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4. Inventories
5. Property, plant and equipment
consolidated financial statements notes pfleiderer ag 89
The inventories are as follows:
Dec. 31, 2002 Dec. 31, 2001
‘000 euros ‘000 euros
Raw materials, consumables and supplies 50,050 59,716
Work in progress 15,695 26,694
Finished goods and merchandise 48,052 46,212
Payments on account 600 59
Total 114,397 132,681
Information on changes in property, plant and equipment is presented in the analysis of
consolidated fixed assets included herein.
Property, plant and equipment is as follows:
Dec. 31, 2002 Dec. 31, 2001
‘000 euros ‘000 euros
Land, land rights and buildings, including buildings
on third-party land 178,821 186,577
Technical equipment and machinery 172,972 199,686
Other equipment, factory and office equipment 13,075 13,064
Construction in progress 16,678 18,249
Total 381,546 417,576
Depreciation on property, plant and equipment in fiscal 2002 came to 48,769 thousand euros
(2001: 47,276 thousand euros). Of this, 1,642 thousand euros were recognized as extraordinary
depreciation in the year under review in order to fully write off a particleboard press and
an impregnation unit in Poland (the machines in question were no longer usable in the production
process). Additionally, real estate with buildings for sale was valued at net realizable value
and written down by 1,665 thousand euros.
In fiscal 2002, the Group capitalized 161 thousand euros as interest charges on
qualifying property. No interest charges on qualifying property were capitalized in the previous
financial year.
In 2002, state grants totaling 2,120 thousand euros were received for a site in Leipzig,
part of the Infrastructure Technology Business Center. The grant is payable on condition that a
specific minimum number of people are employed. This condition was fulfilled. The grant is tied
to this condition until the end of November 2007. Additionally, grants of 465 thousand euros
were received for the Wood-Based Panels site in Gütersloh.
Additional grants were also awarded to business units shown in the accounts under discontinued
operations, or to units that have already been sold. These particular grants relate to
the development of a 5 MWh wind converter of the Wind Power Business Unit. The grant
amounted to 1,300 thousand euros, plus a further investment grant of 1,535 thousand euros to
set up the Delitzsch production site. The investment grant for Delitzsch is also coupled to the