Technologies · Systems · Solutions - Dürr

21.Trade receivables
Consolidated financial statements of Dürr AG
Trade receivables are comprised of the following:
The majority of Group receivables are due from automobile manufacturers. Generally these
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December 31, 2004 December 31, 2003
Amounts in €k Total Current Non-current Total Current Non-current
Cost and estimated earnings
in excess of billings
Trade
220,258 220,258 – 248,448 248,448 –
receivables
Trade receivables
401,742 400,123 1,619 429,726 429,260 466
from associates 7,820 7,820 – 4,127 4,127 –
629,820 628,201 1,619 682,301 681,835 466
receivables are not secured by collateral or bank guarantees. The receivables for the 2004 report-
ing period are reported net of valuation allowances for doubtful debts of € 12,902 thousand
(2003: € 9,637 thousand). As of December 31, 2004, 52.9% (2003: 56.0%) of the trade receivables
were due from six (2003: six) customers.
The following table provides a summary of the cost and estimated earnings in excess of billings
on uncompleted contracts:
December 31, 2004 December 31, 2003
Amounts in €k Total Current Non-current Total Current Non-current
Cost and estimated earnings 543,063 543,063 – 576,421 576,421 –
Less billings –541,553 –541,204 –349 –680,892 –673,257 –7,635
1,510 1,859 –349 –104,471 –96,836 –7,635
These amounts are offset on a project-by-project basis and are included in either receivables or
liabilities (see note 28).
December 31, 2004 December 31, 2003
Amounts in €k Total Current Non-current Total Current Non-current
Cost and estimated earnings in
excess of billings
Billings in excess of cost
220,258 220,258 – 248,448 248,448 –
and estimated earnings –218,748 –218,399 –349 –352,919 –345,284 –7,635
1,510 1,859 –349 –104,471 –96,836 –7,635