Annual Report 2018
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6. Property, plant and equipment
| in thousand EUR | Forest and land |
Forest roads |
Buildings and improve- ments |
Machinery and vehicles |
Leased machinery and vehicles |
Furniture and fixtures |
Construction in progress |
Advanced payments for PPE |
Total |
|||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cost | ||||||||||||||||||
| At 1 January 2017 | 15 653 | 12 084 | 20 691 | 27 710 | 3 231 | 2 184 | 551 | 3 346 | 85 451 | |||||||||
| Additions | –3 | –1 | 351 | 1 230 | 1 198 | 78 | 1 098 | – | 3 951 | |||||||||
| Disposals | – | – | – | –313 | – | –25 | – | – | –338 | |||||||||
| Reclassifications | – | – | –205 | 2 222 | –844 | 68 | –1 241 | – | – | |||||||||
| Currency effects | –860 | –662 | –301 | –966 | 6 | –51 | –18 | –457 | –3 309 | |||||||||
| At 31 December 2017 | 14 790 | 11 421 | 20 536 | 29 883 | 3 591 | 2 254 | 390 | 2 889 | 85 755 | |||||||||
| Additions | – | 374 | 275 | 1 272 | 1 082 | 182 | 1 833 | – | 5 018 | |||||||||
| Disposals | – | – | – | –1 010 | – | –218 | – | – | –1 228 | |||||||||
| Reclassifications | 4 | 124 | 405 | 247 | 105 | – | –881 | –4 | – | |||||||||
| Currency effects | –590 | –471 | –230 | –709 | – | –26 | –12 | –307 | –2 345 | |||||||||
| At 31 December 2018 | 14 204 | 11 448 | 20 986 | 29 683 | 4 778 | 2 192 | 1 330 | 2 578 | 87 199 | |||||||||
| Accumulated depreciation | ||||||||||||||||||
| At 1 January 2017 | – | 5 623 | 13 701 | 25 358 | 1 451 | 1 616 | – | 1 386 | 49 135 | |||||||||
| Charge for the year | – | 362 | 1 386 | 1 199 | 1 065 | 147 | – | – | 4 159 | |||||||||
| Reversal of impairment | – | –18 | – | – | – | – | – | – | –18 | |||||||||
| Elimination on disposals | – | – | – | –313 | – | –25 | – | – | –338 | |||||||||
| Reclassifications | – | – | –14 | 901 | –901 | 14 | – | – | – | |||||||||
| Currency effects | – | –273 | –185 | –844 | 3 | –45 | – | –190 | –1 534 | |||||||||
| At 31 December 2017 | – | 5 694 | 14 888 | 26 301 | 1 618 | 1 707 | – | 1 196 | 51 404 | |||||||||
| Charge for the year | – | 311 | 715 | 1 138 | 584 | 172 | – | – | 2 920 | |||||||||
| Reversal of impairment | – | –15 | – | – | – | – | – | –4 | –19 | |||||||||
| Elimination on disposals | – | – | – | –1 010 | – | –218 | – | – | –1 228 | |||||||||
| Reclassifications | – | – | – | –17 | 17 | – | – | – | – | |||||||||
| Currency effects | – | –199 | –146 | –601 | – | –23 | – | –126 | –1 095 | |||||||||
| At 31 December 2018 | – | 5 791 | 15 457 | 25 811 | 2 219 | 1 638 | – | 1 066 | 51 982 | |||||||||
| Carrying amount | ||||||||||||||||||
| At 31 December 2017 | 14 790 | 5 727 | 5 648 | 3 582 | 1 973 | 547 | 390 | 1 693 | 34 351 | |||||||||
| At 31 December 2018 | 14 204 | 5 657 | 5 529 | 3 872 | 2 559 | 554 | 1 330 | 1 511 | 35 217 | |||||||||
For certain land acquired by Precious Woods in Brazil, the land title registration is not yet finalized. These transactions are disclosed as advanced payments for property, plant and equipment. For advanced payments for land titles with a certain risk of losing the land, an allowance is recorded based on Management’s estimate of the outcome. This required an estimate of the probability to be able to prove the ownership of the land.
Based on the continued efforts to clean the land titles from legal issues, Precious Woods was able to reclassify in 2018 advanced payments for property, plant and equipment to land in the amount of EUR 3 535 (2017: EUR 0).