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ePaper created 2012-04-27, 18:43:33 | version 1.23.1
SEGMENT REPORTING As a holding company, Deutsche EuroShop AG holds equity interests in shopping centers in the European Union. The investees are pure shelf companies without staff of their own. Operational management is contracted out to external service providers under agency agreements, meaning that the companies‘ activities are exclusively restricted to asset management. The companies are operated individually. Due to the Company‘s uniform business activities within a relatively homogeneous region (the European Union), and in accordance with IFRS 8.12, separate segment reporting is presented in the form of a breakdown by domestic and international results. As the Group’s main decision-making body, the Deutsche EuroShop AG Executive Boardlargely assesses the performance of the segments based on the EBIT of the individual property companies. The valuation principles for the segment reporting correspond to those of the Group. Intra-Group activities between the segments are eliminated in the reconciliation statement. In view of the geographical segmentation, no further information pursuant to IFRS 8.33 is given. The previous year’s figures have been restated in the reconciliation statement for earnings before tax (EBT) and net interest income. BrEakdown By gEographical sEgmEnt in € thousand domestic international reconciliation Total revenue 166,832 23,143 0 189,975 (previous year’s figures) (121,330) (22,859) (0) (144,189) in € thousand domestic international reconciliation Total EbIt 148,652 20,698 -3,689 165,661 (previous year’s figures) (107,951) (20,431) -(4,350) (124,032) in € thousand domestic international reconciliation Total Net interest income -55,972 -7,516 -1,411 -64,899 (previous year’s figures) -(45,644) -(7,606) (215) -(53,035) in € thousand domestic international reconciliation Total Earnings before tax (Ebt) 119,397 17,754 -8,777 128,374 (previous year’s figures) (84,759) (14,809) -(2,570) (96,998) in € thousand domestic international Total Segment assets 2,874,224 350,901 3,225,125 (previous year’s figures) (2,621,311) (342,265) (2,963,576) of which investment properties 2,763,626 343,206 3,106,832 (previous year’s figures) (2,367,696) (333,001) (2,700,697) DES Annual Report 2011 55 ConSoLIDAteD FInAnCIAL StAteMentS segment reporting