In 2014, the Group’s assets fell to PLN 9,948,332 thousand, down by PLN 2,441 thousand on the end of 2013. As at December 31st 2014, non-current assets were PLN 6,781,085 thousand, and current assets were PLN 3,167,247 thousand.
Year on year, the most significant movements in assets in 2014 included:
- a 15,6% increase in inventory,
- a 79.2% decrease in current tax assets,
- a 48.4% decrease in investments available for sale,
- an 35.9% decrease in other financial assets,
- a 21.7% decrease in cash.
Structure of assets
| 2014 | 2013 * restated | change | % change | |
|---|---|---|---|---|
| Non-current assets, including: | 6,781,085 | 6,629,942 | 151,143 | 2.3 |
| Property, plant and equipment | 5,966,287 | 5,780,924 | 185,363 | 3.2 |
| Intangible assets | 510,415 | 519,631 | (9,216) | (1.8) |
| Investment property | 54,968 | 53,374 | 1,594 | 3.0 |
| Investments in subordinated entities | 110,842 | 128,944 | (18,102) | (14.0) |
| Available-for-sale financial assets | 12,371 | 23,989 | (11,618) | (48.4) |
| Current assets, including: | 3,167,247 | 3,320,831 | (153,584) | (4.6) |
| Inventory | 1,347,826 | 1,165,507 | 182,319 | 15.6 |
| Current tax assets | 6,720 | 40,558 | (33,338) | (83.4) |
| Trade and other receivables | 1,161,389 | 1,273,112 | (111,723) | (8.8) |
| Cash and cash equivalents | 558,603 | 713,024 | (154,421) | (21.7) |
| Other financial assets | 68,484 | 106,822 | (38,338) | (35.9) |
| Total assets | 9,948,332 | 9,950,773 | (2,441) | (0.0) |
Source: Company data.
Year on year, the most significant changes in equity and liabilities in the period under review included:
- a 3.5% increase in equity,
- a 22.7% increase in non-current employee benefit obligations,
- an 8.5% increase in trade and other payables,
- a 24.9% and 15.7% decrease in non-current and current liabilities under borrowings, respectively,
Structure of equity and liabilities
| Item | 2014 | 2013 * restated | change | % change |
|---|---|---|---|---|
| Equity | 6,488,136 | 6,270,554 | 217,582 | 3.5 |
| Non-current liabilities, including: | 1,195,845 | 1,401,957 | (206,112) | (14.7) |
| Borrowings | 476,932 | 634,693 | (157,761) | (24.9) |
| Employee benefit obligations | 312,419 | 254,613 | 57,806 | 22.7 |
| Other provisions | 113,106 | 119,343 | (6,237) | (5.2) |
| Current liabilities, including: | 2,264,351 | 2,278,262 | (13,911) | (0.6) |
| Trade and other payables | 1,425,553 | 1,313,547 | 112,006 | 8.5 |
| Borrowings | 509,259 | 604,140 | (94,881) | (15.7) |
| Other provisions | 211,432 | 213,839 | (2,407) | (1.1) |
| Total liabilities | 3,460,196 | 3,680,219 | (220,023) | (6.0) |
| Total equity and liabilities | 9,948,332 | 9,950,773 | (2,441) | (0.0) |
Source: Company data.