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Development of Net Financial Position

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

in million euros20152016201742018

Q3 2019

Cash and cash equivalents
securities and term deposits1

1,191

1,398

1,159

1,322

2,727

Financial debt2

-856

-3,699

-4,381

-4,217

-4,983

Net financial position3

335

-2,301

-3,222

-2,895

-2,256

Provisions for pensions and
similar obligations

-988

-1,007

-760

-794

-874

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 financial instruments classified as "available for sale" or in the "fair value option", less borrowings, and plus positive and less negative fair values of hedging transactions.
4 Figures amended (please refer to the notes in the annual report 2018 on pages 140 and 141).


Net financial position is defined as cash and cash equivalents plus readily monetizable financial instruments classified as “available for sale” or in the “fair value option,” less borrowings, and plus positive and less negative fair values of hedging transactions.

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