2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
2007 - Pinguely Haulotte
Create successful ePaper yourself
Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.
<strong>2007</strong><br />
annual report # p97-98<br />
Consolidated financial statements of December 31st, <strong>2007</strong><br />
Note 10 - Intangible assets<br />
31/12/2006 Increase Decrease Transfert Assets 31/12/<strong>2007</strong><br />
and other held for<br />
changes sale<br />
- Development expenditure 7 405 533 7 938<br />
- Concessions, patents, licenses 4 334 2 319 (1) (51) 6 601<br />
- Other intangible assets 279 97 (184) (20) 171<br />
Gross value 12 018 2 949 (185) (20) (51) 14 710<br />
- Amortization/impairment of<br />
development expenditure 4 157 1 682 5 839<br />
- Amortization of concessions, patents, licenses, etc. 2 604 862 (1) (33) 3 432<br />
- Amortization of other intangible assets 118 15 (43) (4) 86<br />
Accumulated depreciation and impairment 6 879 2 559 (44) (4) (33) 9 356<br />
Net value 5 139 390 (141) (16) (18) 5 354<br />
The €2.3 million increase in "concessions, patents, licenses" concerns primarily IT investments.<br />
The amortization of development expenditures is included under the cost of goods sold in the income statement. The impairment of<br />
development expenditures of K€511 has been recognized in the income statement under "other operating income and expenses"<br />
(see note 3.2).<br />
Note 11 - Property, plant and equipment<br />
31/12/2006 Increase Decrease Transfert Translation Assets 31/12/<strong>2007</strong><br />
and other adjustments held for<br />
changes * sale<br />
- Land 1 776 3 983 (90) (147) 5 522<br />
- Buildings 14 930 2 051 (11) 551 (2) (970) 16 549<br />
- Plant machinery 13 177 3 206 (410) 2 967 (56) (504) 18 380<br />
- Equipment for rental 87 890 16 241 (5 818) 1 406 (2 188) (47 238) 50 293<br />
- Other PPE 4 995 3 435 227 7 (152) (69) 8 443<br />
- Fixed assets in progress 4 684 727 (3 117) (88) (791) 1 415<br />
Gross value 127 452 29 642 (6 012) 1 814 (2 576) (49 719) 100 602<br />
- Accumulative depreciation / Land 6 13 45 (63)<br />
- Impairment/buildings 5 500 1 009 (8) 173 (365) 6 309<br />
- Impairment/plant machinery 7 156 1 204 (324) (78) (6) (332) 7 620<br />
- Impairment/rental equipment 25 446 16 020 (2 420) 2 400 (745) (19 457) 21 244<br />
- Impairment/other PPE<br />
Accumulative depreciation<br />
2 217 1 057 (277) 25 (47) (23) 2 954<br />
and impairment 40 325 19 303 (3 029) 2 565 (797) (20 240) 38 127<br />
Net value 87 127 10 339 (2 983) (750) (1 779) (29 479) 62 475<br />
* Amounts under "transfers and other changes" concern principally the reclassification of fixed assets in progress of the prior year as fixed assets.<br />
The €4.0 million increase in "Land" includes €2.8 million for the acquisition of land in Madrid for the construction of a new building for<br />
the optimization of <strong>Haulotte</strong> Iberica installations and its further expansion.<br />
The increase in "equipment for rental" of €16.2 million concerns primarily the acquisition of aerial work platforms by rental companies:<br />
€6.5 million by the subsidiary LEV S.A.S, €2.9 million by UK Platforms, €0.3 million by L.M.E. €5.7 million by Nove and €0.8 million by<br />
Royans Levage.<br />
In addition, significant disposals were carried out by rental companies: a gross amount of €2 million or a net amount of €1.1 million for LEV<br />
S.A.S and a gross amount of €2.2 million or a net amount of €1 million for UK Platforms. These disposals generated a capital gain of €1 million.<br />
Fixed assets in progress include a €1 million investment for the new manufacturing subsidiary <strong>Haulotte</strong> Arges in operation since the<br />
first quarter of <strong>2007</strong>.