6.3 Investment property

Investment property

 

 

 

in EUR

 

Land

Buildings

TOTAL

COST

 

 

 

As at 1 January 2010

36,433,224

53,505,498

89,938,722

  - acquisition

535,980

6,760,587

7,296,567

  - disposal

-10,009

-1,776,433

-1,786,442

  - other changes

-426,047

0

-426,047

  - impairment

-786,396

-31,558

-817,954

  - exchange rate differences

-77

-42,877

-42,954

As at 31 December 2010

35,746,675

58,415,217

94,161,892

  - acquisition

2,346,467

2,919,296

5,265,763

  - disposal

-725,292

-2,398,927

-3,124,219

  - other changes

4,846,451

8,822,996

13,669,447

  - impairment

0

-95,323

-95,323

  - exchange rate differences

-138

-27,519

-27,657

As at 31 January 2011

42,214,163

67,635,740

109,849,903

ACCUMULATED DEPRECIATION 

 

 

 

As at 31 January 2010

0

-7,941,670

-7,941,670

  - depreciation

0

-2,288,158

-2,288,158

  - disposal

0

322,599

322,599

  - exchange rate differences

0

1,592

1,592

As at 31 December 2010

0

-9,905,637

-9,905,637

  - depreciation

0

-1,597,034

-1,597,034

  - disposal

0

178,917

178,917

  - other changes

0

-1,740,789

-1,740,789

  - exchange rate differences

0

-470

-470

As at 31 December 2011

0

-13,065,013

-13,065,013

CARRYING AMOUNT

 

 

 

As at 31 December 2010

35,746,675

48,509,580

84,256,255

As at 31 December 2011

42,214,163

54,570,727

96,784,890


 

Documents

 
 
 

Transfers of land and buildings from »Property, plant and equipment« to »Investment property« are shown within »Other changes« (Slovenijales: land EUR 4.8 million, buildings EUR 3.4 million; Triglav Osiguruvanje,Skopje: buildings EUR 1.6 million). Other changes also include recognitions of buildings of Triglav Osiguranje, Zagreb in the amount of EUR 4.3 million.

The Group leases its investment properties, i.e. individual business premises. All leasing agreements, stipulated for an initial period from one to ten years, may be rescinded at any moment. Rents do not include conditional rents.

All investment property income relates exclusively to rents and is shown in the income statement under the item »Other income« (see Section 7.7). All investment property expenses relate to depreciation and maintenance costs arising from the investment property and are shown in the income statement under the item »Other expenses« (see Section 7.13). Fair value is disclosed below.

   

in EUR

 

31 December 2011

31 December 2011

Carrying amount

96,784,893

84,256,256

Estimated fair value

125,808,255

150,298,056

 

Documents

 
 
 
 
 
 
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