Comparability with the first half of 2020
After due consideration is given to the following issues, the financial information presented for the first half of 2021 is comparable with the financial information for the first half of 2020:
Details of major events and transactions
Information regarding major impact of the Covid-19 pandemic on the consolidated interim financial statements
As was the case in the first half of 2020, the first half of 2021 also experienced considerable effects arising from the Covid-19 pandemic. Whereas revenues improved in virtually all segments, the pre-Covid-19 level was mostly still missed significantly. In the segment DB Schenker however, revenues increased considerably compared with the first half of 2020, namely to € 10,688 million (in the first half of 2020: € 8,463 million), and were also higher than the pre-Covid-19 level. In DB Group, revenues in the first half of 2021 amounted to € 21,784 million (in the first half of 2020: € 19,423 million). For further information please refer to the details regarding revenues from contracts with customers (IFRS 15).
Particularly in connection with the Covid-19 pandemic, provisions have been created for loss-making passenger transport contracts as a result of lower ticket revenues. At DB Regional, the additions as of June 30, 2021, amounted to € 56 million (in the first half of 2020: € 213 million).
Within the framework of various state support programs, grants were extended to companies of DB Group in connection with the Covid-19 pandemic. These grants were extended to individual subsidiaries of DB Group, for instance for maintaining passenger services, particularly in the segments DB Regional and DB Arriva. If they are not concession fees, these grants are disclosed in DB Group mainly under other operating income. In the first half of 2021, income from government grants increased to a total of € 463 million (in the first half of 2020: € 272 million).
Estimated and forecast uncertainties
As a result of the Covid-19 pandemic and also in view of the fact that it is very difficult to foresee the consequences as of June 30, 2021, estimates and forecasts in the first half of 2021 are subject to a particular degree of uncertainty.
This is applicable for instance for determining provisions for loss-making passenger transport contracts, determining the value of doubtful receivables or for assessing possible impairments of assets.
Liquidity management and going-concern assumption
In connection with the financial burdens resulting from the Covid-19 pandemic, short-term funds have been obtained particularly by way of issuing commercial paper, utilizing short-term credit lines as well as issuing senior bonds. In view of the unrestricted access of DB Group to the capital market and the agreed financing commitments for infrastructure capital expenditures as well as the measures planned by the Federal Government with the aim of providing partial compensation for Covid-19 damages, the going-concern assumption for DB Group is assured for the foreseeable future without any restrictions.