ARCO VARA AS - NASDAQ OMX Baltic

19 Long-term receivables
in thousands of kroons
31.12.2005 31.12.2004
Receivables from joint venture (Note 35) 850 19 825
Long-term loan receivables 1 5 380 213
Other long-term receivables 2 10 737 27 690
Total long-term receivables 16 967 47 728
1 Long-term loan receivables as of 31.12.2005 include receivables from related parties with interest
rate of 4%-4.5% (see also Note 35). Maturity dates have been deterimined up to 31.12.2008 and these
loans are unsecured.
2 Other long-term receivables as of 31.12.2005 consist of the following receivables:
• receivables from local municipalities in nominal amount of 11 475 thousand kroons (2004:
11 475 thousand kroons). Due to changes in estimates the receivable was written down by 5 067
thousand kroons (in 2004, the Group estimated to collect the money by 2009; in accordance
with current estimates the year 2015 has been considered as a final maturity date). The discount
rate of 6% was used in the calculation of the recoverable amount of the specified receivable. The
impaiment loss of the receivable from local municipalities has been recorded under “Financial
items and investment activity income (expenses)”.
• Receivable arisen from sales of shares of subsidiaries in the total amount of 1 542 thousand
kroons (2004: 1 922 thousand kroons). The maturity date of the receivable is the year 2008. The
receivable has been discounted with the rate of 6%.
• prepayment related to purchase of a joint venture in Latvia in the amount of 2 716 thousand
kroons (2004: 2 736 thousand kroons).
• other receivables of 71 thousand kroons (2004: 853 thousand kroons).
• 2004: other long-term receivables included also receivable for encumbering the real estate with
the personal right of use in the amount 10 704 thousand kroons. In the opinion of the
management, the receivable will be repaid in 2006 and therefore it has been reclassified to shortterm
receivables in 2005 (see also Note 14).
Note 20 Long-term investments into securities
in thousands of kroons
31.12.2005 31.12.2004
Long-term investments into shares – measured at cost 132 129
Long-term investments into shares – measured at fair value 1 2 871 1 280
Total long-term investments into securities 3 003 1 409
1
Long-term investments into shares – measured at fair value belong to the group of “financial assets at
fair value through profit or loss”.
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