Balance sheet (IFRS)

BALANCE SHEET (IFRS)
 
EUR million Note 31 Dec 2017 31 Dec 2016
 
ASSETS
 
Non-current assets
Goodwill 14, 30, 31 441.3 409.7
Other intangible assets     14 51.1 52.3
Property, plant and equipment     15 94.9 94.0
Investments accounted for using the equity method     29 16.3 16.5
Deferred tax assets     13 25.7 29.9
Finance lease receivables     23 0.8 2.2
Other interest-bearing receivables       0.4 0.0
Available-for-sale financial assets     16 0.5 0.7
Total non-current assets       631.0 605.3
Current assets          
Trade and other receivables     17 420.7 390.3
Pension benefit assets     11 7.4 7.4
Finance lease receivables     23 2.0 3.5
Other interest-bearing receivables       0.0 0.3
Current income tax receivables       8.7 11.0
Cash and cash equivalents     18 78.2 56.7
Total current assets       517.0 469.2
           
Total assets       1 148.0 1 074.5
           
EQUITY AND LIABILITIES
           
Equity          
Share capital     19 76.6 76.6
Share issue premiums and other reserves     19 42.6 43.4
Share issue based on stock options     19 - -
Retained earnings       356.0 368.1
Parent shareholders' equity       475.2 488.1
Non-controlling interest       0.4 -
Total equity       475.6 488.1
Non-current liabilities          
Loans   20, 23 102.5 103.8
Deferred tax liabilities     13 38.3 34.9
Provisions     22 2.6 5.4
Pension obligations     11 11.9 13.9
Other non-current liabilities       3.8 0.2
Total non-current liabilities       159.1 158.2
Current liabilities          
Trade and other payables     24 362.5 344.6
Current income tax liabilities       5.9 3.5
Provisions     22 10.3 11.5
Loans   20, 23 134.6 68.6
Total current liabilities       513.3 428.2
           
Total equity and liabilities       1 148.0 1 074.5
 
Notes are an integral part of these consolidated financial statements.

Comments to the balance sheet

Assets

The consolidated balance sheet totalled EUR 1 148.0 (1 074.5) million, up by 6.8%. Goodwill increased to EUR 441.3 (409.7) million. Acquisitions added EUR 40.6 million to goodwill. Direct capital expenditure on fixed assets including new finance lease agreements amounted to EUR 50.8 (61.6) million.

Distribution of total assets    
     
31 Dec, % 2017 2016
Goodwill 38.4 38.1
Other intangible assets 4.4 4.9
Tangible assets 8.3 8.7
Other assets 42.0 43.0
Cash and cash equivalents 6.8 5.3
Total 100.0 100.0

Equity and liabilities

The total equity amounted to EUR 475.6 (488.1) million. The net profit for the year increased equity by EUR 107.8 million and dividend payment decreased equity by EUR 101.0 million.

The equity ratio was 42.6% (47.3). Gearing increased to 32.7% (22.5). Interest-bearing net debt totalled EUR 155.7 (109.7) million, including EUR 234.7 (166.9) million in interest-bearing debt, EUR 2.5 (5.5) million in finance lease liabilities, EUR 2.8 (5.7) million in finance lease receivables, EUR 0.5 (0.3) million in other interest-bearing receivables and EUR 78.2 (56.7) million in cash and cash equivalents.

Distribution of total equity and liabilities    
     
31 Dec, % 2017 2016
Share capital 6.7 7.1
Other parent shareholders' equity 34.8 38.3
Interest-bearing liabilities 20.7 16.0
Non-interest-bearing debt 37.8 38.6
Total 100.0 100.0