Accounting policies

If there is reasonable certainty that a grant will be received and that all related conditions will be fulfilled, grants are recognised at fair value.

If a grant concerns a cost item, it is recognised as income in matching with the expenses it is to compensate for. If it concerns an asset, its fair value is recognised as deferred income, and then it is written off annually in equal parts through the statement of comprehensive income over the estimated useful life of the asset.

Note Dec 31 2021 Dec 31 2020
At beginning of period  45.9  30.9 
Grants recived in the period 40.7 21.7
Deferred grants (12.0) (6.7)
At the end period 74.6  45.9 
long-term portion 10.13 52.4 23.8
short-term portion 10.13 22.2 22.1

The grants mainly include EU funding for the purchase of modern intermodal rolling  stock, subsidies, for the use of railway infrastructure in Germany, free licences and subsidies from the EcoFund to finance use of waste gas from offshore oil extraction facilities for heating purposes.

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