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Consolidated Financial Statements Notes to the Consolidated Financial Statements of Deutsche Post AG Balance sheet disclosures 29 Investments in associates
Consolidated Financial Statements Notes to the Consolidated Financial Statements of Deutsche Post AG Balance sheet disclosures 29 Investments in associates 29 Investments in associates
Investments in associates developed as follows:
| €m | ||
|
|
2009 |
2010 |
|
As at 1 January |
61 |
1,772 |
|
Additions |
1,561 |
0 |
|
Changes in Group’s share of equity |
||
|
Changes recognised in profit or loss |
28 |
56 |
|
Profit distributions |
–1 |
–4 |
|
Changes recognised in other comprehensive income |
123 |
93 |
|
Impairment losses |
0 |
–69 |
|
Elimination of intercompany profits and losses |
0 |
–1 |
|
Carrying amount as at 31 December |
1,772 |
1,847 |
Since March 2009, the 39.5% interest in the Deutsche Postbank Group has been accounted for using the equity method. Since this also accounts for the largest portion of this balance sheet item, the following table only reports the assets, liabilities, income from banking transactions and net profit of Deutsche Postbank AG (all items 100%).
|
Deutsche Postbank AG1) |
||
| €m | ||
|
|
31 Dec. 2009 |
30 Sept. 2010 |
|
Assets |
226,609 |
231,457 |
|
Liabilities |
221,358 |
225,739 |
|
Income from banking transactions2) |
9,103 |
6,235 |
|
Consolidated net profit |
76 |
218 |
| 1) |
Deutsche Postbank AG’s figures are based on the
last published interim financial statements as at 30 September 2010 and
the last published consolidated financial statements as at 31 December
2009 because no audited consolidated financial statements of Deutsche
Postbank AG for the year ending 31 December 2010 were available at the time when Deutsche Post AG’s consolidated financial statements were prepared. |
| 2) | Income from banking transactions includes interest income, commission income and net trading income. |
The equity investment in Deutsche Postbank AG attributable to Deutsche Post AG had a market valuation of €1,797 million as at 31 December 2010 (previous year: €1,977 million), based on the price of €20.80 per share (previous year: €22.88). The carrying amount of Deutsche Postbank AG’s equity investment was reduced by €52 million due to the lower share price; see Note 18.
As at 31 December 2010, Deutsche Post AG held 86,417,432 shares of Deutsche Postbank. All Postbank shares were pledged as collateral in connection with the second and third tranches of the planned sale of the interest in Postbank; see Notes 2, 3 and 50.
- Income Statement
- Statement of Comprehensive Income
- Balance Sheet
- Cash Flow Statement
- Statement of Changes in Equity
- Notes to the Consolidated Financial Statements of Deutsche Post AG
- Basis of preparation
- Segment reporting
- Income statement disclosures
- Balance sheet disclosures
- 26 Intangible assets
- 27 Property, plant and equipment
- 28 Investment property
- 29 Investments in associates
- 30 Non-current financial assets
- 31 Other non-current assets
- 32 Deferred taxes
- 33 Inventories
- 34 Income tax assets and liabilities
- 35 Receivables and other current assets
- 36 Current financial assets
- 37 Cash and cash equivalents
- 38 Assets held for sale and liabilities associated with assets held for sale
- 39 Issued capital
- 40 Other reserves
- 41 Retained earnings
- 42 Equity attributable to Deutsche Post AG shareholders
- 43 Non-controlling interests
- 44 Provisions for pensions and similar obligations
- 45 Other provisions
- 46 Financial liabilities
- 47 Other liabilities
- 48 Trade payables
- Cash flow disclosures
- Other disclosures
- Responsibility Statement
- Auditor’s Report
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