- Statement of Management's Responsibilities
- Independent Auditor's Report
- The consolidated financial statements
- Notes to the Consolidated Financial Statements
- General Information
- Main Accounting Policies
- Main Assumptions
- Risk Report
- Segment Reporting
- Notes to the Statement of Financial Position
- Intangible assets
- Property, plant and equipment
- Investment property
- Investments in associates
Financial assets 7
- Reinsurers' share of technical provisions
- Receivables
- Other assets
- Cash and cash equivalents
- Non-current assets held for sale
- Equity
- Subordinated liabilities
- Insurance technical provisions and insurance technical provisions for unit-linked insurance contracts
- Employee benefits
- Other provisions
- Deferred tax assets and liabilities
- Other financial liabilities
- Operating liabilities
- Other liabilities
- Notes to the Income Statement
- Other Information
- Appendix
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 |
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 |