Net Assets

Total assets rose from €78,768 million as of year-end 2017 to €81,857 million. Noncurrent assets declined by €289 million to €47,334 million, mainly due to lower property, plant and equipment, deferred tax assets and intangible assets. This contrasted in particular with higher other receivables and other assets. The €3,378 million rise in current assets to €34,523 million was largely attributable to higher cash and cash equivalents, which were primarily increased with a view to payment of the purchase prices for the planned acquisitions, as well as higher other receivables and miscellaneous assets.