Balance sheet (IFRS)

BALANCE SHEET (IFRS)
 
EUR million Note 31 Dec 2016 31 Dec 2015
 
ASSETS
 
Non-current assets
Goodwill 14, 29, 30 409.7 384.9
Other intangible assets     14 52.3 41.0
Property, plant and equipment     15 94.0 83.0
Investments accounted for using the equity method     28 16.5 17.2
Deferred tax assets     13 29.9 31.6
Finance lease receivables     22 2.2 4.6
Other interest-bearing receivables       0.0 0.1
Available-for-sale financial assets     16 0.7 0.7
Total non-current assets       605.3 563.1
Current assets          
Trade and other receivables     17 390.3 353.9
Pension benefit assets     11 7.4 6.6
Finance lease receivables     22 3.5 3.5
Other interest-bearing receivables       0.3 0.4
Current income tax receivables       11.0 2.6
Cash and cash equivalents     18 56.7 156.2
Total current assets       469.2 523.2
           
Total assets       1 074.5 1 086.3
           
EQUITY AND LIABILITIES
           
Equity          
Share capital     19 76.6 76.6
Share issue premiums and other reserves     19 43.4 44.6
Share issue based on stock options     19 - 0.0
Retained earnings       368.1 361.6
Parent shareholders' equity       488.1 482.8
Non-controlling interest       - 0.1
Total equity       488.1 482.9
Non-current liabilities          
Loans   20, 22 103.8 105.0
Deferred tax liabilities     13 34.9 28.7
Provisions     21 5.4 6.1
Pension obligations     11 13.9 16.7
Other non-current liabilities       0.2 1.5
Total non-current liabilities       158.2 158.0
Current liabilities          
Trade and other payables     23 344.6 334.6
Current income tax liabilities       3.5 14.9
Provisions     21 11.5 22.9
Loans   20, 22 68.6 73.0
Total current liabilities       428.2 445.4
           
Total equity and liabilities       1 074.5 1 086.3
 
Notes are an integral part of these consolidated financial statements.

Comments to the balance sheet

Assets

The consolidated balance sheet totalled EUR 1 074.5 (1 086.3) million, a decrease of 1.1%. Goodwill increased to EUR 409.7 (384.9) million. Acquisitions added EUR 26.2 million to goodwill. Direct capital expenditure on fixed assets including new finance lease agreements amounted to EUR 61.6 (50.5) million.

Distribution of total assets    
     
31 Dec, % 2016 2015
Goodwill 38.1 35.4
Other intangible assets 4.9 3.8
Tangible assets 8.7 7.6
Other assets 43.0 38.8
Cash and cash equivalents 5.3 14.4
Total 100.0 100.0

Equity and liabilities

The total equity amounted to EUR 488.1 (482.9) million. The net profit for the year increased equity by EUR 107.2 million and dividend payment decreased equity by EUR 99.3 million.

The equity ratio was 47.3% (46.2). Gearing increased to 22.5% (2.7). Interest-bearing net debt totalled EUR 109.7 (13.2) million, including EUR 166.9 (171.3) million in interest-bearing debt,EUR 5.5 (6.7) million in finance lease liabilities, EUR 5.7 (8.1) million in finance lease receivables, EUR 0.3 (0.5) million in other interest-bearing receivables and EUR 56.7 (156.2) million in cash and cash equivalents.

Distribution of total equity and liabilities    
     
31 Dec, % 2016 2015
Share capital 7.1 7.1
Other parent shareholders' equity 38.3 37.4
Interest-bearing liabilities 16.0 16.4
Non-interest-bearing debt 38.6 39.1
Total 100.0 100.0