Page 92 - Annual_Report_2016
P. 92
Financial Statements aia.gr
Analysis of inventories per category 2016 2015
Merchandise 672,509 744,042
Consumables 930,750 946,389
Spare parts 4,607,402 4,906,513
Inventory impairment (465,345) (672,911)
Total inventories 5,745,316 5,924,034
During 2016, an impairment release of €207,566 was recognized in the income statement in order to
decrease the accumulated provision for certain obsolete and slow moving items to €465,345.
5.13 Construction works in progress
Analysis of construction works in progress 2016 2015
Construction works in progress 5,175,040 3,283,701
Total construction works in progress 5,175,040 3,283,701
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.
5.14 Trade receivables 2016 2015
Trade receivable accounts are analysed as follows:
39,916,791 35,373,944
Analysis of trade receivable accounts 2,745,244 1,083,990
7,529,254 4,775,646
Domestic customers 2,890,938 976,149
Foreign customers (2,513,479)
Greek state & public sector 50,568,749 (2,693,058)
Accrued revenues 39,516,670
Provision for impairment of trade receivables
Total trade receivable accounts
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 2016 a provision release of €179,579 was recognized in the income statement, resulting in an
impairment provision as at 31 December 2016 of €2,513,479 (2015: €2,693,058).
5.15 Other receivables
Other receivable accounts are analysed as follows:
Analysis of other receivable accounts 2016 2015
Accrued ADF 9,804,466 15,963,073
Other 43,894,307 47,074,451
Total other receivable accounts 53,698,773 63,037,524
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
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Analysis of inventories per category 2016 2015
Merchandise 672,509 744,042
Consumables 930,750 946,389
Spare parts 4,607,402 4,906,513
Inventory impairment (465,345) (672,911)
Total inventories 5,745,316 5,924,034
During 2016, an impairment release of €207,566 was recognized in the income statement in order to
decrease the accumulated provision for certain obsolete and slow moving items to €465,345.
5.13 Construction works in progress
Analysis of construction works in progress 2016 2015
Construction works in progress 5,175,040 3,283,701
Total construction works in progress 5,175,040 3,283,701
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.
5.14 Trade receivables 2016 2015
Trade receivable accounts are analysed as follows:
39,916,791 35,373,944
Analysis of trade receivable accounts 2,745,244 1,083,990
7,529,254 4,775,646
Domestic customers 2,890,938 976,149
Foreign customers (2,513,479)
Greek state & public sector 50,568,749 (2,693,058)
Accrued revenues 39,516,670
Provision for impairment of trade receivables
Total trade receivable accounts
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 2016 a provision release of €179,579 was recognized in the income statement, resulting in an
impairment provision as at 31 December 2016 of €2,513,479 (2015: €2,693,058).
5.15 Other receivables
Other receivable accounts are analysed as follows:
Analysis of other receivable accounts 2016 2015
Accrued ADF 9,804,466 15,963,073
Other 43,894,307 47,074,451
Total other receivable accounts 53,698,773 63,037,524
Financial Statements as at 31 December 2016 (Amounts in Euros unless otherwise stated)
45 of 57
