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FINANCIAL STATEMENTS
4.12 Other non-current assets 2009 2008
Other non-current assets are analysed as follows: 3.245.439 0
Analysis of other non-current assets 0 1.450.783
Investment in associates 160.314 149.628
Available for sale financial asset 3.405.753
Long term guarantees 1.600.411
Total other non current assets
The Company increased its equity interest in”Athens Airport Fuel Pipeline” to 34% in 2009. This investment was reclassified
from “available for sale financial asset” to “investment in associates”.
Long-term guarantees relate to guarantees given to lessors for operating lease contracts, and were measured at their present
value, by discounting future cash flow transactions with the weighted average borrowing rate of the Company.
4.13 Inventories 2009 2008
Inventory items are analysed as follows: 611.062 557.638
800.556 771.103
Analysis of inventories per category 4.819.300 4.905.192
Merchandise (724.788) (519.531)
Consumables 5.506.130 5.714.402
Spare parts
Inventory impairment
Total inventories
Inventories consist of merchandise, consumables and spare parts and have been valued at the lower of cost and net
realizable value. Cost is determined by using the weighted average method, which has been consistently applied since the
establishment of the Company. During 2009, an addition of €205.257 was recognized in the income statement in order
to increase the accumulated provision for certain obsolete and slow moving items to €724.788 which is their estimated
net realizable value.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 54 OF 69
4.12 Other non-current assets 2009 2008
Other non-current assets are analysed as follows: 3.245.439 0
Analysis of other non-current assets 0 1.450.783
Investment in associates 160.314 149.628
Available for sale financial asset 3.405.753
Long term guarantees 1.600.411
Total other non current assets
The Company increased its equity interest in”Athens Airport Fuel Pipeline” to 34% in 2009. This investment was reclassified
from “available for sale financial asset” to “investment in associates”.
Long-term guarantees relate to guarantees given to lessors for operating lease contracts, and were measured at their present
value, by discounting future cash flow transactions with the weighted average borrowing rate of the Company.
4.13 Inventories 2009 2008
Inventory items are analysed as follows: 611.062 557.638
800.556 771.103
Analysis of inventories per category 4.819.300 4.905.192
Merchandise (724.788) (519.531)
Consumables 5.506.130 5.714.402
Spare parts
Inventory impairment
Total inventories
Inventories consist of merchandise, consumables and spare parts and have been valued at the lower of cost and net
realizable value. Cost is determined by using the weighted average method, which has been consistently applied since the
establishment of the Company. During 2009, an addition of €205.257 was recognized in the income statement in order
to increase the accumulated provision for certain obsolete and slow moving items to €724.788 which is their estimated
net realizable value.
Financial Statements as at 31 December 2009 (Amounts in Euros unless otherwise stated) PAGE 54 OF 69
