Group 21: Property, plant and equipment (PPE)

Investments in the amount of TEUR 41,089 relate mainly to the continuation of the policy of focused investment in the development of Home Appliances, the restructuring of production activities (transfer of production of hot-water and heating systems from Ljubljana to Stara Pazova, Serbia), and partly the integration activities related to the Asko Group acquired in July 2010, as well as the opening of the plant in Zaječar, Serbia.

Disposal of property, plant and equipment relates to the sale of non-operating assets.

The Group’s land was valued as at 31 December 2008 by an independent certified valuer. Additional valuation in coming years showed that no conditions for revaluation of land and impairment of other items of property, plant and equipment exist. If land would be disclosed at cost, its carrying amount would be TEUR 37,145.

As at the reporting date, no financial liabilities were secured by mortgage on real property.

No borrowing costs were attributed to the items of property, plant and equipment in 2011.

Transfers include transfers from real property to investment property, transfers from intangible assets to property, plant and equipment, and transfers between individual items.