Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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56 Management Report Social Commitment of the DOUGLAS Group The DOUGLAS Group associates corporate responsibility with a clear claim: Retailing with heart and mind. The company’s social commitment is reflected by various small and large activities and initiatives. On the occasion of its Annual Shareholders’ Meeting, the DOUGLAS HOLDING donated a total of 25,000 Euro to three institutions in and in the vicinity of Hagen (from left): Jürgen Dittrich (Board Speaker of “Evangelische Stiftung Volmarstein”), Dr. Henning Kreke (President and CEO of DOUGLAS HOLDING), Dr. Ingeborg Otto (Soup Kitchen in Hagen), Anke Giesen (Executive Board member of DOUG- LAS HOLDING), Heide Alscher (Head of the children’s protection ambulance in Hagen) and Thomas Haensel (Managing Director of the Social Welfare Facility). Douglas and DKMS LIFE: Since 2008 the perfumeries have organized over 450 cosmetic seminars free-of-charge to women suffering from cancer. A heart for the children: Hussel was the sponsor of the Children’s Village at the equestrian tournament “Balve Optimum.” Presented with a cheque: Sabine Riede (fifth from left), Managing Director of Sekten-Info NRW e.V., an association which informs on the issue “sects.“ From left to right: Kathrin Jaeger (Hussel), Eva Dörrenbach (trainee), Diana Dilmenc (Christ), Nina Heckerott (Douglas), Roland Höfer (Christ), Viviane Oberkampf (DOUGLAS HOLDING), Angelika Burger (Thalia), Oliver Lambor and Arzu Aslani (both AppelrathCüpper). At Christmas time, DOUGLAS Corporate Service GmbH (DCS) and DOUGLAS Informatik & Service GmbH (DIS) made children’s wishes come true. On the occasion of its 20th anniversary, the Douglas perfumery in Andernach supported “Die Tafel.“
“La Margerita” in organic quality bearing the “Rainforest Alliance” seal since 2009. The products Grand Cru Chocolates “Iara” and “Bejofo” are also organically certified and are produced from cultivated high-grade cocoa beans. OPPORTUNITIES AND RISKS SITUATION Opportunities and risks situation unchanged Opportunities and risk management In principle, the DOUGLAS Group takes risks only when they are deemed controllable and the corresponding opportunities are likely to provide an appropriate increase in value. Opportunities and risks are identified by experienced risk managers appointed for each Group company in Germany and abroad through clearly defined processes and with the assistance of a standard, centrally administered opportunities and risk management system. This system allows a monetary evaluation of opportunities and risks as well as the documentation of measures applied. The system’s effectiveness and efficiency is periodically assessed by the Group’s internal auditing unit and the independent auditor. The findings therefrom are presented to the Executive Board and the Supervisory Board. The Executive Board also receives an overview of identified opportunities and risks at regular intervals to assure that information is received in a timely manner. In the event of sudden and material risks being incurred, the Executive Board immediately receives all necessary information. Environment and business opportunities and risks The macroeconomic development in the all-important markets of the DOUGLAS Group is extremely hard to estimate; and it has a material impact on the net assets, financial position and result of operations of the Group. Thus, a downward trend in retail sales in Europe presents a risk. By positive contrast, a significantly growing consumption demand presents an opportunity for the Group. For purposes of responding to changes in the framework conditions in a timely manner, not only are budget reports regularly updated, but scenario analyses are also prepared. The risks from internationalization are countered by the DOUGLAS Group by adjusting the respective product lines to the country-specific characteristics. Moreover, the national political, economic and legal framework conditions are carefully monitored and evaluated by experienced local managing directors. For purposes of optimizing the store network to the current and anticipated future framework conditions, not only were numerous openings and acquisitions carried out, but stores closed as well. In the 2008/09 fiscal year a special program was conducted to streamline the store network. This incorporated the closure of those stores that did not Management Report Key results Business activities and operating environment Net assets, financial position and result of operations DOUGLAS HOLDING AG Subsequent events Control system and success factors Opportunities and risks situation Statutory disclosures Forecast and overall assessment 57
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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
Page 9 and 10: CORPORATE GOVERNANCE DOUGLAS HOLDIN
Page 11 and 12: 167 168 component of the Chief Huma
Page 13 and 14: Dr. Dr. h.c. Jörn Kreke, Chairman
Page 15 and 16: Fig. 3 Fig. 2 · Maximum and minimu
Page 17 and 18: from Executive Board speeches as we
Page 19 and 20: IMPRESSIONS October 2009 With Dougl
Page 21 and 22: June 2010 Hussel pilots a “new wo
Page 23 and 24: DOUGLAS HOLDING AG 19 Mission State
Page 25 and 26: Valued for their reading tips: Mari
Page 27 and 28: seminar at the Zeppelin University
Page 29 and 30: DOUGLAS HOLDING AG Mission Statemen
Page 31 and 32: MANAGEMENT REPORT CONTENTS Manageme
Page 33 and 34: KEY RESULTS IN THE 2009/10 FISCAL Y
Page 35 and 36: All five retailing divisions combin
Page 37 and 38: Fig. 1 · Targets and results Targe
Page 39 and 40: ahead at the positive economic outl
Page 41 and 42: In the fiscal year, Douglas opened
Page 43 and 44: The operating earnings in the Books
Page 45 and 46: Fig. 6 · Development of capital ex
Page 47 and 48: lining, which had a liquidity effec
Page 49 and 50: DOUGLAS HOLDING AG The DOUGLAS HOLD
Page 51 and 52: INTERNAL CONTROL SYSTEM AND KEY SUC
Page 53 and 54: DVA calculation Based on the premis
Page 55 and 56: Fig. 14 · Employees by division Ch
Page 57 and 58: development of highly qualified emp
Page 59: Corporate responsibility is also an
Page 63 and 64: Information technology opportunitie
Page 65 and 66: The data transferred is then automa
Page 67 and 68: The existing risks both as individu
Page 69 and 70: 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
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Impeccably showcased products: the
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Hussel in Figures Aschaffenburg is
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FINANCIAL STATEMENTS CONTENTS 112 F
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CONSOLIDATED INCOME STATEMENT for t
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STATEMENT OF CHANGES IN GROUP EQUIT
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Financial statements Facts & figure
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NOTES TO THE CONSOLIDATED FINANCIAL
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IAS 23 “Borrowing Costs” In Mar
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public sector have been expanded. T
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Group of Consolidated Companies Ger
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At-equity consolidation 09/30/2010
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5. Accounting and valuation princip
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Financial assets denominated in a f
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issued for speculative purposes. De
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NOTES TO THE INCOME STATEMENT 6. Sa
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11. Investment result In the previo
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15. Income taxes Income taxes 2009/
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Intangible assets - Fiscal year 200
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Property, plant and equipment - Fis
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Finance leases As of the balance sh
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Carrying amounts of goodwill and in
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accounts. The write-downs on trade
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23. Assets and liabilities held for
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of the fiscal year, which are then
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essary information, this plan is qu
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Statement of changes in current pro
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Cash and cash equivalents are compr
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31. Fair Values of financial instru
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All financial liabilities existing
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Financial liabilities In the 2006/0
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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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Annual Report 2009/10 Excellence in Retailing - Douglas Holding

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