Trends: Equity and Liabilities
|
|
|
|
|
€ million |
|
2023 |
|
2022 |
|---|---|---|---|---|
|
|
|
|
|
Equity |
|
4,579.9 |
|
5,030.7 |
Noncurrent provisions |
|
1,053.0 |
|
981.5 |
Financing liabilities |
|
1,088.1 |
|
1,085.6 |
Other noncurrent liabilities |
|
370.4 |
|
376.3 |
Of which noncurrent advance payments |
|
222.8 |
|
224.4 |
Noncurrent liabilities |
|
2,511.5 |
|
2,443.4 |
Financing liabilities |
|
417.5 |
|
461.4 |
Trade payables |
|
878.9 |
|
885.6 |
Other current provisions and liabilities |
|
466.6 |
|
580.3 |
Current liabilities |
|
1,763.0 |
|
1,927.3 |
Liabilities |
|
4,274.5 |
|
4,370.7 |
Total equity and liabilities |
|
8,854.4 |
|
9,401.4 |
Capital employed |
|
5,192.3 |
|
4,526.6 |
Equity Ratio at 51.7 Percent
Group equity declined substantially year over year and amounted to €4.58 billion as of December 31, 2023 (Dec. 31, 2022: €5.03 billion). The corresponding equity ratio was 51.7 percent (Dec. 31, 2022: 53.5 percent). The net profit for the year increased retained earnings by €327.3 million (Dec. 31, 2022: €1,281.6 million). The dividend payment of Wacker Chemie AG reduced retained earnings by €596.1 million. The adjustment of provisions for pensions, which was recognized in other comprehensive income, reduced other equity items by €61.9 million and lowered equity. Currency translation had a negative impact of €125.0 million on equity. The share of equity attributable to non-controlling interests amounted to €163.1 million as of the reporting date (Dec. 31, 2022: €166.9 million).
Liabilities Roughly Constant
WACKER’s liabilities declined by €96.2 million compared with the previous year, down 2.2 percent to €4.27 billion. Provisions for pensions rose by €66.0 million year over year and totaled €834.9 million. This was due to the application of significantly lower discount rates to Wacker Chemie AG’s pension obligations, which were recognized in noncurrent provisions. The discount rates were 3.30 percent in Germany (Dec. 31, 2022: 3.71 percent) and 4.78 percent in the USA (Dec. 31, 2022: 4.98 percent). Other noncurrent provisions mainly comprised anniversary provisions, and provisions for environmental protection and phased early retirement.
Other noncurrent liabilities came to €370.4 million (Dec. 31, 2022: €376.3 million). They mainly comprised contract liabilities in the shape of advance payments received and noncurrent income tax liabilities. Trade payables remained almost unchanged at €878.9 million (Dec. 31, 2022: €885.6 million). Other current provisions and liabilities fell 19.6 percent to €466.6 million (Dec. 31, 2022: €580.3 million), mainly due to the lower performance-based compensation for 2023. Current advance payments received amounted to €82.3 million as of the reporting date (Dec. 31, 2022: €80.8 million).
Financing Liabilities Almost Unchanged
Noncurrent and current financing liabilities fell by €41.4 million to €1.51 billion as of the reporting date (Dec. 31, 2022: €1.55 billion). Financing liabilities of some €120 million falling due in 2024 were reclassified as current. Financing liabilities are mostly denominated in euros. Fixed interest is payable on the majority of the financing liabilities.
As of December 31, 2023, lease liabilities totaled €242.1 million (December 31, 2022: €261.1 million).
For further information on our financing liabilities, please refer to Note 15 in the Notes to the Consolidated Financial Statements. For further information on financial management and its goals, please refer to Note 20 in the Notes to the Consolidated Financial Statements.
