Annual Report 2008-2009 - Emirates.com

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8. Property, plant and equipment Cost 1 April 2007 Additions Currency translation differences (22,753) (9,037) (631) (173) (115) (32,709) 123 Buildings Airport Office and plant equipment leasehold and and Motor Capital property equipment furniture vehicles projects Total AED'000 AED'000 AED'000 AED'000 AED'000 AED'000 507,537 910 Acquisitions (Note 25) 1,555 Currency translation differences Transfer from capital projects 23,609 2,053 442,860 50,550 24,126 8,772 9,498 660,938 112,003 795 450 28,385 22,525 4,203 684 166 43,387 23,143 Disposals (35,202) (12,385) (21,885) (507) - 31 March 2008 Depreciation 1 April 2007 500,462 81,539 Charge for the year 30,020 Currency translation differences 2,059 523,421 264,138 72,727 2,203 780,686 485,767 80,656 - 27,071 13,303 3,709 (58) 49 - 305 1,677,247 190,809 27,160 33,302 (39,936) - 26,899 Disposals (35,115) (10,858) (21,540) (437) - 31 March 2008 78,503 Net book amount 31 March 2008 421,959 Cost 1 April 2008 500,462 Additions 366 Acquisition (Note 25) - Transfer from capital projects 10,299 328,210 195,211 523,421 37,697 - 2,068 544,825 235,861 780,686 92,461 526 42,314 16,624 10,447 27,071 4,699 - - - - 26,899 26,899 36,799 Disposals (3,902) (10,060) (15,846) (3,443) - 31 March 2009 484,472 Depreciation 1 April 2008 78,503 Charge for the year 23,219 544,089 328,210 65,292 899,510 544,825 99,747 312 - 28,466 16,624 Currency translation differences (1,808) (2,947) (77) (52) - Disposals (3,902) (9,561) (15,544) (2,540) - 31 March 2009 96,012 Net book amount 31 March 2009 388,460 380,994 163,095 628,951 270,559 4,447 18,479 9,987 - (69,979) 1,858,539 844,747 187,112 4,253 (67,950) 968,162 890,377 1,858,539 172,022 838 (54,681) - 8,902 - - - 8,902 (33,251) 1,965,439 968,162 192,705 (4,884) (31,547) 1,124,436 841,003
Dnata 9. Intangible assets Cost 124 1 April 2007 85,152 Additions - Acquisition (Note 25) 214,656 Currency translation differences 43,428 Disposals - 31 March 2008 343,236 Amortisation 1 April 2007 - Charge for the year - Currency translation differences - Disposals - 31 March 2008 - Net book amount 31 March 2008 343,236 Computer Customer Contractual Goodwill software relationships rights Total AED'000 AED'000 AED'000 AED'000 AED'000 102,102 14,474 - 431 (773) 116,234 11,586 58,354 1,159 13,715 2,317 264 - (746) - 71,587 44,647 11,586 - - - - 3,476 83,404 282,244 - 14,474 272,493 487,149 53,047 96,906 - (773) 408,944 42,920 Computer software includes an amount of AED 18.1 million (2008: AED 15.4 million) in respect of projects under implementation. 880,000 19,286 78,799 19,834 35,866 3,800 4,064 - (746) 117,983 For the purpose of testing goodwill for impairment, goodwill amounting to AED 82.0 million (2008: AED 90.3 million) is allocated to the airport services cash generating unit in Singapore and AED 217.4 million (2008: AED 249.8 million) is allocated to the airport services cash generating unit in Switzerland. The recoverable amount for the cash generating unit has been determined on the basis of value-in- use calculations. The key assumptions used in the value-in-use calculations for the Singapore and Switzerland cash generating units include a risk adjusted discount rate, historical gross margins of 15% and 20% respectively and growth rates based on management's expectations for market development. Cash flow projections for these cash generating units are based on forecasts approved by management covering a five year period and discount rates of 10% and 8% per annum respectively. Cash flows beyond the five year period have been extrapolated using growth rates of 3% and 2% respectively. These growth rates do not exceed the long term average growth rate for the markets in which these cash generating units operate. 8,110 Cost 1 April 2008 343,236 116,234 11,586 Additions - 25,765 - Acquisition (Note 25) - - 487 Currency translation differences (40,738) (1,143) - 31 March 2009 Amortisation 302,498 140,856 12,073 1 April 2008 - 71,587 3,476 Charge for the year - 17,001 2,375 Currency translation differences - (883) - 31 March 2009 - 87,705 5,851 Net book amount 31 March 2009 302,498 53,151 6,222 366,024 762,017 408,944 880,000 - 25,765 - 487 (49,610) (91,491) 359,334 814,761 42,920 117,983 37,389 56,765 (6,525) (7,408) 73,784 285,550 167,340 647,421 Goodwill allocated to the travel agency cash generating unit amounts to AED 3.1 million (2008: AED 3.1 million) and is not significant in comparison to the total carrying amount of goodwill. Further, due to the profitability of this business unit, management is of the opinion that goodwill is not impaired.
