Please activate JavaScript!
Please install Adobe Flash Player, click here for download
ePaper created 2013-08-14, 15:27:27 | version 1.25.20
Interim Report H1 2013 DES Interim Report Q1 2013 31.12.2012 pre- adjusted 31.12.2012 Adjust- ment 31.12.2012 re- adjusted ASSETS Non-current assets Intangible assets 16 0 16 Property, plant and equipment 112 0 112 Investment properties 3,330,289 -839,526 2,490,763 Non-current financial assets 30,293 0 30,293 Investments accounted for using the equity method 4,109 466,374 470,483 Other non-current assets 316 -33 283 Non-current assets 3,365,135 -373,185 2,991,950 Current assets Trade receivables 4,738 -1,539 3,199 Other current assets 7,115 -1,140 5,975 Other financial investments 4,355 -4,355 0 Cash and cash equivalents 167,511 -9,317 158,194 Current assets 183,719 -16,351 167,368 3,548,854 -389,536 3,159,318 31.12.2012 pre- adjusted 31.12.2012 Adjust- ment 31.12.2012 re- adjusted EQUITY AND LIABILITIES Equity and reserves Issued capital 53,945 0 53,945 Capital reserves 961,987 0 961,987 Retained earnings 305,982 0 305,982 Total equity 1,321,914 0 1,321,914 Non-current liabilities Financial liabilities 1,463,097 -295,233 1,167,864 Deferred tax liabilities 180,525 0 180,525 Right to redeem of limited partners 284,176 -77,666 206,510 Other liabilities 51,242 -8,558 42,684 Non-current liabilities 1,979,040 -381,457 1,597,583 Current liabilities Bank loans and overdrafts 194,137 -4,272 189,865 Trade payables 2,331 -283 2,048 Tax liabilities 24,572 -3 24,569 Other provisions 12,749 -377 12,372 Other liabilities 14,111 -3,144 10,967 Current liabilities 247,900 -8,079 239,821 3,548,854 -389,536 3,159,318 ASSets in € thousands Total assets EQUITY AND LIABILITIES Total equity and liabilities consolidated cash flow statement – Switch to equity accounting 01.01. – 30.06.2012 pre- adjusted 01.01. – 30.06.2012 re- adjusted Revenue 104,476 77,764 Property operating costs -5,529 -4,638 Property management costs -5,367 -3,929 Net operating income (NOI) 93,580 69,197 Other operating income 765 692 Other operating expenses -3,123 -2,913 Earnings before interest and taxes (EBIT) 91,222 66,976 Interest income 297 263 Interest expense -32,911 -25,768 Profit / loss attributable to limited partners -9,532 -7,315 Share of the profit or loss of associates and joint ventures accounted for using the equity method 0 14,661 Net finance costs -42,146 -18,159 Measurement gains / losses -1,867 -1,644 Earnings before tax (EBT) 47,209 47,173 Income tax expense -14,631 -14,595 Consolidated profit 32,578 32,578 Earnings per share (€ ), basic 0.63 0.63 Earnings per share (€ ), diluted 0.63 0.63 In addition, voting agreements existed with a co-shareholder of Immobilien Kommanditgesellschaft FEZ Harburg and a co-share- holder of Stadt-Galerie Passau KG until 31 December 2012, which granted Deutsche EuroShop a controlling interest in these companies. These voting agreements were terminated by mutual agreement as per 31 December 2012. As a result, Deutsche EuroShop no longer has the necessary majority voting interest. The two companies, in which Deutsche EuroShop AG holds a 50 % and 75 % stake, respectively, were previously fully consolidated. They also switched over to the equity method as of 1 January 2013, with the result that the follow- ing asset and liability items from the consolidated balance sheet as of 31 December 2012 are no longer shown: Investment properties 333,370 Receivables and other assets 1,114 Cash and cash equivalents 2,812 Provisions 124 Financial liabilities 109,872 Other liabilities 581 Minority interests 77,666 in T€ in € thousand in € thousands