|
Company |
Quarries |
Land |
Buildings |
Plant & equipment |
Motor vehicles |
Office furniture, fixtures and equipment |
Assets under construction |
Total |
| (all amounts in Euro thousands) |
Year ended 31 December 2012 |
| Opening balance |
995 |
3.695 |
52.781 |
165.442 |
1.015 |
8.965 |
18.218 |
251.111 |
| Additions |
21 |
- |
386 |
962 |
84 |
265 |
3.951 |
5.669 |
| Disposals (NBV) (note 29) |
- |
- |
- |
-6.648 |
- |
-23 |
- |
-6.671 |
| Reclassification of assets to other PPE categories |
- |
- |
4.096 |
14.803 |
- |
77 |
-18.976 |
- |
| Transfers from inventories (note 19) |
- |
- |
- |
89 |
- |
- |
- |
89 |
| Depreciation charge (note 29) |
-66 |
- |
-2.495 |
-9.744 |
-187 |
-1.078 |
- |
-13.570 |
| Reversal of impairment of PPE due to disposal (note 29) |
- |
- |
- |
1.042 |
1 |
1 |
- |
1.044 |
| Ending balance |
950 |
3.695 |
54.768 |
165.946 |
913 |
8.207 |
3.193 |
237.672 |
| At 31 December 2012 |
|
|
|
|
|
|
|
|
| Cost |
1.608 |
3.695 |
93.013 |
316.710 |
4.258 |
26.369 |
3.193 |
448.846 |
| Accumulated depreciation |
-658 |
- |
-38.245 |
-148.589 |
-3.339 |
-17.931 |
- |
-208.762 |
| Accumulated losses of impairment of PPE |
- |
- |
- |
-2.175 |
-6 |
-231 |
- |
-2.412 |
| Net book value |
950 |
3.695 |
54.768 |
165.946 |
913 |
8.207 |
3.193 |
237.672 |
|
Company |
Quarries |
Land |
Buildings |
Plant & equipment |
Motor vehicles |
Office furniture, fixtures and equipment |
Assets under construction |
Total |
| (all amounts in Euro thousands) |
Year ended 31 December 2013 |
| Opening balance |
950 |
3.695 |
54.768 |
165.946 |
913 |
8.207 |
3.193 |
237.672 |
| Additions |
33 |
- |
574 |
1.705 |
136 |
230 |
7.253 |
9.931 |
| Disposals (NBV) (note 29) |
- |
- |
- |
-600 |
-20 |
-16 |
- |
-636 |
| Reclassification of assets to other PPE categories |
- |
- |
210 |
1.110 |
- |
- |
-1.320 |
- |
| Transfers to investment properties (note 12) |
- |
-170 |
-1.645 |
- |
- |
- |
- |
-1.815 |
| Depreciation charge (note 29) |
-63 |
- |
-2.297 |
-9.288 |
-179 |
-1.017 |
- |
-12.844 |
| Reversal of impairment of PPE due to disposal (note 29) |
- |
- |
- |
24 |
- |
- |
- |
24 |
| Ending balance |
920 |
3.525 |
51.610 |
158.897 |
850 |
7.404 |
9.126 |
232.332 |
| At 31 December 2013 |
|
|
|
|
|
|
|
|
| Cost |
1.640 |
3.695 |
91.744 |
317.347 |
3.964 |
26.523 |
9.126 |
454.039 |
| Accumulated depreciation |
-720 |
- |
-40.134 |
-156.298 |
-3.108 |
-18.888 |
- |
-219.148 |
| Accumulated losses of impairment of PPE |
- |
-170 |
- |
-2.152 |
-6 |
-231 |
- |
-2.559 |
| Net book value |
920 |
3.525 |
51.610 |
158.897 |
850 |
7.404 |
9.126 |
232.332 |
Disposal of assets
Group
During 2013, the Group received €4.7 mil. from the disposal of tangible assets with total net book value of €3.1 mil. Thus, the Group recognized a €1.6 mil. gain on disposal of PPE in the consolidated income statement.
The majority of the disposals during 2013 were made by a Group subsidiary in the U.S.A., which received €3.4 mil. from the disposal of land. The net book value of this asset was €1.0 mil., so the gains on the disposal were €2.4 mil..
During 2012, the Group received €28.6 mil. from the disposal of tangible assets with total net book value of €25.8 mil. Thus, the Group recognized a €2.8 mil. gain on disposal of PPE in the consolidated income statement.
The majority of the disposals were made by a Group subsidiary in the U.S.A., which received the amount of €27.0 mil. from the disposal of machinery and railcars. The net book value of these assets totaled €23.6 mil., so the gains on the disposals were €3.4 mil.
Company
During 2013, the Company received €692 thousand from the disposal of tangible assets with total net book value of €636 thousand. Thus, the Company recognized a €56 thousand gain on disposal of PPE in the income statement.
During 2012, the Company received €6.4 mil. from the sale of machinery to a Group Subsidiary with total net book value of €6.7 mil. Thus, the Company recognized a €232 thousand loss on disposal of PPE in the income statement.
Impairment of property, plant and equipment:
Assets that have an indefinite useful life (land) are not subject to amortization and are tested annually for impairment. Assets that are subject to amortization are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable. An impairment loss is recognized as an expense immediately in other expenses, for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use.
During 2013, the Group recorded an amount of €0.6 mil. as impairment of tangible assets. The impairment is related to a cement distribution terminal that was under construction in Florida, USA.
During 2012, the Group recorded a reversal of impairment amounting to €0.9 mil. mainly due to machinery of the Company, as the reasons for such an impairment were changed.
Pledge of assets
The assets of the Company have not been pledged. The assets of the Group have a pledge for the amounts of €61.5 mil. (31.12.2012: €61.5 mil.) and TRY 26 mil. (€8.9 mil.) (31.12.2012: TRY 26 mil. - €11.1 mil.). The pledge relates to the Group's joint venture Adocim Cimento Beton Sanayi ve Ticaret A.S. in Turkey, as a security of its bank credit facilities and is on the assets of this entity. As at 31.12.2013, utilization under these credit facilities amounted to €17.3 mil. (31.12.2012: €27.3 mil.).