Download - Salzgitter AG

(24) Trade Receivables
in T€ 31/12/2007 31/12/2006
Receivables from third parties 1,480,061 1,061,062
Receivables from affiliated companies
Receivables from companies in which the company
21,146 14,359
has a participating interest 19,837 32,839
Trade receivables 1,521,044 1,108,260
Impairments on trade receivables amounting to € 15.1 million (2006: € 5.7 million) have been carried
out for all discernible individual risks, the credit risk assessed on the basis of empirical values and
specific country risks.
Restrictions on the ownership or disposal of trade receivables amount to € 109.6 million (2006:
134.5 million). These are accounted for exclusively by the forfaiting of receivables and an asset-backed
securitization program. For further details, please refer to Note 39, “Other Liabilities”.
The trade receivables include the following receivables from construction contracts recognized using
the percentage-of-completion method.
in T€
Production costs including result from
31/12/2007 31/12/2006
construction contracts 657,244 –
Payments received on account –499,936 –
Receivables from construction contracts 157,308 –
Receivables from construction contracts include customized production contracts with an asset-side
balance whose production costs, taking account of profit shares and loss-free valuation, exceed the
payments received on account.