| Notes | 2005 € m |
2004 € m |
|
|---|---|---|---|
| Long-term assets | |||
| Property, plant and equipment | 10 | 681 | 684 |
| Intangible assets | 11 | 52 | 59 |
| Deferred tax assets | 12 | 188 | 187 |
| Investment in associated undertaking | 13 | 2 746 | 2 454 |
| Other long-term assets | 14 | 189 | 194 |
| 3 856 | 3 578 | ||
| Net current assets | |||
| Inventories | 15 | 1 522 | 1 402 |
| Debtors | 16 | 817 | 1 835 |
| Cash | 1 409 | 186 | |
| Current assets | 3 748 | 3 423 | |
| Bank overdrafts and short-term loans | (633) | (557) | |
| Borrowings | 22 | (4) | (359) |
| Accruals and deferred income | (173) | (170) | |
| Current tax liabilities | (120) | (97) | |
| Provisions | 23 | (63) | (79) |
| Other current liabilities | 17 | (355) | (532) |
| 2 400 | 1 629 | ||
| 6 256 | 5 207 | ||
| Equity | |||
| Share capital | 18 | 334 | 334 |
| Participation reserve | 19 | 645 | 645 |
| Unitholders' capital | 20 | 979 | 979 |
| Treasury units | 21 | (560) | (590) |
| Retained earnings and other reserves | 21 | 5 533 | 4 579 |
| Unitholders' funds | 5 952 | 4 968 | |
| Minority interests | 6 | 4 | |
| 5 958 | 4 972 | ||
| Long-term liabilities | |||
| Borrowings | 22 | 155 | 64 |
| Provisions | 23 | 34 | 46 |
| Post-retirement and other benefit obligations | 24 | 75 | 89 |
| Deferred tax liabilities | 12 | 34 | 36 |
| 298 | 235 | ||
| 6 256 | 5 207 |
The consolidated financial statements were approved by the Board of Directors on 8 June 2005.
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