pdf (18.3 MB) - METRO Group
pdf (18.3 MB) - METRO Group
pdf (18.3 MB) - METRO Group
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<strong>METRO</strong> GROUP : ANNUAL REPORT 2010 : BUSINESS<br />
→ GROUP MANAGEMENT REPORT : 4. FINANCIAL ANd ASSET POSITION<br />
Further information on the development of liabilities can be<br />
found in the notes to the consolidated financial statements<br />
in the numbers listed in the table.<br />
Asset position<br />
In the financial year 2010, total assets rose by €1,785 million<br />
to €35,067 million. Non-current assets increased by €448<br />
million to €18,912 million during the financial year 2010. Current<br />
assets rose by €1,337 million to €16,155 million.<br />
Non-current assets<br />
€ million Note no. 31/12/2010 31/12/2009<br />
Non-current assets 18,912 18,464<br />
Goodwill 17, 18 4,064 3,992<br />
Other intangible assets 17, 19 436 497<br />
Tangible assets 17, 20 12,482 12,244<br />
Investment properties 17, 21 238 129<br />
Financial assets 17, 22 248 113<br />
Other receivables and assets 23 444 463<br />
deferred tax assets 24 1,000 1,026<br />
The rise in goodwill that totalled €72 million was largely due<br />
to the recognition of shareholders’ stock tender rights<br />
granted to non-controlling shareholders. The rise in tangible<br />
assets totalling €238 million primarily resulted from<br />
the opening of new stores by Metro Cash & Carry as well as<br />
Media Markt and Saturn along with positive currency effects<br />
in Eastern Europe and Asia. As a result of the abandonment<br />
of plans for self-use, real estate was reclassified from tangible<br />
assets to the balance sheet item “investment properties”<br />
(€109 million).<br />
Additional information on the development on non-current<br />
assets is shown in the notes to the consolidated financial<br />
statements in the numbers listed in the table.<br />
Current assets<br />
→ p. 095<br />
€ million Note no. 31/12/2010 31/12/20091 Current assets 16,155 14,818<br />
Inventories 25 7,458 7,110<br />
Trade receivables 26 526 539<br />
Financial assets 3 38<br />
Other receivables and assets 23 2,724 2,613<br />
Income tax refund entitlements 412 405<br />
Cash and cash equivalents 29 4,799 3,996<br />
Assets held for sale 30 233 117<br />
1 Adjustment due to revised disclosure<br />
Inventories rose by €348 million to €7,458 million. The<br />
increase was primarily due to the international expansion of<br />
the sales divisions Metro Cash & Carry as well as Media<br />
Markt and Saturn. An additional increase in inventory levels<br />
due to currency effects was prevented by the reclassification<br />
of inventories to the balance sheet item “assets held for<br />
sale” in the context of the agreed-upon sale of consumer<br />
electronics stores in France. “Assets held for sale” totalling<br />
€196 million were reported in the financial year 2010 in<br />
connection with the consumer electronics stores to be sold<br />
in France. A total of €56 million in “assets held for sale” were<br />
sold. In addition, real estate totalling €69 million was<br />
reclassified as non-current assets as a result of its planned<br />
internal use in the <strong>Group</strong>.<br />
Additional information on the development of current assets<br />
is shown in the notes to the consolidated financial statements<br />
in the numbers listed in the table.