Trends: Assets
€ million |
|
2024 |
|
2023 |
|---|---|---|---|---|
|
|
|
|
|
Intangible assets, property, plant and equipment, investment property and right-of-use assets |
|
3,916.4 |
|
3,555.9 |
Investments in joint ventures and associates accounted for using the equity method |
|
976.2 |
|
949.8 |
Other noncurrent assets |
|
462.0 |
|
447.0 |
Noncurrent assets |
|
5,354.6 |
|
4,952.7 |
Inventories |
|
1,795.5 |
|
1,449.2 |
Trade receivables |
|
764.6 |
|
788.6 |
Other current assets |
|
1,495.2 |
|
1,663.9 |
Current assets |
|
4,055.3 |
|
3,901.7 |
Total assets |
|
9,409.9 |
|
8,854.4 |
Increase in fixed assets due to investment spending and additions resulting from right-of-use assets
Relative to the previous year, fixed assets (including equity-accounted investments) increased by €386.9 million to €4.89 billion (Dec. 31, 2023: €4.51 billion). Property, plant and equipment rose to €3.32 billion (Dec. 31, 2023: €3.04 billion). Capital expenditures fell in 2024 to €666.0 million (2023: €709.6 million). Over half of the funds were invested in Germany. Right-of-use assets from leases amounted to €273.2 million as of the reporting date (Dec. 31, 2023: €222.5 million), largely due to the opening of the new headquarters in Munich. Financing liabilities from leases amounted to €330.7 million as of the reporting date (Dec. 31, 2023: €242.1 million). Depreciation/amortization amounted to €472.7 million.
As of December 31, 2024, €883.0 million was recognized in the statement of financial position for the equity-accounted investment in Siltronic AG (Dec. 31, 2023: €857.4 million). That figure included the profit of €12.7 million generated by the investment.
Noncurrent assets
Other noncurrent assets totaled €462.0 million as of December 31, 2024 (Dec. 31, 2023: €447.0 million), up by 3.4 percent year over year. WACKER opened its new mRNA Competence Center in Halle in the middle of the year, which resulted in an increase in property, plant and equipment. Right-of-use assets under lease agreements increased after WACKER moved into its new headquarters in Munich. Noncurrent securities were reclassified as current.
Working capital rose 26 percent
Current assets came to €4.06 billion (Dec. 31, 2023: €3.90 billion), up by 3.9 percent year over year. The increase was due mainly to higher working capital, which rose by 25.7 percent to €1.71 billion (Dec. 31, 2023: €1.36 billion).
Inventories were up by 23.9 percent to €1.80 billion (Dec. 31, 2023: €1.45 billion). This was due primarily to inventory effects resulting from the restrained demand for solar-grade polysilicon. The decrease of 3.0 percent in trade receivables to €764.6 million (Dec. 31, 2023: €788.6 million) was due to lower sales. Trade payables fell slightly as well.
€ million |
|
2024 |
|
2023 |
|
Change |
|---|---|---|---|---|---|---|
|
|
|
|
|
|
|
Trade receivables |
|
764.6 |
|
788.6 |
|
-3.0 |
Inventories |
|
1,795.5 |
|
1,449.2 |
|
23.9 |
Trade payables |
|
-851.5 |
|
-878.9 |
|
-3.1 |
Working capital |
|
1,708.6 |
|
1,358.9 |
|
25.7 |
Liquidity at a high level of €1.26 billion
Securities, fixed-term deposits, and cash and cash equivalents are major components of other current assets. Current securities and fixed-term deposits amounted to €167.6 million at the end of 2024 (Dec. 31, 2023: €347.4 million). Cash and cash equivalents came to €1.05 billion as of December 31, 2024 (Dec. 31, 2023: €1.01 billion). All in all, liquid assets (noncurrent and current securities, cash and cash equivalents) remained at a high level at €1.26 billion (Dec. 31, 2023: €1.42 billion). The dividend payment made by Wacker Chemie AG resulted in an outflow of liquid assets in the amount of €149.0 million (2023: €596.1 million). WACKER invested €651.6 million in expanding its capacities (2023: €639.6 million). These expenses were financed mainly using liquid assets.
