FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
FY 2012 Annual Report - Orascom Development
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F-45 <strong>Orascom</strong> <strong>Development</strong> <strong>2012</strong> <strong>Annual</strong> <strong>Report</strong> F-46<br />
16 PROPERTY, PLANT AND EQUIPMENT<br />
CHF<br />
Freehold<br />
land<br />
Buildings<br />
Plant and<br />
equipment<br />
Furniture<br />
and fixtures<br />
Property<br />
under<br />
construction<br />
Total<br />
CHF<br />
Freehold<br />
land<br />
Buildings<br />
Plant and<br />
equipment<br />
Furniture<br />
and fixtures<br />
Property<br />
under<br />
construction<br />
Total<br />
ACCUMULATED DEPRECIATION AND IMPAIRMENT<br />
Balance at<br />
- 70,133,162 74,283,139 43,946,580 - 188,362,881<br />
1 January 2011<br />
COST<br />
Balance at<br />
1 January 2011<br />
145,211,428 521,217,283 132,440,779 80,501,535 235,069,698 1,114,440,723<br />
Additions 293,618 29,501,690 18,389,774 9,492,540 50,166,088 107,843,710<br />
Disposals / Transfers (4,247,052) (2,045,770) (1,803,321) (3,218,523) - (11,314,666)<br />
Transferred to<br />
investment property<br />
Derecognized on disposal<br />
of a subsidiary<br />
Foreign currency<br />
exchange differences<br />
Balance at<br />
1 January <strong>2012</strong><br />
- - (7,356,692) - - (7,356,692)<br />
- - - - - -<br />
(1,910,770) (12,366,436) (3,112,360) (1,673,546) (2,317,572) (21,380,684)<br />
139,347,224 536,306,767 138,558,180 85,102,006 282,918,214 1,182,232,391<br />
Additions 529,380 36,050,845 8,088,552 5,277,827 78,792,755 128,739,359<br />
Disposals / transfers (195,635) (983,728) (2,467,290) (3,274,921) (3,474,928) (10,396,502)<br />
Derecognized on disposal<br />
of a subsidiary<br />
Foreign currency<br />
exchange differences<br />
Balance at<br />
31 December <strong>2012</strong><br />
- (1,210,766) (2,482,463) (1,012,342) (1,731,778) (6,437,349)<br />
(8,095,926) (37,431,633) (9,665,786) (5,348,730) (5,974,157) (66,516,232)<br />
131,585,043 532,731,485 132,031,193 80,743,840 350,530,106 1,227,621,667<br />
Eliminated on disposals of<br />
assets<br />
Transferred to investment<br />
property<br />
- (139,970) (742,290) (1,278,127) - (2,160,387)<br />
- - (2,497,094) - - (2,497,094)<br />
Depreciation expense - 12,958,029 11,785,655 8,755,841 - 33,499,525<br />
Foreign currency<br />
exchange differences<br />
Balance at<br />
1 January <strong>2012</strong><br />
Eliminated on disposals of<br />
assets<br />
- (1,767,877) (1,753,655) (813,189) - (4,334,721)<br />
- 81,183,344 81,075,755 50,611,105 - 212,870,204<br />
- (58,185) (1,099,883) (2,928,395) - (4,086,463)<br />
Derecognized on disposal<br />
of a subsidiary<br />
- (420,308) (1,456,943) (760,529) - (2,637,780)<br />
Depreciation expense - 14,082,187 10,820,182 9,589,990 - 34,492,359<br />
Foreign currency<br />
exchange differences<br />
Balance at<br />
31 December <strong>2012</strong><br />
- (6,102,790) (6,143,093) (3,752,390) - (15,998,273)<br />
- 88,684,248 83,196,018 52,759,781 - 224,640,047<br />
CARRYING AMOUNT<br />
At 31 December 2011 139,347,224 455,123,423 57,482,425 34,490,901 282,918,214 969,362,187<br />
At 31 December <strong>2012</strong> 131,585,043 444,047,237 48,835,175 27,984,059 350,530,106 1,002,981,620<br />
At 31 December <strong>2012</strong>, property, plant and equipment (PPE) of the Group with a carrying amount of CHF 70.3 million (31 December<br />
2011: CHF 92.9 million) were pledged to secure borrowings of the Group as described in note 31. See note 11 for the capitalized<br />
finance cost during the year.<br />
F-45<br />
F-46
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