Deutsche Post DHL Annual Report 2014

2014 Annual Report

CONSOLIDATED FINANCIAL STATEMENTS

Excerpts from Deutsche Post AG's 2014 Group Annual Report.

Income Statement

1 January to 31 DecemberXLS
€m
   
Note
  2013
adjusted1
  2014
Revenue   11   54,912   56,630
Other operating income   12   1,962   2,016
Total operating income       56,874   58,646

Materials expense
 
13
 
–31,038
 
–32,042
Staff costs   14   –17,776   –18,189
Depreciation, amortisation and impairment losses   15   –1,337   –1,381
Other operating expenses   16   –3,863   –4,074
Total operating expenses       –54,014   –55,686

Net income from investments accounted for using the equity method
 
17
 
5
 
5
Profit from operating activities (EBIT)      
2,865
 
2,965
Financial income       182   74
Finance costs       –432   –423
Foreign currency result       –43   –39
Net finance costs  
18
 
–293
 
–388
Profit before income taxes      
2,572
 
2,577
Income taxes   19   –361   –400
Consolidated net profit for the period  
20
 
2,211
 
2,177
attributable to Deutsche Post AG shareholders       2,091   2,071
attributable to non-controlling interests   21   120   106
Basic earnings per share (€)  
22
 
1.73
 
1.71
Diluted earnings per share (€)  
22
 
1.66
 
1.64
  1. 1 Note 4.

Statement of Comprehensive Income

1 January to 31 DecemberXLS
€m
   
Note
  2013
adjusted1
  2014
Consolidated net profit for the period   20   2,211   2,177
Items that will not be reclassified to profit or loss            
Change due to remeasurements of net pension provisions       –50   –2,350
IFRS 3 revaluation reserve       –1   –2
Other changes in retained earnings       1   2
Income taxes relating to components of other comprehensive income   19   36   285
Share of other comprehensive income of investments accounted for using the equity method (after tax)      
0
 
0
Total (after tax)       –14   –2,065
Items that may be subsequently reclassified to profit or loss            
IAS 39 revaluation reserve            
Changes from unrealised gains and losses       77   112
Changes from realised gains and losses       0   0
IAS 39 hedging reserve            
Changes from unrealised gains and losses       111   –73
Changes from realised gains and losses       –49   –19
Currency translation reserve            
Changes from unrealised gains and losses       –461   454
Changes from realised gains and losses       1   0
Income taxes relating to components of other comprehensive income   19   –26   17
Share of other comprehensive income of investments accounted for using the equity method (after tax)       –1   4
Total (after tax)       –348   495
Other comprehensive income (after tax)      
–362
 
–1,570
Total comprehensive income      
1,849
 
607
attributable to Deutsche Post AG shareholders       1,739   488
attributable to non-controlling interests       110   119
  1. 1 Note 4.

Balance Sheet

 XLS
€m
   
Note
  1 Jan. 2013
adjusted1
  31 Dec. 2013
adjusted1
  31 Dec. 2014
ASSETS                
Intangible assets   24   12,146   11,832   12,352
Property, plant and equipment   25   6,652   6,800   7,177
Investment property   26   43   33   32
Investments accounted for using the equity method   27   66   68   75
Non-current financial assets   28   1,038   1,123   1,363
Other non-current assets   29   301   187   151
Deferred tax assets   30   1,328   1,327   1,752
Non-current assets      
21,574
 
21,370
 
22,902

Inventories
 
31
 
321
 
402
 
332
Current financial assets   32   252   821   351
Trade receivables   33   6,940   7,022   7,825
Other current assets   34   2,155   2,223   2,415
Income tax assets   35   127   167   172
Cash and cash equivalents   36   2,395   3,414   2,978
Assets held for sale   37   76   42   4
Current assets      
12,266
 
14,091
 
14,077
Total assets      
33,840
 
35,461
 
36,979
EQUITY AND LIABILITIES                
Issued capital   38   1,209   1,209   1,210
Capital reserves   39   2,254   2,269   2,339
Other reserves   40   –474   –817   –341
Retained earnings   41   6,017   7,183   6,168
Equity attributable to Deutsche Post AG shareholders   42   9,006   9,844   9,376
Non-controlling interests   43   207   190   204
Equity      
9,213
 
