21 0
DEUTSCHE BAHN GROUP
2 0 1 4 I N T EG R AT E D R E P O R T
NOTES TO THE STATEMENT OF INCOME
(2) Inventory changes and internally produced and capitalized assets
The special items detailed at this point are issues which are considered to be unusual either in terms of the amount involved or the actual reason
[€ MILLION]
behind the issue. Irrespective of the amount involved, this item is used
Inventory changes
for disclosing book profits and losses arising from transactions with invest-
2014
2013
–1
–15
Other internally produced and capitalized assets
2,695
2,664
ments/financial investments as well as depreciation on long-term cus-
Total
2,694
2,649
tomer agreements, which have been capitalized as part of the purchase
– Special items
–10
–
price allocation process in connection with company acquisitions. In
– Effects from changes in scope of consolidation
0
–
addition, the special items recognize individual issues if they are of an
– Effects from changes in exchange rates
0
–
exceptional nature, if they are definable for accounting purposes, if they
Total – comparable
2,684
2,649
can be measured and if the amount involved is material. In addition to the special items, effects from changes in the scope of consolidation and
Own investments relate mainly to construction and project business in
in exchange rates are also disclosed separately. The item “Total – com-
rail infrastructure and also the modernization of rolling stock as well as
parable” does not involve IFRS figures; instead, it involves additional
the processing of appropriate spare parts.
disclosures in accordance with internal reporting.
(3) Other operating income (1) Revenues [€ MILLION]
Æ [€ MILLION]
Revenues from services and sale of goods thereof concession fees for rail transport Total – Special items – Effects from changes in scope of consolidation – Effects from changes in exchange rates Total – comparable
2014
2013
39,728
39,107
4,773
4,783
39,728
39,107
–8
12
–107
– 65
180
–
39,793
39,054
2014
2013
SERVICES FOR THIRD PARTIES AND SALE OF MATERIALS
Income from maintenance and repair Sale of materials and energy Other services for third parties
4
4
132
155
464
513
600
672
Leasing and rental income
203
204
Income from claims for damages and cost refunds
230
159
0
–
79
84
Income from creating fixed assets INCOME FROM FEDER AL GR ANTS
In the year under review, revenues increased by € 621 million (+1.6%) to € 39,728 million). This revenue growth compared with the previous year is mainly attributable to DB Arriva, DB Schenker Logistics and the infrastructure companies. At DB Arriva, the higher farebox revenues, currency effects and also the fact that Veolia Eastern Europe was recognized for
Federal compensation payments Other investment grants Income from release of deferred items Other Federal grants
the full year had a positive impact. DB Schenker Logistics has reported
Income from the disposal of property, plant and equipment and intangible assets
performance growth in all lines of business, thus compensating for neg-
Income from disposal of non-current financial instruments
ative currency effects. At Infrastructure, growth in performance, particu-
Income from reversal of provisions
1
4
144
144
151
184
375
416
396
186
61
13
231
416
1
–
larly in the field of stationary energy of DB Energie GmbH, is boosting
Income from the reversal of negative differences
revenues. The revenue development in the year under review has been
OTHER INCOME
negatively affected by the strike action of the GDL trade union and the
Income from third-party fees
32
29
63
66
Ela storm, without which the growth in revenue would have been much
Income from remediation of ecological burdens
more significant. In the DB Bahn Long-Distance segment, the competition
Utilization of provisions for potential losses
121
156
posed by the long-distance bus market and the changed price/perfor-
Miscellaneous other income
511
536
mance perception of customers have had a negative impact on the development in revenues. Adjusted by effects from changes in the scope of consolidation and exchange rates, the increase in revenues was 1.9%. The slight decline in concession fees for rail transport as a result of the GDL strike is attributable to the DB Bahn Regional segment. On the other hand, DB Arriva has reported a slight increase.
Total – Special items – Effects from changes in scope of consolidation – Effects from changes in exchange rates Total – comparable
727
787
2,824
2,853
–279
–25
–3
–14
–10
–
2,532
2,814
The revenues include a figure of € 180 million for negative currency
Other operating income fell slightly by € 29 million compared with the
effects. Whereas DB Arriva and DB Schenker Rail are benefiting from the
previous year. The considerable increase in income from a property sale
strength of sterling, DB Schenker Logistics on the other hand has been
in Great Britain by DB Schenker Rail has compensated for the downturn in
affected by very negative exchange rate factors.
income from the reversal of provisions. The other services for third parties
Movements in revenues broken down according to business segments and regions are set out in segment reporting.
also still include personnel cost refunds from the Federal Railroad Fund (Bundeseisenbahnvermögen; BEV).
