Consolidated financial statements

Consolidated statement of profit or loss

T€

Disclosure

2019

2018¹

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.
²	Due to the application of the cumulated retrospective method as part of the first-time application of IFRS 16, the previous year’s figures have not been adjusted.

+

Revenue

VI.1

1,567,967

1,508,817

+/–

Changes in inventories and work in progress

40

-672

+

Own work capitalized

VI.2

16,689

15,835

+

Other income

VI.3

26,436

29,731

Total income

1,611,132

1,553,711

–

Cost of materials

VI.4

-413,210

-393,602

–

Personnel expenses

VI.5

-537,239

-507,713

–

Other expenses²

VI.6

-106,369

-114,318

Earnings before interest, taxes, depreciation, and amortization (EBITDA)

554,314

538,078

–

Depreciation and amortization

VI.7

-208,835

-214,578

Operating result (EBIT)

345,479

323,500

+

Interest result

VI.8

-78,233

-84,338

+/–

Other financial result

VI.8

-11,812

-17,813

Financial result

-90,045

-102,151

+

Result from companies accounted for using the equity method

VII.4

1,388

1,173

Earnings before taxes (EBT)

256,822

222,522

+/–

Income taxes

VI.9

-78,975

-72,895

Group profit/loss for the year (EAT)

177,847

149,627

of which assignable to owners of the company

177,842

149,626

of which assignable to non-controlling interests

5

1

Consolidated statement of comprehensive income

T€

Angabe

2019

2018¹

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.

Group profit/loss for the year

177,847

149,627

+/–

Cash flow hedging

VII.16

11,406

10,742

+/–

Deferred taxes not affecting profit or loss

VII.6

-2,281

-2,149

Items to be reclassified to the statement of profit or loss

9,125

8,593

+/–

Actuarial gains/losses

VII.17

-5,351

811

+/–

Deferred taxes not affecting profit or loss

VII.6

1,488

-225

+/–

Effects of foreign currency translation

3

0

Items not to be reclassified to the statement of profit or loss

-3,860

586

Other comprehensive income net of tax

5,265

9,179

Total comprehensive income

183,112

158,806

of which assignable to owners of the company

183,107

158,805

of which assignable to non-controlling interests

5

1

Consolidated statement of financial position

Assets

T€

Disclosure

Dec. 31,2019

Dec. 31,2018¹

Jan. 1,2018²

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.
²	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8. The corrected figures as at January 1, 2018 do not include the first-time application of IFRS 15.
³	Due to the application of the cumulated retrospective method as part of the first-time application of IFRS 16, the previous year’s figures have not been adjusted.

Intangible assets

VII.1

21,162

19,572

17,477

Property, plant, and equipment³

VII.2

4,951,956

4,821,005

4,836,610

Investment property

VII.3

155,358

150,889

151,872

Investments in companies accounted for using the equity method

VII.4

4,138

3,657

4,116

Receivables

VII.5

5,201

3,539

53

Contract assets

VII.23

2,232

0

–

Other financial assets

214

183

290

Deferred tax assets

VII.6

5,497

4,864

4,148

Other assets

VII.9

6,153

6,631

774

Non-current assets

5,151,911

5,010,340

5,015,340

Inventories

VII.7

37,483

39,193

41,567

Receivables

VII.8

94,229

76,057

86,545

Contract assets

VII.23

7,315

4,617

–

Other financial assets

VII.8

1

0

202

Current income tax assets

5,123

4,899

5,496

Other assets

VII.9

35,872

9,243

7,066

Short-term deposits

VII.10

168,767

209,446

158,000

Cash and cash equivalents

VII.10

39,576

12,377

6,625

Current assets

388,366

355,832

305,501

Assets held for sale

VII.11

1,746

1,495

1,015

Assets

5,542,023

5,367,667

5,321,856

Equity and Liabilities

T€

Disclosure

Dec. 31,2019

Dec. 31,2018¹

Jan. 1,2018²

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.
²	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8. The corrected figures as at January 1, 2018 do not include the first-time application of IFRS 15.
³	Due to the application of the cumulated retrospective method as part of the first-time application of IFRS 16, the previous year’s figures have not been adjusted.