10,034
 
9,580

Provisions for pensions and similar obligations
 
44
 
5,216
 
5,016
 
7,226
Deferred tax liabilities   30   156   124   84
Other non-current provisions   45   1,954   1,589   1,556
Non-current provisions       7,326   6,729   8,866

Non-current financial liabilities
 
46
 
4,421
 
4,619
 
4,683
Other non-current liabilities   47   276   227   255
Non-current liabilities       4,697   4,846   4,938
Non-current provisions and liabilities      
12,023
 
11,575
 
13,804

Current provisions
 
45
 
1,667
 
1,752
 
1,545

Current financial liabilities
 
46
 
410
 
1,335
 
486
Trade payables   48   5,960   6,358   6,922
Other current liabilities   47   4,003   3,978   4,196
Income tax liabilities   35   534   429   446
Liabilities associated with assets held for sale   37   30   0   0
Current liabilities       10,937   12,100   12,050
Current provisions and liabilities      
12,604
 
13,852
 
13,595
Total equity and liabilities      
33,840
 
35,461
 
36,979
  1. 1 Note 4.

Cash Flow Statement

1 January to 31 DecemberXLS
€m
   
Note
  2013
adjusted1
  2014
Consolidated net profit for the period attributable to Deutsche Post AG shareholders       2,091   2,071
Consolidated net profit for the period attributable to non-controlling interests       120   106
Income taxes       361   400
Net finance costs       293   388
Profit from operating activities (EBIT)       2,865   2,965
Depreciation, amortisation and impairment losses       1,337   1,381
Net income from disposal of non-current assets       –22   –11
Non-cash income and expense       12   –4
Change in provisions       –500   –698
Change in other non-current assets and liabilities       –53   –25
Dividend received       0   1
Income taxes paid       –561   –548
Net cash from operating activities before changes in working capital       3,078   3,061
Changes in working capital            
Inventories       –104   106
Receivables and other current assets       –670   –814
Liabilities and other items       685   687
Net cash from operating activities   49.1   2,989   3,040

Subsidiaries and other business units
     
32
 
4
Property, plant and equipment and intangible assets       177   200
Investments accounted for using the equity method and other investments       0   0
Other non-current financial assets       32   118
Proceeds from disposal of non-current assets       241   322

Subsidiaries and other business units
     
–37
 
–5
Property, plant and equipment and intangible assets       –1,381   –1,750
Investments accounted for using the equity method and other investments       0   –1
Other non-current financial assets       –68   –103
Cash paid to acquire non-current assets       –1,486   –1,859

Interest received
     
55
 
45
Current financial assets       –575   405
Net cash used in investing activities   49.2   –1,765   –1,087

Proceeds from issuance of non-current financial liabilities
     
1,010
 
43
Repayments of non-current financial liabilities       –34   –1,030
Change in current financial liabilities       35   –53
Other financing activities       39   –5
Proceeds from transactions with non-controlling interests       1   0
Cash paid for transactions with non-controlling interests       –21   –34
Dividend paid to Deutsche Post AG shareholders       –846   –968
Dividend paid to non-controlling interest holders       –109   –90
Purchase of treasury shares       –23   –85
Proceeds from issuing shares or other equity instruments       4   62
Interest paid       –166   –188
Net cash used in financing activities   49.3   –110   –2,348
Net change in cash and cash equivalents      
1,114
 
–395
Effect of changes in exchange rates on cash and cash equivalents       –102   –42
Changes in cash and cash equivalents associated with assets held for sale       7   0
Changes in cash and cash equivalents due to changes in consolidated group       0   1
Cash and cash equivalents at beginning of reporting period       2,395   3,414
Cash and cash equivalents at end of reporting period   49.4   3,414   2,978
  1. 1 Note 4.

