Technologies · Systems · Solutions - Dürr

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19. Investments in associates
20. Inventories and
prepayments
The following table shows the acquisition cost and accumulated depreciation for these buildings
reported under property, plant and equipment.
Amounts in €k
In the 2003 reporting period, a contract was concluded that provides for the division of the
former operating site of the Dürr Group in Darmstadt-Arheilgen in two phases. According to the
contract, in phase I the buyer takes over the plots in exchange for payment of a purchase
price and the development of the whole site and receives an option on the plots of phase II to
be exercised by March 31, 2005. If the buyer does not make use of the purchase option for
the phase II plots in 2005, Dürr will receive all the development work performed by the buyer for
these plots free of charge so that Dürr will then be in possession of fully developed building
land. The Company recognized the claim to development work (e.g. sewer works) under other
assets.
Details regarding the changes in the investments in associates are presented in the analysis of
non-current assets in the Group in note 37.
Investments in associates contain goodwill of € 5,760 thousand (2003: € 5,760 thousand).
At three (2003: three) associates, local accounting principles were applied instead of IFRS accounting
and measurement principles as an adjustment to IFRS principles was not possible without
incurring unreasonable expense. The application of IFRS accounting and measurement principles
would not have had a material effect on the net assets, financial situation and results of operations
of the Group.
Inventories and prepayments break down as follows:
Dec. 31, 2004 Dec. 31, 2003
Historical acquisition cost 19,554 19,582
Accumulated depreciation –8,677 –7,772
Net carrying value 10,877 11,810
Amounts in €k
Dec. 31, 2004 Dec. 31, 2003
Raw materials, consumables and supplies 47,307 48,840
Work in process from non-contract production 4,186 14,194
Finished goods 8,234 6,993
Prepayments 8,637 19,789
Valuation allowances –10,503 –23,571
57,861 66,245
Raw materials, consumables and supplies of € 31,740 thousand (2003: € 30,532 thousand) were
measured at average cost and € 7,096 thousand (2003: € 7,656 thousand) using the FIFO method
(first in, first out).