2018 Integrated Interim Report – Departure into a new era!

Equity almost unchanged 

Balance sheet(€ million)

Jun 30,

Dec 31,




Total assets



+ 1,719

+ 3.0


Non-current assets 



+ 685

+ 1.5

Current assets



+ 1,034

+ 9.6

Equity and liabilities




– 95

– 0.7

Non-current liabilities



+ 669

+ 2.4

Current liabilities



+ 1,145

+ 7.8

CHART 2767
CHART 2768

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

Total assets rose slightly:

  • Non-current assets were slightly higher. The increase in property, plant and equipment (+553 million) resulting from the acquisition of vehicles by DB Long-Distance was particularly decisive here. In addition, deferred tax assets increased (+96 million) as a result of improved tax earnings expectations of DB AG compared to the end of 2017.
  • The rise in current assets was mainly attributable to the increase in trade receivables (+315 million) and other current receivables and assets (+310 million), particularly at DB Schenker and DB Sales. Cash and cash equivalents also increased (+276 million).

In structural terms this did not result in any material change on the asset side.

Equity fell slightly on the liabilities side. Increasing effects mainly resulted from the generated net profit (+562 million) and the increase in the changes recognized in the reserves in connection with volatility of hedge transactions (+74 million). This was partly offset mainly by the dividend payment to the Federal Government (450 million) and the interest-related changes to the changes recognized in the reserves in connection with the revaluation of pensions (294 million).

The equity ratio also fell slightly as a result of the increased total assets.

  • Non-current liabilities increased as a result of:
    • higher non-current financial debt(+539 million) as a result of the issue of new bonds and an increase in pension obligations (+329 million) as a result of a slight decline in the revaluation rate.
    • In contrast, other provisions (89 million) and deferred income (89 million) declined.
  • Current liabilities increased even more. This was primarily the result of the following:
    • increased current financial debt (+853 million) as a result of the issue of commercial paper,
    • higher deferred income (+160 million) and
    • increased current other liabilities (+115 million), among others due to seasonal staffing effects.

In structural terms of equity and liabilities, the ratio of current liabilities has increased as a result. The share of non-­current liabilities was almost unchanged.

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