Statement of Changes in Equity

1 January to 31 DecemberXLS
€m
   

Issued capital
      Other reserves  

Retained earnings
 

Equity
attributable to
Deutsche Post AG
shareholders
 

Non-
controlling interests
 

Total equity
   
Capital reserves
 
IFRS 3
revaluation reserve
 
IAS 39
revaluation reserve
 
IAS 39
hedging reserve
 
Currency
translation reserve
Note   38   39   40.1   40.2   40.3   40.4   41   42   43    
Balance at 1 January 2013   1,209   2,254   3   –1   –7   –470   6,031   9,019   209   9,228
Adjustment1   0   0   0   0   0   1   –14   –13   –2   –15

Balance at 1 January 2013, adjusted
 
1,209
 
2,254
 
3
 
–1
 
–7
 
–469
 
6,017
 
9,006
 
207
 
9,213

Capital transactions
with owner

Dividend
 


0
 


0
 


0
 


0
 


0
 


0
 


–846
 


–846
 


–111
 


–957
Transactions with non-controlling
interests
 
0
 
0
 
0
 
0
 
0
 
–5
 
–62
 
–67
 
–18
 
–85
Changes in non-controlling
interests due to changes in
consolidated group
 

0
 

0
 

0
 

0
 

0
 

0
 

0
 

0
 

–3
 

–3
Issue of shares or other
equity instruments
 
0
 
0
 
0
 
0
 
0
 
0
 
0
 
0
 
5
 
5
Purchase of treasury shares   –1   0   0   0   0   0   –22   –23   0   –23
Share-based payment (issuance)   0   35   0   0   0   0   0   35   0   35
Share-based payment (exercise)   1   –20   0   0   0   0   19   0   0   0
                                –901   –127   –1,028

Total comprehensive income
Consolidated net profit
for the period
 


0
 


0
 


0
 


0
 


0
 


0
 


2,091
 


2,091
 


120
 


2,211
Currency translation differences   0   0   0   0   0   –450   0   –450   –11   –461
Change due to remeasurements of
net pension provisions
 
0
 
0
 
0
 
0
 
0
 
0
 
–15
 
–15
 
1
 
–14
Other changes   0   0   –1   69   44   0   1   113   0   113
                                1,739   110   1,849
Balance at 31 December 2013,
adjusted1
 
1,209
 
2,269
 
2
 
68
 
37
 
–924
 
7,183
 
9,844
 
190
 
10,034

Balance at 1 January 2014
 
1,209
 
2,269
 
2
 
68
 
37
 
–924
 
7,183
 
9,844
 
190
 
10,034

Capital transactions
with owner

Dividend
 


0
 


0
 


0
 


0
 


0
 


0
 


–968
 


–968
 


–101
 


–1,069
Transactions with non-controlling
interests
 
0
 
0
 
0
 
0
 
0
 
0
 
–6
 
–6
 
–15
 
–21
Changes in non-controlling
interests due to changes in
consolidated group
 

0
 

0
 

0
 

0
 

0
 

0
 

0
 

0
 

5
 

5
Issue of shares or other
equity instruments
 
2
 
54
 
0
 
0
 
0
 
0
 
0
 
56
 
6
 
62
Purchase of treasury shares   –3   0   0   0   0   0   –82   –85   0   –85
Share-based payment (issuance)   0   47   0   0   0   0   0   47   0   47
Share-based payment (exercise)   2   –31   0   0   0   0   29   0   0   0
                                –956   –105   –1,061

Total comprehensive income
Consolidated net profit for the period
 


0
 


0
 


0
 


0
 


0
 


0
 


2,071
 


2,071
 


106
 


2,177
Currency translation differences   0   0   0   0   0   441   0   441   17   458
Change due to
remeasurements of
net pension provisions
 

0
 

0
 

0
 

0
 

0
 

0
 

–2,061
 

–2,061
 

–4
 

–2,065
Other changes   0   0   –2   102   –65   0   2   37   0   37
                                488   119   607
Balance at 31 December 2014   1,210   2,339   0   170   –28   –483   6,168   9,376   204   9,580
  1. 1 Note 4.

Notes

The Notes are available as a PDF file.

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© 2015 Deutsche Post AG
Deutsche Post DHL

2014 Annual Report

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