Hornbach-Baumarkt-AG Group

140 NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS Other Disclosures
Other Disclosures
(28) Guarantees and other commitments
As in the previous year, there were no guarantees or other commitments as of February 28, 2013.
(29) Other financial obligations and contingent assets
€ million Maturities 2.28.2013
Current Non-current Non-current Total
< 1 year 1-5 years > 5 years
Purchase obligations for investments 52.5 0.0 0.0 52.5
Obligations under rental, leasehold and
leasing contracts 151.4 527.2 446.5 1,125.0
Other financial obligations 10.0 0.6 0.0 10.6
213.9 527.8 446.5 1,188.2
€ million Maturities 2.29.2012
Current Non-current Non-current Total
< 1 year 1-5 years > 5 years
Purchase obligations for investments 54.8 0.0 0.0 54.8
Obligations under rental, leasehold and
leasing contracts 145.4 496.5 480.9 1,122.8
Other financial obligations 10.5 0.5 0.0 11.0
210.7 497.0 480.9 1,188.6
HORNBACH-Baumarkt-AG draws on the services of various temporary employment agencies to offset seasonal
and sickness-related personnel requirements. Some of the service providers drawn on in the past were
organized within the Christian Trade Unions for Temporary Employment and Temporary Employment Agencies
Payment Association (CGZP), whose eligibility to negotiate collective payment agreements was not recognized
in a verdict passed by the Federal Labor Court (BAG) on December 14, 2010. As a result, HORNBACH-
Baumarkt-AG is exposed to a low risk of having recourse claims asserted against it in the event of insolvency
at the relevant temporary employment agencies. These claims would correspond to that portion of the social
security contributions not covered by statutory limitation, amounting to a maximum of € 0.9 million.
HORNBACH-Baumarkt-AG agreed a credit line of up to € 50 million with HORNBACH Immobilien AG within the
framework of its expansion strategy. The agreement has a term running up to and including June 26, 2013.
No funds had been drawn down as of the balance sheet date on February 28, 2013.
The obligations resulting from rental, hiring, leasehold and leasing contracts relate exclusively to those
rental contracts in which the companies of the HORNBACH-Baumarkt-AG Group do not constitute the economic
owners of the rented assets pursuant to IFRS regulations (operating leases). Rental agreements
mainly relate to DIY stores in Germany and abroad. The terms of the rental agreements range from 15 to 20
years, with subsequent rental extension options and purchase options at market value. The agreements
include rent adjustment clauses.