2007 - Pinguely Haulotte

Consolidated financial statements of December 31st, 2007
Trade receivables that are due are analyzed notably on the basis of the customer rating established by the Group (cf. note 4.c).
Concerning these items and the resulting risk assessment, the Group determines the necessity of recording a provision. When
applicable, provisions are recorded for the difference between the book value of the receivable and the estimated resale value
determined in reference to professional price listings.
Note 15 - 0ther debtors
"Other receivables" includes mainly VAT receivables.
Note 16 - Receivables by maturity
31/12/2007 31/12/2006
Other receivables 17 972 13 235
Advances and instalments paid on orders 604 1 105
Prepaid expenses 2 347 1 881
Total 20 923 16 221
At 31/12/07
Amount maximum
12 year
1-5 years
Trade receivables and related accounts 252 271* 252 271 0
Trade receivables from financing activities 80 514* 33 405 47 109
Other debtors 20 924 20 924 0
Total
* Including receivables due of K€29 577 (cf. note 14)
353 709 306 600 47 109
At 31/12/06
Amount maximum
12 year
1-5 years
Trade receivables and related accounts 224 258 224 258 0
Trade receivables from financing activities 103 218 38 705 64 513
Other debtors 16 221 16 221 0
Total 343 697 279 184 64 513
Note 17 - Deferred taxes
Deferred tax assets are offset by deferred tax liabilities generated in the same tax jurisdiction. Deferred taxes are recoverable within one
year except those calculated on the fair value of rental equipment, provisions for retirement commitments, translation differences on
foreign net investments and the amortization of development expenditures.
Deferred tax assets from unrecognized tax losses totalled K€6 635.
Deferred taxes after offsetting assets and liabilities in the same tax jurisdiction break down as follows:
31/12/2007 31/12/2006
Deferred taxes assets 8 042 2 677
Deferred tax liabilities (2 523) (1 229)
Total 5 519 1 448
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