Deutsche Post DHL Annual Report 2012

Annual Report 2012

Seal: DHL in China

Consolidated Financial Statements

Excerpts from Deutsche Post AG's 2012 Group Annual Report.

Income Statement

1 January to 31 December XLS
€m
Note 2011 2012
Revenue 10 52,829 55,512
Other operating income 11 2,050 2,168
Total operating income 54,879 57,680

Materials expense

12

–30,544

–31,863
Staff costs 13 –16,730 –17,770
Depreciation, amortisation and impairment losses 14 –1,274 –1,339
Other operating expenses 15 –3,895 –4,043
Total operating expenses –52,443 –55,015

Profit from operating activities (EBIT)

2,436

2,665
Net income from associates 16 60 2
Other financial income 590 657
Other finance costs –1,391 –1,049
Foreign currency result –36 –37
Net other finance costs 17 –837 –429

Net finance costs

–777

–427

Profit before income taxes

1,659

2,238
Income taxes 18 –393 –458

Consolidated net profit for the period

19

1,266

1,780
attributable to Deutsche Post AG shareholders  1,163 1,658
attributable to non-controlling interests 20 103 122

Basic earnings per share (€)

21

0.96

1.37

Diluted earnings per share (€)

21

0.96

1.32


Statement of Comprehensive Income

1 January to 31 December XLS
€m
Note 2011 2012
Consolidated net profit for the period 1,266 1,780
Currency translation reserve
Changes from unrealised gains and losses 193 7
Changes from realised gains and losses –26 3
Other changes in retained earnings
Changes from unrealised gains and losses 1 2
Changes from realised gains and losses 0 0
IAS 39 hedging reserve
Changes from unrealised gains and losses –5 –23
Changes from realised gains and losses 2 59
IAS 39 revaluation reserve
Changes from unrealised gains and losses –7 –12
Changes from realised gains and losses 0 0
IFRS 3 revaluation reserve
Changes from unrealised gains and losses –1 –2
Changes from realised gains and losses 0 0
Income taxes relating to components of other comprehensive income 18 –1 –7
Share of other comprehensive income of associates (after tax) 10 –37
Other comprehensive income (after tax)
166

–10
Total comprehensive income
1,432

1,770
attributable to Deutsche Post AG shareholders 1,331 1,650
attributable to non-controlling interests 101 120


Balance Sheet

XLS
€m

Note
31 Dec.
2011
31 Dec.
2012
ASSETS
Intangible assets 23 12,196 12,151
Property, plant and equipment 24 6,493 6,663
Investment property 25 40 43
Investments in associates 26 44 46
Non-current financial assets 27 729 1,039
Other non-current assets 28 570 633
Deferred tax assets 29 1,153 1,257

Non-current assets

21,225

21,832

Inventories

30

273

322
Income tax assets 31 239 127
Receivables and other current assets 32 9,089 9,112
Current financial assets 33 2,498 252
Cash and cash equivalents 34 3,123 2,400
Assets held for sale 35 1,961 76

Current assets

17,183

12,289

Total ASSETS

38,408

34,121
EQUITY AND LIABILITIES
Issued capital 36 1,209 1,209
Other reserves 37 1,714 1,786
Retained earnings 38 8,086 8,956
Equity attributable to Deutsche Post AG shareholders 39 11,009 11,951
Non-controlling interests 40 190 213

Equity

11,199

12,164

Provisions for pensions and similar obligations

41

4,445

2,442
Deferred tax liabilities 29 255 229
Other non-current provisions 42 2,174 1,972
Non-current provisions 6,874 4,643

Non-current financial liabilities

43

1,366

4,413
Other non-current liabilities 44 347 276
Non-current liabilities 1,713 4,689

Non-current provisions and liabilities

8,587

9,332

Current provisions

42

2,134

1,663

Current financial liabilities

43

5,644

403
Trade payables 45 6,168 5,991
Income tax liabilities 31 570 534
Other current liabilities 44 4,106 4,004
Liabilities associated with assets held for sale 35 0 30
Current liabilities 16,488 10,962

Current provisions and liabilities

18,622

12,625
Total EQUITY AND LIABILITIES
38,408

34,121


Cash Flow Statement

1 January to 31 December XLS
€m
Note 2011 2012
Consolidated net profit for the period attributable to Deutsche Post AG shareholders 1,163 1,658
Consolidated net profit for the period attributable to non-controlling interests 103 122
Income taxes 393 458
Net other finance costs 837 429
Net income from associates –60 –2
Profit from operating activities (EBIT) 2,436 2,665
Depreciation, amortisation and impairment losses 1,274 1,339
Net income from disposal of non-current assets –54 –74
Non-cash income and expense –7 –97
Change in provisions –897 –3,034
Change in other non-current assets and liabilities –63 –53
Income taxes paid –455 –527
Net cash from operating activities before changes in working capital 2,234 219

