Net assets

Assets

 

 

December 31, 2016

December 31, 2015

 

 

Million €

%

Million €

%

Intangible assets

 

15,162

19.8

12,537

17.7

Property, plant and equipment

 

26,413

34.5

25,260

35.7

Investments accounted for using the equity method

 

4,647

6.1

4,436

6.3

Other financial assets

 

605

0.8

526

0.7

Deferred taxes

 

2,513

3.3

1,791

2.5

Other receivables and miscellaneous assets

 

1,210

1.6

1,720

2.4

Noncurrent assets

 

50,550

66.1

46,270

65.3

 

 

 

 

 

 

Inventories

 

10,005

13.1

9,693

13.7

Accounts receivable, trade

 

10,952

14.3

9,516

13.4

Other receivables and miscellaneous assets

 

3,078

4.0

3,095

4.4

Marketable securities

 

536

0.7

21

.

Cash and cash equivalents

 

1,375

1.8

2,241

3.2

Current assets

 

25,946

33.9

24,566

34.7

Total assets

 

76,496

100.0

70,836

100.0

Assets

  • Rise in both current and noncurrent assets
  • Noncurrent assets especially boosted by Chemetall acquisition

Amounting to €76,496 million, the level of total assets was €5,660 million above that of the previous year.

Noncurrent assets rose by €4,280 million to €50,550 million. The €2,625 million increase in intangible assets was mainly due to the Chemetall acquisition. Additions amounted to €2,881 million, €1,552 million of which was goodwill. Currency effects increased intangible assets by €409 million. Amortization1 reduced them by €560 million and disposals by €91 million.

The value of property, plant and equipment rose by €1,153 million to €26,413 million. Additions amounted to €4,377 million, €4,222 million of which was to investments, putting them above the level of depreciation1, which amounted to €3,691 million. Additions from acquisitions amounted to €155 million and arose especially from the Chemetall acquisition. Currency effects increased property, plant and equipment by €570 million. Disposals reduced this item by €242 million, €97 million of which was attributable to divestitures.

Investments accounted for using the equity method rose by €211 million to €4,647 million, primarily as a result of additions and currency effects.

Other financial assets increased by €79 million to €605 million and deferred tax assets rose by €722 million to €2,513 million, especially from the increase in provisions for pensions and similar obligations.

Other receivables and miscellaneous assets were down by €510 million to €1,210 million year-on-year. This was largely the result of a decline in the positive fair value of derivatives and lower receivables from loans as well as a lower level of defined benefit assets.

The value of current assets rose by €1,380 million to €25,946 million. The €1,436 million increase in trade accounts receivable resulted mainly from higher year-on-year sales in the fourth quarter as well as from currency effects. Inventories grew by €312 million; other receivables and miscellaneous assets fell by €17 million. With the acquisition of Chemetall on December 14, 2016, these three items increased by €276 million. Marketable securities rose by €515 million due to the optimization of short-term financial investments.

At €1,375 million, cash and cash equivalents were €866 million below the level of December 31, 2015.

1 Including impairments and write-ups