Balance sheet (IFRS)

BALANCE SHEET (IFRS)
 
EUR million Note 31 Dec 2015 31 Dec 2014
 
ASSETS
 
Non-current assets
Goodwill 11, 14, 15 384.9 323.7
Other intangible assets     11 41.0 32.8
Property, plant and equipment     12 83.0 82.2
Investments accounted for using the equity method     16 17.2 19.3
Deferred tax assets     17 31.6 27.9
Finance lease receivables     24 4.6 5.4
Other interest-bearing receivables       0.1 0.9
Available-for-sale financial assets     13 0.7 0.7
Total non-current assets       563.1 492.9
Current assets          
Trade and other receivables     18 353.9 371.2
Pension benefit assets     22 6.6 -
Finance lease receivables     24 3.5 4.7
Other interest-bearing receivables       0.4 0.3
Current income tax receivables       2.6 1.8
Cash and cash equivalents     19 156.2 160.6
Total current assets       523.2 538.6
           
Total assets       1 086.3 1 031.5
           
EQUITY AND LIABILITIES
           
Equity          
Share capital     20 76.6 76.6
Share issue premiums and other reserves     20 44.6 43.9
Share issue based on stock options     20 0.0 0.5
Retained earnings       361.6 350.1
Parent shareholders' equity       482.8 471.1
Non-controlling interest       0.1 0.1
Total equity       482.9 471.2
Non-current liabilities          
Loans   24, 25 105.0 100.8
Deferred tax liabilities     17 28.7 22.9
Provisions     23 6.1 15.2
Pension obligations     22 16.7 24.0
Other non-current liabilities       1.5 2.1
Total non-current liabilities       158.0 165.0
Current liabilities          
Trade and other payables     26 334.6 339.9
Current income tax liabilities       14.9 12.3
Provisions     23 22.9 31.3
Loans   24, 25 73.0 11.8
Total current liabilities       445.4 395.3
           
Total equity and liabilities       1 086.3 1 031.5
 
Notes are an integral part of these consolidated financial statements.

Comments to the balance sheet

Assets

The consolidated balance sheet totalled EUR 1 086.3 (1 031.5) million, an increase of 5.3%. Goodwill increased to EUR 384.9 (323.7) million. Acquisitions added EUR 63.5 million to goodwill. Direct capital expenditure on fixed assets including new finance lease agreements amounted to EUR 50.5 (42.5) million.

Distribution of total assets    
     
31 Dec, % 2015 2014
Goodwill 35.4 31.4
Other intangible assets 3.8 3.2
Tangible assets 7.6 8.0
Other assets 38.8 41.8
Cash and cash equivalents 14.4 15.6
Total 100.0 100.0

Equity and liabilities

The total equity amounted to EUR 482.9 (471.2) million. The net profit for the year increased equity by EUR 90.5 million and dividend payment decreased equity by EUR 95.2 million.

The equity ratio was 46.2% (47.8). Gearing increased to 2.7% (-12.6). Interest-bearing net debt totalled EUR 13.2 (-59.2) million, including EUR 171.3 million in interest-bearing debt, EUR 6.7 million in finance lease liabilities, EUR 8.1 million in finance lease receivables, EUR 0.5 million in other interest-bearing receivables and EUR 156.2 million in cash and cash equivalents.

Distribution of total equity and liabilities    
     
31 Dec, % 2015 2014
Share capital 7.0 7.4
Other parent shareholders' equity 37.4 38.3
Interest-bearing liabilities 16.4 10.9
Non-interest-bearing debt 39.2 43.4
Total 100.0 100.0