Consolidated Financial Statements and Management Report ... ?· Consolidated Financial Statements 2016…

Download Consolidated Financial Statements and Management Report ... ?· Consolidated Financial Statements 2016…

Post on 11-Jul-2018

212 views

Category:

Documents

0 download

Embed Size (px)

TRANSCRIPT

<ul><li><p>Consolidated Financial Statements and Management </p><p>Report for the Parent Company and the Group 2016 </p><p>Rocket Internet SE, Berlin </p><p>Non-binding convenience translation from German </p></li><li><p>Table of Contents </p><p>Consolidated Financial Statements for 2016 (prepared in accordance with IFRS as endorsed in the EU) comprising: </p><p> Consolidated Statement of Comprehensive Income </p><p> Consolidated Balance Sheet </p><p> Consolidated Statement of Changes in Equity </p><p> Consolidated Statement of Cash Flows </p><p> Notes to the Consolidated Financial Statements </p><p>Management Report for the Parent Company and the Group 2016 (Combined Management Report) </p><p>Audit Opinion </p><p>Responsibility Statement </p></li><li><p>Consolidated Financial Statements 2016 </p><p>(prepared in accordance with IFRS as endorsed in the EU) </p><p>Rocket Internet SE, Berlin </p><p>Non-binding convenience translation from German </p></li><li><p>Rocket Internet SE </p><p>Consolidated Financial Statements (IFRS) </p><p>1 </p><p>Consolidated Financial Statements Consolidated Statement of Comprehensive Income ...................................................................................................... 2 Consolidated Balance Sheet ......................................................................................................................................... 3 Consolidated Statement of Changes in Equity .............................................................................................................. 4 Consolidated Statement of Cash Flows ......................................................................................................................... 5 Notes to the Consolidated Financial Statements </p><p>1 Corporate and Group Information ....................................................................................................................... 6 2 Basis of Preparation ........................................................................................................................................... 8 3 Summary of Significant Accounting Policies ...................................................................................................... 9 4 Critical Accounting Judgments, Estimates and Assumptions in Applying Accounting Policies ......................... 22 5 New Accounting Pronouncements ................................................................................................................... 26 6 Segment Information ........................................................................................................................................ 28 7 Capital Management ........................................................................................................................................ 31 8 Principal Subsidiaries ....................................................................................................................................... 32 9 Business Combinations and Similar Transactions............................................................................................ 38 10 Investments in Associates and Joint Ventures ................................................................................................. 39 11 Investments in Structured Entities .................................................................................................................... 47 12 Revenue ........................................................................................................................................................... 49 13 Internally Produced and Capitalized Assets ..................................................................................................... 