Annual Report
2013/2014
DRIVING
EXPANSION.
ENSURING
CONTINUITY.
MAKING STRONG
COMPANIES STRONGER.

NOTES TO THE CONSOLIDATED FINANCIAL STATEMENTS

FOR FINANCIAL YEAR 2013/14

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

for the period from 1 November 2013 to 31 October 2014

T€ Notes1 Nov. 2013 to 31 Oct. 20141 Nov. 2012 to 31 Oct. 2013
Net result of valuation and disposal of financial assets and loans and receivables 9 50,280 34,489
Current income from financial assets and loans and receivables 10 4,225 6,519
Fee income from fund management and advisory services 11 21,736 18,889
Net result of fund services and investment activity   76,24159,897
       
Personnel costs 12 (16,533) (13,793)
Other operating income 13 9,751 5,737
Other operating expenses 14 (21,229) (18,205)
Interest income 15 443 947
Interest expenses 16 (157) (831)
Total other income/expenses   (27,725)(26,145)
       
Net income before taxes   48,51633,752
Income taxes 17 (417) (482)
Net income after taxes   48,09933,270
Minority interest (-) 28 (323) (976)
Net income   47,77632,294
a) Items that will not be reclassified subsequently to profit or loss      
Gains/(losses) on remeasurements of the net defined benefit liability (asset) 30 (6,695) (3,588)
b) Items that will be reclassified subsequently to profit or loss when specific conditions are met      
Unrealised gains/(losses) on available-for-sale securities 23 306 (86)
Other comprehensive income   (6,389)(3,674)
Total comprehensive income   41,38728,620
       
Earnings per share in € (diluted and basic)* 37 3.49 2.36

* In compliance with IAS 33, earnings per share are based on consolidated net income divided by the weighted average number of DBAG shares outstanding in the financial year
 

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CONSOLIDATED STATEMENT OF CASH FLOWS

for the period from 1 November 2013 to 31 October 2014

INFLOWS/(OUTFLOWS)
T€ Notes1 Nov. 2013 to 31 Oct. 20141 Nov. 2012 to 31 Oct. 2013
Cash funds at end of period 33 38,31819,793
Consolidated net income   47,776 32,294
Valuation (gains)/losses on financial assets and loans and receivables, depreciation and amortisation on property, plant and equipment and intangible assets, (gains)/losses on long- and short-term securities 9, 18, 19, 20, 23 (20,815) (28,785)
(Gains)/losses from disposals of non-current assets 9, 18 (28,912) (5,315)
Increase/(decrease) in non-current liabilities 25, 28, 29, 30 6,250 1,510
(Increase)/decrease in income tax assets 25 (1,983) 3,422
Increase/(decrease) in tax provisions 25 394 (602)
Increase/(decrease) in other provisions 29 4,378 (1,143)
(Increase)/decrease in other assets (netted) 21, 23, 24, 25, 26 (2,515) (9,343)
Increase/(decrease) in other liabilities (netted) 29, 31 (5,949) (3,988)
Cash flows from operating activities*   (1,376)(11,950)
       
Proceeds from disposals of property, plant and equipment and intangible assets 18 92 420
Purchase of property, plant and equipment and intangible assets 18 (686) (326)
Proceeds from disposals of financial assets and loans and receivables 9, 19, 20 90,815 60,398
Acquisition of non-current financial assets and investments in loans and receivables 9, 19, 20 (20,003) (41,747)
Proceeds from disposals of long- and short-term securities 23, 33  59,000 26,896
Acquisition of long- and short-term securities 23, 33 (92,905) (20,218)
Cash flows from investing activities   36,31325,423
       
Payments to shareholders (dividends) 27 (16,412) (16,412)
Cash flows from financing activities   (16,412)(16,412)
       
Change in cash funds from cash-relevant transactions   18,525 (2,939)
Cash funds at start of period 33 19,793 22,732

* Contained therein are received and paid income taxes of T€2,024 (previous year: T€-44) as well as received and paid interest and received dividends of T€2,652 (previous year: T€630).


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CONSOLIDATED STATEMENT OF FINANCIAL POSITION

at 31 October 2014

T€ Notes31 Oct. 201431 Oct. 2013
Total shareholders’ equity and liabilities   347,089310,652
ASSETS      
Non-current assets      
Intangible assets 18 151 34
Property, plant and equipment 18 1,304 1,273
Financial assets 19 135,047 166,752
Loans and receivables 20 25,947 14,110
Long-term securities 23 80,991 50,514
Other non-current assets 21, 25, 30 421 867
Total non-current assets   243,861233,550
       
Current assets      
Receivables 22 7,400 11,980
Short-term securities 23 31,344 28,028
Other financial instruments 24 2,245 2,401
Income tax assets 25 5,435 3,452
Cash and cash equivalents   38,318 19,793
Other current assets 26 18,486 11,448
Total current assets   103,22877,102
       
Total assets   347,089310,652
LIABILITIES      
Equity 27    
Subscribed capital   48,533 48,533
Capital reserve   141,394 141,394
Retained earnings and other reserves   (4,616) 1,773
Consolidated retained profit   118,077 86,713
Total shareholders’ equity   303,388278,413
       
Liabilities      
Non-current liabilities      
Minority interest 28 10,414 10,146
Provisions for pension obligations 30 9,385 3,419
Other provisions 29 235 218
Deferred tax liabilities 25 60 61
Total non-current liabilities   20,09413,844
       
Current liabilities      
Other current liabilities 31 2,908 2,468
Tax provisions 25 2,232 1,838
Other provisions 29 18,467 14,089
Total current liabilities   23,60718,395
       
Total liabilities   43,70132,239
       

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CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

for the period from 1 November 2013 to 31 October 2014

T€ Notes1 Nov. 2013 to 31 Oct. 20141 Nov. 2012 to 31 Oct. 2013
Subscribed capital      
At start and end of reporting period   48,53348,533
       
Capital reserve      
At start and end of reporting period   141,394141,394
       
Retained earnings and other reserves      
Legal reserve      
At start and end of reporting period   403 403
       
First adoption IFRS      
At start and end of reporting period   15,996 15,996
       
Reserve for gains/losses on remeasurements of the defined benefit liability (asset)      
At start of reporting period   (14,578) (10,990)
Change in reporting period   (6,695) (3,588)
At end of reporting period   (21,273)(14,578)
       
Change in unrealised gains/losses on available-for-sale securities      
At start of reporting period   (48) 38
Change in reporting period through other comprehensive income 23 263 (56)
Change in reporting period through profit or loss 23 43 (30)
At end of reporting period   258(48)
       
At end of reporting period   (4,616)1,773
       
Consolidated retained profit      
At start of reporting period   86,713 70,831
Dividends 27 (16,412) (16,412)
Consolidated net income   47,776 32,294
At end of reporting period   118,07786,713
       
Total   303,388278,413

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