Consolidated annual financial statements

Consolidated income statement

T€ Disclosure 2017 2016
Revenue VI.1 1,468,735 1,364,122
Changes in inventories and working progress   672 0
Own work capitalized VI.2 13,017 19,930
Other income VI.3 30,368 46,643
Total income   1,512,792 1,430,695
Cost of materials VI.4 -398,988 -352,085
Personnel expenses VI.5 -482,081 -452,515
Other expenses VI.6 -111,736 -97,092
Earnings before interest, taxes, depreciation and amortization (EBITDA)   519,987 529,003
Depreciation and amortization VI.7 -217,617 -239,071
Operating result (EBIT)   302,370 289,932
Interest result VI.8 -83,605 -81,763
Other financial result VI.8 8,843 668
Financial result   -74,762 -81,095
Result from companies accounted for using the equity method VII.4 1,632 1,036
Profit before tax (EBT)   229,240 209,873
Income taxes VI.9 -70,440 -58,242
Consolidated profit (EAT)   158,800 151,631
of which attributable to controlling shareholders   158,800 146,736
of which attributable to non-controlling interests   0 4,895

Consolidated statement of comprehensive income

T€ Disclosure 2017 2016
Consolidated profit   158,800 151,631
Cash flow hedging VII.16 18,464 13,239
Deferred taxes not recognized in profit and loss VII.6 -3,691 -3,389
Items that may be reclassified subsequently to profit and loss   14,773 9,850
Actuarial gains and losses VII.17 -314 -2,181
Deferred taxes not recognized in profit and loss VII.6 88 611
Items that will not be reclassified to profit and loss   -226 -1,570
Other comprehensive income net of tax   14,547 8,280
Total comprehensive income   173,347 159,911
of which attributable to controlling shareholders   173,347 155,016
of which attributable to non-controlling interests   0 4,895

Consolidated balance sheet

Assets      
T€ Disclosure Dec. 31, 2017 Dec. 31, 2016
Intangible assets VII.1 17,477 13,748
Property, plant, and equipment VII.2 4,821,038 4,906,024
Investment property VII.3 151,872 167,573
Investments in companies accounted for using the equity method VII.4 4,116 3,415
Trade and other receivables VII.5 53 84
Other financial assets VII.5 290 304
Deferred tax assets VII.6 4,148 6,890
Other assets VII.9 774 2,928
Non-current assets   4,999,768 5,100,966
Inventories VII.7 41,567 42,765
Trade and other receivables VII.8 86,545 65,813
Other financial assets VII.8 202 0
Current income tax assets   5,496 4,901
Other assets VII.9 7,066 10,162
Short-term deposits VII.10 158,000 12,000
Cash and cash equivalents VII.10 6,625 6,034
Current assets   305,501 141,675
Assets held for sale VII.11 1,015 1,220
Assets   5,306,284 5,243,861
 
Liabilities      
T€ Disclosure Dec. 31, 2017 Dec. 31, 2016
Share capital VII.12 306,776 306,776
Reserves VII.12 150,767 150,993
Other equity VII.12 1,628,698 1,485,125
Shares of non-controlling interests   13 13
Equity   2,086,254 1,942,907
Financial liabilities resulting from interests in partnerships VII.14 315,375 293,561
Trade payables VII.15 12,498 27,671
Other financial liabilities VII.15 1,393,047 1,523,333
Employee benefits VII.17 50,163 47,588
Other provisions VII.18 91,300 92,709
Deferred tax liabilities VII.6 435,540 441,125
Other liabilities VII.20 17,305 18,550
Non-current liabilities   1,999,853 2,150,976
Trade payables VII.19 159,303 167,833
Other financial liabilities VII.19 677,649 594,112
Employee benefits VII.17 40,887 35,294
Other provisions VII.18 9,924 15,716
Current income tax liabilities   5,623 32,292
Other liabilities VII.20 11,416 11,170
Current liabilities   904,802 856,417
Liabilities associated with assets classified as held for sale   0 0
Liabilities   5,306,284 5,243,861

