Financial Statements of Axel Springer SE

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18 Financial Statements of Axel Springer SE for the period ending December 31, 2018

Content

3

Balance Sheet

4

Income Statement

5

Notes to the Financial

Statements

5

General information

5

Accounting policies

7

Notes to the balance sheet

13 Notes to the income statement

15 Other disclosures

24 Responsibility Statement

25 Independent Auditor's Report

The combined management report of Axel Springer SE and Axel Springer Group is published in the Axel Springer Group's 2018 annual report.

2

Financial Statements 2018 Axel Springer SE

Balance Sheet

millions

Fixed assets

Current assets Prepaid expenses ASSETS

millions

Equity Provisions Liabilities Deferred income EQUITY AND LIABILITIES

Balance Sheet

Note 12/31/2018 12/31/2017

(1)

5,999.9

5,797.3

230.2 5.2

6,235.3

276.4 4.0

6,077.6

Note 12/31/2018 12/31/2017

(4)

2,541.2

2,632.7

(5)

168.6

333.2

(6)

3,497.1

3,086.7

28.4

25.0

6,235.3

6,077.6

3

Financial Statements 2018 Axel Springer SE

Income Statement

millions

Income Statement

Note

2018

2017

Net income Distributable profit

124.3

271.9

226.6

215.8

4

Financial Statements 2018 Axel Springer SE

Notes to the Financial Statements

Notes to the Financial Statements

General information

Axel Springer SE is a European exchange-listed stock corporation (Societas Europaea) with its head office in Berlin, Germany. The company is registered with the commercial register of Berlin-Charlottenburg Local Court under the number HRB 154517 B.

The annual financial statements were prepared in accordance with the provisions of the German Commercial Code (Handelsgesetzbuch, "HGB") and the German Stock Corporation Act (Aktiengesetz, "AktG") in conjunction with Article 61 of Council Regulation (EC) No 2157/2001.

The balance sheet and income statement correspond to the classification requirements of the HGB; the income statement was prepared using the total cost (nature of expense) method. The annual financial statements were prepared in euros (); all amounts are reported in millions unless otherwise indicated. Totals and percentages were calculated based on the non-rounded euro amounts and may differ from a calculation based on the reported amounts in millions of euros. To improve clarity and legibility, individual line items were aggregated in the balance sheet and income statement and then presented separately in the notes to the annual financial statements.

The annual financial statements and the combined management report of the Company and Axel Springer Group will be published in the Federal Gazette.

Accounting policies

Fixed assets

Intangible assets and tangible fixed assets that have been purchased are recognized at cost. Finite-lived assets are depreciated systematically using the straight-line method over the expected useful life. Additional writedowns to the lower fair value on the balance sheet date are charged if the impairment is expected to be permanent.

Systematic depreciation and amortization was based on the following typical useful lives:

in years

Useful life

Non-current financial assets are recognized at acquisition cost or at the lower fair value on the balance sheet date if impairments are expected to be permanent. Since the financial year 2018 write-ups of non-current financial assets are presented under income from non-current financial assets. Previously they were recognized under other operating income and expenses. The prior year's figure has been adjusted by 1.1 million accordingly.

Current assets

Raw materials and supplies as well as merchandise are measured at acquisition cost or the lower fair value on the balance sheet date. Inventory risks associated with the storage period or reduced utility are accounted for through appropriate allowances.

Receivables and other assets are recognized at nominal value or acquisition cost or the lower fair value on the balance sheet date. Individual risks are accounted for through adequate allowances.

Cash and cash equivalents include cash on hand, cash in banks as well as checks and are recognized at nominal value or the lower fair value on the balance sheet date.

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