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Combined Annual and Sustainability Report 2018

Key Figures

 

Deutsches Milchkontor eG Group

DMK eG Group assets

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Assets
in Mio. EUR
31.12.2018 31.12.2017
A Fixed assets    
I Intangible assets    
1 Concessions, industrial property rights and similar rights and values, as well as licences thereto 32.9 37.0
2 Goodwill 23.5 19.7
3 Payments on account 1.3 0.6
  Total intangible assets 57.7 57.3
II Tangible assets  
1 Land and leasehold rights and buildings, including buildings on third-party land 342.5 314.5
2 Plant and machinery 403.2 401.5
3 Other fixtures and fittings, tools and equipment 36.2 32.3
4 Payments on account and tangible assets under construction 91.1 105.5
  Total tangible assets 872.9 862.8
III Financial assets    
1 Shares in associated companies 5.5 5.3
2 Participating interests in associated companies 23.1 24.4
3 Participating interests 7.6 9.3
4 Loans to companies in which a participating interest is held 5.8 1.0
5 Capital contributions to cooperative societies 1.0 1.0
6 Other loans 0.3 0.6
  Total financial assets 43.3 41.6
  Total fixed assets 973.9 961.7
B Current assets    
I Inventories    
1 Raw materials and supplies 61.5 60.5
2 Work in progress 38.4 46.9
3 Finished goods and goods for resale 337.9 275.7
4 Payments on account 0.3 0.0
  Total inventories 438.1 383.1
II Accounts receivable and other assets  
1 Accounts receivable (trade debtors) 320.7 389.2
2 Due from associated companies 12.9 9.1
3 Due from companies in which a participating interest is held 23.0 2.7
4 Other assets 171.4 137.1
  Total accounts receivable etc. 528.0 538.1
III Investments    
1 Other investments 0.0 0.3
IV Cash in hand, cash on deposit with Deutsche Bundesbank, cash in other bank accounts and cheques 41.0 36.3
C Prepayments and accrued income 3.9 2.5
D Deferred tax assets 1.1 0.0
B Difference due to capital account 0.0 0.0
  Total assets 1,986.0 1,922.0

DMK eG Group equity capital and liabilities

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Equity capital and liabilities
in Mio. EUR
31.12.2018 31.12.2017
A Equity capital    
I Capital contributions    
1 of remaining members 137.8 162.2
2 of withdrawing members 30.6 21.9
3 from cancelled shares 0.0 0.0
  Total capital contributions 168.5 184.1
II Capital reserve 48.2 47.0
III Revenue reserves    
1 Statutory reserve 116.8 115.0
2 Other revenue reserves 124.2 115.9
  Total revenue reserves 241.0 230.9
IV Difference in equity due to foreign currency translation -0.6 -0.3
V Participatory capital 29.0 24.5
VI Consolidated net loss/consolidated net profit    
1 Consolidated net loss/consolidated net profit 38.0 -6.7
2 Consolidated net profit for the year 30.6 29.6
3 Allocations to reserves -7.9 -7.6
4 Withdrawal from reserves 0.0 35.5
5 Non-controlling interests -2.5 -4.0
  Total consolidated net loss/profit 58.1 46.8
VII Non-controlling interests 69.4 65.5
  Total equity capital 613.6 598.5
B Difference due to consolidation of capital 2.3 2.3
C Special item for investment subsidies 13.9 14.1
D Accrued liabilities    
1 Provisions for pensions and similar obligations 119.3 114.6
2 Provisions for taxation 25.5 26.5
3 Other provisions 133.9 132.0
  Total accrued liabilities 278.8 273.1
E Liabilities    
1 Due to banks 578.4 483.9
2 Advance payments received 1.8 1.1
3 Accounts payable (trade creditors) 322.6 358.2
4 Due to associated companies 2.2 2.1
5 Due to companies in which a participating interest is held 0.1 0.2
6 Other liabilities 164.1 180.4
  Total liabilities 1,069.1 1,025.9
F Deferred income 0.3 0.4
G Deferred tax liabilities 7.9 7.7
  Total equity capital and liabilities 1,986.0 1,922.0

