Compared to the previous year, the balance sheet total was up €63 million, or 5.4%, to €1,225 million (2005/2006: €1,162 million). Non-current assets remained at the same level as in the previous year, whereas the figure for current assets rose, especially with regard to receivables and other assets. Increases in current liabilities, particularly in terms of accruals and other liabilities, more than made up for a fall in non-current financial liabilities.

The reduction in intangible assets is primarily attributable to amortization of product know-how of €15 million (2005/2006: €20 million) and amortization of commercial patents and licenses of €9 million (2005/2006: €7 million). This was partly compensated for by investment in software, especially for outsourcing (Glossary)  projects, in the amount of €8 million (2005/2006: €6 million).

The carrying amount of property, plant and equipment is €115 million (2005/2006: €104 million) – an increase of €11 million on the preceding year. Investments in property, plant and equipment rose by €7 million to €47 million (2005/2006: €40 million). The principal investments made were in IT equipment, specialist tools as well as land, buildings and other equivalent rights. Depreciation in the year under review amounted to €33 million (2005/2006: €29 million).

The increase of €16 million to €51 million in non-current receivables and other assets (2005/2006: €35 million) was largely caused by the higher surplus of plan assets over pension obligations. The surplus stood at €13 million compared to €2 million in fiscal 2005/2006. This item also includes reworkable service parts, whose book value was €16 million – the same as the preceding year.

Inventories declined by €19 million to €294 million (2005/2006: €313 million). This was mainly due to the invoicing of customer orders at the end of the fiscal year, leading to a rise in current trade receivables to €317 million (2005/2006: €263 million). Other current assets remained almost unchanged from the previous year.

As a result of payments received and made at the end of the fiscal year, current bank deposits rose by €14 million to €24 million (2005/2006: €10 million), while current bank liabilities were up €20 million to €35 million.

Equity, including minority interest, increased by €3 million to €278 million (2005/2006: €275 million). The profit for the period of €109 million (2005/2006: €82 million) more than compensated for reductions caused by the repurchase of own shares to the value of €44 million, and dividends paid in the amount of €46 million. Further reductions in equity were due to the takeover of shares to the value of €8 million, and exchange rate effects of €6 million. Changes in equity are described in the table entitled Changes in Equity.

Non-current financial liabilities fell by €22 million to €170 million (2005/2006: €192 million), mainly as a result of the repayment, during the year under review, of liabilities totaling €20 million from the revolving facility. Under the terms of this revolving facility, Wincor Nixdorf Group was granted a credit line of €350 million for a period of seven years up to August 2, 2012. Borrowings were subject to interest based on the EURIBOR plus a margin. The entire credit line is still available without an obligation to make principal repayments until the end of maturity.

Other current accruals rose by €35 million to €175 million (2005/2006: €140 million). This was the result of an increase in potential losses of €9 million, personnel-related obligations of €7 million and warranty obligations of €6 million. From the present perspective, the recognized accruals sufficiently cover all of the Group’s probable obligations.

The increase of €35 million to €316 million in other current liabilities (2005/2006: €281 million) is primarily attributable to a rise in income tax liabilities.

The Group also has future non-balance sheet liabilities in relation to tenancies, leasing agreements, long-term purchase contracts and purchase commitments totaling €90 million (2005/2006: €82 million).