MCKESSON EUROPE AG McKesson Europe AG
Annual Financial Statements
for the 2021 Fiscal Year from 01 April 2020 to 31 March 2021
Statement of financial position as at 31 March 2021
Note | 31/03/2020 | 31/03/2021 | |||||||
Assets | No. | thsd. EUR | thsd. EUR | ||||||
Non-current assets | |||||||||
Intangible assets | 1 | 71,960 | 95,813 | ||||||
Property, plant and equipment | 2 | 6,362 | 4,848 | ||||||
Financial assets | 3 | 2,471,388 | 3,027,119 | ||||||
2,549,710 | 3,127,780 | ||||||||
Current assets | |||||||||
Receivables and other assets | 4 | 479,489 | 329,207 | ||||||
Shares related parties | 5 | 104,671 | 0 | ||||||
Cash and cash equivalents | 6 | 969,496 | 694,158 | ||||||
1,553,656 | 1,023,365 | ||||||||
Prepaid expenses | 7 | 17,130 | 7,548 | ||||||
Total Assets | 4,120,496 | 4,158,693 | |||||||
Note | 31/03/2020 | 31/03/2021 | |||||||
LIABILITIES | No. | thsd. EUR | thsd. EUR | ||||||
Equity | |||||||||
Issued capital | 8 | 260,123 | 260,123 | ||||||
Capital reserves | 8 | 1,762,627 | 1,762,627 | ||||||
Revenue reserves | 8 | 1,102,781 | 1,102,781 | ||||||
Net retained profit | 9 | 0 | 0 | ||||||
Contingent capital | 21,773 | 21,773 | |||||||
3,125,531 | 3,125,531 | ||||||||
Provisions | |||||||||
Provisions for pensions and similar obligations | 10 | 38,009 | 36,557 | ||||||
Other provisions | 11 | 27,669 | 20,698 | ||||||
65,678 | 57,255 | ||||||||
Liabilities | 12 | 929,287 | 975,907 | ||||||
Prepaid expenses | 0 | 0 | |||||||
Total equity and liabilities | 4,120,496 | 4,158,693 |
McKesson Europe AG 2021 | 4 |
Income statement for the 2021 fiscal year, from 01/04/2020 to 31/03/2021
01/04/2019 | 01/04/2020 | |||||
Note | until | until | ||||
31/03/2020 | 31/03/2021 | |||||
No. | thsd. EUR | thsd. EUR | ||||
Sales | 16 | 107,468 | 93,056 | |||
Own work capitalized | 17 | 1,870 | 3,012 | |||
Other income | 18 | 54,116 | 242,480 | |||
Service related expenses | 19 | - 54,142 | - 53,306 | |||
Personnel expenses | 20 | - 47,561 | - 43,605 | |||
Amortization of intangible assets and property, plant and equipment | - 10,140 | - 10,517 | ||||
Other expenses | 21 | - 74,148 | - 79,029 | |||
Investment result | 22 | - 16,372 | - 242,466 | |||
Interest result | 23 | 45,429 | 44,139 | |||
Income taxes | 24 | - 7,219 | - 6,915 | |||
Earnings after income tax | - 699 | - 53,151 | ||||
Gain of loss transfer | - 699 | - 53,151 | ||||
Net profit for the year | 0 | 0 | ||||
Retained earnings from the previous year | 0 | 0 | ||||
Allocation to other revenue reserves | 0 | 0 | ||||
Net retained profit | 0 | 0 |
McKesson Europe AG 2021 | 5 |
Annex
General disclosures
The annual financial statements of McKesson Europe AG, Stuttgart, as at 31 March 2021, were compiled in euros (EUR) in accordance with Sections 242 et seqq. and Sections 264 et seqq. of the Handelsgesetzbuch (HGB, German Commercial Code) and the relevant provisions of the Aktiengesetz (AktG, German Stock Corporation Act). The requirements for major corporations apply. The income statement is prepared using the nature of expense method.
The stock corporation is headquartered in Stuttgart, Germany. The address is McKesson Europe AG, Stockholmer Platz 1, D-70173 Stuttgart, local court of Stuttgart, HRB 9517.
The annual financial statements of McKesson Europe AG reflect the activities of a management holding company. There- fore, sales mainly include the services provided to subsidiaries. Income from investments and profit and loss transfer agreements are additional sources of the company's earnings. Furthermore, group financing represents a focus of operations.
