Balance sheet
Balance sheet for FY 2008
The financial statements for Fiscal 2008 were prepared in accordance with International Financial Reporting Standards (IFRS).
Assets
IFRS standards, August 31st | 2008 | 2007 |
(in millions of euros) | ||
Non-current assets | ||
Property, plant and equipment | 465 | 440 |
Goodwill | 3,793 | 3,515 |
Other intangible assets | 288 | 122 |
Client investments | 162 | 149 |
Associates | 40 | 37 |
Financial assests | 100 | 88 |
Other non-current assets | 13 | 13 |
Deferred tax assets | 86 | 136 |
TOTLA NON-CURRENT ASSETS | 4,947 | 4,500 |
Current assets | ||
Financial assets | 8 | 11 |
Derivative financial instruments | 7 | 0 |
Inventories | 202 | 185 |
Income tax | 54 | 48 |
Trade receivable | 2,615 | 2,089 |
Restricted cash and financial assets related to the Service Vouchers and Cards activity | 483 | 454 |
Cash and cash equivalents | 1,594 | 1,410 |
TOTAL CURRENT ASSETS | 4,963 | 4,197 |
TOTAL ASSETS | 9,910 | 8,697 |
Liabilities and equity
IFRS standards, August 31st | 2008 | 2007 |
(in millions of euros) | ||
Shareholders' equitity | ||
Capital | 629 | 636 |
Share premium | 1 122 | 1 186 |
Undistributed net income | 652 | 633 |
Cosolidated reserves | (258) | (178) |
Total group shareholders' equity | 2 145 | 2 277 |
Minority interests | 26 | 23 |
TOTAL SHAREHOLDERS' EQUITY | 2 171 | 2 300 |
Non-current liabilities | ||
Borrowings | 1,163 | 1,839 |
Employee benefits | 192 | 232 |
Other liabilities | 85 | 79 |
Provisions | 53 | 53 |
Deferred tax liabilities | 45 | 35 |
TOTAL NON-CURRENT LIABILITIES | 1,538 | 2,238 |
Current liabilities | ||
Bank overdraft | 31 | 33 |
Borrowings | 1 353 | 111 |
Derivative financial instruments | 2 | 1 |
Income tax | 61 | 57 |
Provisions | 36 | 49 |
Trade and other payable | 2,631 | 2,618 |
Vouchers payable | 2,087 | 1,290 |
TOTAL CURRENT LIABILITIES | 6,201 | 4,159 |
TOTAL EQUITY AND LIABILITIES | 9,910 | 8,697 |
Net debt* represents 21% of shareholders' equity.
* Debt net of cash and fifi nancial assets related to the Service Vouchers and Cards activity minus overdrafts.
