Net Assets

Total assets rose from €86,556 million as of the end of 2018 to €89,591 million. This was due to the €16,230 million increase in noncurrent assets to €59,565 million. All items except intangible assets contributed here. The main driver was investments accounted for using the equity method, which rose by €13,992 million to €16,195 million. This was primarily attributable to the addition of the interest in Wintershall Dea in the second quarter of 2019. The addition of our interest in Solenis was already included in the first-quarter figure following the transfer of our paper and water chemicals business to Solenis. Property, plant and equipment in particular also increased, mainly due to the capitalization of right-of-use assets arising from leases in the amount of €1.3 billion as a result of the initial application of IFRS 16.

Current assets declined by €13,195 million to €30,026 million. This was largely attributable to the derecognition of assets of disposal groups in the total amount of €14.6 billion for the paper and water chemicals business in the first quarter, and for the oil and gas business in the second quarter of 2019. The reclassification of the assets of the pigments business to a disposal group1 in the third quarter of 2019 had an offsetting effect, as did the increase in other receivables and miscellaneous assets.

1 For more information, see Significant Events in this quarterly statement