Net financial debt
|NET FINANCIAL DEBT|
/ € million
|Other financial debt|
Cash and cash equivalents and
Effects from currency hedges
Net financial debt
Net financial debt increased slightly as of June 30, 2022. This resulted from a demand for funds, particularly in the Integrated Rail System. A significantly improved but still tense profit situation in the Integrated Rail System and a simultaneously strong funding need for capital expenditures could only be partially offset by the positive profit development at DB Schenker.
- Financial debt increased slightly:
- The euro value of the outstanding senior bonds was somewhat higher due to issues. Exchange rate effects did not play a key role here as a result of closed hedging transactions.
- Leasing liabilities fell slightly due to repayments. The conclusion of new leasing contracts and the extension of existing leasing contracts had a partially offsetting effect.
- Interest-free loans fell as a result of redemptions.
- Other financial debt fell significantly, due in part to the repayment of short-term bank borrowings.
- The foreign currency senior bonds are almost entirely hedged by corresponding derivatives against exchange rate fluctuations so that exchange rate effects are mainly compensated through the offsetting position of the hedging transaction.
- Net financial debt increased as cash and cash equivalents decreased alongside the increase in financial debt.
The maturity structure and the composition of financial debt had not substantially changed:
- Current financial debt (up to one year) fell slightly as a result of redemptions. In contrast, the share of financial debt with a maturity of one to five years increased.
- The composition of the financial debt shifted slightly toward senior bonds. The share of bank borrowings was down as a result of redemptions. The share of leasing liabilities also declined.