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ePaper created 2014-08-13, 09:54:36 | version 1.32.01
deutsche euroshoP Interim Report H1 2014 08 Statement of changes in equity Number of shares out- standing Share capital Capital reserves Other retained earnings Statutory reserve Available for sale reserve Cash flow hedge reserve Total 01.01.2013 53,945,536 53,945 961,987 323,134 2,000 12,193 -31,345 1,321,914 Total earnings recognised directly in equity 5,092 6,411 11,503 Consolidated profit 37,693 37,693 Total profit 42,785 0 0 6,411 49,196 Dividend payments -64,735 -64,735 Other changes -17 -84 -101 30.06.2013 53,945,536 53,945 961,987 301,100 2,000 12,193 -24,934 1,306,274 01.01.2014 53,945,536 53,945 961,970 434,031 2,000 0 -22,997 1,428,949 Total earnings recognised directly in equity 0 -7,831 -7,831 Consolidated profit 46,345 46,345 Total profit 0 0 46,345 0 0 -7,831 38,514 Dividend payments -67,432 -67,432 Other changes 0 0 30.06.2014 53,945,536 53,945 961,970 412,944 2,000 0 -30,828 1,400,031 in € thousand Disclosures Reporting principles These interim financial statements of the Deutsche EuroShop Group as at 30 June 2014 have been prepared in accordance with Interna- tional Financial Reporting Standards (IFRS). The management report and the abridged financial statements were not audited in accordance with section 317 of the Handelsgesetz- buch (HGB – German Commercial Code), nor were they reviewed by a person qualified to carry out audits. In the opinion of the Executive Board, the report contains all of the necessary adjustments required to give a true and fair view of the results of operations as at the date of the interim report. The performance of the first six months up to 30 June 2014 is not necessarily an indication of future performance. The accounting policies applied correspond to those used in the last consolidated financial statements as at the end of the financial year. A detailed description of the methods applied was published in the notes to the consolidated financial statements for 2013. Adjustment in accordance with IAS 8 (change to previous year’s figures as of 30 June 2013) With effect from 30 April 2013, Deutsche EuroShop AG increased its shareholding in Altmarkt-Galerie Dresden from 67% to 100%. Since the first-time consolidation produced effects which had an impact on net finance costs and valuation gains / losses, these were reported differently in the financial statements for the same period of the previous year. The purchase of these shares made it necessary to recognise in income the negative present value of an interest rate hedge (swap) in the amount of €6.8 million. The change in value between 30 April and 30 June 2013 amounted to €+1.7 million with the result that other financial expenses in the amount of €5.1 million and their corre- sponding tax effects will be recognised in the income statement from this point on. Furthermore, this transaction did not result in any excess of identified net assets acquired over cost of acquisition in accordance with IFRS 3. The amount originally recognised (€0.6 mil- lion) was removed from the valuation gains and losses.