The Group’s balance sheet total rose by 2% to €13.8bn versus the end of the short financial year 2009. The changes in the consolidated statement of financial position against 30 September 2009 primarily reflected the seasonality in tourism.
Assets and liabilities
€ million | 31.3.2010 | 30.9.2009 restated | Var. % |
| Non-current assets | 9,718.1 | 9,099.3 | + 6.8 |
| Current assets | 4,063.4 | 4,426.2 | - 8.2 |
| Assets | 13,781.5 | 13,525.5 | + 1.9 |
| Equity | 2,253.6 | 2,363.3 | - 4.6 |
| Provisions | 2,152.4 | 2,220.3 | - 3.1 |
| Financial liabilities | 4,550.6 | 3,714.8 | + 22.5 |
| Other liabilites | 4,824.9 | 5,227.1 | - 7.7 |
| Liabilities | 13,781.5 | 13,525.5 | + 1.9 |
Assets and liabilities
€ million | 31.3.2010 | 30.9.2009 restated | Var. % |
| Non-current assets | 9,718.1 | 9,099.3 | + 6.8 |
| Current assets | 4,063.4 | 4,426.2 | - 8.2 |
| Assets | 13,781.5 | 13,525.5 | + 1.9 |
| Equity | 2,253.6 | 2,363.3 | - 4.6 |
| Provisions | 2,152.4 | 2,220.3 | - 3.1 |
| Financial liabilities | 4,550.6 | 3,714.8 | + 22.5 |
| Other liabilites | 4,824.9 | 5,227.1 | - 7.7 |
| Liabilities | 13,781.5 | 13,525.5 | + 1.9 |
Non-current assets
As at 31 March 2010, non-current assets accounted for 71% of total assets, compared with 67% as at 30 September 2009. Non-current assets rose from €9.1bn to €9.7bn in the period under review.
Current assets
As at 31 March 2010, current assets accounted for 30% of total assets, following 33% as at 30 September 2009. Current assets decreased from €4.4bn as at 30 September 2009 to €4.1bn as at 31 March 2010. The decline was mainly driven by the seasonality of the tourism business.
Equity
Equity totalled €2.3bn as at 31 March 2010. At 16%, the equity rate decreased against its level on 30 September 2009. Detailed information on the changes in equity is provided in the notes to this Half-Year Financial Report.
Provisions
Provisions mainly comprised provisions for pension obligations, effective and deferred tax provisions and provisions for typical operating risks. As at 31 March 2010, they totalled €2.2bn, in line with their level as at the balance sheet date 30 September 2009.
Financial liabilities
As at 31 March 2010, financial liabilities consisted of non-current financial liabilities of €3.3bn and current financial liabilities of €1.2bn. As at 30 September 2009, non-current financial liabilities stood at €3.2bn, with current financial liabilities of €0.5bn. The changes resulted, inter alia, from the reclassification of the bonds maturing in December 2010 from non-current to current financial liabilities, recognition of the convertible bonds issued by TUI Travel respectively TUI AG in October/November 2009 and recognition of funds newly procured by TUI Travel in the second quarter of 2009/10 as non-current financial liabilities.
Other liabilities
As at 31 March 2010, other liabilities amounted to €4.8bn, down 8% against 30 September 2009. The decline was primarily attributable to the seasonality in tourism.