Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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146 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 experience values as well as external macroeconomic data. The forecasts are developed on the basis of actual past values and take into account an additional rise in profitability for individual foreign Perfumery companies from the increase in the share of private and exclusive labels. The forecasts are based on a detailed forecast period of ten years, which corresponds to the companies’ standardized forecasting system, and a subsequent constant perpetual annuity. The calculations are based on a risk-adjusted growth rate of between 0 and 1 percent (previous year: 0 to 2 percent) before adjustments for future market saturation effects depending on the expected ROCE. For discounting purposes, an interest rate is applied of between 7.5 and 11.0 percent before taxes (prior year: 9 to 13 percent). Material goodwill amounts exist for Douglas France, Thalia Holding and the Buch und Kunst Group. A write-down requirement for Thalia Holding and the Buch und Kunst Group following the change in key planning assumptions is not currently thought to be possible. Impairment testing applied to goodwill led to write-downs totaling 16.5 million EUR for the fiscal year under review (previous year: 5.7 million EUR). Of which, 7.0 million EUR relates to the operating segment in Spain, 4.6 million Euro to the operating segment in France, 3.1 million Euro to the operating segment in Croatia and 1.8 million Euro to the operating segment in Lithuania. The write-downs mainly arose from the economically strained situation in the aforementioned countries and to falling consumer spending. All goodwill of these cash-generating units are attributable to the Perfumeries Division. The write-downs arose on the basis of the budget forecasts for the coming years as part of the impairment testing. The total impairment needs for this cash-generating unit was deducted from the existing goodwill amount. The ramaining amounts equal the value in use per cash-generating unit. In addition to the impairment tests, a sensitivity analysis was performed. Based on a lower growth rate of 0.5 percent and a declining gross profit ratio by 0.5 percentage points, an additional write-down amount would arise in the amount of 16.7 million Euro and 11.5 million Euro, respectively, for Douglas France. In respect of Croatia and Lithuania and based on the same sensitivity parameters, a write-down amount of 2.6 and 1.4 million Euro, respectively, and 0.0 million Euro and 0.0 million Euro for Lithuania would arise. Location advantages associated with the leasehold interests that were purchased from the prior tenant are capitalized under intangible assets with indefinite useful lives. The useful life of these assets is independent of the term of the rental agreement. In addition, the Internet domains of buch.de internetstores AG and buch.ch AG have been capitalized. Material items of goodwill and intangible assets with indefinite lives existed as of the balance sheet date for the following cash-generating units:
Carrying amounts of goodwill and intangible assets with indefinite lives as of the balance sheet date for the following cash generating units Company Goodwill: Individual financial statements (in EUR m) 09/30/2010 09/30/2009 Goodwill: capital consolidation (in EUR m) Intangible assets with indefinite useful lives (in EUR m) Goodwill: Individual financial statements (in EUR m) Goodwill: capital consolidation (in EUR m) Financial statements Intangible assets with indefinite useful lives (in EUR m) Parfümerie Douglas Deutschland GmbH, Hagen 5.2 6.5 5.2 6.6 HELA Kosmetik Handels GmbH & Co. Parfümerie KG, Hagen 4.1 4.1 Parfümerie Douglas Ges.m.b.H., Vienna 2.4 2.4 Parfumerie Douglas France S.A., Lille 21.1 26.6 11.9 22.4 30.4 13.7 Douglas Spain S.A., Madrid 0.0 13.9 Profumerie Douglas S.P.A., Bologna 4.8 4.8 Douglas Portugal Lda., Lisbon 6.9 OOO Douglas Rivoli, Moscow 2.0 S.I.A. Douglas Baltic, Riga 7.3 S.I.A. Douglas Latvia, Riga 5.2 Parfümerie Douglas Bulgarien ood, Sofia 6.4 7.7 IRIS d.d., Zagreb 8.0 12.5 Thalia Holding GmbH, Hamburg 42.9 38.4 Thalia Universitätsbuchhandlung GmbH, Hagen 5.8 3.2 5.9 0.7 Reinhold Gondrom GmbH & Co. KG, Kaiserslautern 0.5 14.0 0.5 14.0 Buch und Kunst Gruppe, Dresden 19.5 20.0 Grüttefien GmbH, Varel 4.5 2.7 buch.de internetstores AG, Münster 0.2 19.2 buch.ch AG, Winterthur 6.8 Buch Kaiser GmbH, Karlsruhe 0.0 2.5 Other 2.1 2.5 2.3 1.5 Total 34.7 155.3 40.3 38.3 167.1 16.1 17. Deferred taxes Deferred taxes were calculated on the differences between the IFRS carrying amount and the tax base and can be broken down to the individual balance sheet items as follows: 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 147
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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
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Divisions Thalia · Books 87 Tradit
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Thalia in Figures employees, who su
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Capturing the imaginations of Dortm
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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 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: Finance leases As of the balance sh
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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