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ePaper created 2013-05-15, 15:02:49 | version 1.25.15
Interim Report Q1 2013 DES Interim Report Q1 2013 { 12 } Equity-accounted 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 agree- ments, 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 Board largely assesses the performance of the segments based on the EBIT of the individual property companies. The valu- ation 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. Breakdown by geographical segment Domes- tic Inter national Recon- ciliation Total Revenue 40,431 1,976 0 42,407 (previous year’s figures) (35,089) (3,539) (0) (38,628) Domes- tic Inter national Recon- ciliation Total EBIT 35,418 3,038 -1,200 37,256 (previous year’s figures) (31,397) (3,648) -(1,249) (33,796) Domes- tic Inter national Recon- ciliation Total Net interest income -11,921 -498 -830 -13,249 (previous year’s figures) -(11,462) -(1,015) -(449) -(12,926) Domes- tic Inter national Recon- ciliation Total Earnings before tax (EBT) 26,049 2,724 -2,984 25,789 (previous year’s figures) (17,668) (1,951) (3,978) (23,597) in € thousands in € thousands in € thousands in € thousands Domestic Inter national Total Segment assets 2,867,385 219,258 3,086,643 (previous year’s figures) (2,940,536) (218,782) (3,159,318) of which invest- ment properties 2,276,777 213,995 2,490,772 (previous year’s figures) (2,276,740) (214,023) (2,490,763) Other disclosures Dividend No dividend was distributed in the first quarter of 2013. Responsibility statement by the Executive Board To the best of our knowledge, and in accordance with the applicable reporting principles for interim financial reporting, the interim con- solidated financial statements give a true and fair view of the assets, liabilities, financial position and profit or loss of the Group, and the interim management report of the Group includes a fair review of the development and performance of the business and the position of the Group, together with a description of the principal opportuni- ties and risks associated with the expected development of the Group for the remainder of the financial year. Hamburg, May 2013 Claus-Matthias Böge Olaf Borkers in € thousands