The consolidated financial statements of Franz Haniel & Cie. GmbH, Duisburg, for the year ended 31 December 2014 have been prepared in accordance with the mandatory International Financial Reporting Standards (IFRSs) in effect on the reporting date and adopted by the Commission of the European Union, and in accordance with the supplementary requirements applicable under Section 315a (1) HGB (Handelsgesetzbuch, German Commercial Code). These consolidated financial statements were prepared by the Management Board on 5 March 2015. They were approved by the Supervisory Board at their meeting on 10 April 2015.
At the end of October 2013, Haniel resolved to sell Celesio, at that time its largest fully consolidated division, to further develop its investment portfolio. The sale was completed as at 6 February 2014. All assets and liabilities of the Celesio division are presented separately in the statement of financial position as at 31 December 2013 in the lines assets held for sale and liabilities held for sale. In the income statement, the income and expenses realised by Celesio up to the disposal date and the gain on disposal are presented as a single line item as profit after taxes from discontinued operations. Up to Celesio’s disposal date the incoming and outgoing payments of the discontinued operations are presented together with the corresponding payments of the continuing operations in the statement of cash flows. A detailed description of discontinued operations may be found in notes 11 and 27.
The reporting currency is the euro; figures are shown in EUR million. In rare cases, this can give rise to rounding differences. For enhanced transparency of presentation, certain items in the statement of financial position and the income statement have been combined. These are explained in the notes. In accordance with IAS 1, the statement of financial position has been classified into non-current and current items. The income statement has been prepared using the nature of expense method.