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ePaper created 2015-05-12, 17:40:26 | version 1.38.0
financial statementsDeutsche EuroShop 5 Interim Report Q1 2015 Statement of changes in equity in € thousand Number of shares outstanding Share capital Capital reserves Other retained earnings Statutory reserve Available for sale reserve Cash flow hedge reserve Total 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 -3,530 -3,530 Consolidated profit 22,591 22,591 Total profit 0 0 22,591 0 0 -3,530 19,061 31.03.2014 53,945,536 53,945 961,970 456,622 2,000 0 -26,527 1,448,010 01.01.2015 53,945,536 53,945 961,970 544,025 2,000 -7 -37,591 1,524,342 Total earnings recognised directly in equity 0 -2,851 -2,851 Consolidated profit 25,319 25,319 Total profit 0 0 25,319 0 0 -2,851 22,468 31.03.2015 53,945,536 53,945 961,970 569,344 2,000 -7 -40,442 1,546,810 Consolidated cash flow statement in € thousand 01.01. – 31.03.2015 01.01. – 31.03.2014 Profit after tax 25,319 22,591 Profit / loss attributable to limited partners 4,184 3,660 Depreciation of intangible assets and property, plant and equipment 22 19 Net profit and loss from derivatives -352 532 Other non-cash income and expenses 865 865 Profit / losses of joint ventures and associates -1,443 -1,404 Deferred taxes 4,675 5,454 Operating cash flow 33,270 31,717 Changes in receivables 2,796 3,372 Change in other financial investments 0 3,000 Changes in current provisions 715 287 Changes in liabilities -4,142 -6,710 Cash flow from operating activities 32,639 31,666 Outflows for the acquisition of property, plant and equipment / investment properties -522 -671 Inflows from changes in financial assets -400 34,245 Cash flow from investing activities -922 33,574 Outflows from the repayment of financial liabilities -5,822 -44,054 Payments to limited partners -3,359 -3,022 Cash flow from financing activities -9,181 -47,076 Net change in cash and cash equivalents 22,536 18,164 Cash and cash equivalents at beginning of period 58,284 40,810 Cash and cash equivalents at end of period 80,820 58,974 Disclosures Reporting principles These interim financial statements of the Deutsche EuroShop Group as at 31 March 2015 have been prepared in accordance with International Finan- cial Reporting Standards (IFRS). The management report and the abridged financial statements were not audited in accordance with section 317 of the Handelsgesetzbuch (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 in the first three months up to 31 March 2015 is not necessarily an indica- tion of future performance. The accounting policies applied correspond to those used in the last con- solidated financial statements as at the end of the financial year. A detailed description of the methods applied was published in the notes to the con- solidated financial statements for 2014. Segment reporting As a holding company, Deutsche EuroShop AG holds equity interests in shopping centers in the European Union. The investees are pure real-estate shelf companies without staff of their own. Operational management is contracted out to external service providers under agency agreements, with the result 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 homo- geneous region (the European Union), and in accordance with IFRS 8.12, separate segment reporting is presented in the form of a breakdown by do- mestic and international results. As the Group’s main decision-making body, the Deutsche EuroShop AG Executive Board first and foremost assesses the performance of the seg- ments based on the EBT before measurement of the individual property companies. The valuation principles for the segment reporting correspond to those of the Group. 01.01.201453,945,53653,945961,970434,0312,0000 -22,9971,428,949 Consolidated profit 22,59122,591 Total profit 0022,59100 -3,53019,061 31.03.201453,945,53653,945961,970456,6222,0000 -26,5271,448,010 01.01.201553,945,53653,945961,970544,0252,000 -7 -37,5911,524,342 Consolidated profit 25,31925,319 Total profit 0025,31900 -2,85122,468 31.03.201553,945,53653,945961,970569,3442,000 -7 -40,4421,546,810 Profit after tax 25,31922,591 Profit / loss attributable to limited partners 4,1843,660 plant and equipment 2219 Net profit and loss from derivatives -352532 Other non-cash income and expenses 865865 Deferred taxes 4,6755,454 Operating cash flow 33,27031,717 Changes in receivables 2,7963,372 Change in other financial investments 03,000 Changes in current provisions 715287 Cash flow from operating activities 32,63931,666 Inflows from changes in financial assets -40034,245 Cash flow from investing activities -92233,574 Net change in cash and cash equivalents 22,53618,164 of period 58,28440,810 Cash and cash equivalents at end of period 80,82058,974