Asset position

In the short financial year 2013, total assets decreased by €5,991 million to €28,811 million. In the short financial year 2013, non-current assets declined by €677 million to €16,646 million.

Non-current assets

Property, plant and equipment amount to €10,709 million (30/9/2012: €12,202 million; 31/12/2012: €11,324 million). The decline in property, plant and equipment is largely attributable to negative currency effects in Russia, Turkey and Japan. In addition, investments fell short of scheduled depreciation and impairment losses in the reporting period. As of 30 September 2013, deferred tax assets amounted to €837 million (30/9/2012: €1,077 million; 31/12/2012: €914 million). The decline compared with 31 December 2012 resulted primarily from ongoing carry-forwards of temporary differences in the short financial year 2013.

Additional information on the development of non-current assets can be found in the notes to the consolidated financial statements in the numbers listed in the table.

Current assets

Current assets fell by €5,314 million to €12,165 million. As of 30 September 2013, METRO GROUP had inventories totalling €5,856 million (30/9/2012: €6,599 million; 31/12/2012: €6,826 million). The decline of €970 million in the short financial year 2013 is largely due to strong inventory reduction, at Media-Saturn. The main reason for this was the season-related high level of inventories as of 31 December 2012, which was markedly reduced in the subsequent quarter. Compared with 30 September 2012, inventories fell by €743 million. Key factors for this were the inventory-optimising measures taken by the sales lines Media-Saturn and METRO Cash & Carry as well as the divestment of Real’s Eastern European business. The decline in income tax refund claims by €50 million to €297 million in comparison with 31 December 2012 is mainly the result of realised withholding tax credits. As of 30 September 2013, cash and cash equivalents amounted to €2,564 million (30/9/2012: €2,075 million; 31/12/2012: €5,299 million). The decline compared with 31 December 2012 is mostly attributable to the high liquidity at the end of the calendar year resulting from the Christmas business. The increase compared with 30 September 2012 is primarily the result of the divestment of Real’s Eastern European business, real estate transactions and lower investment volume. Due mostly to the disposal of Real’s Russian, Ukrainian and Romanian businesses, “assets held for sale” declined by €1,239 million to €292 million.

Additional information on the development of current assets can be found in the notes to the consolidated financial statements in the numbers listed in the table.