Hornbach-Baumarkt-AG Group

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Notes on the Consolidated Balance Sheet 121
The impairment losses included in depreciation relate to assets whose carrying amounts exceed their recoverable
amounts. These impairment losses have been recognized under other expenses from non-operating
activities.
In the 2012/2013 financial year, impairment losses of € 514k were recognized for items of investment property,
which were written down to their net sale prices (2011/2012: € 0k). The net sale prices of these assets
were determined by reference to current value surveys and to purchase offers.
In the previous year, it was not possible to uphold the expectations in terms of the medium-term sales and
earnings performance of the Romania region. The impairment test performed as a result led to the recognition
of impairment losses pursuant to IAS 36.105 in conjunction with IAS 36.104 on marketing-oriented and sales
promotional plant and office equipment, which were written down by € 1,704k to a value of zero in the
2011/2012 financial year.
Impairment losses are included in non-current asset items as follows:
2012/2013 2011/2012
DIY stores segment
Other equipment, plant, and office equipment 0 1,704
0 1,704
Real estate segment
Land 514 0
514 0
Total 514 1,704
No write-ups were recognized in the 2012/2013 financial year (2011/2012: € 1,196k). The write-ups recognized
in the previous year related to the appreciation in value on pieces of land not used for operations, or
originally intended for DIY store extensions, for which impairment losses had been recognized in previous
years. The write-ups were based on purchase offers and agreed sale contracts and were recognized under
other income from non-operating activities in the real estate segment.
The reclassifications from reserve land to non-current assets held for sale relate to three pieces of land not
used for operations, of which one piece of land was already sold in the 2012/2013 financial year.
Reference is made to Note 7 with regard to capitalized financing costs.
The real estate assets are predominantly owned by HORNBACH-Baumarkt-AG and by real estate companies
established for this purpose.