DHL 2000 Annual Report Download - page 32

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24
Balance sheet total rose considerably
At €150 billion, the consolidated balance sheet total for the Group was
around twice the level of 1999.The integration of DSL bank by merger into
Deutsche Postbank AG was the crucial reason for this considerable balance
sheet extension.
In accordance with IAS, the consolidated balance sheet reflects the indus-
try format.Postbank operations are shown under “Receivables and other
securities from financial services”on the assets side and “Liabilities from
financial services”on the liabilities side.Of the total €137.4 billion in con-
solidated current assets,approx. €131.8 billion,or 96% were generated by
Postbank.There is a similar picture on the liabilities side where Postbank,
after consolidation,represents €127.7 billion in liabilities or 94.5% of the
consolidated liabilities totaling €135.1 billion.
As the Postbank group’s business activities differ considerably from Deutsche
Post World Net’s other ordinary operations,financial statements are present-
ed in addition to the consolidated financial statements,in which the Post-
bank group is not included as a subsidiary.Instead, the Postbank group is
included at equity so that neither the Postbank group’s assets and liabilities
are contained in the balance sheet nor its expenses and revenues in the in-
come statement.The balance sheet total in the consolidated balance sheet
(Postbank at equity) rose from €18.1 billion to €21.2 billion.
Healthy equity trends
Shareholders’equity increased in financial year 2000 by €1.4 billion to
€4 billion. This resulted essentially from the €488 million increase in
net profit for the period to achieve €1,512 million. €179 million of the
previous year’s profits of €1,024 million was disbursed in dividends,leav-
ing €845 million to be added to reserves.Furthermore,the changes in the
earnings reserves were characterized largely by the initial consolidation of
the Deutsche Postbank AG special funds and differences arising from cur-
rency conversion.Return on equity (average equity,earnings before tax
(EBT)) was 62.1% in financial year 2000 (1999:35.8%).
18
* Restated in accordance with IAS 22.
Balance sheet total
in billions
75
Consolidated balance sheet Postbank at equity
1999*
2000
15 0
21
Equity
in billions
2.56
1999 2000
4.00
+ 56%