DHL 2004 Annual Report Download - page 65
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Balance sheet structure
(Postbank at equity)
Dec. 31, 2003
in € m
Dec. 31, 2003
in %
Dec. 31, 2004
in € m
Dec. 31, 2004
in %
Assets
Intangible assets 6,236 22.3 6,677 22.5
Property, plant and equipment 7,857 28.1 7,513 25.4
Noncurrent financial assets 5,579 20.0 3,869 13.1
Total noncurrent assets 19,672 70.4 18,059 61.0
Inventories 215 0.8 224 0.8
Trade receivables 3,531 12.6 3,895 13.1
Other assets 1,767 6.3 2,229 7.5
Cash and cash equivalents
including current financial instruments 2,408 8.6 4,969 16.8
Total current assets 7,921 28.3 11,317 38.2
Deferred tax assets 352 1.3 244 0.8
Total assets 27,945 100.0 29,620 100.0
Equity and liabilities
Equity 6,106 21.8 7,217 24.4
Minority interest 45 0.2 39 0.1
Total equity 6,151 22.0 7,256 24.5
Provisions 10,970 39.3 10,449 35.3
Financial liabilities 4,808 17.2 5,289 17.9
Trade payables 2,667 9.5 3,176 10.7
Other liabilities 3,349 12.0 3,450 11.6
Total liabilities 21,794 78.0 22,364 75.5
Total equity and liabilities 27,945 100.0 29,620 100.0
Working capital as of December 31, 2004, changed from € –503 million to € –278 million.
It comprises the following balance sheet items: inventories, trade receivables, other assets
after deduction of trade payables and other liabilities.
Selected indicators for financial position
(Postbank at equity)
in € m
Jan. 1 to
Dec. 31, 2003
Jan. 1 to
Dec. 31, 2004
Change in cash and cash equivalents 311 2,448
Net profit before changes in working capital 2,811 2,850
Net cash from operating activities 2,491 2,578
Net cash used in (from) investing activities – 1,887 357
Net cash used in financing activities – 244 – 519
Business Developments
61
Group Management ReportGroup Management ReportConsolidated Financial StatementsAdditional Information