Annual report 2008 - Altarea Cogedim

n Change in allowances for impairment of inventories and work in progress
(in € thousand)
Shopping
centres
Property developments
for third parties
Total
AT 1 January 2007 (0) – (0)
Allowance 0 (105) (105)
Reversal – 235 235
Reclassification – (1,290) (1,290)
At 31 december 2007 (1) (1,160) (1,160)
Allowance (2,137) (6,155) (8,292)
Reversal – 596 596
Reclassification -– 66 66
At 31 december 2008 (2,137) (6,652) (8,789)
n Change in inventories and work in progress, net
(in € thousand)
Shopping
centres
Property developments
for third parties
Net value at 1 January 2007 3,989 24,390 28,379
Net value at 31 december 2007 46,637 479,304 525,941
Net value at 31 december 2008 6,768 389,452 396,220
The reduction in net inventories reflects the business slowdown and the halt called to certain developments during the final
quarter of 2008.
n Breakdown of net inventories by stage of completion at 31 December 2008
“New transactions” correspond to programmes identified for which land has not been acquired.
The “transactions at land stage” correspond to programmes for which land has been acquired but construction work has not
yet begun.
The “transactions in progress” correspond to programmes for which land has been acquired and construction work has begun.
The “completed transactions” correspond to programmes for which construction work has finished.
The “dealer transactions” correspond to properties acquired for resale as they are.
(in € thousand)
Shopping
centres
Property developments
for third parties
New transactions 12,021 12,021
Transactions at land stage 51,320 51,320
Transactions in progress 4,566 294,355 298,921
Completed transactions 9,303 9,303
Dealer transactions and interior work 2,202 22,453 24,655
Total 6,768 389,452 396,220
Total
Total
131