Page 86 - Annual Report 2015 EN
P. 86
Financial Statements
Analysis of inventories per category 2015 2014
Merchandise 744,042 599,347
Consumables 946,389 884,732
Spare parts 4,906,513 4,874,287
Inventory impairment (672,911) (662,018)
Total inventories 5,924,034 5,696,348
During 2015, a provision addition of €10,892 were recognized in the income statement in order to increase
the accumulated provision for certain obsolete and slow moving items to €672,911 which is their estimated
net realizable value.
5.12 Construction works in progress
Analysis of construction works in progress 2015 2014
Construction works in progress 3,283,701 1,924,748
Total construction works in progress 3,283,701 1,924,748
Construction works in progress mainly refer to additions and improvements on the existing infrastructure
assets such as technical works, building and facilities, roads etc. These assets will be returned to the Grantor
at the end of the Concession Period, together with all other infrastructure assets as described in note 1.
Upon the completion of the construction, such assets related to the infrastructure, will increase either the
cost of the concession intangible asset or the owned assets.
5.13 Trade receivables
Trade receivable accounts are analysed as follows:
Analysis of trade receivable accounts 2015 2014
Domestic customers 27,744,893 43,107,285
Foreign customers
Greek state & public sector 1,043,029 812,126
Accrued revenues 4,775,646 5,791,600
Provision for impairment of trade receivables 6,732,969
Other (2,693,058) 378,622
Total trade receivable accounts 2,292,698 (5,244,111)
39,896,176
2,218,615
47,064,138
All receivables are initially measured at their fair value, which is equivalent to their nominal value, since the
Company extends to its customers short-term credit. Should any of the trade receivable accounts exceed the
approved credit terms, the Company charges such customers default interest, (that is, interest on overdue
accounts) at 6 months Euribor interest rate plus a pre-determined margin, as stipulated in the respective
customer agreements. Such interest is only recognised when it is probable that the income will be collected.
During 2015 a provision release of €2,551,052 was recognized in the income statement, resulting in an
impairment provision as at 31 December 2015 of €2,693,058 (2014: €5,244,111).
5.14 Other receivables
Other receivable accounts are analysed as follows:
Analysis of other receivable accounts 2015 2014
Accrued ADF 15,963,073 8,335,967
Other 46,694,946 59,839,664
Total other receivable accounts 62,658,019 68,175,631
Financial Statements as at 31 December 2015 (Amounts in Euros unless otherwise stated)
43 of 56
Analysis of inventories per category 2015 2014
Merchandise 744,042 599,347
Consumables 946,389 884,732
Spare parts 4,906,513 4,874,287
Inventory impairment (672,911) (662,018)
Total inventories 5,924,034 5,696,348
During 2015, a provision addition of €10,892 were recognized in the income statement in order to increase
the accumulated provision for certain obsolete and slow moving items to €672,911 which is their estimated
net realizable value.
5.12 Construction works in progress
Analysis of construction works in progress 2015 2014
Construction works in progress 3,283,701 1,924,748
Total construction works in progress 3,283,701 1,924,748
Construction works in progress mainly refer to additions and improvements on the existing infrastructure
assets such as technical works, building and facilities, roads etc. These assets will be returned to the Grantor
at the end of the Concession Period, together with all other infrastructure assets as described in note 1.
Upon the completion of the construction, such assets related to the infrastructure, will increase either the
cost of the concession intangible asset or the owned assets.
5.13 Trade receivables
Trade receivable accounts are analysed as follows:
Analysis of trade receivable accounts 2015 2014
Domestic customers 27,744,893 43,107,285
Foreign customers
Greek state & public sector 1,043,029 812,126
Accrued revenues 4,775,646 5,791,600
Provision for impairment of trade receivables 6,732,969
Other (2,693,058) 378,622
Total trade receivable accounts 2,292,698 (5,244,111)
39,896,176
2,218,615
47,064,138
All receivables are initially measured at their fair value, which is equivalent to their nominal value, since the
Company extends to its customers short-term credit. Should any of the trade receivable accounts exceed the
approved credit terms, the Company charges such customers default interest, (that is, interest on overdue
accounts) at 6 months Euribor interest rate plus a pre-determined margin, as stipulated in the respective
customer agreements. Such interest is only recognised when it is probable that the income will be collected.
During 2015 a provision release of €2,551,052 was recognized in the income statement, resulting in an
impairment provision as at 31 December 2015 of €2,693,058 (2014: €5,244,111).
5.14 Other receivables
Other receivable accounts are analysed as follows:
Analysis of other receivable accounts 2015 2014
Accrued ADF 15,963,073 8,335,967
Other 46,694,946 59,839,664
Total other receivable accounts 62,658,019 68,175,631
Financial Statements as at 31 December 2015 (Amounts in Euros unless otherwise stated)
43 of 56