Changes in working capital
Inventories –37 –51
Receivables and other current assets –406 –221
Liabilities and other items 580 –150
Net cash from/used in operating activities 46.1 2,371 –203

Subsidiaries and other business units

58

39
Property, plant and equipment and intangible assets 211 225
Other non-current financial assets 16 35
Proceeds from disposal of non-current assets 285 299

Subsidiaries and other business units

–84

–57
Property, plant and equipment and intangible assets –1,716 –1,639
Other non-current financial assets –80 –336
Cash paid to acquire non-current assets –1,880 –2,032

Interest received

72

46
Dividend received 0 0
Current financial assets 394 –10
Net cash used in investing activities 46.2 –1,129 –1,697

Proceeds from issuance of non-current financial liabilities

18

3,176
Repayments of non-current financial liabilities –338 –773
Change in current financial liabilities –97 –50
Other financing activities –60 31
Proceeds from transactions with non-controlling interests and venturers 0 49
Cash paid for transactions with non-controlling interests –1 –62
Dividend paid to Deutsche Post AG shareholders –786 –846
Dividend paid to non-controlling interest holders –99 –78
Purchase of treasury shares –21 –26
Proceeds from issuing shares or other equity instruments 0 74
Interest paid –163 –296
Net cash used in/from financing activities 46.3 –1,547 1,199

Net change in cash and cash equivalents

–305

–701
Effect of changes in exchange rates on cash and cash equivalents 13 –15
Changes in cash and cash equivalents associated with assets held for sale 0 –7
Changes in cash and cash equivalents due to changes in consolidated group 0 0
Cash and cash equivalents at beginning of reporting period 3,415 3,123
Cash and cash equivalents at end of reporting period 46.4 3,123 2,400


Statement of Changes in Equity

1 January to 31 December XLS
€m
Other reserves




Issued capital



Retained
earnings
Equity attributable
to Deutsche
Post AG shareholders



Non-controlling interests



Total equity



Capital reserves


IAS 39 revaluation
reserve 1


IAS 39 
hedging
reserve 1


IFRS 3
revaluation
reserve


Currency
translation
reserve
Note 36 37 37 37 37 37 38 39 40
Balance at 1 January 2011 1,209 2,158 86 –33 6 –682 7,767 10,511 185 10,696
Capital transactions with owner
Dividend 0 0 0 0 0 0 –786 –786 –99 –885
Transactions with non-controlling interests 0 0 0 0 0 0 –59 –59 0 –59
Changes in non-controlling interests due to changes in consolidated group
0

0

0

0

0

0

0

0

3

3
Purchase of treasury shares –2 0 0 0 0 0 –20 –22 0 –22
Share Matching Scheme (issuance) 0 33 0 0 0 0 0 33 0 33
Share Matching Scheme (exercise) 2 –21 0 0 0 0 20 1 0 1
–833 –96 –929
Total comprehensive income
Consolidated net profit for the period 0 0 0 0 0 0 1,163 1,163 103 1,266
Currency translation differences 0 0 0 0 0 165 0 165 –2 163
Other changes 0 0 4 –1 –1 0 1 3 0 3
1,331 101 1,432
Balance at 31 December 2011 1,209 2,170 90 –34 5 –517 8,086 11,009 190 11,199
Balance at 1 January 2012
1,209

2,170

90

–34

5

–517

8,086

11,009

190

11,199
Capital transactions with owner
Dividend 0 0 0 0 0 0 –846 –846 –79 –925
Transactions with non-controlling interests 0 0 0 0 0 –2 58 56 –22 34
Changes in non-controlling interests due to changes in consolidated group
0

0

0

0

0

0

0

0

4

4
Issue of shares or other equity instruments 0 74 0 0 0 0 0 74 0 74
Purchase of treasury shares –2 0 0 0 0 0 –24 –26 0 –26
Share Matching Scheme (issuance) 0 34 0 0 0 0 0 34 0 34
Share Matching Scheme (exercise) 2 –24 0 0 0 0 22 0 0 0
–708 –97 –805
Total comprehensive income
Consolidated net profit for the period 0 0 0 0 0 0 1,658 1,658 122 1,780
Currency translation differences 0 0 0 0 0 56 0 56 –2 54
Other changes 0 0 –91 27 –2 0 2 –64 0 –64
1,650 120 1,770
Balance at 31 December 2012 1,209 2,254 –1 –7 3 –463 8,956 11,951 213 12,164
  1. 1 The IAS 39 hedging reserve and IAS 39 revaluation reserve previously presented together in the IAS 39 reserves column are now shown separately to increase transparency.
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