C O N S O L I DAT E D F I N A N C I A L S TAT E M E N T S
N O T E S T O T H E C O N S O L I D AT E D F I N A N C I A L S TAT E M E N T S
The miscellaneous other income also includes income from the settle-
(5) Personnel expenses and employees
ment for the operation and maintenance of level crossings in accordance
Ƈ
with EG -VO 1192/69 Appendix IV and refunds for the operation of infra-
[€ MILLION]
structure on Swiss territory.
WAGES AND SALARIES
Employees
(4) Cost of materials [€ MILLION]
Civil servants assigned
2014
2013
Energy costs Electricity Electricity tax Diesel, other fuel Other energies Other supplies and purchased goods Price and value adjustment for materials Energy price derivatives
1,634
1,641
165
167
1,320
1,391
233
226
3,352
3,425
472
453
–119
–105
2013
10,805
10,341
1,172
1,254
11,977
11,595
SOCIAL SECURITY EXPENSES
Employees
COSTS OF R AW MATERIALS AND SUPPLIES AND OF PURCHASED PRODUCTS
2014
2,003
1,917
Civil servants assigned
255
268
Costs for adjusting staffing levels
343
283
Retirement benefit expenses
341
320
Total – Special items – Effects from changes in scope of consolidation – Effects from changes in exchange rates Total – comparable
2,942
2,788
14,919
14,383
–225
–1
–37
–23
–1
–
14,656
14,359
43
–23
3,748
3,750
10,858
10,973
Cleaning, security, disposal, winter service
308
345
The amount shown for adjusting staffing levels mainly comprises costs
Commissions
153
157
of severance payment agreements and semi-retirement agreements and
353
415
34
29
387
444
The retirement benefit expenses relate to active persons as well as
787
769
persons who are no longer employed in DB Group or their surviving depen-
12,493
12,688
dants. They are attributable primarily to service costs, employers’ contri-
4,009
3,976
butions to the company top-up benefit scheme as well as the contribu-
20,250
20,414
– Special items
–29
– 48
– Effects from changes in scope of consolidation
– 47
–24
Purchased transport services
Station usage Other purchased services Costs of maintenance and production Total
– Effects from changes in exchange rates Total – comparable
year: € 899 million).
restructuring costs. The increase is mainly attributable to higher alloca-
Costs in connection with utilization of infrastructure Train-path usage
The figure stated for personnel expenses (social security contributions) includes expense of € 936 million for defined contribution plans (previous
COSTS OF PURCHASED SERVICES
170
–
20,344
20,342
The impairments on inventories recognized in cost of materials amount to € 6 million in the year under review (previous year: € 14 million). Compared with the previous year, the cost of materials has declined slightly by € 164 million (– 0.8%).
tions to provisions for obligations under personnel agreements (see NOTE (33) [PAGE 238 FF.]).
tions to Pensions-Sicherungs-Verein aG (pension backing association). The interest expense resulting from compounding the pension obligations and the expected income from plan assets is shown in financial result. For detailed explanations regarding the development of pension obligations, please refer to NOTE (32) [PAGE 23 4 FF.] . The activities of the civil servants in DB Group are based on statutory allocation within the framework of the German Rail Restructuring Act (Eisenbahnneuordnungsgesetz; ENeuOG), Art. 2 section 12. For the work of the allocated civil servants, DB AG reimburses to the BEV those
As a result of a decline in power consumption volumes, the energy
costs which would be incurred if an employee covered by collective
costs have declined slightly compared with the previous year despite an
bargaining arrangements were to be employed instead of the allocated
increase in the proportion of renewable energy.
civil servant (pro forma calculation).
The costs of purchased services have declined by € 195 million com-
The increase in wages and salaries mainly reflects the wage increases
pared with the previous year (–1.5%). The decline is related to currency
of the previous year as well as the provisions created for the wage agree-
factors in the DB Schenker Logistics segment. The mild winter also resulted
ments which expired in the year under review. The higher average work-
in lower costs for winter service operations.
force has also had a further impact in this respect.
The costs of train path usage have declined compared with the previous year as a result of modifications to transport contracts of Arriva UK Trains.
