Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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138 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 14. Net results by valuation category Net results by valuation category – Fiscal year 2009/10 Income/expense from Fair Value measurement (in EUR m) Impairment (in EUR m) Interest income (in EUR m) Interest expense (in EUR m) Net profit/loss (in EUR m) Financial instruments: Held-for-trading 0.0 0.0 0.0 0.0 0.0 Financial instruments: Held-to-maturity 0.0 0.0 0.0 0.0 0.0 Available-for-sale financial assets 0.0 0.0 0.0 0.0 0.0 Loans and receivables 0.0 −1.3 3.0 −9.6 −7.9 Liabilities measured at Fair Value −0.1 0.0 0.0 0.0 −0.1 Minority options 0.0 0.0 0.0 −1.9 −1.9 Net profit by measurement category −0.1 −1.3 3.0 −11.5 −9.9 Income/expenses, not included in the interest result Interest income/expenses of assets, which are not financial instruments 0.0 1.3 0.0 0.0 1.3 0.0 0.0 0.0 −1.9 −1.9 Financial result −0.1 0.0 3.0 −13.4 −10.5 Net results by valuation category – Fiscal year 2008/09 Income/expense from Fair Value measurement (in EUR m) Impairment (in EUR m) Interest income (in EUR m) Interest expense (in EUR m) Net profit/loss (in EUR m) Financial instruments: Held-for-trading 0.0 0.0 0.0 0.0 0.0 Financial instruments: Held-to-maturity 0.0 0.0 0.0 0.0 0.0 Available-for-sale financial assets 0.0 0.0 0.0 0.0 0.0 Loans and receivables 0.0 −0.8 3.2 −10.2 −7.8 Liabilities measured at Fair Value 0.1 0.0 0.0 0.0 0.1 Minority options 0.0 0.0 2.5 −6.0 −3.5 Net profit by measurement category 0.1 −0.8 5.7 −16.2 −11.2 Income/expenses, not included in the interest result 0.0 0.8 0.0 0.0 0.8 Interest income/expenses of assets, which are not financial instruments 0.0 0.0 0.0 −1.8 −1.8 Financial result 0.1 0.0 5.7 −18.0 −12.2 Interest arising from financial instruments is reported in the financial result and dividends under the investment result. Valuation allowances on trade accounts receivable classified to the loans and receivables category are shown under other operating expenses. In the fiscal year under review and in the previous year, neither income or expenses from financial instruments held-for-trading, held-to-maturity nor available-for-sale were incurred.
15. Income taxes Income taxes 2009/10 (in EUR m) 2008/09 (in EUR m) Income taxes 58.5 54.0 National 41.1 41.4 International 17.4 12.6 Deferred taxes −3.4 −12.9 From temporary differences 4.7 −10.6 From loss carryforwards −8.1 −2.3 Total 55.1 41.1 The statutory corporate income tax rate in Germany for the assessment period 2009/10 totaled 15 percent. Including trade tax and the solidarity surcharge, this resulted in taxes totaling 32.0 percent. Deferred taxes for the German Group companies were also generally measured at 32.0 percent (previous year: 32.0 percent). For foreign companies, a countryspecific average tax rate is generally applied. In accordance with current tax provisions, the current imputed corporation tax credits as of December 31, 2006 were stated at Fair Value through profit and loss. As of September 30, 2010 the corporate income tax credit amounted to 9.3 million EUR (previous year: 8.4 million EUR). The corporate income credit is shown in the balance sheet under noncurrent tax receivables. An amount of -0.1 million EUR (previous year: 0.7 million EUR) was recognized directly to equity under a separate component of equity. No deferred tax assets were recognized for tax losses carried forward of individual Group companies totaling 24.5 million EUR (previous year: 27.9 million EUR). Of this amount, none was used in the fiscal year under review (previous year: nil). The reconciliation from the expected tax expense to the effective tax expense is as follows: Tax reconciliation 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 2009/10 2008/09 Earnings before taxes EUR m 131.2 103.9 Consolidated income tax rate (national incl. trade tax) in % 32.0 32.0 Expected tax expense EUR m 42.0 33.2 Impact of different national tax rates EUR m −4.7 −4.3 Non-period tax income/expense EUR m 8.5 1.0 Tax-exempt income EUR m 0.0 −1.8 Non-deductible tax operating expenses EUR m 1.7 3.0 Financial expenses – minority options EUR m 0.6 1.1 Unreported deferred tax assets due to operating losses EUR m 2.1 4.8 Unreported deferred tax assets due to goodwill impairment EUR m 5.4 1.6 Write-ups on deferred taxes/use of unrecognized loss carryforwards EUR m 0.0 0.0 Trade tax (additions/deductions) EUR m 0.5 2.7 Other EUR m −1.0 −0.2 Effective tax expense EUR m 55.1 41.1 139
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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
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cialty retail stores forms a solid
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By relaunching its online presentat
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DIVISIONS CONTENTS 72 Perfumeries 8
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THE WORLD OF BEAUTY First, the good
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Nowy Sa˛ cz, Poland, October 2009
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Natalia Wörner and Michael Michals
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showpiece: “Hilfiger Woman” - a
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Stress-free shopping: Douglas - her
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Established the first-ever Douglas
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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 and 122: Financial statements Facts & figure
Page 123 and 124: NOTES TO THE CONSOLIDATED FINANCIAL
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: 11. Investment result In the previo
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
Page 173 and 174: Expenses for auditor’s fees In ac
Page 175 and 176: Significant shareholdings No. Name
Page 177 and 178: Prof. Dr. Mark Wössner Entrepreneu
Page 179 and 180: FURTHER INFORMATION CONTENTS 176 Ov
Page 181 and 182: Overview of the past several years
Page 183 and 184: Fair Value Amount at which an asset
Page 186: www.douglas.de www.thalia.de · www
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Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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