Deviations from forecast
Outlook for 2019 financial year | 2018 | 2019 (March 2019 | 2019 (July 2019 | 2019 | |
| Gross capital expenditures | 11.2 | >13 | >13 | 13.1 |
| Net capital expenditures | 4.0 | >5.5 | >5.5 | 5.6 | |
| Maturities | 2.2 | 2.2 | 2.2 | 2.2 | |
| Bond issues (senior) | 2.9 | ≤3 | ≤3 | 2.0 | |
| Cash and cash equivalents as of Dec 31 | 3.5 | ~3 | ~3 | 4.0 | |
| Net financial debt as of Dec 31 | 19.5 | ~24.4 | ~24.4 | 24.2 | |
Capital expenditures were in line with our forecast.
With respect to DB Groupʼs financial position, actual developments in the year under review largely corresponded with our forecast for maturities.
Bond issues for senior bonds were below our expectations as a result of other financing measures.
Cash and cash equivalents as of December 31, 2019 were higher than expected due to the better than expected development of indebtedness, among other things.
