Praktiker Bau- und Heimwerkmärkte Holding AG, Kirkel
Praktiker Bau- und Heimwerkmärkte Holding AG, Kirkel
Praktiker Bau- und Heimwerkmärkte Holding AG, Kirkel
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<strong>Praktiker</strong> <strong>Bau</strong>- <strong>und</strong> Heimwerkermärkte <strong>Holding</strong> <strong>AG</strong><br />
Management report for the fiscal year 2007<br />
Preamble<br />
Page 2<br />
<strong>Praktiker</strong> <strong>Bau</strong>- <strong>und</strong> Heimwerkermärkte <strong>Holding</strong> <strong>AG</strong> (hereinafter termed: “<strong>Praktiker</strong> <strong>Holding</strong> <strong>AG</strong>”), with<br />
its registered office based in <strong>Kirkel</strong> (Saarland), is the parent company of <strong>Praktiker</strong> Group and Max<br />
Bahr Holzhandlung GmbH <strong>und</strong> Co. KG (Max Bahr). In Germany, the group operates 337 do-it-yourself<br />
markets, which are specifically tailored to meet the needs of retail customers, offering a full range of<br />
products for building and renovation, gardening and leisure as well as for home repairs and improvement.<br />
Apart from its Germany-based operations, the group is represented in eight further European<br />
countries. In the fiscal year 2007, the company was able to increase the number of stores located<br />
abroad still further. As such, the International division added 15 new outlets to its existing portfolio to a<br />
total of 88 stores, whereby the focus of expansion was on the strong-growth countries of Eastern Europe.<br />
Financial statements for the fiscal year from January 1, 2007 to December<br />
31, 2007<br />
In its balance sheet with effect of December 31, 2007, <strong>Praktiker</strong> <strong>Bau</strong>- <strong>und</strong> Heimwerkermärkte <strong>Holding</strong><br />
<strong>AG</strong> reports total assets of 1,268.6 million euros (previous year: 1,270.5 million euros).<br />
The rise in tangible assets of 215.8 million euros results primarily from the acquisition of Max Bahr and<br />
the associated recognition of additional financial assets amounting to 215.0 million euros.<br />
Due to the payment of the purchase price from cash pool f<strong>und</strong>s, the above-mentioned acquisition also<br />
lead to a decline in receivables vis-à-vis associated companies amounting to 214.5 million euros and,<br />
as such, was largely responsible for the sharp fall in current assets.<br />
With net profit for the fiscal year 2007 of 27.5 million euros and dividend payments to shareholders<br />
amounting to 26.1 million euros, equity capital rose by a total of 1.4 million euros to 1,088.3 million<br />
euros. Due to the decline in total assets and the rise in balance sheet profits, the equity ratio improved<br />
to 85.8 percent (previous year: 85.5 percent).<br />
The group’s income position reflects above all general administrative costs (34.3 million euros; previous<br />
year: 10.9 million euros), other operating income (31.7 million euros; previous year: 3.4 million<br />
euros) and net financial income (30.0 million euros; previous year: 36.8 million euros).
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