Audi 2007 Annual Report Download - page 164
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161
Net worth
Balance sheet structure
Cash and cash equivalentsCash and cash equivalents
Inventories
Inventories
Other current
assets
Other current
assets
Fixed assetsFixed assets
Other non-current
assets
Other non-current
assets
EquityEquity
Non-current
liabilities
Non-current
liabilities
Current
liabilities
Current
liabilities
2007200620052004 2004200520062007EUR million 2007200620052004 2004200520062007EUR million
22,578 16,112 14,904
6,104
4,202
5,806
5,828
4,291
4,785
16,112
8,143
454
2,042
2,368
3,105
8,430
540
1,832
2,343
1,759
14,904
7,536
749
2,109
3,632
4,884
18,910 22,578 18,910
7,265
4,610
7,035
7,379
946
2,661
4,852
6,740
8,355
5,269
8,954
The Audi Group’s balance sheet total grew by 19.4 percent over the past fiscal year to
EUR 22,578 (18,910) million.
Non-current assets remained on a par with the previous year at EUR 8,325 (8,285) million,
due in particular to higher property, plant and equipment and higher receivables from de-
rivative currency hedging instruments in conjunction with lower development expenditure
recognized as an intangible asset.
The 34.1 percent rise in current assets to EUR 14,253 (10,625) million was largely attribut-
able to increased cash and cash equivalents (up EUR 1,856 million) and trade receivables (up
EUR 309 million). In addition, inventories grew by EUR 552 million, primarily as a result of
initial consolidation of companies in fiscal 2007.
The overall volume of capital investments rose to EUR 2,115 (1,925) million, mostly as a
result of higher product investment. Property, plant and equipment accounted for EUR 1,527
(1,256) million of this total, representing a rise of 21.6 percent.
The equity of the Audi Group rose by 15.0 percent to EUR 8,355 (7,265) million. This
change was attributable principally to the cash infusion of EUR 428 million by Volkswagen to
the capital reserve of AUDI AG and allocation to other retained earnings of the balance re-
maining after the transfer of profit (EUR 242 million).
The equity ratio for the Audi Group was 37.0 (38.4) percent.