Subscribed capital

VII.12

306,776

Reserves

VII.12

147,490

151,353

150,767

Other equity

VII.12

1,923,854

1,766,853

1,640,269

Non-controlling interests

19

14

13

Equity

2,378,139

2,224,996

2,097,825

Financial liabilities from interests in partnerships

VII.14

354,047

346,058

315,375

Payables

VII.15

14,211

12,365

12,498

Other financial liabilities³

VII.15

1,148,779

1,314,692

1,393,047

Employee benefits

VII.17

61,965

50,864

50,163

Other provisions

VII.18

91,984

89,769

91,300

Deferred tax liabilities

VII.6

424,400

429,186

437,608

Other liabilities

VII.20

15,807

16,886

17,305

Non-current liabilities

1,757,146

1,913,762

2,001,921

Payables

VII.19

151,620

162,502

159,303

Contract liabilities

VII.23

2,244

2,045

–

Other financial liabilities²

VII.19

813,645

640,442

677,649

Employee benefits

VII.17

47,587

43,485

40,887

Other provisions

VII.18

11,445

14,363

10,074

Current income tax liabilities

8,209

7,339

7,406

Other liabilities

VII.20

17,941

12,675

11,416

Current liabilities

1,052,691

882,851

906,735

Equity and liabilities

5,542,023

5,367,667

5,321,856

Consolidated statement of changes in equity

Disclosure

Subscribed capital

Reserves

Other equity

Non-controlling interests

Equity

T€

Capital reserve

Revenue reserve

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.

As of Dec. 31, 2017

VII.12

306,776

102,258

48,509

1,628,698

13

2,086,254

Changes as a result of IAS 8

0

11,571

0

11,571

As of Jan. 1, 2018 (adjusted)

306,776

102,258

48,509

1,640,269

13

2,097,825

Impact arising from first-time application of IFRS 9

0

-1,635

0

-1,635

As of Jan. 1, 2018

306,776

102,258

48,509

1,638,634

13

2,096,190

Group profit/loss for the year

0

149,626

1

149,627

Other comprehensive income

0

586

8,593

0

9,179

Total comprehensive income

0

586

158,219

1

158,806

Distributions

0

-30,000

0

-30,000

Transactions with shareholders

0

-30,000

0

-30,000

As of Dec. 31, 2018¹

VII.12

306,776

102,258

49,095

1,766,853

14

2,224,996

Group profit/loss for the year

0

177,842

5

177,847

Other comprehensive income

0

-3,863

9,128

0

5,265

Total comprehensive income

0

-3,863

186,970

5

183,112

Distributions

0

-30,000

0

-30,000

Transactions with shareholders

0

-30,000

0

-30,000

Effects of foreign currency translation

0

31

0

31

As of Dec. 31, 2019

VII.12

306,776

102,258

45,232

1,923,854

19

2,378,139

Consolidated statement of cash flow

T€

Disclosure

2019

2018¹

¹	Adjusted. More detailed explanations are provided in the Notes to the consolidated financial statements in Section II.3: Changes in accordance with IAS 8.

Total comprehensive income

183,112

158,806

+

Deferred taxes not affecting profit or loss

793

2,374

+

Actuarial gains/losses

5,351

-811

+

Cash flow hedging

-11,406

-10,742

Changes due to foreign currency translation

-3

0

Group profit/loss for the year (EAT)

177,847

149,627

Result from companies accounted for using the equity method

-1,388

-1,173

Income taxes

78,975

72,895

Financial result

90,045

102,151

Operating result (EBIT)

345,479

323,500

Depreciation and amortization

208,835

214,578

Gains/losses from disposal of fixed assets

2,481

3,104

Increase/decrease in inventories

1,710

2,374

Increase/decrease in current receivables

-18,172

10,487

Increase/decrease in liabilities

-8,932

3,234

Increase/decrease in employee benefits

9,031

3,393

Increase/decrease in other provisions

-3,573

4,451

Increase/decrease in other assets/liabilities not related to investing and financing activities

-23,243

-12,950

Gross cash flow from operating activities

513,616

552,171

Net income taxes paid/received

-84,542

-83,875

Cash flow from operating activities

429,074

468,296

Proceeds from sale of owner-occupied property, plant, and equipment

5,138

5,853

Proceeds from sale of intangible assets

707

404

Proceeds from sale of investment property

0

117

Proceeds of distributions from associated companies

1,173

1,632

Payments for investments in owner-occupied property, plant, and equipment

-306,980

-191,146

Payments for investments in intangible assets

-6,870

-8,328

Payments for investments in investment property

-5,592

-5,174

Payments from acquisition of subsidiaries

-1,200

0

Interest received

382

275

Changes in connection with companies not fully consolidated

-275

96

Changes in short-term deposits

40,679

-52,000

+

Cash flow from investing activities

-272,838

-248,271

Payments for distributions to shareholders

IX

-30,000

Proceeds from borrowings

IX

71,111

13,200

Repayments of borrowings from banks

IX

-79,406

-125,713

Repayments of lease liabilities

-4,903

–

Repayments of financial liabilities from interests in partnerships

IX

-36,919

-22,330

Cash flows from Group-wide cash management with associates and shareholdings

IX

-4,460

-572

Interest paid (excluding borrowing costs for qualifying assets)

IX

-39,743

-43,942

Payments for borrowing costs for qualifying assets

IX

-4,717

-4,916

+

Cash flow from financing activities

IX

-129,037

-214,273

Change in cash and cash equivalents

27,199

5,752

Cash and cash equivalents at the beginning of the year

12,377

6,625

Cash and cash equivalents at the end of the year

39,576

12,377

Capitals

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