Porsche 2015 Annual Report Download - page 127

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Net Assets
As of December 31, 2015, the total assets of the Porsche AG Group stood
at29,143 million euro, 12 percent higher than on the prior-year reporting
date.
Non-current assets increased by 1,767 million euro to 21,548 million euro.
The increase relates mainly to fixed assets and to deferred taxes. Non-
current assets expressed as a percentage of total assets amounted to
74percent (prior year: 76 percent).
At the end of the reporting period, the fixed
assets of the Porsche AG Group – i.e., the
intangible assets, property, plant and equip-
ment, leased assets, equity-accounted
investments and other equity investments –
came to 11,009 million euro, compared with
9,691 million euro in the previous year.
Fixed assets expressed as a percentage of total
assets increased to 38 percent (prior year:
37percent). Intangible assets increased from
2,953 million euro to 3,286 million euro. The
increase mainly relates to capitalised develop-
ment costs. The largest additions relate to the
Panamera and Cayenne model series. Property,
plant and equipment increased in comparison to
the prior year by 493 million euro to 4,580 million
euro, primarily due to additions to other equip-
ment, furniture and fixtures, as well as advance
payments made and assets under construction.
These additions consist mainly of tools and
construction work for the new generations of
vehicles. Leased assets increased by 467 million
euro to 2,761 million euro in comparison to the
prior year. This item contains vehicles leased to
customers under operating leases.
Non-current other financial assets increased
by137 million euro, primarily as a result
of currency effects relating to the derivative
financial instruments.
Financial
Analysis
Net Assets,
Financial Positions
and Results
of Operations
2011 2012 20152013 2014
10,928
13,865 14,326
17,205
21,533
Sales Revenue
in million euro
123