with an effect on income. In this connection, the market value of the option on theissue date should be distributed over the waiting period for exercising the option and then proportionatelyentered in the Statements of Operations as personnel costs for the relevant period. The costs are recordedagainst the shareholders’ equity in the reserve for share-based compensation.As of 31 August 2009, there were three stock option plans at SinnerSchrader; their structure and effects on theStatements of Operations will be described in more detail in Section 6.1.2.22 Earnings per ShareSinnerSchrader calculates the earnings per share in agreement with IAS 33. The undiluted earnings per shareare determined on the basis of the weighted average of the outstanding common stock. According to this,treasury stock is not considered in the calculation of the basis for the earnings per share on the date theseshares were bought back.The weighted average of the outstanding shares is increased by the dilution effect from the potential exerciseof outstanding options, calculated according to the Treasury Stock Method, in order to determine the dilutedearnings per share. As part of its employee option programmes of 1999, 2000, and 2007, SinnerSchrader issuedoptions to employees to buy common stock. The outstanding options in the 2008/2009 and 2007/2008 financialyears were considered accordingly in the calculation of the dilution effect.
60NotesConsolidated Financial Statements of SinnerSchrader AG3 SegmentReportingIn the Annual Financial Statements for the 2008/2009 financial year, SinnerSchrader used IFRS 8 for segmentreporting – which is to be used for the first time for financial years starting after 1 January 2009 – ahead of timebecause the management felt that segment reporting in accordance with the management approach was usefulas information for the recipients of the Annual Financial Statements.The changeover from IAS 14 led to the segments Interactive Marketing, Interactive Media, and InteractiveCommerce. The segments are controlled on the basis of the EBITA.• The Interactive Marketing segment develops Internet strategies, handles the customised conception, design,and technical development of websites and Internet applications, the maintenance of content and technologies,performance measurements and optimisation as well as technical operations, including the provision of thetechnical infrastructure for websites and Internet applications.• The Interactive Media segment plans and implements advertising campaigns on the Internet with a focus onperformance-driven display advertising (e.g., banner ads) and provides and measures the performance ofadvertising media (ad serving).• The Interactive Commerce segment accepts overall responsibility for the set-up and management of saleschannels on the Internet, including logistics, payment transactions, and shop management (e-commerceoutsourcing).For the first time in the 2008/2009 financial year, SinnerSchrader included the media business of SinnerSchraderDeutschland GmbH and the subsidiary newtention technologies GmbH acquired in 2008/2009 in the InteractiveMedia segment in its internal and external reporting. next commerce GmbH, which was founded in the currentfinancial year, forms the Interactive Commerce segment, and spot-media AG is included in the InteractiveMarketing segment along with SinnerSchrader Deutschland GmbH without its media business.All of SinnerSchrader’s revenues were earned by Group companies based in Germany. In the InteractiveMarketing segment, net revenues in the amount of € 3,427,000, € 3,863,000, and € 2,623,000 were achievedwith companies from three company groups. The Interactive Media segment achieved net revenues in theamount of € 1,017,000 with companies from one company group.
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Vision Consumers have chosen the In
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ContentsMagazineSinnerSchrader 2008
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4SinnerschraderSinnerSchraderVision
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project: www.rewe-feine-welt.deOnli
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SinnerSchrader 2008 | 2009Letter to
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SinnerSchrader 2008 | 2009Letter to
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SinnerSchrader 2008 | 2009The Share
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Page 37 and 38: 12Corporate Governance SinnerSchrad
Page 39 and 40: 14Report of the Supervisory Board S
Page 41 and 42: Joint StatusReport2008 | 2009
Page 43 and 44: 18Joint Status Report of SinnerSchr
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Page 75 and 76: 48NotesConsolidated Financial State
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Page 113 and 114: 86Statements of OperationsAnnual Fi
Page 115 and 116: 88NotesAnnual Financial Statements
Page 129 and 130: 102Auditors’ OpinionAnnual Financ
Page 131 and 132: 104EVENTS & CONTACTEvents & Contact
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ANNUAL REPORT 2008 | 2009 - SinnerSchrader AG

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