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Annual Report 2008-2009 The Emirate
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The Emirates Group Emirates is the
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4 The Emirates Group Chairman and C
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6 The Emirates Group Chairman and C
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8 The Emirates Group Executive Vice
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First Class Suite 10 Emirates Presi
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12 Emirates The Airline Emirates A3
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14 Emirates The Airline 15 Emirates
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Other firsts included: The implemen
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A series of relief charter flights
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In West Asia, the total number of f
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Public, International, Industry and
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the aircraft had a direct impact on
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Creek extensions, and finally linki
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In Dubai, Dnata Travel Services ope
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coordination between them. This has
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Government Travel Services (GTS) ex
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XDAS also provided support for the
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EmQuest EmQuest is a travel distrib
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airport by serving 99,000 flights d
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Creation of the Customer Knowledge
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Tanzania; oversee Dnata Travel’s
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external agencies such as Dubai Imm
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- An enhanced version of flightcrew
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3 was heavily advertised, This incl
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was attended by officials of the Ba
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Contents Financial Report 2008-2009
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Consolidated financial statements T
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Profitability Group net profit for
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Value added Value added is a measur
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Fuel and oil 14,443 Employee (see (
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Capacity, traffic, load factor and
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At 31 Mach 2009: Fleet information
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Expenditure 067 2008-09 2007-08 AED
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Employee strength and productivity
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Independent auditor’s report to t
Page 74 and 75: Consolidated balance sheet as at 31
Page 76 and 77: Consolidated cash flow statement fo
Page 78 and 79: 2. Summary of significant accountin
Page 84 and 85: 3. Critical accounting estimates an
Page 86 and 87: 4. Revenue (continued) Transport re
Page 88 and 89: 10. Property, plant and equipment C
Page 90 and 91: 11. Intangible assets Cost 1 April
Page 92 and 93: Movement of investments in associat
Page 94 and 95: 14. Other investments (continued) (
Page 96 and 97: 18. Capital Capital represents the
Page 98 and 99: 22. Term loans Balance brought forw
Page 100 and 101: 24. Provisions (continued) (i) Fund
Page 102 and 103: 27. Trade and other payables Trade
Page 104 and 105: 32. Derivative financial instrument
Page 106 and 107: 34. Related party transactions The
Page 108 and 109: 35. Financial risk management Finan
Page 110 and 111: 35. Financial risk management (cont
Page 112 and 113: 36. Capital risk management Emirate
Page 114 and 115: Consolidated income statement for t
Page 116 and 117: 1 April 2007 62,615 Currency transl
Page 118 and 119: 1. Establishment and operations Not
Page 126 and 127: 10. Investments in subsidiaries, as
Page 128 and 129: 12. Trade and other receivables Tra
Page 130 and 131: 14. Employee end of service benefit
Page 132 and 133: 17. Trade and other payables Less t
Page 134 and 135: 23. Related party transactions The
Page 136 and 137: 24. Financial risk management Dnata
Page 138 and 139: 24. Financial risk management (cont
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Annual Report 2008-2009 - Emirates.com

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