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Development of Net Financial Position

The following graph shows the development of the net financial position.

in million euros

2016

20174

2018

20195

1st HY 2020

Cash and cash equivalents
securities and term deposits1

1,398

1,159

1,322

1,898

2,629

Financial debt2

-3,699

-4,381

-4,217

-3,945

-4,580

Net financial position3

-2,301

-3,222

-2,895

-2,047

-1,951

Provisions for pensions and
similar obligations

-1,007

-760

-794

-635

-545

1 Including financial collateral provided.
2 Consists of current and non-current borrowings, financial collateral received as well as derivative financial instruments (positive and negative fair values of hedging transactions).
3 Defined as cash and cash equivalents plus readily monetizable securities & time deposits and financial collateral provided, less borrowings, plus positive and minus negative fair values of derivative financial instruments.
4 Figures amended (please refer to the notes in the annual report 2018 on pages 140 and 141).
5 Figures amended (please refer to half-year financial report 2020 page 24).


The net financial position is defined as cash and cash equivalents plus readily monetizable securities & time deposits and financial collateral provided, less borrowings, plus positive and minus negative fair values of derivative financial instruments.

Financial Glossary Schließen

Financial instrument, the value of which changes in response to changes in an underlying asset or an index, which will be settled at a future date and which initially requires only a small or no investment. 

Financial Glossary Schließen