pdf (22.8 MB) - METRO Group

METRO GROUP : ANNUAL REPORT 2011 : BUSINESS
→ GROUP MANAGEMENT REPORT : 3. EARNiNGs POsiTiON
Balance sheet profit of METRO Ag and profit
appropriation in accordance with german
commercial law
MeTRo aG’s annual financial statements prepared under
German commercial law serve as the basis for dividend distribution.
The income statement and balance sheet of
MeTRo aG prepared in accordance with the German Commercial
Code (HGB) are as follows:
income statement for the financial year from
1 January to 31 December 2011 prepared under
the german Commercial Code (hgB)
€ million 2010 2011
Investment income 920 956
Financial result –178 –125
other operating income 305 553
personnel expenses
Depreciation/amortisation on intangible and
–154 –137
tangible assets –38 –66
other operating expenses –292 –458
NOPAT 563 723
extraordinary result –31 0
Income taxes –36 –26
other taxes –4 1
Net income 492 698
profit carried forward from the previous year 24 14
additions to revenue reserves –60 –250
Balance sheet profit 456 462
Balance sheet profit of METRO Ag and profit appropriation
For the financial year 2011, MeTRo aG posted investment
income of €956 million, compared with €920 million in the
previous year.
In consideration of other income, expenses and taxes as well
as the transfer of €250 million to revenue reserves, the Company
reported a balance sheet profit of €462 million compared
with €456 million in 2010.
The Management Board of MeTRo aG will propose to the
annual General Meeting that, from the reported balance
sheet profit of €462 million, a dividend of €442 million be paid
→ p. 106
and that the balance of €20 million be carried forward to the
new account. The balance sheet profit of €462 million
includes retained earnings of €14 million. The dividend proposed
by the Management Board amounts to
→ €1.350 per ordinary share and
→ €1.485 per preference share.
Balance sheet as at 31 December 2011
Assets
€ million
Fixed assets
31/12/2010 31/12/2011
Intangible assets 148 84
Tangible assets 5 4
Financial assets 7,921 8,660
Current assets
8,074 8,748
Receivables and other assets 2,829 2,352
Cash on hand, bank deposits and cheques 2,200 914
5,029 3,266
Prepaid expenses and deferred charges 19 15
13,122 12,029
Liabilities
€ million
Equity
31/12/2010 31/12/2011
share capital 835 835
ordinary shares 828 828
preference shares 7 7
(Contingent capital) (128) (128)
Capital reserve 2,558 2,558
Reserves retained from earnings 1,727 1,977
Balance sheet profit 456 462
5,576 5,832
Provisions 371 374
Liabilities 7,173 5,815
Deferred income 2 8
13,122 12,029