(Condensed)
Balance Sheet as of December 31, 2025
|
Assets in thousands of euros |
consolidated financial statements of STIHL Holding AG & Co. KG | Andreas Stihl AG & Co. KG | ||||
|---|---|---|---|---|---|---|
| Notes to the Balance Sheet | DEC. 31, 2025 | DEC. 31, 2024 | DEC. 31, 2025 | DEC. 31, 2024 | ||
| Fixed assets: | ||||||
| Intangible assets | 165,702 | 176,116 | 137,536 | 135,584 | ||
| Property, plant and equipment | 1,964,965 | 1,978,907 | 674,769 | 618,635 | ||
| Financial assets (1) | 2,301,036 | 2,483,553 | 260,387 | 247,488 | ||
| 4,431,703 | 4,638,576 | 1,072,692 | 1,001,707 | |||
| Current assets | ||||||
| Inventories | 1,995,310 | 2,043,222 | 368,389 | 392,442 | ||
| Receivables and other assets | ||||||
| Trade account receivables | 638,306 | 690,596 | 44,155 | 37,472 | ||
| Receivables from affiliated companies | 5,759 | 5,876 | 273,640 | 326,103 | ||
| Receivables from shareholders | 0 | 0 | 27,587 | 40,499 | ||
| Other assets | 196,234 | 216,244 | 48,666 | 41,585 | ||
| 840,299 | 912,716 | 394,048 | 445,659 | |||
| Securities (2) | 913,335 | 349,565 | 86,191 | 68,815 | ||
| Cash and bank balances | 570,467 | 572,480 | 3,630 | 3,428 | ||
| 4,319,411 | 3,877,983 | 852,258 | 910,344 | |||
| Prepaid expenses | 44,745 | 44,848 | 18,936 | 14,632 | ||
| Deferred tax assets | 249,997 | 261,330 | 119,102 | 119,500 | ||
| Asset surplus from pension obligations | 6,908 | 0 | 6,908 | 0 | ||
| Total | 9,052,764 | 8,822,737 | 2,069,896 | 2,046,183 | ||
|
Equity and liabilities in thousands of Euros |
consolidated financial statements of STIHL Holding AG & Co. KG | Andreas Stihl AG & Co. KG | ||||
|---|---|---|---|---|---|---|
| Notes to the Balance Sheet | DEC. 31, 2025 | DEC. 31, 2024 | DEC. 31, 2025 | DEC. 31, 2024 | ||
| Equity (3) | 6,443,988 | 6,084,869 | 763,765 | 763,765 | ||
| Provisions (4) | ||||||
| Provisions for pensions and similar obligations | 819,764 | 864,482 | 696,273 | 698,281 | ||
| Provisions for taxes | 32,041 | 38,851 | 4,055 | 8,002 | ||
| Other Provisions | 459,230 | 461,709 | 144,674 | 165,929 | ||
| 1,311,035 | 1,365,042 | 845,002 | 872,212 | |||
| Liabilities | ||||||
| Liabilities to banks | 38,115 | 4,459 | 0 | 0 | ||
| Loan from the Eva-Mayr-Stihl Foundation (5) | 0 | 100,000 | 0 | 100,000 | ||
| Participating capital (6) | 44,962 | 43,115 | 44,962 | 43,115 | ||
| Advance payments received | 9,852 | 16,533 | 731 | 0 | ||
| Trade payables | 244,466 | 305,066 | 36,337 | 68,635 | ||
| Liabilities to affiliated companies | 584 | 681 | 336,813 | 153,973 | ||
| Liabilities to companies in which a participating interest is held | 189 | 495 | 0 | 7 | ||
| Liabilities to shareholders | 779,817 | 695,178 | 0 | 0 | ||
| Other liabilities | 118,224 | 126,160 | 36,015 | 38,247 | ||
| 1,236,209 | 1,291,687 | 454,858 | 403,977 | |||
| prepaid expenses | 2,972 | 2,951 | 2,752 | 2,200 | ||
| Deffered tax liabilities | 58,560 | 78,188 | 3,519 | 4,029 | ||
| Total | 9,052,764 | 8,822,737 | 2,069,896 | 2,046,183 | ||
Consolidated financial statements of STIHL HOLDING AG & Co. KG
in millions of euros
| Assets | ||
|---|---|---|
| Fixed assets | 4,432 | |
| Inventories | 1,995 | |
| Other assets | 2,626 | |
| Assets | 9,053 | |
| Equity and liabilities | ||
|---|---|---|
| Equity | 6,444 | |
| Provisions | 1,311 | |
| Other liabilities | 1,298 | |
| Equity and liabilities | 9,053 | |
Consolidated financial statements of ANDREAS STIHL AG & Co. KG
in millions of euros
| Assets | ||
|---|---|---|
| Fixed assets | 1,073 | |
| Inventories | 368 | |
| Other assets | 629 | |
| Assets | 2,070 | |
| Equity and liabilities | ||
|---|---|---|
| Equity | 764 | |
| Provisions | 845 | |
