Parent company financial statements

Balance sheet at 31 December of Koninklijke DSM N.V. before profit appropriation

x € million

Notes

2019

2018

Assets

 
 
 

Non-current assets

 
 
 

Intangible assets

2

428

431

Property, plant and equipment

3

12

13

Financial assets

4

10,747

10,480

Deferred tax assets

5

71

82

Other deferred items

 

2

2

 
 

11,260

11,008

Current assets

 
 
 

Receivables

6

101

123

Cash and cash equivalents

 

1

-

 
 

102

123

 
 
 
 

Total

 

11,362

11,131

 
 
 
 

Shareholders' equity and liabilities

 
 
 

Shareholders' equity

7

 
 

Share capital

 

338

338

Share premium

 

489

489

Treasury shares

 

(905)

(371)

Other reserves

 

96

(55)

Retained earnings

 

6,955

6,304

Profit for the year

 

758

1,077

 
 

7,731

7,782

Non-current liabilities

 
 
 

Borrowings

8

2,244

2,243

Other non-current liabilities

 

8

8

 
 

2,252

2,251

Current liabilities

 
 
 

Borrowings

8

-

300

Financial derivatives

 

1

5

Other current liabilities

9

1,378

793

 
 

1,379

1,098

 
 
 
 

Total

 

11,362

11,131

Income statement of Koninklijke DSM N.V.

x € million

Notes

2019

2018

 
 
 
 

Other income

1

184

167

 
 
 
 

Cost of outsourced work and other external costs

 

(88)

(88)

Wages and salaries

11

(70)

(65)

Social security and pension charges

 

(8)

(7)

Amortization of intangible assets and depreciation of Property, plant and equipment

 

(10)

(9)

 
 
 
 

Total operating expenses

 

(176)

(169)

 
 
 
 

Operating profit

 

8

(2)

 
 
 
 

Financial expense

12

(79)

(76)

 
 
 
 

Result before income tax

 

(71)

(78)

Income tax

5

23

14

Share of the profit of subsidiaries

4

800

1,054

 
 
 
 

Result after income tax

 

752

990

 
 
 
 

Share of the profit of associates and joint ventures

4

-

11

Other results related to associates and joint ventures

4

6

76

 
 
 
 

Net profit attributable to equity holders of Koninklijke DSM N.V.

 

758

1,077

Notes to the parent company financial statements

1 Summary of the accounting policies

Unless stated otherwise, all amounts are in € million.

The Parent company financial statements are the financial statements of Koninklijke DSM N.V., which have been prepared in accordance with accounting principles generally accepted in the Netherlands.

The accounting policies used are the same as those used in the consolidated financial statements, in accordance with the provisions of article 362-8 of Book 2 of the Dutch Civil Code. In these separate financial statements, investments in subsidiaries are accounted for using the net asset value. The balance sheet presentation is aligned with the consolidated financial statements in order to enhance transparency and facilitate understanding.

The statutory seat of Koninklijke DSM N.V. is Het Overloon 1, Heerlen (Netherlands). A list of DSM participations has been filed with the Chamber of Commerce (Netherlands) and is available from the company upon request, as well as on the company website. DSM is registered in the Dutch Commercial Register under number 14022069.

Information on the use of financial instruments and on related risks for the group is provided in the 'Notes to the consolidated financial statements of Royal DSM'.

Other income consists mainly of the charged corporate overhead and services to the group companies.

The company forms a fiscal unity for corporate income tax purposes together with the group companies in the Netherlands. Each of the companies recognizes the portion of corporate income tax that the relevant company would owe as an independent tax payer, taking into account the tax liabilities applicable to the company.