Net assets

Decrease in consolidated total assets

The Group’s total assets amounted to €67,378 million as of June 30, 2025, and were thus €2,497 million lower than on December 31, 2024 (€69,875 million).

At €47,726 million, noncurrent assets were below the figure as of the comparison date (€49,728 million). Among other things, lower goodwill, principally due to currency effects, reduced intangible assets by €317 million to €14,556 million. At €30,112 million, the amount of property, plant and equipment was significantly lower than on December 31, 2024 (€31,454 million), with depreciation and impairment losses, disposals and negative currency effects considerably exceeding capital expenditure. Trade receivables declined from €11,198 million as of December 31, 2024, to €10,600 million. In advance of the planned merger with the British parcel delivery company Evri, all assets of DHL eCommerce UK were reclassified as held for sale. This resulted in an increase in the corresponding balance sheet item from €23 million as of December 31, 2024, to €566 million as of the reporting date. Cash and cash equivalents decreased by €469 million to €3,150 million.

At €20,641 million, equity attributable to Deutsche Post AG shareholders was lower than on December 31, 2024 (€23,793 million). The consolidated net profit for the period and gains from the remeasurement of pension obligations increased this figure, while the dividend distribution, currency effects and further share buybacks had the opposite effect. Higher interest rates, in particular, resulted in a significant decrease of €205 million in provisions for pensions and similar obligations to €2,058 million. Financial liabilities increased in the first half of 2025 from €24,209 million at year-end 2024 to €25,881 million. The bonds placed in March and June played a significant part in this. Trade payables declined from €8,635 million to €7,448 million. Other current liabilities rose slightly by €153 million to €5,831 million. The increase in liabilities associated with assets held for sale, by €324 million to €339 million, was due to the planned merger with Evri.

Increase in net debt to €21,331 million

Our net debt increased from €18,998 million as of December 31, 2024, to €21,331 million as of June 30, 2025.