Chapters
Annual Report 2018

Financial position

Summarized balance sheet

in millions of EUR

2018

2017

Property, plant and equipment

517

489

Intangible assets

1,616

1,654

Other non-current assets

97

63

Non-current assets

2,229

2,206

Inventories

331

350

Other current assets

316

336

Cash and cash equivalents

138

165

Current assets

785

851

Total assets

3,014

3,056

Total equity

1,252

1,121

Borrowings

363

377

Other non-current liabilities

201

237

Non-current liabilities

564

615

Trade and other payables

621

640

Borrowings

515

613

Other current liabilities

61

69

Current liabilities

1,197

1,321

Total equity and liabilities

3,014

3,056

Non-current assets increased from €2,206 million to €2,229 million in 2018 mainly as a result of investments in rebranding and capital expenditures.

Current assets decreased from €851 million to €785 million as inventories and receivables decreased from operations .

Total equity increased from €1,121 million to €1,252 million mainly due to the result of the year being partially offset by Dividend payments.

Non-current liabilities decreased from €615 million to €564 million mainly as a result from the prurchase of 9% of Visilab shares becoming a short-term liability.

Current liabilities decreased from €1,321 million to €1,197 million, driven by a decrease in payables from operations and borrowings.