Balance sheet analysis
Compared to the previous year, the HHLA Group’s balance sheet total decreased by a total of € 31.0 million to € 2,770.9 million as of 31 December 2022.
in € million |
|
31.12.2022 |
|
31.12.2021 |
|---|---|---|---|---|
Assets |
|
|
|
|
Non-current assets |
|
2,278.4 |
|
2,294.0 |
Current assets |
|
492.5 |
|
507.9 |
|
|
2,770.9 |
|
2,801.9 |
Equity and liabilities |
|
|
|
|
Equity |
|
873.3 |
|
705.2 |
Non-current liabilities |
|
1,571.9 |
|
1,730.2 |
Current liabilities |
|
325.7 |
|
366.5 |
|
|
2,770.9 |
|
2,801.9 |
On the assets side of the balance sheet, non-current assets decreased by € 15.6 million to € 2,278.4 million (previous year: € 2,294.0 million). The change is mainly attributable to the decrease in deferred tax assets of € 53.8 million to € 74.1 million (previous year: € 127.9 million) associated with the interest rate-related change in actuarial gains. By contrast, there were increases in property, plant and equipment and investment property – due to the first-time consolidation of the new companies and from capital expenditure (less depreciation and amortisation) – as well as in non-current financial assets.
Current assets decreased by € 15.4 million to € 492.5 million (previous year: € 507.9 million). The decline resulted mainly from a reduction in cash, cash equivalents and short-term deposits of € 39.1 million to € 116.4 million (previous year: € 155.5 million). An increase in trade receivables of € 17.9 million to € 206.1 million had an opposing effect (previous year: € 188.3 million).
Equity
in € million
On the liabilities side, equity rose by € 168.1 million compared to year-end 2021, to € 873.3 million (previous year: € 705.2 million). The increase was mainly due to the positive result for the reporting period of € 133.1 million and the interest rate-related change in actuarial gains, including tax effects outside profit or loss. The distribution of dividends had an opposing effect. The equity ratio increased to 31.5 % (previous year: 25.2 %).
Non-current liabilities decreased by € 158.3 million to € 1,571.9 million (previous year: € 1,730.2 million). The decline resulted primarily from the interest rate-related change in pension provisions amounting to € 152.6 million. Non-current liabilities to related parties also decreased by € 11.4 million. There was an opposing effect from the increase in non-current financial liabilities of € 9.6 million.
The decrease of € 40.7 million in current liabilities to € 325.7 million (previous year: € 366.5 million) resulted mainly from the decline of € 28.0 million in current financial liabilities to € 81.4 million (previous year: € 109.4 million), of € 11.7 million in income tax liabilities to € 1.8 million (previous year: € 13.5 million ), and of € 8.3 million in current liabilities to related parties to € 50.0 million (previous year: € 58.3 million).