Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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118 Financial statements Facts & figures Consolidated income statement Consolidated balance sheet Statement of changes in Group equity Segment reporting Consolidated Cash Flow statement Notes Notes to the income statement Notes to the balance sheet Auditor’s report CONSOLIDATED CASH FLOW STATEMENT Consolidated Cash Flow statement 10/01/2009 to 09/30/2010 (in EUR m) 10/01/2008 to 09/30/2009 (in EUR m) 1. EBIT 141.7 116.1 2. + Amortization/depreciation of non-current assets 145.2 138.9 3. +/– Increase in provisions −0.7 20.7 4. +/– Other non-cash income/expense −12.9 −4.4 5. +/– Profit/loss on the disposal of non-current assets 2.4 0.0 6. +/– Changes in inventories, trade receivables and other assets not classifiable to investing or financing activities 2.1 7.2 7. +/– Changes in trade payables and other liabilities not classifiable to investing or financing activities 21.9 −8.9 8. – Interest paid −5.6 −15.6 9. + Interest received 1.2 3.6 10. – Taxes paid −49.1 −65.9 11. = Net Cash Flow from operating activities 246.2 191.7 12. + Proceeds from the disposal of non-current assets and disposal of stores 4.5 7.5 13. – Investments in non-current assets −117.3 −111.3 14. – Payments for acquisition and disposal of consolidated companies and other business units −45.2 −3.4 15. = Net Cash Flow for investing activities −158.0 −107.2 16. Free Cash Flow (sum of 11 and 15) 88.2 84.5 17. + Receipts from appropriations to equity 0.6 0.6 18. – Dividends paid to DOUGLAS shareholders −43.3 −43.2 19. – Dividends paid to minority interests −0.2 0.0 20. – Payments for the repayment of financial liabilities −87.1 −93.9 21. + Proceeds from borrowings 61.1 35.7 22. –/+ Other financial changes −3.2 0.7 23. = Net Cash Flow for financing activities −72.1 −100.1 24. = Net change in cash and cash equivalents (total of rows 11, 15 and 23) 16.1 −15.6 25. +/– Net change in cash and cash equivalents due to currency translation 0.5 −0.9 26. + Cash and cash equivalents at beginning of year 36.7 53.2 27. = Cash and cash equivalents as of September 30, 2010 53.3 36.7 28. – Thereof for assets held for sale 1.6 0.0 29. = Cash and cash equivalents for continuing operations as of September 30, 2010 51.7 36.7
NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS OF DOUGLAS HOLDING AG FOR THE FISCAL YEAR 2009/10 1. General principles The consolidated financial statements of the retailing group DOUGLAS HOLDING AG, which is based in Hagen, Germany, and its subsidiaries as of September 30, 2010 have been prepared according to International Financial Reporting Standards (IFRS) of the International Accounting Standards Board (IASB), London, taking into account all mandatory standards and interpretations in effect at the closing date and as adopted by the European Union. The financial statements of the German and foreign subsidiaries included in the consolidated financial statements have been prepared in a uniform manner according to the classification, accounting and measurement principles stipulated by IFRS. Recognition and measurement rules which differ from the uniform group principles have been eliminated by preparing separate trade financial statements (HB II). All figures in the balance sheet and income statement are in millions of euros (EUR m). The prior year’s figures shown are fully comparable to those figures of the reporting year. 2. New IASB accounting standards The consolidated financial statements of DOUGLAS HOLDING AG have been prepared taking into account all published standards and interpretations which have been adopted as part of the European Union (EU) endorsement process and for which application is mandatory for fiscal year 2009/10. Earlier application of the new standards in the accompanying consolidated financial statements was not conducted by the Group, except for the amendments to IAS 36 and IFRS 8 made as part of the Improvement Project for 2009. In comparison with the consolidated financial statements as of September 30, 2009, the following standards and interpretations have been revised and/or are mandatory for the first time: IFRS 1 “First Time Adoption of International Financial Reporting Standards” and IAS 27 “Consolidated and Separate Financial Statements” These amendments, which were issued in May 2008, contain rules with respect to acquisition costs incurred for joint ventures and associated companies and are be applied for annual periods beginning on or after January 1, 2009. The EU Commission recognized this amendment in January 2009 as part of the Endorsement proceedings. Financial statements Facts & figures Consolidated income statement Consolidated balance sheet Statement of changes in Group equity Segment reporting Consolidated Cash Flow statement Notes Notes to the income statement Notes to the balance sheet Auditor’s report 119
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Annual Report 2009/10 Excellence in
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U3 DOUGLAS HOLDING AG 1 DOUGLAS HOL
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MISSION STATEMENT DOUGLAS HOLDING A
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to within the foreseeable future. A
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CORPORATE GOVERNANCE DOUGLAS HOLDIN
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167 168 component of the Chief Huma
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Dr. Dr. h.c. Jörn Kreke, Chairman
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Fig. 3 Fig. 2 · Maximum and minimu
