DHL 2015 Annual Report Download - page 71
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Deutsche Post Group — Annual Report
decrease was attributable to a large number of minor factors. e reasons for the
million increase in cash and cash equivalents to , million are described in
the section entitled Financial position.
At , million, equity attributable to Deutsche Post shareholders was
, million higher than at December (, million). Consolidated net
prot for the period, the increased discount rates applicable to pension provisions and
positive currency eects made a positive contribution, whereas the dividend payment
to our shareholders reduced equity.
Current and non-current liabilities rose slightly from , million to , mil-
lion. e increase related to trade payables in particular; they rose by million to
, million, due mainly to exchange rate movements. Other current liabilities rose
by million to , million, partly due to a rise in liabilities to employees. At
, million, nancial liabilities barely changed from the , million recorded as
at December :while non-current nancial liabilities declined by million to
, million, current nancial liabilities rose by million to million. At
, million, current and non-current provisions were signicantly down on the gure
of , million as at December : actuarial gains attributable to a rise in inter-
est rates led to a decline in provisions for pensions.
Net debt drops to , million
Our net debt declined sharply from , million as at December to , mil-
lion as at December . e equity ratio improved from . to . . e dy-
namic gearing ratio was . years in nancial year . Net interest cover shows the
extent to which net interest obligations are covered by . It rose from . to ..
Net gearing was . as at December .
Net debt .
m
31 Dec. 2014 31 Dec. 2015
Non-current financial liabilities 4,655 4,578
Current financial liabilities 425 440
Financial liabilities 5,080 5,018
Cash and cash equivalents 2,978 3,608
Current financial assets 351 179
Long-term deposits 1 60 0
Positive fair value of non-current financial derivatives 1 192 138
Financial assets 3,581 3,925
Net debt 1,499 1,093
1 Reported in non-current financial assets in the balance sheet.
Page f.
61
Group Management Report — REPORT ON ECONOMIC POSITION — Financial position — Net assets