Net Assets
| Summary statement of financial position | ||
|---|---|---|
| Dec. 31, 2023 | Dec. 31, 2024 | |
| € million | € million | |
| Noncurrent assets | 7,746 | 7,865 |
| Current assets | 5,891 | 5,766 |
| Total assets | 13,637 | 13,631 |
| Equity | 6,618 | 6,679 |
| Noncurrent liabilities | 3,721 | 3,376 |
| Current liabilities | 3,298 | 3,576 |
| Liabilities | 7,019 | 6,952 |
| Total equity and liabilities | 13,637 | 13,631 |
Total assets were almost unchanged from December 31, 2023 and amounted to €13,631 million as of December 31, 2024 (previous year: €13,637 million).
Noncurrent assets increased by €119 million to €7,865 million (previous year: €7,746 million) and accounted for 57.7% (previous year: 56.8%) of total assets. The rise was mainly due to higher property, plant and equipment.
Current assets were down €125 million to €5,766 million (previous year: €5,891 million), and their ratio to total assets was 42.3% (previous year: 43.2%). This change was predominantly due to year-on-year declines in current other financial assets, trade accounts receivable, and cash and cash equivalents. It was partially offset by a rise in inventories.
Equity as of December 31, 2024, increased by €61 million to €6,679 million (previous year: €6,618 million). The equity ratio at the reporting date was 49.0% (previous year: 48.5%). Positive effects of exchange differences as well as gains on the remeasurement of the net defined benefit liability for post-employment benefit plans exceeded the net loss after income taxes for fiscal 2024.
Noncurrent liabilities went down by €345 million to €3,376 million as of the reporting date (previous year: €3,721 million); they accounted for 24.8% (previous year: 27.3%) of total equity and liabilities and 48.6% (previous year: 53.0%) of liabilities. This was predominantly due to a reduction in noncurrent financial debt and lower provisions for pensions and other post-employment benefits.
| Net defined benefit liability for post-employment benefit plans | ||
|---|---|---|
| Dec. 31, 2023 | Dec. 31, 2024 | |
| € million | € million | |
| Provisions for pensions and other post-employment benefits | 464 | 387 |
| Net defined benefit asset | (66) | (72) |
| Net defined benefit liability | 398 | 315 |
The net defined benefit liability for post-employment benefits (provisions for pensions and other post-employment benefits less net defined benefit asset) was down by €83 million in the reporting year to €315 million (previous year: €398 million). This was especially due to actuarial gains attributable to the increase in the discount rates in Germany and the United States as well as the actual return on plan assets.
Current liabilities went up by €278 million to €3,576 million (previous year: €3,298 million) and therefore accounted for 26.2% (previous year: 24.2%) of total equity and liabilities and 51.4% (previous year: 47.0%) of liabilities. This increase was mainly attributable to higher trade accounts payable.