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from Executive Board speeches as we
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IMPRESSIONS October 2009 With Dougl
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June 2010 Hussel pilots a “new wo
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DOUGLAS HOLDING AG 19 Mission State
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Valued for their reading tips: Mari
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seminar at the Zeppelin University
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DOUGLAS HOLDING AG Mission Statemen
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MANAGEMENT REPORT CONTENTS Manageme
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KEY RESULTS IN THE 2009/10 FISCAL Y
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All five retailing divisions combin
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Fig. 1 · Targets and results Targe
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ahead at the positive economic outl
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In the fiscal year, Douglas opened
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The operating earnings in the Books
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Fig. 6 · Development of capital ex
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lining, which had a liquidity effec
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DOUGLAS HOLDING AG The DOUGLAS HOLD
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INTERNAL CONTROL SYSTEM AND KEY SUC
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DVA calculation Based on the premis
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Fig. 14 · Employees by division Ch
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development of highly qualified emp
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Corporate responsibility is also an
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“La Margerita” in organic quali
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Information technology opportunitie
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The data transferred is then automa
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The existing risks both as individu
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in most industrial countries, the s
Page 71 and 72: cialty retail stores forms a solid
Page 73 and 74: By relaunching its online presentat
Page 75 and 76: DIVISIONS CONTENTS 72 Perfumeries 8
Page 77 and 78: THE WORLD OF BEAUTY First, the good
Page 79 and 80: Nowy Sa˛ cz, Poland, October 2009
Page 81 and 82: Natalia Wörner and Michael Michals
Page 83 and 84: showpiece: “Hilfiger Woman” - a
Page 85 and 86: Stress-free shopping: Douglas - her
Page 87 and 88: Established the first-ever Douglas
Page 89 and 90: Austria’s first multi-channel boo
Page 91 and 92: Divisions Thalia · Books 87 Tradit
Page 93 and 94: Thalia in Figures employees, who su
Page 95 and 96: Capturing the imaginations of Dortm
Page 97 and 98: Pear shape Round brilliant shape Pr
Page 99 and 100: Nadia Iram Christ, Frankfurt (Zeil)
Page 101 and 102: Christ: more than ever before. Empl
Page 103 and 104: FASHIONS, TOP BRANDS, MULTI-CHANNEL
Page 105 and 106: Whether her style is casual or clas
Page 107 and 108: merchandising program, enabling App
Page 109 and 110: During the 2009/10 financial year H
Page 111 and 112: Impeccably showcased products: the
Page 113 and 114: Hussel in Figures Aschaffenburg is
Page 115 and 116: FINANCIAL STATEMENTS CONTENTS 112 F
Page 117 and 118: CONSOLIDATED INCOME STATEMENT for t
Page 119 and 120: STATEMENT OF CHANGES IN GROUP EQUIT
Page 121: Financial statements Facts & figure
Page 125 and 126: IAS 23 “Borrowing Costs” In Mar
Page 127 and 128: public sector have been expanded. T
Page 129 and 130: Group of Consolidated Companies Ger
Page 131 and 132: At-equity consolidation 09/30/2010
Page 133 and 134: 5. Accounting and valuation princip
Page 135 and 136: Financial assets denominated in a f
Page 137 and 138: issued for speculative purposes. De
Page 139 and 140: NOTES TO THE INCOME STATEMENT 6. Sa
Page 141 and 142: 11. Investment result In the previo
Page 143 and 144: 15. Income taxes Income taxes 2009/
Page 145 and 146: Intangible assets - Fiscal year 200
Page 147 and 148: Property, plant and equipment - Fis
Page 149 and 150: Finance leases As of the balance sh
Page 151 and 152: Carrying amounts of goodwill and in
Page 153 and 154: accounts. The write-downs on trade
Page 155 and 156: 23. Assets and liabilities held for
Page 157 and 158: of the fiscal year, which are then
Page 159 and 160: essary information, this plan is qu
Page 161 and 162: Statement of changes in current pro
Page 163 and 164: Cash and cash equivalents are compr
Page 165 and 166: 31. Fair Values of financial instru
Page 167 and 168: All financial liabilities existing
Page 169 and 170: Financial liabilities In the 2006/0
Page 171 and 172: There were no receivables from rela
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Expenses for auditor’s fees In ac
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Significant shareholdings No. Name
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Prof. Dr. Mark Wössner Entrepreneu
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FURTHER INFORMATION CONTENTS 176 Ov
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Overview of the past several years
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Fair Value Amount at which an asset
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www.douglas.de www.thalia.de · www
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