In € million

 

 

 

2018

 

2017

   

December 31

 

September 30

 

June 30

 

March 31

 

December 31

Inventories

 

a

 

1,685

 

1,744

 

1,624

 

1,549

 

1,504

Trade receivables

 

b

 

1,434

 

1,565

 

1,541

 

1,608

 

1,462

Other current receivables

 

c

 

719

 

1,123

 

820

 

730

 

627

Trade payables

 

d

 

(1,439)

 

(1,312)

 

(1,289)

 

(1,358)

 

(1,330)

Other current liabilities

 

e

 

(850)

 

(1,140)

 

(889)

 

(953)

 

(848)

Net working capital

 

f = a+b+c+d+e

 

1,550

 

1,980

 

1,808

 

1,576

 

1,414

Sales

 

g

 

2,830

 

2,840

 

2,820

 

2,809

 

2,717

Annualized quarterly total sales

 

h = 4*g

 

11,321

 

11,359

 

11,281

 

11,235

 

10,869

Net working capital / sales

 

i = f / h

 

13,7%

 

17.4%

 

16.0%

 

14.0%

 

13.0%

Year average

 

j = µ(Q1,Q2,Q3,Q4)

 

15.3%

 

13.8%

Net working capital over sales rose slightly to 13.7% versus 13.0% at the end of 2017.