Print page

Print with imagesPrint without images

Balance sheet

 

Balance sheet (€ million)

Jun 30,
2020

Dec 31,
2020

Change

Dec 31,
2019

absolute

%

 Total assets

67,285

65,435

+1,850

+2.8

65,828

ASSETS

     
Non-current assets

53,909

52,964

+945

+1.8

53,213

Current assets

13,376

12,471

+905

+7.3

12,615

EQUITY AND LIABILITIES     
Equity

7,274

7,270

+4

+0.1

14,927

Non-current liabilities

37,794

37,686

+108

+0.3

32,820

Current liabilities

22,217

20,479

+1,738

+8.5

18,081

 

There were no material changes to the International Financial Reporting Standards (IFRS) regulations for DB Group’s consolidation and accounting principles that would result in any changes to the consolidated financial statements.

Total assets were slightly above the level at the end of the previous year:

  • Non-current assets increased slightly, driven by property, plant and equipment (€ +803 million), mainly due to vehicle additions at DB Long-Distance, DB Regional and DB Cargo. This was supported by the increase in receivables and other assets (€ +72 million), partly as a result of higher receivables from plan assets at DB Arriva and an increase in intangible assets (€ +45 million).
  • Current assets increased significantly. An increase in trade receivables (€ +765 million), mainly due to the business development at DB Schenker, was especially significant. Inventories also increased (€ +118 million), primarily for vehicle maintenance.

In structural terms, this did not result in any major changes on the asset side.

On the equity and liabilities side, equity remained virtually unchanged compared to the end of the previous year. The net loss (€ –1,443 million) was more than offset by counter-­effects. This was mainly due to an increase in the changes recorded in the reserves in connection with the revaluation of pensions (€ +1,318 million).

The virtually stable equity level led to a slight decline in the equity ratio with a slightly higher balance sheet total.

  • Non-current liabilities were almost at the same level as at the end of the previous year. The following effects largely compensated for this:
    • higher non-current financial debt (€ +1,668 million),
    • a decline in pension obligations (€ –1,174 million) mainly as a result of an increased interest rate in the revaluation, and
    • lower remaining liabilities (€ –359 million).
  • Current liabilities, on the other hand, increased signifi­cant­­­ly. In essence, this development was characterized by:
    • increased current financial debt (€ +974 million). The main drivers were an increase in commercial paper (€ +1,050 million) due to issuance as well as higher short-term bank loans (€ +96 million). In particular, lower volume of bonds due in the short-term (€ –93 million) and lower leasing liabilities (€ –72 million) due to repayments had a dampening effect,
    • an increase in other liabilities (€ +403 million), and
    • higher trade liabilities, mainly due to reporting-date-­related effects (€ +360 million), especially at DB Schenker.

In the structure of the equity and liabilities side, there was an immaterial shift in favor of short-term debt capital.