DMK eG Group profit and loss account

PDF; 29 KB
Group profit and loss account
1. January 2018 – 31. Deccember 2018 in Mio. EUR
2018 2017
1 Sales revenues 5,571.0 5,795.6
2 Increase or decrease in finished goods inventories and work in progress 34.5 57.9
3 Capitalised cost of self-constructed assets 1.1 1.4
4 Other operating income 61.8 88.9
  Subtotal 5,668.3 5,943.7
5 Cost of materials  
  a) Cost of raw materials, consumables and supplies and of purchased materials 4,529.4 4,820.0
  b) Cost of purchased services 19.0 21.9
    4,548.3 4,841.9
  Gross profit or loss 1,120.0 1,101.8
6 Personnel expenses  
  a) Wages and salaries 346.0 352.6
  b) Social security and other pension costs 74.6 70.6
    420.6 423.1
7 Depreciation of intangible assets and tangible assets 134.5 139.1
8 Other operating expenses 492.2 473.0
  Subtotal (1.-8.) 72.7 66.6
9 Income from associated companies 1.7 6.3
10 Income from participating interests and capital contributions 1.7 0.7
11 Income from other investments and long-term loans 0.2 0.3
12 Other interest and similar income 0.7 1.0
  Subtotal (9.-12.) 4.3 8.3
13 Write-downs of financial assets and investments held as current assets 6.2 0.1
14 Interest and similar expenses 25.2 24.1
15 Payment for participatory capital 0.9 1.3
16 Taxes on income 10.6 18.0
17 Result after tax 34.0 31.4
18 Other taxes 3.4 1.8
  Consolidated net profit for the year 30.6 29.6

DMK eG Group cashflow statement

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Group cash flow statement
1. January 2018 – 31. Deccember 2018 in Mio. EUR
2018
1 Consolidated net profit for the year 30.6
2 +/- Depreciation/write-ups of fixed assets 140.1
3+/- Increase/decrease in provisions -2.6
4+/- Other non-cash expenses/income 1.0
5-/+ Increase/decrease in inventories, accounts receivable and other assets which cannot be allocated to investing or financing activities -46.9
6+/- Increase/decrease in accounts payable and other liabilities which cannot be allocated to investing or financing activities -51.7
7-/+ Gain/loss from disposal of fixed assets -1.6
8+/- Interest expenses/interest income 25.2
9- Other income from participating interests -2.4
10+/- Expenditure/income of exceptional size or incidence 0.0
11+/- Expenses/income from income tax 10.9
12+ Cash receipts relating to income of exceptional size or incidence 0.0
13- Income tax payments -13.1
14= Cash flow from operating activities 89.5
15+ Payments from disposal of intangible assets 0.2
16- Investments in intangible assets -17.5
17+ Payments from disposal of tangible assets 6.0
18- Investments in tangible assets -132.2
19+ Payments from disposal of financial assets 0.9
20- Investments in financial assets -9.8
21- Outpayments to the scope of consolidation 0.0
22+ Cash receipts relating to income of exceptional size or incidence 0.0
23+ Interest received 1.0
24+ Dividends received/income from transfer of profits 4.7
25= Cash flow from investing activities -146.7
26+ Inpayments for capital contributions and participatory capital 13.3
27- Outpayments for capital contributions and participatory capital -28.2
28+ Cash proceeds from equity contributions by other shareholder 6.1
29+ Inpayments from financial loans 9.9
30- Outpayments for repayment of financial loans -42.8
31+ Inpayments from allowances/contributions received 2.9
32- Interest paid -15.9
33- Payment to participatory capital/dividend paid -8.0
34- Dividends paid to other shareholders -2.8
35= Cash flow from financing activities -65.5
36Net increase (decrease) in cash and cash equivalents -122.7
37+/- Changes in cash and cash equivalents due to exchange rates -0.2
38+/- Changes in cash and cash equivalents due to the scope of consolidation 0.0
39+ Cash and cash equivalents at beginning of period -63.1
 Cash and cash equivalents at end of period -185.9