211
GRI EC3
21 2
DEUTSCHE BAHN GROUP
2 0 1 4 I N T EG R AT E D R E P O R T
The development in the number of employees in DB Group, converted
(7) Other operating expenses
to full-time employees (FTE) in each case, is shown in the following:
Æ
†
[€ MILLION]
At year end [FTE]
Employees Civil servants Employees Trainees and dual degree students Total
Annual average
2014
2013
268,731
266,337
2014
2013
267,860
263,224
27,032
29,316
28,234
30,541
295,763
295,653
296,094
293,765
11,936
10,733
10,616
307,589 306,827
304,381
11,790 307,553
In the event of changes in the scope of consolidation, the employees are included on a pro rata basis up to the time of deconsolidation or after the At the end of the year, the number of persons employed in DB Group was in line with the corresponding previous year level. At the various segments, there was a decline in the number of employees at DB Arriva
Operating lease expenses
whereas there was an increase in the number of staff at DB Netze Track in operations and also in maintenance as well as at DB Schenker Logistics. The development in the number of employees, based on the number †
At year end
Employees Trainees and dual degree students Total
1,515
4
5
1,541
1,520
Legal, consultancy and audit fees
231
207
Fees and contributions
242
239
Insurance expenses
163
172
Costs of advertising and sales promotion
159
161
Printing and stationery costs Travel and representation expenses
74
77
285
280
12
10
293
259
OTHER PURCHASED SERVICES IT services
Other communication services Other services Damages payable
2014
2013
279,166
276,718
27,800
30,201
306,966
306,919
11,790
11,936
318,756
318,855
535
956
844
130
154
28
48
170
148
23
2
Other operating taxes
65
73
OTHER EXPENSES
Grants for third-party facilities
70
78
Other personnel-related expenses
220
181
Miscellaneous other expenses
688
623
Net of expenses and income consolidation Total
(6) Depreciation In the year under review, depreciation was slightly lower than the corre-
– Effects from changes in scope of consolidation
sponding previous year figure, and relates mainly to the property, plant
– Effects from changes in exchange rates
is shown in the income statement less any recovery in amounts written
50
616
Expenses from disposal of non-current financial instruments
– Special items
and equipment used as rail infrastructure as well as the rolling stock. It
47
Impairments recognized in relation to receivables and other assets 1) Losses from disposal of property, plant and equipment and intangible assets
of natural persons, is shown in the following:
Civil servants
1,537
Conditional leasing expenses
(as a result of the disposal of activities on Malta) and also at DB Services,
Employees
2013
Research and non-capitalized development costs
date of initial consolidation.
[NATUR AL PER SONS]
2014
RENTAL AND LEASING EXPENSES
Total – comparable 1)
0
0
978
882
5,057
4,817
–133
–108
–9
–32
11
–
4,926
4,677
Including payments for receivables written down in the previous year.
down in the year under review. For further explanations, please refer to the details concerning the development in property, plant and equipment or intangible assets under NOTES (1 3) [PAGE 21 5 FF.]
and (1 4) [PAGE 218] .
The other operating expenses have increased by € 240 million (+ 5.0%) compared with the previous year. This increase is mainly attributable to higher other purchased ser-
The depreciation includes special effects arising from adjustments
vices in the DB Schenker Logistics segment. This segment has reported
(€ 189 million; previous year: € 325 million) as well as effects attributable
an increase in various items, including the purchased IT services as a
to changes in the scope of consolidation (€ 9 million; previous year: € 32
result of the further development of the worldwide IT landscape.
million) and changes in exchange rates (€ 5 million).
The increase in miscellaneous other expenses is due to much higher franchise payments for transport contracts in Great Britain. This was op posed by the decline in the additions to the provisions for potential losses. The legal, consultancy and audit fees comprise fees of € 25.1 million for the auditor of the consolidated financial statements (previous year: € 22.2 million); this figure comprises auditing services of € 10.4 million (previous year: € 11.0 million), other certification services of € 3.6 million (previous year: € 4.0 million), tax advice services of € 0.2 million (previous year: € 0.2 million) as well as other services of € 10.9 million (previous year: € 7.0 million).
C O N S O L I DAT E D F I N A N C I A L S TAT E M E N T S
N O T E S T O T H E C O N S O L I D AT E D F I N A N C I A L S TAT E M E N T S
(8) Result from investments accounted for using the equity method
The interest income and expenses from the financial assets and liabilities
The following contributions to profits are recognized in the income state-
(previous year: € 37 million) and € 777 million respectively (previous year:
ment as a result of shares in companies over which significant influence
€ –784 million).
not measured at fair value through profit or loss amount to € 48 million
can be exercised or which are managed as joint ventures.
(10) Other financial result
Æ [€ MILLION]
2014
2013
7
2
Result from equity investment
Other 1)
7
2
6
7
Result from other derivatives
–5
–6
1
1
8
3
ASSOCIATED COMPANIES EUROFIMA
Other 1) Total 1)
Æ [€ MILLION]
JOINT VENTURES
(9) Net interest income Æ
2013
1
0
Result from currency exchange gains
– 93
214
Result from currency-related derivatives
108
–209
–2
–1
Result from disposal of financial instruments
0
–
Impairments on financial instruments
–6
–7
Other financial result
–11
–12
–3
–15
Total
The previous year figure was adjusted as a result of the effects of the first-time retrospective application of IFRS 10 and IFRS 11 (revised May 2011).
