Financial situation
Balance sheet
| Balance sheet structure € million or % | Jun 30, 2011 | Dec 31, 2010 | Change absolute | Change % |
| Total assets | 52,053 | 52,003 | + 50 | + 0.1 |
| ASSET SIDE | ||||
| Non-current assets | 43,961 | 44,530 | - 569 | - 1.3 |
| Current assets | 8,092 | 7,473 | + 619 | + 8.3 |
| EQUITY AND LIABILITIES | ||||
| Equity | 14,408 | 14,316 | + 92 | + 0.6 |
| Non-current liabilities | 24,572 | 24,762 | - 190 | - 0.8 |
| Current liabilities | 13,073 | 12,925 | + 148 | + 1.1 |
| ASSET SIDE STRUCTURE | ||||
| Non-current assets | 84.5 % | 85.6 % | - | - |
| Current assets | 15.5 % | 14.4 % | - | - |
| EQUITY AND LIABILITIES STRUCTURE | ||||
| Equity | 27.7 % | 27.5 % | - | - |
| Non-current liabilities | 47.2 % | 47.6 % | - | - |
| Current liabilities | 25.1 % | 24.9 % | - | - |
The consolidated financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS). There have been no major changes in the IFRS regulations, and there have also not been any changes to the consolidation and accounting principles of the Group. Accordingly, these aspects have not resulted in any changes in relation to the consolidated financial statements in the period under review. Changes relating to the scope of consolidation did not have any major effect in the period under review on the development of the balance sheet ratios.
Total assets increased by € 50 million (+ 0.1 %) as of June 30, 2011, to € 52,053 million (as of December 31, 2010: € 52,003 million).
The non-current assets of € 43,961 million were € 569 million lower than the corresponding previous year figure (- 1.3 %) (as of December 31, 2010: € 44,530 million). This was mainly due to the decline in property, plant and equipment from € 37,873 million as of December 31, 2010 to € 37,421 million as of June 30, 2011.
This was opposed by a strong increase in current assets as of June 30, 2011 (+ 8.3 % or € + 619 million to € 8,092 million; as of December 31, 2010: € 7,473 million). This was due to an increase in trade accounts receivable in the DB Schenker Rail and DB Schenker Logistics business units.
In structural terms, this has resulted in a slight shift in the direction of current assets.
On the liabilities side of the balance sheet, the main changes as of June 30, 2011 related to equity and financial debt. Equity increased by € 92 million (plus 0.6 %) mainly as a result of the profits which were generated – less the dividend payment. Accordingly, the equity ratio also increased by 0.2 percentage points.
Within non-current liabilities, the non-current financial debt declined by € 87 million, and the deferred items declined by € 117 million mainly as a result of an early repayment of non-current interest-free Federal loans [see "Related Topic"].
Current liabilities as of June 30, 2011 increased by € 148 million (+ 1.1 %) compared with December 31, 2010. The increase is attributable to the increase in current financial debt (€ + 535 million).
Overall, financial debt [see "Related Topic"] increased by € 448 million (+ 2.4 %).
In the structure of liabilities, the percentage of non-current liabilities in relation to the balance sheet total declined slightly by 0.4 percentage points as of June 30, 2011. On the other hand, the percentage of current liabilities as of June 30, 2011 increased by 0.2 percentage points.
Last modified: 28.07.2011