Asset position

In financial year 2014/15, total assets decreased by €500 million to €27.7 billion (30/9/2014: €28.2 billion).

In financial year 2014/15, non-current assets declined by €2.4 billion to €13.2 billion, primarily due to a reduction in property, plant and equipment of €2 billion to €8.0 billion (30/9/2014: €10.0 billion). This was caused by negative currency effects – particularly in Russia – and the disposal of property, plant and equipment in connection with the sale of the Galeria Kaufhof group. Additional factors included impairment losses on goodwill at Real Germany in the amount of €446 million and the disposal of goodwill of the Galeria Kaufhof group in the amount of €71 million. In contrast, the acquisition of Klassisk Investment Limited including all subsidiaries of the Classic Fine Foods group for €143 million was the key driver behind an increase in goodwill (30/9/2015: €3.3 billion; 30/9/2014: €3.7 billion). The increase in other intangible assets was primarily due to the acquisition of the Classic Fine Foods group, with the acquired customer base accounting for €62 million and the Classic Fine Foods brand accounting for €48 million. Investments accounted for using the equity method primarily increased by the 40 per cent share of METRO PROPERTIES in the joint venture with Carlton Investment, Berlin, (10 Real hypermarkets) in the amount of €83 million.

Current assets rose by €1.8 billion to €14.4 billion. This increase is due largely to the €2.0 billion increase in cash and cash equivalents (30/9/2015: €4.4 billion; 30/9/2014: €2.4 billion) that was primarily due to the sale of the Galeria Kaufhof group. Other financial and non-financial assets also increased by €454 million to €3.4 billion (30/9/2014: €3.0 billion). This was due largely to the recognition of a €415 million investment in an exchange-listed, highly liquid money market fund in the item short-term securities. The decline in inventories is also due to the sale of the Galeria Kaufhof group.