Financial position
Summarized balance sheet
in millions of EUR | 2017 | 2016 |
---|---|---|
Property, plant and equipment | 489 | 444 |
Intangible assets | 1,654 | 1,458 |
Other non-current assets | 63 | 96 |
Non-current assets | 2,206 | 1,998 |
Inventories | 350 | 293 |
Other current assets | 336 | 303 |
Cash and cash equivalents | 165 | 181 |
Current assets | 851 | 777 |
Total assets | 3,056 | 2,775 |
Total equity | 1,121 | 1,007 |
Borrowings | 377 | 388 |
Other non-current liabilities | 237 | 179 |
Non-current liabilities | 615 | 568 |
Trade and other payables | 640 | 588 |
Borrowings | 613 | 543 |
Other current liabilities | 69 | 69 |
Current liabilities | 1,321 | 1,200 |
Total equity and liabilities | 3,056 | 2,775 |
Non-current assets increased from €1,998 million to €2,206 million in 2017 mainly as a result of investments and acquisitions which was partly offset by depreciation, amortization, impairments and currency effects. Current assets increased from €777 million to €851 million as inventories and receivables increased from operations, store expansion and acquisitions.
Total equity increased from €1,007 million to €1,121 million mainly as a result of the 2017 net result offset by dividends paid and currency translation effects.
Non-current liabilities increased from €568 million to €615 million mainly as a result from an increase in post-employment benefits from acquisitions. Current liabilities increased from €1,200 million to €1,321 million, driven by an increase in borrowings under the commercial paper program and an increase in payables from acquisitions and operations.