| Other liabilities | 461 | |
| Equity and liabilities | 2,070 | |
Notes
Accounting and valuation methods
Fixed assets are valued at acquisition or production cost. In addition to direct costs, the production cost of self-constructed property, plant, and equipment includes proportionate overheads and production-related depreciation. Assets with a limited useful life are depreciated on a straight-line basis. Impairment losses are recognized in the event of an expected permanent reduction in value.
Inventories are valued at acquisition or production cost, or at the lower net realizable value. Production costs include direct material and labor costs as well as appropriate manufacturing and material overheads. General sales risks are reflected by appropriate range deductions.
Receivables and other assets are stated at their nominal values. Identifiable individual risks and general credit risk are accounted for by appropriate write-downs.
Pension provisions are determined using the projected unit credit method based on the Heubeck 2018 G mortality tables.
Other provisions are measured to account for all identifiable risks and uncertain liabilities.
Liabilities are stated at their settlement amount.
Scope of consolidation
The consolidated financial statements include STIHL Holding AG & Co. KG and all domestic and foreign affiliated companies (see overview).
Due to their minor importance, Carl Benz Center GmbH & Co. KG, Stuttgart, and Carl Benz Center Neckarpark GmbH, Stuttgart, are not included in the consolidated financial statements.
Capital consolidation
Capital consolidation is carried out in accordance with Section 301 (1) to (3) of the German Commercial Code (HGB). Differences arising from first-time consolidation before January 1, 2010, were offset against retained earnings.
Other consolidation methods
Intercompany receivables, payables, income, and expenses are eliminated.
Intercompany profits are eliminated pursuant to Section 304 (1) of the German Commercial Code (HGB).
Deferred taxes are recognized on intercompany profits as well as on debt consolidation affecting income.
Currency conversion
Capital and reserves of foreign Group member companies were converted at historical mid-market spot rates at the time of initial consolidation. Other assets and liabilities were translated at the mid-market spot rates on the balance sheet date.
Notes to the Balance Sheet
of STIHL Holding AG & Co. KG and the Balance Sheet of ANDREAS STIHL AG & Co. KG
Assets
(1) Financial assets
The financial assets reported in the consolidated financial statements mainly related to participating interests and securities held as fixed assets.
(2) Securities
These are predominantly other securities used for short-term investments.
Equity and liabilities
(3) Equity
In both balance sheets, the equity is shown as a total amount in accordance with Section 9 (3) of the German Disclosure Act (Publizitätsgesetz). Equity includes noncontrolling interests in the amount of 857 thousand euros.
(4) Provisions
Pension provisions cover existing pension payments as well as future entitlements. Other provisions include possible outstanding employee benefits, warranties, and other uncertain risks.
(5) Loan from the Eva Mayr-Stihl Foundation
The loan was available to ANDREAS STIHL AG & Co. KG.
(6) Participation capital
Employees of ANDREAS STIHL AG & Co. KG again took advantage of the opportunity to participate in the company’s capital in the form of participation rights during the 2025 fiscal year.
(7) Average number of Group employees
| Europe | 9,678 | |
| Americas | 6,122 | |
| Asia/Oceania/Africa | 4,414 | |
| total | 20,214 |