Annual Report 2023

Consolidated balance sheet

As at 31 December 2023 and 2022

(€ Million)

 

Notes

 

2023

 

2022

Assets

 

 

 

 

 

 

Tangible assets

 

8

 

5,253

 

4,340

Intangible assets

 

9

 

790

 

755

Investment property

 

 

 

9

 

9

Right-of-use assets

 

10

 

3,198

 

2,526

Biological assets

 

 

 

8

 

6

Investments in joint ventures and associates

 

11

 

80

 

16

Other financial investments

 

12

 

2

 

17

Trade debtors, accrued income and deferred costs

 

15

 

59

 

58

Deferred tax assets

 

7

 

230

 

201

Total non-current assets

 

 

 

9,629

 

7,928

Inventories

 

14

 

1,790

 

1,493

Biological assets

 

 

 

19

 

12

Income tax receivable

 

 

 

86

 

35

Trade debtors, accrued income and deferred costs

 

15

 

829

 

593

Derivative financial instruments

 

13

 

6

 

2

Cash and cash equivalents

 

16

 

1,938

 

1,781

Total current assets

 

 

 

4,668

 

3,917

Total assets

 

 

 

14,297

 

11,845

 

 

 

 

 

 

 

Shareholders’ equity and liabilities

 

 

 

 

 

 

Share capital

 

 

 

629

 

629

Share premium

 

 

 

22

 

22

Own shares

 

 

 

(6)

 

(6)

Other reserves

 

 

 

(110)

 

(183)

Retained earnings

 

17

 

2,278

 

1,869

 

 

 

 

2,814

 

2,331

Non-controlling interests

 

 

 

253

 

254

Total shareholders’ equity

 

 

 

3,066

 

2,585

Borrowings

 

19

 

280

 

238

Lease liabilities

 

10

 

2,853

 

2,248

Trade creditors, accrued costs and deferred income

 

21

 

4

 

4

Derivative financial instruments

 

13

 

6

 

5

Employee benefits

 

5

 

78

 

69

Provisions for risks and contingencies

 

20

 

79

 

82

Deferred tax liabilities

 

7

 

104

 

90

Total non-current liabilities

 

 

 

3,404

 

2,735

Borrowings

 

19

 

485

 

232

Lease liabilities

 

10

 

530

 

430

Trade creditors, accrued costs and deferred income

 

21

 

6,705

 

5,799

Derivative financial instruments

 

13

 

13

 

9

Income tax payable

 

 

 

94

 

55

Total current liabilities

 

 

 

7,827

 

6,525

Total shareholders’ equity and liabilities

 

 

 

14,297

 

11,845

To be read with the attached notes to the consolidated financial statements.

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