ANNUAL REPORT 2008 - Gorenje Group

115
Movement of property, plant and equipment in 2008
in TEUR Land Buildings
Manufacturing
plant and
equipment
PPE
under
construction
Cost 1 January 2008 45,168 300,159 531,263 18,176 894,766
Acquisition 1,577 6,128 7,356 55,607 70,668
Acquisition through business
combinations
287 706 2,966 245 4,204
Disposal of Group companies -223 -64 -287
Disposals, writedowns -1,067 -8,358 -14,401 -756 -24,582
Revaluation 9,684 9,684
Transfer to investment property -114 -114
Transfer from investment
property
3,295 3,295
Other transfers 1,851 8,312 33,763 -44,881 -955
Exchange differences -230 -1,131 -1,272 -236 -2,869
Cost 31 December 2008 57,270 308,774 559,611 28,155 953,810
Accumulated depreciation
1 January 2008
0 141,914 368,061 0 509,975
Additional investments -3 -59 -62
Disposal of Group companies -14 -24 -38
Disposals, writedowns -5,547 -13,725 -19,272
Depreciation expense 9,738 42,162 51,900
Transfer to investment property
Transfer from investment
property
140 140
Other transfers -71 -423 -494
Exchange differences -365 -927 -1,292
Accumulated depreciation
31 December 2008
0 145,792 395,065 0 540,857
Carrying amount 1 January 2008 45,168 158,245 163,202 18,176 384,791
Carrying amount
31 December 2008
57,270 162,982 164,546 28,155 412,953
Total
An increase in property, plant and equipment arising from the inclusion of new companies in the
amount of TEUR 4,204 refers to the inclusion of the companies Atag Europe BV, PUBLICUS, d.o.o., IG
AP, d.o.o., and Gorenje Kuhinje, d.o.o., in consolidated financial statements.
The transfers include the transfers from property to investments property, the transfers from intangible
assets to property, plant and equipment, and the transfers between individual items.
The disposal of property, plant and equipment includes the sale of non-operating assets.
The Group’s land was re-valued in 2008. The valuation was performed on the basis of its fair market
value determined by an independent certified appraiser of real estate. The effect of revaluation
in 2008 amounted to TEUR 9,684. The conditions for impairment of assets were not identified in
2008.
As at 31 December 2008, financial liabilities were not secured by mortgage on property.