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METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → sTaTeMenT oF THe leGal RepResenTaTIves Statement of the legal representatives → p. 287 To the best of our knowledge, and in accordance with the applicable reporting principles, the consolidated financial statements give a true and fair view of the assets, liabil ities, financial position and profit or loss of the Group, and the Group management report includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportunities and risks associated with the expected development of the Group. 27 February 2012 THe ManaGeMenT BoaRD OLAF KOCh MARK FREsE hEiKO hUTMAChER FRANs w. h. MULLER JOëL sAVEUsE
METRO gROUP : ANNUAL REPORT 2011 : BUsiNEss → aUDIToR’s RepoRT AUDiToR’S RePoRT We have audited the consolidated financial statements prepared by MeTRo aG – comprising the balance sheet, the income statement, the reconciliation from net profit for the period to comprehensive profit, the statement of changes in equity, the cash flow statement and the notes to the consolidated financial statements – together with the Group management report for the financial year from 1 January to 31 December 2011. The preparation of the consolidated financial statements and the Group management report in accordance with IFRs, as adopted by the eU, and the additional requirements of German commercial law pursuant to § 315a section 1 of the German Commercial Code and supplementary provisions of the articles of incorporation are the responsibility of the Company’s management. our responsibility is to express an opinion on the consolidated financial statements and on the Group management report based on our audit. We conducted our audit of the consolidated financial statements in accordance with § 317 of the German Commercial Code and generally accepted German standards for the audit of financial statements promulgated by the Institut der Wirtschaftsprüfer (IDW). Those standards require that we plan and perform the audit such that misstatements materially affecting the presentation of the net assets, financial position and results of operations in the consolidated financial statements in accordance with the applicable financial reporting framework and in the Group management report are detected with reasonable assurance. Knowledge of the business activities and the economic and legal environment of the Group and expectations as to possible misstatements are taken into account in the determination of audit procedures. The effectiveness of the accounting-related internal control system and the evidence supporting the disclosures in the consolidated financial statements and the Group management report are examined primarily on a test basis within the framework of the audit. The audit includes assessing the annual financial statements of those entities included in consolidation, the determination of entities to be included in consolidation, the accounting and consolidation principles used and significant estimates made by management, as well as evaluating the overall presentation of the consolidated financial statements and Group management report. We believe that our audit provides a reasonable basis for our opinion. our audit has not led to any reservations. In our opinion, based on the findings of our audit, the consolidated financial statements comply with IFRs, as adopted by the eU, the additional requirements of German commercial law pursuant to § 315a section 1 of the German Commercial Code and supplementary provisions of the articles of incorporation and give a true and fair view of the net assets, financial position and results of operations of the Group in accordance with these requirements. The Group management report is consistent with the consolidated financial statements and as a whole provides a suitable view of the Group’s position and suitably presents the opportunity and risks of future development. Cologne, 29 February 2012 KPMG AG WIRTsCHaFTspRüFUnGsGesellsCHaFT DR BöTTChER WIRTsCHaFTspRüFeR KLAAssEN WIRTsCHaFTspRüFeR → p. 288
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METRO gROup : ANNuAL REpORT 2011
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sTRATEgy 1 METRO gROUP : ANNUAL REP
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