AT&S World

The bonds, export loans, loans from state authorities and bank
borrowings in part carry interest rates that differ from market
interest rates. For this reason differences between their fair values
and carrying amounts can arise.
The determination of the fair values is based on the current effective
interest rates on loans and bonds with similar maturities
that would be available to the Group.
The carrying amounts of financial liabilities according to currencies
are as follows:
Bank borrowings are secured as follows:
By inventories and trade receivables amounting to TEUR 36,040
(at 31 March 2010: TEUR 36,087). Reference is made to Note
11 “Inventories” and Note 12 “Trade and other receivables”;
By assignment of rights from the hedge against political
risk for the location in China amounting to TEUR 0 at
31 March 2011 (at 31 March 2010: TEUR 14,000), as well
as for the site in South Korea amounting to TEUR 3,139 (at
31 March 2010: TEUR 3,139).
Carrying amounts
31 March
Consolidated Financial Statements as of 31 March 2011
Fair values
31 March
(in EUR 1,000) 2011 2010 2011 2010
Bonds 83,514 83,418 83,083 89,029
Export loans 36,000 36,000 36,000 36,000
Loans from state authorities 403 430 398 433
Other bank borrowings 92,015 54,019 92,996 55,789
Derivative financial instruments 54 1,785 54 1,785
211,986 175,652 212,531 183,036
31 March
(in EUR 1,000) 2011 2010
Euro 197,328 174,473
US dollar 8,576 399
Chinese renminbi yuan 5,368 366
Indian rupee 714 414
211,986 175,652
Lines of credit of financing liabilities, including bonds, are as
follows at 31 March 2011:
(in EUR 1,000)
Export credit lines -
Credit lines Used
committed
Other credit lines -
36,000 36,000
committed
Credit lines -
243,650 155,258
uncommitted 32,843 20,674
312,493 211,932
Leases
Total future minimum lease payments recognised in from noncancellable
operating leases and rental expenses are as follows:
31 March
(in EUR 1,000) 2011 2010
Not later than 1 year 2,939 3,078
Between 1 and 5 years 7,664 7,796
Later than 5 years 8,437 11,236
Total minimum lease payments 19,040 22,110
The Group entered into various operating lease agreements for
the rental of office space, properties and production facilities, as
well as factory and office equipment and technical equipment.
The obligations from operating leases are affected by a sale and
lease back transaction concluded in the financial year 2006/07 for
the properties and buildings in Leoben-Hinterberg and Fehring,
Austria, with non-cancellable lease period until December 2021.
The stated amounts also include TEUR 9,484 at 31 March 2011
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