Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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148 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 Deferred taxes Asset (in EUR m) 09/30/2010 09/30/2009 Liability (in EUR m) Asset (in EUR m) Liability (in EUR m) Intangible assets 3.0 10.4 4.6 1.0 Property, plant and equipment 9.9 9.4 9.4 9.5 Inventories 5.5 0.7 5.9 0.8 Financial assets 1.0 1.7 0.4 1.6 Other assets 0.2 0.0 0.1 0.0 Provisions 13.8 0.0 13.0 0.0 Financial liabilities 5.3 1.2 3.8 1.5 Other liabilities 0.0 4.5 0.3 4.5 Additional paid-in capital 0.0 0.3 0.0 0.3 Tax loss carryforwards 16.2 0.0 8.1 0.0 Total 54.9 28.2 45.6 19.2 Offsetting −15.6 −15.6 −12.3 −12.3 Carrying amount 39.3 12.6 33.3 6.9 Deferred tax assets on loss carryforwards were recognized for companies with budget forecasts triggering substantial indications for impairment. Based on a lower sales growth rate of 0.5 percent and a declining gross profit ratio of 0.5 percentage points, a write-down amount of 0.4 million Euro and 0.0 million Euro respectively would arise for Douglas Spain S.A.. 18. Inventories Inventories 09/30/2010 (in EUR m) 09/30/2009 (in EUR m) Finished goods and merchandise 635.3 655.3 Raw materials, consumables and supplies 9.4 11.3 Advances to suppliers for merchandise 2.5 0.5 Total 647.2 667.1 In the fiscal year under review, inventories were written down to the net realizable value in the amount of 22.7 million EUR (previous year: 22.7 million EUR). 19. Trade accounts receivable Trade accounts receivable primarily include settlement receivables from credit card organizations as well as from Douglas Card customers. Of this amount, 1.3 million EUR (previous year: 0.9 million EUR) was written down due to an allowance for uncollectible
accounts. The write-downs on trade accounts receivable are shown under other operating expenses. They are payable immediately. These receivables do not bear interest and are therefore not exposed to any interest rate risk. The carrying amounts of the receivables are basically equivalent to their Fair Values. The maximum default risk corresponded to the carrying value as of the balance sheet date. 20. Financial assets Financial assets 09/30/2010 With a remaining term of Up to 1 year (in EUR m) More than 1 year (in EUR m) 09/30/2009 With a remaining term of Up to 1 year (in EUR m) More than 1 year (in EUR m) Bonuses 72.1 65.1 Other equity participations 2.4 2.5 Other loans and advances 2.6 3.0 Securities 0.1 0.9 Derivative financial instruments 0.0 0.0 Other financial assets 24.5 0.1 28.9 0.3 Total 96.7 5.1 94.9 5.8 Other equity participations are investments in equity instruments of unlisted companies and are carried at cost. Their Fair Values cannot be reliably measured because no market values for these instruments exist. Due to different balance sheet dates, no current financial information is available. Furthermore, it is not possible to state a range of estimated values. Other loans were issued with a fixed interest rate of 6.8 percent and a term until November 30, 2010 as well as loans with variable interest rates. Securities are designated as “available-for-sale” and therefore carried at Fair Value. Changes in Fair Value are recognized directly to equity as a separate component. Other financial assets include receivables from associates, in which other investments are held, in the amount of 0.3 million EUR (previous year: 0.8 million EUR). Furthermore, the item contains balances owed in supplier accounts of 6.9 million EUR (previous year: 4.9 million EUR) and receivables from rental agreements of 7.0 million EUR (previous year: 5.4 million EUR). In addition, a short-term loan of 8.6 million EUR is reported under other financial assets with a floating rate based on EURIBOR plus a margin. All other financial assets are non-interest bearing financial instruments. The carrying amounts of other financial assets are basically equivalent to their Fair Values. There are no restrictions to the disposal rights for the receivables and other assets carried on the balance sheet. The maximum default risk corresponds to the carrying value as of the balance sheet date. 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 149
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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
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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 and 150: Finance leases As of the balance sh
Page 151: Carrying amounts of goodwill and in
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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