Deutsches Milchkontor eG

DMK eG assets

PDF; 28 KB
Aktiva
1. Bilanz zum 31.12.2018 in TEUR
31.12.2018 31.12.2017
A. Fixed assets    
I. Tangible assets    
1. Land and leasehold rights and buildings, including buildings on third-party land 116.9 143.0
2. Other fixtures and fittings, tools and equipment 2.1 3.5
  Total tangible assets 119.0 146.5
II. Financial assets  
1. Shares in associated companies 335,457.1 335,457.1
2. Participating interests 9.5 13.3
3. Capital contributions to cooperative societies 13.2 13.4
4. Other loans 305.9 635.9
  Total financial assets 335,785.7 336,119.7
  Total fixed assets 335,904.7 336,266.2
B. Current assets    
I. Accounts receivable and other assets    
1. Accounts receivable (trade debtors) 210.2 192.6
2. Due from associated companies 237,327.5 270,406.1
3. Other assets 9,367.0 6,984.7
  Total accounts receivable etc. 246,904.7 277,583.4
  Total assets 582,809.4 613,849.6

DMK eG equity capital and liabilities

PDF; 29 KB
Passiva
1. Bilanz zum 31.12.2018 in TEUR
31.12.2018 31.12.2017
A Equity capital    
I Capital contributions    
1 of remaining members 137,835.9 162,172.8
2 of withdrawing members 30,591.7 21,927.4
3 from cancelled shares 44.7 43.9
  Total capital contribution 168,472.2 184,144.1
II Capital reserve 36,104.9 35,994.9
III Revenue reserves    
1 Statutory reserve 116,805.5 115,005.5
2 Other revenue reserves 93,899.3 86,899.3
  Total revenue reserves 210,704.8 201,904.8
IV Net profit    
1 Profit brought forward 2,125.4 101.9
2 Net profit for the year 17,379.8 17,899.6
3 Allocations to reserves -7,000.0 -7,000.0
  Total net profit 12,505.2 11,001.5
  Total equity capital 427,787.1 433,045.3
B Reserves    
1 Provisions for taxation 3,863.6 4,886.7
2 Other provisions 677.8 673.1
  Total accrued liabilities 4,541.4 5,559.8
C Liabilities    
1 Accounts payable (trade creditors) 93,109.8 117,974.7
2 Due to associated companies 0.0 0.6
3 Other liabilities 57,371.0 57,269.2
  Total liabilities 150,480.9 175,244.5
  Total equity capital and liabilities 582,809.4 613,849.6

DMK eG profit and loss account

PDF; 28 KB
Profit and loss account
1. January 2018 – 31. Deccember 2018 in TEUR
2018 2017
1 Sales revenues 1,838,955.4 2,113,430.8
2 Other operating income 5,533.9 2,519.2
  Subtotal 1,844,489.3 2,115,950.0
3 Cost of materials  
  a) Cost of raw materials, consumables and supplies and of purchased materials 1,815,639.5 2,085,198.1
    1,815,639.5 2,085,198.1
  Gross profit or loss 28,849.7 30,751.9
4 Personnel expenses  
  a) Wages and salaries 307.6 310.6
    307.6 310.6
5 Depreciation of intangible assets and tangible assets 16.7 116.9
6 Other operating expenses 10,625.0 11,407.1
  Subtotal (1.-6.) 17,900.5 18,917.3
7 Income from participating interests and capital contributions 0.6 0.6
8 Income from other investments and long-term loans 13.5 25.5
9 Other interest and similar income 453.8 466.9
  Subtotal (7.-9.) 467.9 493.0
10 Abschreibungen auf Finanzanlagen auf Wertpapiere des Umlaufvermögens 0.8 0.0
11 Interest and similar expenses 847.7 935.4
12 Taxes on income 138.5 573.6
13 Result after tax 17,381.5 17,901.3
14 Other taxes 1.7 1.7
  Consolidated net profit for the year 17,379.8 17,899.6

