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Hamon Annual Report 2012
26. Inventories
in EUR ‘000’ 31/12/12 31/12/11 31/12/10
Raw materials & consumables 9 447 8 899 5 820
Inventories and WIP - not related to construction contracts 2 249 1 903 3 036
Finished goods 4 199 4 204 5 325
Total 15 895 15 006 14 181
As of 31 December 2012, write-offs accounted for
on inventories amounted to EUR 1.063 thousand
(respectively EUR 1.016 thousand and EUR 1.020
thousand as of 31 December 2011 and 2010).
The net book value of the pledged inventories amounted
to EUR 924 thousand, EUR 603 thousand and EUR
310 thousand for the three last periods.
27. Construction contracts
in EUR ‘000’ 31/12/12 31/12/11 31/12/10
Contract costs incurred and recognised profits 652 884 549 873 294 924
Progress billings (674 538 ) (556 925 ) (319 859 )
Total (21 654 ) (7 052 ) (24 935 )
Amount due from customers for contract work 83 831 64 566 33 247
Amount due to customers for contract work (105 485) (71 618 ) (58 182 )
Total (21 654) (7 052 ) (24 935 )
Contracts in progress, i.e. those for which the guarantee
period has not yet started, are maintained in the
balance sheet. The variation of both costs incurred and
advances billed to customers, is thus linked to the
timing of acceptance of orders by our customers rather
than the growth of our activities.
Retentions held by our customers on progress billings
and which, in conformity with contractual conditions, will
be paid to Hamon on the final acceptance of considered
projects, stood at EUR 5.919 thousand as of 31
December 2012 (respectively EUR 5.715 thousand and
EUR 4.212 thousand on 31 December 2011 and 2010).