|Net financial debt (€ million)|
Other financial debt
Cash and cash equivalents and receivables from financing
Effects from currency hedges
|Net financial debt|
Net financial debt increased significantly as of June 30, 2021.This resulted from a net requirement for financial resources, mainly as a result of weak profit development due to the Covid-19 pandemic, while at the same time there is a high funding need for capital expenditures. In contrast, the development of income at DB Schenker and the non-payment of dividend payments to the Federal Government had a dampening effect.
- Financial debt increased noticeably:
- The value in euros of the outstanding senior bonds
- was significantly higher due to issues. Exchange rate effects did not play a key role here as a result of closed hedging transactions.
- Leasing liabilities and interest-free loans decreased as a result of repayments.
- Commercial paper liabilities increased significantly due to issues.
- Other financial debt increased slightly, mainly as a result of a slight increase in the balance from the repayment and absorption of short-term bank debts, mainly due to the continued need for interim financing of the measures planned by the Federal Government to partly compensate for losses due to the Covid-19 pandemic.
- Our foreign currency senior bonds are mainly hedged against exchange rate fluctuations by means of corresponding derivatives, so that exchange rate effects are largely offset by the corresponding counter-position of the hedging transaction.
- Cash and cash equivalents fell slightly, with the result that net financial debt increased a touch more.