Corporate structure DMK eG incl. shareholders

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Deutsches Milchkontor GmbH

DMK GmbH assets

PDF; 29 KB
Assets
in Mio. EUR
31.12.2018 31.12.2017
AFixed assets  
IIntangible assets  
1Concessions, industrial property rights and similar rights and values, as well as licences thereto13.915.9
2Payments on account0.60.3
 Total intangible assets14.516.2
IITangible assets  
1Land and leasehold rights and buildings, including buildings on third-party land148.0155.0
2Plant and machinery199.9223.3
3Other fixtures and fittings, tools and equipment14.515.5
4Payments on account and tangible assets under construction10.68.7
 Total tangible assets 373.0402.5
IIIFinancial assets  
1Shares in associated companies 280.3238.0
2Loans to associated companies 313.5230.1
3Participating interests 2.42.4
4Capital contributions to cooperative societies0.60.6
 Total financial assets596.7471.1
 Total fixed assets984.3889.8
BCurrent assets  
IInventories  
1Raw materials and supplies31.131.0
2Work in progress27.035.9
3Finished goods and goods for resale207.0130.6
 Total inventories265.2197.5
IIAccounts receivable and other assets  
1Accounts receivable (trade debtors)145.0180.9
2Due from associated companies195.4156.7
3Due from companies in which a participating interest is held0.40.0
4Other assets80.579.0
 Total accounts receivable etc.421.3416.6
IIICash in hand, cash on deposit with Deutsche Bundesbank, cash in other bank accounts and cheques7.48.5
CPrepayments and accrued income3.31.8
 Total assets1.681.41.514.2

DMK GmbH equity capital and liabilities

PDF; 28 KB
Equity capital and liabilities
in Mio. EUR
31.12.2018 31.12.2017
A Equity capital    
I Subscribed capital 166.7 166.7
II Capital reserve 193.6 193.6
III Revenue reserves 57.1 57.1
IV Participatory capital 29.0 24.5
V Net profit for the year/net loss for the year    
1 Loss brought forward 3.0 -9.1
2 Net loss for the year 1.0 -23.4
3 Withdrawal from reserves 0.0 35.5
  Net profit/net loss 4.0 3.0
  Total equity capital 450.4 444.9
B Special item for investment subsidies 1.6 1.2
C Accrued liabilities    
1 Provisions for pensions and similar obligations 110.6 105.6
2 Provisions for taxation 13.2 9.7
3 Other provisions 84.8 93.9
  Total accrued liabilities 208.6 209.3
D Liabilities    
1 Due to banks 515.9 389.7
2 Advance payments received 0.7 0.3
3 Accounts payable (trade creditors) 80.9 79.6
4 Due to associated companies 346.0 291.6
5 Due to companies in which a participating interest is held 0.1 0.1
6 Other liabilities 77.0 97.5
  Total liabilities 1,020.6 858.8
E Prepayments and accrued income 0.1 0.0
  Total equity capital and liabilities 1,681.4 1,514.2

DMK GmbH group profit and loss account

PDF; 29 KB
Profit and loss account
1. January 2018 – 31. Deccember 2018 in Mio. EUR
2018 2017
1 Sales revenues 4,088.8 4,548.6
2 Increase or decrease in finished goods inventories and work in progress 71.3 48.2
3 Capitalised cost of self-constructed assets 0.8 0.9
4 Other operating income 29.5 39.8
  Subtotal 4,190.3 4,637.5
5 Cost of materials  
  a) Cost of raw materials, consumables and supplies and of purchased materials 3,485.6 3,970.5
  b) Cost of purchased services 87.8 63.0
    3,573.4 4,033.5
  Gross profit or loss 616.9 604.0
6 Personnel expenses  
  a) Wages and salaries 194.5 197.1
  b) Social security and other pension costs 40.9 37.9
    235.4 235.0
7 Depreciation    
  a) Depreciation of intangible assets and tangible assets 70.6 81.4
  b) Depreciation on current assets where this exceeds ordinary depreciation for the corporation 10.0 0
8 Other operating expenses 275.9 264.6
  Subtotal (1.-8.) 25.1 23.0
9 Income from participating interests and capital contributions 4.1 0.4
10 Income from other investments and long-term loans 4.7 1.9
11 Other interest and similar income 3.2 5.6
  Subtotal (9.-11.) 12.0 7.9
12 Write-downs of financial assets and short-term investments 6.0 24.1
13 Interest and similar expenses 20.9 19.3
14 Payment for participatory capital 0.9 1.3
15 Taxes on income 6.4 9.1
16 Result after tax 2.9 -22.9
17 Other taxes 1.8 0.5
  Net profit for the year 1.0 -23.4

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