Asset position

In financial year 2014/15, total assets decreased by €500 million to €27.7 billion (30/9/2014: €28.2 billion).

In financial year 2014/15, non-current assets declined by €2.4 billion to €13.2 billion, primarily due to a reduction in property, plant and equipment of €2 billion to €8.0 billion (30/9/2014: €10.0 billion). This was caused by negative currency effects – particularly in Russia – and the disposal of property, plant and equipment in connection with the sale of the Galeria Kaufhof group. Additional factors included impairment losses on goodwill at Real Germany in the amount of €446 million and the disposal of goodwill of the Galeria Kaufhof group in the amount of €71 million. In contrast, the acquisition of Klassisk Investment Limited including all subsidiaries of the Classic Fine Foods group for €143 million was the key driver behind an increase in goodwill (30/9/2015: €3.3 billion; 30/9/2014: €3.7 billion). The increase in other intangible assets was primarily due to the acquisition of the Classic Fine Foods group, with the acquired customer base accounting for €62 million and the Classic Fine Foods brand accounting for €48 million. Investments accounted for using the equity method primarily increased by the 40 per cent share of METRO PROPERTIES in the joint venture with Carlton Investment, Berlin, (10 Real hypermarkets) in the amount of €83 million.

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€ million

Note no.

30/9/2014

30/9/2015

Non-current assets

 

15,572

13,207

Goodwill

19

3,671

3,301

Other intangible assets

20

380

464

Property, plant and equipment

21

10,025

7,955

Investment properties

22

223

170

Financial investments

23

71

117

Investments accounted for using the equity method

23

95

184

Other financial and non-financial assets

24

272

292

Deferred tax assets

25

835

724

For more information about the development of non-current assets, see the notes to the consolidated financial statements in the numbers listed in the table.

Current assets rose by €1.8 billion to €14.4 billion. This increase is due largely to the €2.0 billion increase in cash and cash equivalents (30/9/2015: €4.4 billion; 30/9/2014: €2.4 billion) that was primarily due to the sale of the Galeria Kaufhof group. Other financial and non-financial assets also increased by €454 million to €3.4 billion (30/9/2014: €3.0 billion). This was due largely to the recognition of a €415 million investment in an exchange-listed, highly liquid money market fund in the item short-term securities. The decline in inventories is also due to the sale of the Galeria Kaufhof group.

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€ million

Note no.

30/9/2014

30/9/2015

1

Adjustment of previous year’s figures (see notes to the consolidated financial statements – notes to the group accounting principles and methods)

Current assets

 

12,584

14,449

Inventories

26

5,946

5,439

Trade receivables

27

560

702

Financial investments

 

1

6

Other financial and non-financial assets

24

2,9811

3,435

Entitlements to income tax refunds

 

223

202

Cash and cash equivalents

30

2,406

4,415

Assets held for sale

31

4671

250

For more information about the development of current assets, see the notes to the consolidated financial statements in the numbers listed in the table.