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ePaper created 2015-08-13, 16:59:47 | version 1.40.01
Financial StatementsDeutsche EuroShop 5 Interim Report H1 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 -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 30.06.2014 53,945,536 53,945 961,970 412,944 2,000 0 -30,828 1,400,031 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 5,090 5,090 Consolidated profit 49,663 49,663 Total profit 0 0 49,663 0 0 5,090 54,753 Dividend payments -70,129 -70,129 30.06.2015 53,945,536 53,945 961,970 523,559 2,000 -7 -32,501 1,508,966 Consolidated cash flow statement in € thousand 01.01. – 30.06.2015 01.01. – 30.06.2014 Profit after tax 49,663 46,345 Profit / loss attributable to limited partners 8,525 7,833 Depreciation of intangible assets and property, plant and equipment 45 38 Net profit and loss from derivatives -1,320 1,009 Other non-cash income and expenses 854 854 Profit / losses of joint ventures and associates -1,105 -617 Deferred taxes 9,154 8,756 Operating cash flow 65,816 64,218 Changes in receivables 4,708 5,473 Change in other financial investments 0 3,000 Changes in current provisions -4,771 -2,752 Changes in liabilities -1,187 -7,192 Cash flow from operating activities 64,566 62,747 Outflows for the acquisition of property, plant and equipment / investment properties -705 -1,000 Inflows from changes in financial assets -800 34,245 Cash flow from investing activities -1,505 33,245 Outflows in connection with financial liabilities assumed 30,439 10,425 Payments to limited partners -8,334 -7,959 Payments to Group shareholders -70,129 -67,432 Cash flow from financing activities -48,024 -64,966 Net change in cash and cash equivalents 15,037 31,026 Cash and cash equivalents at beginning of period 58,284 40,810 Cash and cash equivalents at end of period 73,321 71,836 Disclosures Reporting principles These interim financial statements of the Deutsche EuroShop Group as at 30 June 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 of the first six months up to 30 June 2015 is not necessarily an indication 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 ho- mogeneous 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. 01.01.201453,945,53653,945961,970434,0312,0000 -22,9971,428,949 Consolidated profit 46,34546,345 Total profit 0046,34500 -7,83138,514 30.06.201453,945,53653,945961,970412,9442,0000 -30,8281,400,031 01.01.201553,945,53653,945961,970544,0252,000 -7 -37,5911,524,342 in equity 05,0905,090 Consolidated profit 49,66349,663 Total profit 0049,663005,09054,753 30.06.201553,945,53653,945961,970523,5592,000 -7 -32,5011,508,966 Profit after tax 49,66346,345 Profit / loss attributable to limited partners 8,5257,833 plant and equipment 4538 Net profit and loss from derivatives -1,3201,009 Other non-cash income and expenses 854854 Deferred taxes 9,1548,756 Operating cash flow 65,81664,218 Changes in receivables 4,7085,473 Change in other financial investments 03,000 Cash flow from operating activities 64,56662,747 Inflows from changes in financial assets -80034,245 Cash flow from investing activities -1,50533,245 liabilities assumed 30,43910,425 Net change in cash and cash equivalents 15,03731,026 of period 58,28440,810 Cash and cash equivalents at end of period 73,32171,836