Net Assets
Tables in Excel-Format
ASSETS
| T€ | 2006 | % | 2007 | % |
|
Cash and cash equivalents |
65,280 | 3.6 | 79,250 | 4.4 |
| Trade receivables | 211,922 | 11.8 | 214,478 | 12.0 |
| Inventories | 214,526 | 11.9 | 239,741 | 13.4 |
|
Intangible assets and property, plant, and equipment |
1,191,772 | 66.1 | 1,144,451 | 63.9 |
| Other assets | 119,637 | 6.6 | 113,003 | 6.3 |
| Total | 1,803,137 | 1,790,923 | – |
EQUITY AND LIABILITIES
| T€ | 2006 | % | 2007 | % |
| Current liabilities | 445,878 | 24.7 | 403,785 | 22.5 |
|
Non current borrowings |
492,525 | 27.4 | 431,967 | 24.1 |
|
Retirement benefit obligation |
180,464 | 10.0 | 186,295 | 10.4 |
|
Deferred tax liabilities |
115,391 | 6.4 | 109,404 | 6.1 |
|
Other non current liabilities |
18,238 | 1.0 | 16,759 | 1.0 |
| Liabilities | 1,252,496 | 69.5 | 1,148,210 | 64.1 |
| Equity | 550,641 | 30.5 | 642,713 | 35.9 |
| Total | 1,803,137 | 1,790,923 | – |
Total assets of the Symrise Group are almost unchanged the prior year.
Non current borrowings were reduced by € 60.5 million with the use of the proceeds from the cash flow from operating activities. Current bank borrowings decrease by € 1.3 million compared to the prior year. In addition, the liabilities incurred from the MPP and the warrant agreement (see Note 8.16 in the Notes to the Consolidated Financial Statements) with Commerzbank were paid in 2007. This resulted in a significant decrease in current liabilities.
Intangible assets and property, plant, and equipment came to € 1,144.5 million (2006: € 1,191.8 million), accounting for around two-thirds of total assets, and are fully covered by fixed borrowings and equity. As in the prior year, the main components of non current assets included the goodwill acquired through business combinations (€ 411.9 million; 2006: € 412.4 million) as well as recipes, production knowledge, and trademarks (€ 351.1 million; 2006: € 360.8 million). For further information on the valuation of intangible assets and the sensitivities to changed parameters, we refer to the Notes to the Consolidated Financial Statements.
Driven by growth, the working capital adjusted for currency and measurement effects rose by € 20.4 million.