17.Inventories
Inventories were comprised as follows:
|
|
|
|
|
||||
|
|
Dec. 31, 2020 |
|
Dec. 31, 2021 |
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|---|---|---|---|---|---|---|---|---|
|
|
€ million |
|
€ million |
||||
Raw materials and supplies |
|
537 |
|
830 |
||||
Work in process, finished goods and goods purchased for resale1 |
|
1,123 |
|
2,081 |
||||
Advance payments |
|
3 |
|
3 |
||||
Total |
|
1,663 |
|
2,914 |
||||
|
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The significant increase in inventories was mainly attributable to external market conditions in fiscal 2021, in particular higher procurement and energy prices, as well as build-up in order to ensure supply reliability in fiscal 2022.
In fiscal 2021, impairment losses on inventories of €22 million (previous year: €24 million) and reversals of impairment losses of €5 million (previous year: €6 million) were recognized through profit or loss in cost of goods sold.