Net Assets

WACKER’s total assets were 10 percent higher compared with December 31, 2013. They rose by € 614.8 million to € 6.95 billion as of December 31, 2014 (Dec. 31, 2013: € 6.33 billion). There are several reasons for the substantial increase. During the reporting period, the appreciation of the US dollar and other currencies against the euro had a major impact on the Group’s assets and liabilities. Currency-translation effects increased the balance sheet total by € 297.3 million, especially in the categories of noncurrent assets, equity and financial liabilities. Full consolidation of Siltronic Silicon Wafer Pte. Ltd. and Scil Proteins Production GmbH, as well as construction-project progress on the polysilicon facility in Charleston, Tennessee (USA), added to property, plant and equipment. Loans that had been granted by WACKER to Siltronic Silicon Wafer Pte. Ltd. and were accounted for as financial assets are no longer included in the consolidated financial statements. Good operating performance led to both higher trade receivables and inventory levels. On the equity and liabilities side, the increase in financial liabilities was accompanied by a rise of € 678.9 million in provisions for pensions that was due to lower discount rates. This also reduced equity by € 520.2 million. For a detailed explanation of the effects of the initial consolidation of Siltronic Silicon Wafer Pte. Ltd., please see the section of the Notes to the consolidated financial statements.

Asset and Capital Structure

Asset and Capital Structure (graphic)Asset and Capital Structure (graphic)

Combined Statement of Financial Position

  Download XLS

 

 

 

 

 

€ million

 

2014

 

2013

 

Change in %

 

 

 

 

 

 

 

Assets

 

 

 

 

 

 

Intangible assets, property, plant and equipment, and investment property

 

4,345.7

 

3,806.0

 

14.2

Investments in joint ventures and associates accounted for using the equity method

 

20.5

 

18.9

 

8.5

Other noncurrent assets

 

487.9

 

562.2

 

-13.2

Noncurrent assets

 

4,854.1

 

4,387.1

 

10.6

Inventories

 

734.3

 

616.9

 

19.0

Trade receivables

 

684.0

 

614.1

 

11.4

Other current assets

 

674.8

 

714.3

 

-5.5

Current assets

 

2,093.1

 

1,945.3

 

7.6

Total assets

 

6,947.2

 

6,332.4

 

9.7

 

 

 

 

 

 

 

Equity and Liabilities

 

 

 

 

 

 

Equity

 

1,946.5

 

2,197.1

 

-11.4

Noncurrent provisions

 

1,983.7

 

1,262.0

 

57.2

Financial liabilities

 

1,318.2

 

1,247.4

 

5.7

Other noncurrent liabilities

 

533.9

 

567.3

 

-5.9

Of which advance payments received

 

523.0

 

564.4

 

-7.3

Noncurrent liabilities

 

3,835.8

 

3,076.7

 

24.7

Financial liabilities

 

283.3

 

169.3

 

67.3

Trade payables

 

374.5

 

309.4

 

21.0

Other current provisions and liabilities

 

507.1

 

579.9

 

-12.6

Current liabilities

 

1,164.9

 

1,058.6

 

10.0

Liabilities

 

5,000.7

 

4,135.3

 

20.9

Total equity and liabilities

 

6,947.2

 

6,332.4

 

9.7

Capital employed

 

5,260.7

 

5,238.2

 

0.4