HOCHBAHN Annual Report 2015

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2.3.3 Investments
The balance sheet total of the HOCHBAHN as at 31 December 2015 stood at € 915.4
million, € 83.1 million or 10.0 % higher than the year before. This largely reflects the
increase in tangible assets on the assets side. The main reason for this is the procurement
of new U-Bahn units of the DT5 generation. Parallel to this, the liabilities towards
banks were higher as a result of taking out new loans to finance investments in such
tangible assets.
The equity capital as at the balance sheet date is unchanged, at € 142.4 million. As a
consequence of the higher balance sheet total, the equity ratio of the HOCHBAHN fell in
purely arithmetical terms year-on-year by 1.5 percentage points to 15.6 %.
Assets
2015
€ million
2015
Share %
2014
€ million
Tangible assets (including intangible assets) 690.3 75.4 588.4
Financial assets 141.9 15.5 144.2
832.2 90.9 732.6
Inventories 17.6 1.9 16.7
Trade accounts receivable 8.3 0.9 12.4
Liquid funds (cash flow) 6.2 0.7 5.1
Other current assets and prepaid
and accrued items 51.1 5.6 65.5
83.2 9.1 99.7
915.4 100.0 832.3
Shareholders’ equity and liabilities
2015
€ million
2015
Share %
2014
€ million
Equity capital 142.4 15.6 142.4
Accruals for pensions 54.3 5.9 49.5
Loans from banks and other loans 457.5 50.0 376.8
654.2 71.5 568.7
Other provisions 154.6 16.9 159.4
Trade accounts payable 31.7 3.4 45.2
Other liabilities and deferred items 74.9 8.2 59.0
261.2 28.5 263.6
915.4 100.0 832.3
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