Consolidated statement of changes in equity

  Disclosure Issued capital Reserves Other equity Non-controlling interests Equity
T€     Capital reserve Revenue reserve      
As of Dec. 31, 2015 VII. 12 306,776 102,258 25,288 1,383,556 -4,869 1,813,009
Consolidated profit   0 0 0 146,736 4,895 151,631
Other comprehensive income   0 0 -1,570 9,850 0 8,280
Total comprehensive income   0 0 -1,570 156,586 4,895 159,911
Distributions   0 0 0 -30,000 0 -30,000
Deconsolidation   0 0 0 0 -13 -13
Transactions with shareholders   0 0 0 -30,000 -13 -30,013
Allocation to reserves   0 0 25,017 -25,017 0 0
Change of reserves   0 0 25,017 -25,017 0 0
As of Dec. 31, 2016 VII. 12 306,776 102,258 48,735 1,485,125 13 1,942,907
Consolidated profit   0 0 0 158,800 0 158,800
Other comprehensive income   0 0 -226 14,773 0 14,547
Total comprehensive income   0 0 -226 173,573 0 173,347
Distributions   0 0 0 -30,000 0 -30,000
Transactions with shareholders   0 0 0 -30,000 0 -30,000
As of Dec. 31, 2017 VII. 12 306,776 102,258 48,509 1,628,698 13 2,086,254

Consolidated cash flow statement

T€ Disclosure 2017 2016
Total comprehensive income   173,347 159,911
Deferred taxes not recognized in profit and loss   3,603 2,778
Actuarial gains and losses   314 2,181
Cash flow hedging   -18,464 -13,239
Consolidated profit (EAT)   158,800 151,631
Result from companies accounted for using the equity method   -1,632 -1,036
Income taxes   70,440 58,242
Financial result   74,762 81,095
Operating result (EBIT)   302,370 289,932
Depreciation and amortization   217,617 239,071
Gains/losses from disposal of fixed assets   1,553 3,195
Increase/decrease in inventories   1,198 -2,944
Increase/decrease in current receivables   -20,732 -4,051
Increase/decrease in liabilities   -23,800 69,135
Increase/decrease in employee benefits   7,160 13,483
Increase/decrease in other provisions   -6,314 -5,916
Increase/decrease from acquisition of subsidiaries   0 450
Increase/decrease in other working capital   7,018 -11,573
Remaining change in working capital      
Gross cash flow from operating activities   486,070 590,782
Net income taxes paid/received   -104,150 -61,950
Cash flow from operating activities   381,920 528,832
Proceeds from the disposition of self-used property, plant, and equipment   18,016 1,732
Proceeds from the disposition of intangible assets   590 464
Proceeds from the disposition of investment property   106 4
Proceeds from distributions collected from associates   931 778
Payments for the acquisition of subsidiaries   0 -1,500
Payments for investments in self-used property, plant, and equipment   -125,851 -263,432
Payments for investments in intangible assets   -7,279 -4,404
Payments for investments in investment property   -3,200 -5,521
Interest received   325 1,176
Changes of short-term deposits   -146,000 200,000
Cash flow from investing activities   -262,362 -70,703
Payments for distributions to shareholders IX -30,000 -30,000
Proceeds from borrowings IX 33,184 200,000
Repayments of borrowings IX -69,175 -558,683
Cash flows from Group-wide cash management with associates and investments IX -2,832 -1,203
Interests paid (excluding construction period interest) IX -45,549 -58,891
Payments from construction period interest IX -4,596 -8,641
Cash flow from financing activities IX -118,968 -457,418
Exchange gains or losses on cash and cash equivalents   0 0
Change in cash and cash equivalents   590 711
Cash and cash equivalents at the beginning of the year   6,034 5,323
Cash and cash equivalents at the end of the year   6,624 6,034

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