Disposal and deconsolidation effects in 2010
Disposal and deconsolidation effects, 2010
€m  
1 January to 31 December
   DHL Express UK   DHL Express France;
DHL Freight France		   DHL Supply Chain Austria   Miscellaneous   Total  
Non-current assets   0   1   37   1   39  
Current assets   0   0   36   0   36  
Assets held for sale1   54   69   0   5   128  
Cash and cash equivalents   0   0   7   0   7  
Assets   54   70   80   6   210  
Non-current liabilities and provisions   0   0   19   0   19  
Current liabilities and provisions   0   0   47   0   47  
Liabilities associated with assets held for sale1   39   91   0   2   132  
Equity and liabilities   39   91   66   2   198  
Net assets   15   –21   14   4   12  
Total consideration received   –26   –243   1   4   –264  
Income (+)/expenses (–) from the currency translation reserve   –12   0   0   0   –12  
Deconsolidation gain (+)/loss (–)   –53   –222   –13   0   –288  
1 Data before deconsolidation.

In March of the previous year, DHL Express UK sold its day-definite domestic business. In April, DHL Supply Chain Austria sold parts of its contract logistics operations. The sale of DHL Express France’s day-definite domestic business, and of DHL Freight France’s champagne business, was completed in June. The disposal effects attributable to Fulfilment Plus GmbH, Germany, Exel Delamode Logistics SRL, Romania, and Innogistics LLC, USA, are presented together in the Miscellaneous column. The deconsolidations resulted in an aggregate loss of €288 million, which is reported under other operating expenses.

Joint ventures

The following table provides information about the balance sheet and income statement items attributable to the significant joint ventures included in the consolidated financial statements:

As at 31 December
€m  
    20101   20111  
BALANCE SHEET          
Intangible assets   97   100  
Property, plant and equipment   20   24  
Receivables and other assets   64   73  
Cash and cash equivalents   16   17  
Trade payables, other liabilities   68   66  
Provisions   12   17  
Financial liabilities   63   63  
INCOME STATEMENT          
Revenue2   260   271  
Profit from operating activities (EBIT)   13   22  
1 Proportionate single-entity financial statement data.
2 Revenue excluding intra-group revenue.

The consolidated joint ventures relate primarily to Express Couriers Ltd., New Zealand, EV Logistics, Canada, AeroLogic GmbH, Germany, and Bahwan Exel LLC, Oman. Shareholdings are disclosed in Note 58.

  • <<       Page 5 of 5
    • <<        Page 1 2 3 4 5
  • <<       Page 5 of 5
    • <<        Page 1 2 3 4 5
  • Print pagePrint page
  • Start readingStart reading
  • Add to shopping basketAdd to shopping basket
  • Save as PDFSave as PDF
  •  
 
Useful Links
Quicklinks
© 2012 Deutsche Post AG