2014
– Special items
–
–
– Effects from changes in scope of consolidation
0
0
– Effects from changes in exchange rates
–4
–
Total – comparable
–7
–15
2014
2013
Net interest income from pension provisions
10
8
foreign currency liabilities and receivables with an impact on the income
Other interest and similar income
44
32
statement using the spot rate applicable on the reference date (IAS 21).
0
1
The result from exchange rate effects has to be netted with the result
Operating interest income
54
41
from currency-related derivatives. Both factors have increased compared
Interest income from the reversal of deferred items and other interest income
13
15
67
56
Other interest and similar expenses
–736
–737
Net interest expenses for pension provisions
–103
–100
changes in the market value of cash flow hedges recognized under share-
–39
– 46
holders’ equity with no impact on the income statement. The result from
– 878
– 883
other derivatives relates to the development in the market value of
– 87
– 52
derivatives which are not classified as effective hedges in accordance
– 965
– 935
– 898
– 879
The impairments recognized in relation to financial instruments relate
–
0
mainly to impairments for the investments in Prometro S.A ., Porto/Portugal, as well as Autoterminal Śląsk Logistic Sp. z.o.o., Sosnowiec/Poland.
[€ MILLION]
The result from exchange rate effects is attributable to the conversion of
INTEREST INCOME
Income from securities
INTEREST EXPENSES
Interest expenses from finance leases Operating interest expenses Compounding of long-term provisions and liabilities Total – Special items – Effects from changes in scope of consolidation
1
0
– Effects from changes in exchange rate
1
–
– 896
– 879
– 824
– 842
Total – comparable For information only: Net operating interest income
with the previous year as a result of significant fluctuations in the rate of the euro against most currencies and in particular against the Swiss franc, the US dollar and the British pound sterling. The result from currency-based derivatives comprises the reclassification of currency-related
with IAS 39.
(11) Taxes on income Æ [€ MILLION]
2014
2013
Actual tax expense
–155
–157
The increase in other interest and similar income is due to various factors,
Income due to lapsing of tax obligations
including interest relating to tax refunds received in the year under review.
Actual taxes on income
Within the other interest and similar expenses, higher interest costs of bonds are offset by lower interest costs resulting from the repayment
Deferred tax expense Taxes on income
19
11
–136
–146
187
– 81
51
–227
of loans of EUROFIMA as well as lower compounding for the interest-free loans. The interest expense from finance leasing has declined as a result
The actual taxes on income have been incurred mainly at foreign Group
of scheduled repayments.
companies. The change in deferred taxes compared with the previous year
The increase in the compounding of long-term provisions and liabil-
is mainly attributable to a change in the assessment of the extent to
ities is due to the increase in the carrying amounts as a result of lower
which tax loss carry-forwards can be used in future and new temporary
discount rates.
differences which have arisen.
213
214
DEUTSCHE BAHN GROUP
2 0 1 4 I N T EG R AT E D R E P O R T
Starting with the net profit of DB Group before taxes on income and the
(12) Earnings per share
theoretical taxes on income calculated using a Group tax rate of 30.5%,
Under IAS 33 (Earnings per Share), undiluted earnings per share are
the following reconciles the calculated taxes with the actual taxes on
calculated by dividing the net profit of DB Group attributable to the
income:
shareholders of DB AG by the weighted average number of shares in issue during the year under review. Undiluted earnings per share correspond
Æ [€ MILLION]
Profit before taxes on income Group tax rate (%) Expected tax expense
2014
2013
937
876
30.5
30.5
–286
–267
Additional recognition as well as usage of temporary differences and losses carried forward
135
Income not subject to tax
40
39
Tax effects related to IAS 12.33
83
86
Expenses not deductible for tax purposes
– 46
–22
–21
55
18
Other effects
46
–36
51
–227
– 5.4
25.9
Effective tax rate (%)
The reconciliation amount as detailed in IAS 12.33 relates exclusively to additional tax write-downs resulting from the fact that tax-free grants in the IFRS financial statements have been deducted directly from the costs of purchasing the assets. It is not permissible for deferred taxes to be created in relation to these temporary differences. In the year under review, the other effects include in particular effects attributable to the difference in the assessment bases of different in come tax bases, deferred taxes attributable to other periods and the effects of permanent differences. In the year under review, income from taxes attributable to other periods amounted to € 12 million (previous year: € 5 million).
Æ [€ MILLION]
Net profit for the year thereof attributable to minority interests
Differences in tax rates for foreign companies Taxes on income as reported
to diluted earnings per share. 2014
2013
988
649
22
–8
966
657
430,000,000
430,000,000
Undiluted
2.25
1.53
Diluted
2.25
1.53
thereof due to shareholders of DB AG Number of issued shares Earnings per share (€ per share)
