Annual Report 2008 Sustainable design & engineering - Grontmij

Notes to the consolidated financial statements
Financial lease liabilities
In thousands of euros
31 December 2008 31 December 2007
Future Interest Present value Future Interest Present value
minimum of minimum minimum of minimum
lease lease lease lease
payments payments payments payments
Less than one year 408 22 386 916 51 865
Between one to five years 180 6 174 586 26 560
588 28 560 1,502 77 1,425
22. Provisions
The movements in the provisions are as follows:
In thousands of euros
Total Aftercare liabilities Other
Balance as at 1 January 2008 26,929 22,080 4,849
Additions 919 35 884
Expenditure charged to provisions - 1,329 -664 -665
Amounts released to the income statement - 2,018 -1,449 -569
Interest added 695 695 -
- 1,733 - 1,383 - 350
Balance as at 31 December 2008 25,196 20,697 4,499
Current part of provisions 1,253 131 1,122
Balance as at 31 December 2008, non-current part 23,943 20,566 3,377
Aftercare liabilities
The Group has the obligation for the aftercare of sites, ensuring that waste products are processed for storage and ensuring its long term
maintenance. Provisions for landfill sites are calculated on the basis of the RINAS model and in conformity with this model calculated at a
discount rate of 4%. The accumulation of these provisions is realised in proportion to the disposal of waste per sector.
Of these provisions, an amount of € 8,248,000 relates to the period up to 2013, and an amount of € 12,318,000 relates to the period after 2013.
The provision is measured at the present value of estimated future expenditure. In this respect, account is taken of the current market and the
risks attached to the liability, in as far as the risks have not been taken into account already when determining the future cash flows.
The provision is calculated on the basis of the RINAS-model of the IPO (the umbrella organisation for the twelve provinces in the Netherlands).
Other provisions
The other provisions mainly relate to provisions for warranties and claims for damages.
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GRONTMIJ | ANNUAL REPORT 2008