Compared with December 31, 2012, the balance sheet total increased from €83.4 billion to €85.3 billion.
Non-current assets increased by €2.0 billion to €44.7 billion during 2013, due to the higher level of financial assets, property, plant and equipment as well as increased intangible assets. Investments in property plant and equipment (approximately €2.8 billion excluding leased assets) mainly constituted investments for the production of the new C- and S-Class, the compact class and investments in engine and transmission projects.
Inventories of €6.7 billion were close to the prior-year level (2012: €6.6 billion).
Receivables, securities and other assets increased compared with December 31, 2012 by €2.1 billion to €28.9 billion. The main cause of the development was the increase of €2.1 billion in securities. Cash and cash equivalents decreased by €2.4 billion to €4.7 billion.
Gross liquidity – defined as cash and cash equivalents and other marketable securities – of €9.3 billion was slightly lower than a year earlier (2012: €9.6 billion).
Cash provided by operating activities amounted to €6.0 billion in 2013 (2012: €5.4 billion). Lower net profit than in the previous year was more than offset by lower tax payments and higher trade payables. The development of trade payables is connected with the expansion of business and partially reflects invoicing factors.
Cash flows from investing activities resulted in a net cash outflow of €7.1 billion in 2013 (2012: €5.5 billion). This was primarily the result of investments in financial assets and property, plant and equipment as well as the acquisition of securities.
|Condensed statement of income of Daimler AG|
|In millions of euros|
|Cost of sales (including R&D expenses)||-67,579||-64,600|
|General administrative expenses||-2,594||-2,600|
|Other operating income, net||1,497||1,755|
|Profit from ordinary activities||3,510||5,109|
|Income tax benefit||203||366|
|Transfer to retained earnings||-1,306||-2,737|
Cash flows from financing activities resulted in a net cash outflow of €1.3 billion (2012: net cash inflow of €2.4 billion). The payment of the dividend for the year 2012 accounts for a cash outflow of €2.3 billion. On the other hand, mainly an increase in financing liabilities led to a cash inflow.
Equity increased compared with December 31, 2012 by €1.4 billion to €35.7 billion. This change primarily resulted from the net profit for 2013, of which, pursuant to Section 58 Subsection 2 of the German Stock Corporation Act (AktG), €1.3 billion was transferred to retained earnings. The equity ratio at December 31, 2013 was 41.9% (December 31, 2012: 41.1%).
Provisions increased compared with December 31, 2012 by €0.3 billion to €12.6 billion. This was mainly caused by the increase in provisions for pensions and similar obligations.
Liabilities increased by €0.1 billion to €36.5 billion. This change was mainly caused by financing liabilities (plus €4.7 billion). There was an opposing effect primarily from the decrease in liabilities to subsidiaries (minus €4.7 billion).
|Balance sheet structure of Daimler AG|
|Dec, 31, 2013||Dec, 31, 2012|
|In millions of euros|
|Receivables, securities and other assets||28,869||26,736|
|Cash and cash equivalents||4,718||7,089|
|Equity and liabilities|
|(conditional capital €590 million)|
|Provisions for pensions and similar obligations||3,405||3,097|