Individual items from the balance sheet as well as the income statement are summarized in accordance with Section 265 Paragraph 7 No. 2 HGB and separately listed and explained in these notes. The information on allocation to other items and "thereof" notes are also provided.
As part of the domination and profit and loss transfer agreement, the net profit of McKesson Europe AG is transferred to McKesson Europe Holdings GmbH & Co. KGaA, Stuttgart. The annual financial statements and the management report of McKesson Europe AG for the fiscal year 2021 are published in the Federal Gazette. The management report of McKesson Europe AG is combined with the group management report, as McKesson Europe AG is the management holding company of the group and its risks and opportunities are corresponding to those of its subsidiaries.
Principles of accounting and evaluation
The methods of accounting and valuation of the assets and liabilities are stated in the notes relating to the individual items in the statement of financial position.
McKesson Europe AG 2021 | 6 |
Information on the statement of financial position
Development in non-current assets in 2021
Property, plant and | Financial | |||||||||||||
Intangible assets | equipment | assets | Total | |||||||||||
Internally- | Purchased | Other | ||||||||||||
developed | conces- | equipment | ||||||||||||
capitalized | sions and | Buildings | , furniture | |||||||||||
intangible | industrial | on third- | and | |||||||||||
assets | rights | party land | fixtures | |||||||||||
thsd. EUR | thsd. EUR | thsd. EUR | thsd. EUR | thsd. EUR | thsd. EUR | |||||||||
Accumulated historical cost as of 01/04/2020 | 112,678 | 105,335 | 1,510 | 12,080 | 3,434,162 | 3,665,765 | ||||||||
Additions | 31,518 | 174 | 0 | 1,164 | 1,838,758 | 1,871,614 | ||||||||
Disposals | 0 | 0 | 0 | 0 | - 1,109,122 | - 1,109,122 | ||||||||
Reclassifications | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Accumulated historical | ||||||||||||||
cost as of 31/03/2021 | 144,196 | 105,509 | 1,510 | 13,244 | 4,163,798 | 4,428,257 | ||||||||
Accumulated amortization/ depreciation as of | ||||||||||||||
01/04/2020 | 53,748 | 92,305 | 503 | 6,725 | 962,774 | 1,116,055 | ||||||||
Additions | 5,477 | 2,362 | 151 | 2,527 | 223,022 | 233,539 | ||||||||
Disposals | 0 | 0 | 0 | 0 | - 49,117 | - 49,117 | ||||||||
Reclassifications | 0 | 0 | 0 | 0 | 0 | 0 | ||||||||
Accumulated amortization/ depreciation as of | ||||||||||||||
31/03/2021 | 59,225 | 94,667 | 654 | 9,252 | 1,136,679 | 1,300,477 | ||||||||
Amortized costs as at 31/03/2021 | 84,971 | 10,842 | 856 | 3,992 | 3,027,119 | 3,127,780 | ||||||||
Amortized costs as at 31/03/2020 | 58,930 | 13,030 | 1,007 | 5,355 | 2,471,388 | 2,549,710 | ||||||||
Intangible assets include software and trademarks. Tenant fixtures, other equipment and furniture and fixtures are recorded under property, plant and equipment. The development of the financial assets is explained under (3) Financial assets.
- Intangible assets
Intangible assets acquired are accounted for at acquisition cost. They are amortized on a straight-line basis over three to five years.
In addition, internally developed intangible assets were capitalized during the fiscal year, exercising the option provided in Section 248 Paragraph 2 HGB. This capitalization was valued at development cost in accordance with Section 253 Paragraph 1 Sentence 1 and Section 255 Paragraph 2a HGB. The internally developed intangible assets are development costs for the global ERP software. Costs include the directly attributable individual costs as well as appropriate percentages of overhead and social security costs. Administration costs are not capitalized. Financing costs of EUR 1,133 thsd (previous year EUR 561 thsd) were capitalized. Total ERP project expenses of EUR 31,518 thsd. (previous year EUR 31,934 thsd) were capitalized in this financial year.
McKesson Europe AG 2021 | 7 |
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Disclaimer
McKesson Europe AG published this content on 13 December 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 20 December 2021 11:49:09 UTC.