49 14 Other Operating Income ................................................................................................................................... 49 15 Result from Deconsolidation of Subsidiaries .................................................................................................... 49 16 Purchased Merchandise and Purchased Services ........................................................................................... 50 17 Employee Benefit Expenses ............................................................................................................................ 50 18 Other Operating Expenses ............................................................................................................................... 51 19 Share of Profit/Loss of Associates and Joint Ventures ..................................................................................... 51 20 Depreciation and Amortization ......................................................................................................................... 51 21 Financial Result ................................................................................................................................................ 52 22 Income Tax ...................................................................................................................................................... 52 23 Earnings per Share .......................................................................................................................................... 55 24 Property, Plant and Equipment ........................................................................................................................ 57 25 Intangible Assets .............................................................................................................................................. 58 26 Non-Current Financial Assets .......................................................................................................................... 60 27 Inventories ........................................................................................................................................................ 60 28 Trade Receivables ........................................................................................................................................... 60 29 Other Current Financial Assets ........................................................................................................................ 61 30 Non-Financial Assets ....................................................................................................................................... 62 31 Cash and Cash Equivalents / Consolidated Statement of Cash Flows ............................................................ 62 32 Assets Classified as Held for Sale and Liabilities Associated with Assets Classified as Held for Sale ............. 63 33 Subscribed Capital and Reserves .................................................................................................................... 64 34 Distributions Made and Proposed .................................................................................................................... 66 35 Non-Current Financial Liabilities....................................................................................................................... 66 36 Trade Payables ................................................................................................................................................ 67 37 Other Current Financial Liabilities .................................................................................................................... 67 38 Non-Financial Liabilities ................................................................................................................................... 67 39 Share-Based Compensation ............................................................................................................................ 