Company 17: Property, plant and equipment (PPE)
| In TEUR | 2011 | 2010 |
|---|---|---|
| Land | 20.365 | 20.365 |
| Buildings | 55.330 | 57.843 |
| Production and other equipment | 73.000 | 77.844 |
| Property, plant and equipment under construction | 4.063 | 1.812 |
| Total | 152.758 | 157.864 |
| In TEUR | Land | Buildings | Production and other equipment | PPE under construction | Total |
|---|---|---|---|---|---|
| Cost at 1 January 2011 | 20.365 | 152.255 | 415.888 | 1.812 | 590.320 |
| Acquisition | 14.548 | 14.548 | |||
| Disposal, write-down | -8.538 | -8.538 | |||
| Transfer | 964 | 11.333 | -12.297 | 0 | |
| Cost at 31 December 2011 | 20.365 | 153.219 | 418.683 | 4.063 | 596.330 |
| Accumulated depreciation at 1 Jan 2011 | 0 | 94.412 | 338.044 | 0 | 432.456 |
| Disposal, write-down | -8.152 | -8.152 | |||
| Reposting to investment property | 0 | ||||
| Depreciation expense | 3.477 | 15.791 | 19.268 | ||
| Accumulated depreciation at 31 Dec 2011 | 0 | 97.889 | 345.683 | 0 | 443.572 |
| Carrying amount at 1 Jan 2011 | 20.365 | 57.843 | 77.844 | 1.812 | 157.864 |
| Carrying amount at 31 Dec 2011 | 20.365 | 55.330 | 73.000 | 4.063 | 152.758 |
| In TEUR | Land | Buildings | Production and other equipment | PPE under construction | Total |
|---|---|---|---|---|---|
| Cost at 1 January 2010 | 20.118 | 150.295 | 418.873 | 2.030 | 591.316 |
| Acquisition | 10.986 | 10.986 | |||
| Disposal, write-down | -8 | -121 | -11.853 | -11.982 | |
| Transfer | 255 | 2.081 | 8.868 | -11.204 | 0 |
| Cost at 31 December 2010 | 20.365 | 152.255 | 415.888 | 1.812 | 590.320 |
| Accumulated depreciation at 1 Jan 2010 | 0 | 90.913 | 328.136 | 0 | 419.049 |
| Disposal, write-down | -6 | -10.949 | -10.955 | ||
| Reposting to investment property | 0 | ||||
| Depreciation expense | 3.505 | 20.857 | 24.362 | ||
| Accumulated depreciation at 31 Dec 2010 | 0 | 94.412 | 338.044 | 0 | 432.456 |
| Carrying amount at 1 Jan 2010 | 20.118 | 59.382 | 90.737 | 2.030 | 172.267 |
| Carrying amount at 31 Dec 2010 | 20.365 | 57.843 | 77.844 | 1.812 | 157.864 |
Land
In 2008, land was appraised on the basis of the fair value determined by an independent certified appraiser of real property. The effect of revaluation to fair value amounted to TEUR 7,455. The conditions leading to impairment were not established. In the following periods, assessments were carried out which showed that there was no need for a repeated revaluation. If land was measured at fair value, the book value would amount to TEUR 12,910.
Buldings
An increase in the value of buildings in the amount of TEUR 964 is mainly due to the renovation of office and production buildings in the amount of TEUR 472, the installation of energy saving lighting in the amount of TEUR 175, and the landscaping around the warehouse for finished products in the amount of TEUR 135.
A decrease in the value of buildings is due to depreciation expense.
No real property has been pledged as security for liabilities from borrowings.
Production and other equipment
The increase in the value of equipment is due to capitalised technological equipment acquired and commissioned in 2011.
In 2011, the reconstruction and upgrade of the production equipment were carried out in the amount of EUR 2.8 million, and of the test equipment in the amount of TEUR 629. Investments made in new tools amounted to EUR 5.5 million, in computed equipment to TEUR 288, and in servers for the SAP information system to TEUR 754. The modernisation of transport means was carried out in the amount of TEUR 683.
The decrease in the value of equipment is due to the sale of equipment, the disposal of obsolete equipment, and depreciation expense.
In 2009, the appraisal of plant and equipment was carried out to determine their recoverable value. No conditions leading to impairment were established.
Property, plant and equipment under construction
Property, plant and equipment under construction relate mainly to the equipment for production of the new generation of 10 kg washing machines and dryers.