Annual Report 2009 - Von Roll

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Financial Reporting 2009 – Consolidated Financial Statements 6921.| Investment propertyin CHF 1,000CostBalance at 1 January 2008 39,159Disposals – 946Reclassifications 211Balance at 31 December 2008 38,424Balance at 1 January 2009 38,424Reclassifications 198Balance at 31 December 2009 38,622Accumulated depreciationBalance at 1 January 2008 – 33,371Depreciation (Note 9) – 112Reclassifications – 52Balance at 31 December 2008 – 33,534Balance at 1 January 2009 – 33,534Depreciation (Note 9) – 143Reclassifications – 43Balance at 31 December 2009 – 33,720Net carrying amounts at 31 December 2008 4,890Net carrying amounts at 31 December 2009 4,902Total fair values of investment property amount to TCHF 23,401 (2008: TCHF 18,595) before tax. Fair values for buildingshave been determined using the discounted cash flow model, applying discount rates on rental revenuesranging from 5.5 % to 9.5 %. Fair values for unimproved land (held for capital appreciation) have been determined onthe basis of current prices on active markets. Fair values are periodically determined by independent and qualifiedexperts. The latest valuations were performed in December 2009.
70 Financial Reporting 2009 – Consolidated Financial Statements22.| Financial assetsin CHF 1,000Balance at 1 January 2008 1,833Additions 839Disposals/repayments – 213Value adjustments 23Changes in consolidation scope 360Translation effects – 409Other changes – 45Balance at 31 December 2008 2,388Of which short-term –Of which long-term 2,388Balance at 1 January 2009 2,388Additions 1,428Disposals/repayments – 439Translation effects 264Balance at 31 December 2009 3,641Of which short-term 170Of which long-term 3,471The short-term financial assets contain derivative financial instruments. The long-term financial assets include variousloans. A 20 % holding in Transalpina GmbH, Vienna is also included in financial assets. This is not shown separatelyin the balance sheet as it is considered immaterial. In 2009 and 2008, no earnings were received from TransalpinaGmbH as an associated company.Valuations at fair value recognised in the balance sheetFinancial instruments valued at fair value when first included are allocated to hierarchical levels 1 to 3 according tothe observability of valuation bases.» Level 1 Valuations at fair value are based on quoted prices (unadjusted) in an active market for identical assetsand liabilities.» Level 2 Valuations at fair value are based on data other than the prices quoted in level 1. The factors used for thevaluation are observable either directly (e.g. as prices) or indirectly (e.g. derived from prices).» Level 3 Valuations at fair value are based on valuation methods using parameters for assets and liabilities thatare based upon non-observable market data (unobservable inputs).The derivative financial instruments are the only financial assets held in the Von Roll Group that are valued at fairvalue. In the fair value hierarchy within the meaning of IFRS 7 they are to be allocated to Level 2.
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09Annual ReportWe Enable Energy
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Share of total salesNet sales by re
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2 Letter to shareholdersDear Shareh
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4 StrategyRefocussing of the strate
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6 StrategyPortfolio optimisation an
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8 Executive ManagementThe Executive
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10 Business developmentFor financia
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12 Business developmentVon Roll Com
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SEGMENTSAPPLICATIONGeneratorsRotati
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MARKETSPower stations (gas, coal, w
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16 Description of segmentsVon Roll
Page 23 and 24: 18 Description of segmentsVon Roll
Page 25 and 26: 20 Description of segmentsVon Roll
Page 27 and 28: 22 Global presenceGlobal presenceMo
Page 29 and 30: 24 The Von Roll shareThe Von Roll s
Page 31 and 32: 26 Corporate Governance1.1.31.21.3|
Page 33 and 34: 28 Corporate GovernanceGuido EgliVi
Page 35 and 36: 30 Corporate Governance3.23.33.43.4
Page 37 and 38: 32 Corporate Governance4. | Executi
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Page 106 and 107: Glossary 101Quality assuranceIn tod
Page 108 and 109: Our product portfolioVon Roll is th
Page 110 and 111: Business addressVon Roll Holding AG
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Annual Report 2009 - Von Roll

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