68 40 Financial Risk Management ............................................................................................................................. 71 41 Financial Instruments ....................................................................................................................................... 74 42 Balances and Transactions with Related Parties ............................................................................................. 84 43 Contingent Liabilities and other Contractual Obligations .................................................................................. 87 44 Auditors Fees .................................................................................................................................................. 88 45 Events after the Reporting Period .................................................................................................................... 88 46 List of Group shareholdings pursuant to Sec. 313 (2) HGB ............................................................................. 89 47 Number of Employees pursuant to Sec. 314 (1) No. 4 HGB ............................................................................ 95 48 Declaration of compliance with German Corporate Governance Code ............................................................ 95 49 Authorization of the Financial Statements for Issue ......................................................................................... 96 </p></li><li><p>Rocket Internet SE, Berlin</p><p>Consolidated Statement of Comprehensive Income for the Period January 1 to December 31, 2016</p><p>Income Statement </p><p>In EUR thousand Note</p><p>Jan 1 -Dec 31, </p><p>2016</p><p>Jan 1 - Dec 31, </p><p>2015</p><p>Revenue 6, 12 50,356 128,332</p><p>Internally produced and capitalized assets 13 2,893 5,719</p><p>Other operating income 14 1,216 4,994</p><p>Result from deconsolidation of subsidiaries 15 48,268 167,025</p><p>Purchased merchandise and purchased services 16 -24,197 -64,116</p><p>Employee benefits expenses 17 -59,002 -171,656</p><p>Other operating expenses 18 -45,269 -82,470</p><p>Share of profit/loss of associates and joint ventures 19 -539,609 -188,629</p><p>EBITDA -565,344 -200,801</p><p>Depreciation and amortization 20 -4,386 -7,271</p><p>Impairment of non-current assets 25 -9,269 -18,050</p><p>EBIT -578,999 -226,122</p><p>Financial result -167,968 29,717</p><p>Finance costs 21 -237,853 -65,357</p><p>Finance income 21 69,884 95,074</p><p>Loss before tax -746,967 -196,406</p><p>Income taxes 22 5,493 -1,395</p><p>Loss for the period -741,474 -197,801</p><p>Loss/profit attributable to non-controlling interests 44,116 -4,658</p><p>Loss attributable to equity holders of the parent -697,358 -202,459</p><p>Earnings per share (in EUR) 23 -4.22 -1.24</p><p>Statement of Comprehensive Income </p><p>In EUR thousand Note</p><p>Jan 1 -Dec 31, </p><p>2016</p><p>Jan 1 - Dec 31, </p><p>2015</p><p>Loss for the period -741,474 -197,801</p><p>Exchange differences on translation of foreign operations 719 -1,144</p><p>Net gain on available-for-sale (AFS) financial assets 96,355 135,327</p><p>Deferred taxes on net gain on available-for-sale (AFS) financial assets 209 -209</p><p>Share of the changes in the net assets of associates/joint ventures that are </p><p>recognized in OCI of the associates/joint ventures21,255 -98,988</p><p>Deferred taxes on share of the changes in the net assets of associates/joint </p><p>ventures that are recognized in OCI of the associates/joint ventures-273 1,443</p><p>Net other comprehensive income to be reclassified to profit or loss in </p><p>subsequent periods118,265 36,431</p><p>Other comprehensive income for the period, net of tax 118,265 36,431</p><p>Total comprehensive loss for the period, net of tax -623,209 -161,370</p><p>Total comprehensive loss/income attributable to:</p><p> Equity holders of the parent -579,620 -165,731</p><p> Non-controlling interests -43,590 4,361</p><p>2</p></li><li><p>Ro</p><p>cket </p><p>Inte</p><p>rnet </p><p>SE</p><p>, B</p><p>erl</p><p>in</p><p>Co</p><p>nso</p><p>lid</p><p>ate</p><p>d B</p><p>ala</p><p>nce S</p><p>heet </p><p>as o</p><p>f D</p><p>ecem</p><p>ber </p><p>31, 2016</p><p>Assets</p><p>Eq</p><p>uit</p><p>y a</p><p>nd</p><p> lia</p><p>bilit</p><p>ies</p><p>In E</p><p>UR</p><p> thousand</p><p>Note</p><p>Dec 3</p><p>1, 2016</p><p>Dec 3</p><p>1, 2015</p><p>In E</p><p>UR</p><p> thousand</p><p>Note</p><p>Dec 3</p><p>1, 2016</p><p>Dec 3</p><p>1, 2015</p><p>No</p><p>n-c</p><p>urr</p><p>en</p><p>t assets</p><p>Eq</p><p>uit</p><p>y</p><p>Pro</p><p>pert</p><p>y, pla</p><p>nt and e</p><p>quip</p><p>ment</p><p>24</p><p>3,5</p><p>35</p><p>2,8</p><p>26</p><p>Subscribed c</p><p>apital </p><p>33</p><p>165,1</p><p>41</p><p>165,1</p><p>41</p><p>Inta</p><p>ngib</p><p>le a</p><p>ssets</p><p> 25</p><p>2,0</p><p>75</p><p>129,1</p><p>27</p><p>Capital re</p><p>serv</p><p>es</p><p>33</p><p>3,0</p><p>99,4</p><p>27</p><p>3,1</p><p>05,4</p><p>77</p><p>Investm</p><p>ents</p><p> in a</p><p>ssocia</p><p>tes a</p><p>nd join</p><p>t ventu</p><p>res</p><p>10, 11</p><p>837,4</p><p>53</p><p>1,6</p><p>96,4</p><p>21</p><p>Reta</p><p>ined e</p><p>arn</p><p>ings</p><p>33, 34</p><p>210,6</p><p>23</p><p>883,9</p><p>12</p><p>Non-c</p><p>urr</p><p>ent financia</p><p>l assets</p><p>26, 41</p><p>1,5</p><p>42,0</p><p>69</p><p>1,3</p><p>33,1</p><p>84</p><p>Oth</p><p>er </p><p>com</p><p>ponents</p><p> of equity </p><p>33</p><p>241,5</p><p>82</p><p>123,8</p><p>44</p><p>Oth</p><p>er </p><p>non-c</p><p>urr</p><p>ent non-f</p><p>inancia</p><p>l assets</p><p>30</p><p>482</p><p>523</p><p>Incom</p><p>e tax a</p><p>ssets</p><p>22</p><p>9167</p><p>Eq</p><p>uit</p><p>y a</p><p>ttri</p><p>bu</p><p>tab</p><p>le t</p><p>o e</p><p>qu</p><p>ity h</p><p>old</p><p>ers</p><p> of </p><p>the p</p><p>are</p><p>nt</p><p>3,7</p><p>16,7</p><p>72</p><p>4,2</p><p>78,3</p><p>73</p><p>2,3</p><p>85,6</p><p>23</p><p>3,1</p><p>62,2</p><p>48</p><p>Non-c</p><p>ontr</p><p>olli</p><p>ng inte</p><p>rests</p><p>33</p><p>28,2</p><p>75</p><p>73,7</p><p>35</p><p>To</p><p>tal eq</p><p>uit</p><p>y </p><p>3,7</p><p>45,0</p><p>48</p><p>4,3</p><p>52,1</p><p>08</p><p>Cu</p><p>rren</p><p>t assets</p><p>No</p><p>n-c</p><p>urr</p><p>en</p><p>t liab</p><p>ilit</p><p>ies </p><p>Invento</p><p>ries</p><p>27</p><p>692</p><p>743</p><p>Non-c</p><p>urr</p><p>ent financia</p><p>l lia</p><p>bili</p><p>ties</p><p>35, 40, 41</p><p>332,6</p><p>43</p><p>526,8</p><p>98</p><p>Tra</p><p>de r</p><p>eceiv</p><p>able</p><p>s28, 40, 41</p><p>7,5</p><p>84</p><p>10,0</p><p>85</p><p>Oth</p><p>er </p><p>non-c</p><p>urr</p><p>ent non-f</p><p>inancia</p><p>l lia</p><p>bili</p><p>ties</p><p>38</p><p>5,0</p><p>13</p><p>398</p><p>Oth</p><p>er </p><p>curr</p><p>ent financia</p><p>l assets</p><p>29, 41</p><p>216,3</p><p>42</p><p>41,2</p><p>60</p><p>Incom</p><p>e tax lia</p><p>bili</p><p>ties</p><p>22</p><p>30</p><p>Oth</p><p>er </p><p>curr</p><p>ent non-f</p><p>inancia</p><p>l assets</p><p>30</p><p>3,3</p><p>18</p><p>5,2</p><p>46</p><p>Defe</p><p>rred tax lia</p><p>bili</p><p>ties</p><p>22</p><p>4,9</p><p>83</p><p>8,1</p><p>69</p><p>Incom</p><p>e tax a</p><p>sset </p><p>22</p><p>2,6</p><p>18</p><p>482</p><p>Cash a</p><p>nd c</p><p>ash e</p><p>quiv</p><p>ale</p><p>nts</p><p>31, 40, 41</p><p>1,4</p><p>01,0</p><p>22</p><p>1,7</p><p>58,8</p><p>89</p><p>342,6</p><p>43</p><p>535,4</p><p>65</p><p>1,6</p><p>31,5</p><p>76</p><p>1,8</p><p>16,7</p><p>05</p><p>Cu</p><p>rren</p><p>t liab</p><p>ilit</p><p>ies</p><p>Tra</p><p>de p</p><p>ayable</p><p>s </p><p>36, 40, 41</p><p>11,7</p><p>37</p><p>11,3</p><p>98</p><p>Oth</p><p>er </p><p>curr</p><p>ent financia</p><p>l lia</p><p>bili</p><p>ties </p><p>37, 40, 41</p><p>37,3</p><p>27</p><p>11,7</p><p>54</p><p>Oth</p><p>er </p><p>curr</p><p>ent non-f</p><p>inancia</p><p>l lia</p><p>bili</p><p>ties</p><p>38</p><p>46,3</p><p>33</p><p>77,2</p><p>58</p><p>Incom</p><p>e tax lia</p><p>bili</p><p>ties</p><p>22</p><p>1,1</p><p>52</p><p>512</p><p>96,5</p><p>49</p><p>100,9</p><p>22</p><p>Assets</p><p> cla</p><p>ssifie</p><p>d a</p><p>s h</p><p>eld</p><p> for </p><p>sale</p><p>32</p><p>167,3</p><p>60</p><p>17,0</p><p>90</p><p>Lia</p><p>bili</p><p>ties d</p><p>irectly a</p><p>ssocia</p><p>ted w</p><p>ith a</p><p>ssets</p><p> cla</p><p>ssifie</p><p>d a</p><p>s h</p><p>eld</p><p> for </p><p>sale</p><p>32</p><p>318</p><p>7,5</p><p>49</p><p>To</p><p>tal liab</p><p>ilit</p><p>ies</p><p>439,5</p><p>11</p><p>643,9</p><p>36</p><p>To</p><p>tal assets</p><p>4,1</p><p>84,5</p><p>59</p><p>4,9</p><p>96,0</p><p>44</p><p>To</p><p>tal eq</p><p>uit</p><p>y a</p><p>nd</p><p> lia</p><p>bilit</p><p>ies</p><p>4,1</p><p>84,5</p><p>59</p><p>4,9</p><p>96,0</p><p>44</p><p>3</p></li><li><p>Ro</p><p>cket </p><p>Inte</p><p>rnet </p><p>SE</p><p>, B</p><p>erl</p><p>in</p><p>Co</p><p>nso</p><p>lid</p><p>ate</p><p>d S</p><p>tate</p><p>men</p><p>t o</p><p>f C</p><p>han</p><p>ges in</p><p> Eq</p><p>uit</p><p>y f</p><p>or </p><p>the P</p><p>eri</p><p>od</p><p> Jan</p><p>uary</p><p> 1 t</p><p>o D</p><p>ecem</p><p>ber </p><p>31, 2016</p><p>Non-c</p><p>ontr</p><p>olli</p><p>ng</p><p>Tota</p><p>l equity</p><p>Subscribed</p><p>Capital</p><p>Reta</p><p>ined</p><p>Oth</p><p>er </p><p>com</p><p>ponents</p><p>Tota</p><p>lin</p><p>tere</p><p>sts</p><p>In E</p><p>UR</p><p> thousand</p><p>capital</p><p>reserv</p><p>es</p><p>earn</p><p>ings</p><p>of equity</p><p>Jan</p><p> 1, 2015</p><p>153,1</p><p>31</p><p>2,4</p><p>82,6</p><p>43</p><p>1,0</p><p>14,7</p><p>82</p><p>87,1</p><p>16</p><p>3,7</p><p>37,6</p><p>72</p><p>34,1</p><p>84</p><p>3,7</p><p>71,8</p><p>57</p><p>Loss for </p><p>the p</p><p>eriod</p><p>-202,4</p><p>59</p><p>-202,4</p><p>59</p><p>4,6</p><p>58</p><p>-197,8</p><p>01</p><p>Oth</p><p>er </p><p>com</p><p>pre</p><p>hensiv</p><p>e incom</p><p>e for </p><p>the p</p><p>eriod, net of ta</p><p>x33</p><p>36,7</p><p>28</p><p>36,7</p><p>28</p><p>-297</p><p>36,4</p><p>31</p><p>Tota</p><p>l com</p><p>pre</p><p>hensiv</p><p>e loss for </p><p>the p</p><p>eriod, net of ta</p><p>x-2</p><p>02,4</p><p>59</p><p>36,7</p><p>28</p><p>-165,7</p><p>31</p><p>4,3</p><p>61</p><p>-161,3</p><p>70</p><p>Pro</p><p>ceeds fro</p><p>m the issuance o</p><p>f share</p><p>s to the e</p><p>quity h</p><p>old</p><p>ers</p><p> of </p><p>the p</p><p>are</p><p>nt (c</p><p>ash c</p><p>ontr</p><p>ibution)</p><p>12,0</p><p>10</p><p>576,4</p><p>91</p><p>588,5</p><p>01</p><p>588,5</p><p>01</p><p>Issuance o</p><p>f convert</p><p>ible</p><p> bond</p><p>33, 35</p><p>37,6</p><p>59</p><p>37,6</p><p>59</p><p>37,6</p><p>59</p><p>Tra</p><p>nsaction c</p><p>osts</p><p>, net of ta</p><p>x-3</p><p>,881</p><p>-3,8</p><p>81</p><p>-3,8</p><p>81</p><p>Pro</p><p>ceeds fro</p><p>m n</p><p>on-c</p><p>ontr</p><p>olli</p><p>ng inte</p><p>rests</p><p>35,3</p><p>95</p><p>35,3</p><p>95</p><p>22,6</p><p>35</p><p>58,0</p><p>30</p><p>Div</p><p>idends p</p><p>aid</p><p> to n</p><p>on-c</p><p>ontr</p><p>olli</p><p>ng inte</p><p>rests</p><p>-8,0</p><p>33</p><p>-8,0</p><p>33</p><p>Changes in s</p><p>cope o</p><p>f consolid</p><p>ation a</p><p>nd o</p><p>ther </p><p>changes in n</p><p>on-c</p><p>ontr</p><p>olli</p><p>ng inte</p><p>rests</p><p>-22,8</p><p>30</p><p>25,3</p><p>04</p><p>2,4</p><p>74</p><p>22,4</p><p>90</p><p>24,9</p><p>64</p><p>Purc</p><p>hase o</p><p>f non-c</p><p>ontr</p><p>olli</p><p>ng inte</p><p>rests</p><p> without change in c</p><p>ontr</p><p>ol</p><p>-9,0</p><p>80</p><p>-9,0</p><p>80</p><p>-481</p><p>-9,5</p><p>60</p><p>Equity-s</p><p>ettle</p><p>d s</p><p>hare</p><p>-based p</p><p>aym</p><p>ents</p><p> (IF</p><p>RS</p><p> 2)</p><p>33, 39</p><p>55,3</p><p>18</p><p>55,3</p><p>18</p><p>-1,4</p><p>22</p><p>53,8</p><p>95</p><p>Oth</p><p>er </p><p>changes</p><p>46</p><p>46</p><p>046</p><p>12,0</p><p>10</p><p>622,8</p><p>33</p><p>-130,8</p><p>70</p><p>36,7</p><p>28</p><p>540,7</p><p>01</p><p>39,5</p><p>50</p><p>580,2</p><p>51</p><p>Dec 3</p><p>1, 2015</p><p>165,1</p><p>41</p><p>3,1</p><p>05,4</p><p>77</p><p>883,9</p><p>12</p><p>123,8</p><p>44</p><p>4,2</p><p>78,3</p><p>73</p><p>73,7</p><p>35</p><p>4,3</p><p>52,1</p><p>08</p><p>Loss for </p><p>the p</p><p>eriod</p><p>-697,3</p><p>58</p><p>-697,3</p><p>58</p><p>-44,

Recommended

View more >