3. Property, plant and equipment

The composition of and changes in property, plant and equipment are described and commented on in the following table.

Property, plant and equipment
(€ 000) 		Land Business buildings Plant and equipment Other tangible assets Total
Cost at 01/01/2009 1,114 16,524 21,771 43,868 83,277
Investments - 112 374 1,024 1,510
Disposals - - (19) (1,179) (1,198)
Other changes - -
34 34
Cost at 31/12/2009 1,114 16,636 22,126 43,747 83,623
Accumulated depreciation and impairment losses at 01/01/2009 - 8,304 15,087 39,595 62,986
Depreciation - 573 1,541 1,844 3,958
Writedowns/reinstatement of value - - - - 0
Disposals - - (18) (1,132) (1,150)
Other changes - - - - 0
Accumulated depreciation and impairment losses at 31/12/2009 0 8,877 16,610 40,307 65,794
Net book value at 01/01/2009 1,114 8,220 6,684 4,273 20,291
Net book value at 31/12/2009 1,114 7,759 5,516 3,440 17,829
Property, plant and equipment
(€ 000) 		Land Business buildings Plant and equipment Other tangible assets Total
Cost at 01/01/2010 1,114 16,636 22,126 43,747 83,623
Investments - 16 651 2,081 2,748
Disposals - - - (490) (490)
Other changes - - - - 0
Cost at 31/12/2010 1,114 16,652 22,777 45,338 85,881
Accumulated depreciation and impairment losses at 01/01/2010 - 8,877 16,610 40,307 65,794
Depreciation - 571 1,402 1,591 3,564
Writedowns/reinstatement of value - - - - 0
Disposals - - - (466) (466)
Other changes - - - - 0
Accumulated depreciation and impairment losses at 31/12/2010 0 9,448 18,012 41,432 68,892
Net book value at 01/01/2010 1,114 7,759 5,516 3,440 17,829
Net book value at 31/12/2010 1,114 7,204 4,765 3,906 16,989

Other tangible fixed assets consist of the following:

Other intangible fixed assets

(€ 000) 31/12/2010 31/12/2009
Industrial and commercial equipment 227 248
Electronic office machines 1,746 1,316
Furniture and fixtures 1,026 1,120
Motor vehicles and transport vehicles 218 516
Leasehold improvements 46 45
Assets under construction and advances 643 195
Total other tangible fixed assets 3,906 3,440

Investments during the year refer to:

  • the updating of technology in the book and magazine offices;
  • the updating of data processing systems (personal computers and local networks) and the purchase of plant and machinery.

Investments during the year, including other tangible fixed assets, of €2,748 thousand, €643 thousand of which was for assets that had not entered into use at 31 December 2010, refer to:

  • the Verona factory (Publishing Warehouse plant/Magazine Distribution and buildings) €352 thousand
  • the Milan head office (office automation, furniture/fixtures and plant) €2,396 thousand

Disposals, including those relating to “Other Tangible fixed Assets”, for a total of €490 thousand, mainly relate to the disposal of office equipment (furniture, fixtures and electronic machinery) and vehicles.

Depreciation of property, plant and equipment

The depreciation charge for the year, recognised as “Depreciation and impairment of property, plant and equipment”, and was made up as follows:

Depreciation of property, plant and equipment

(€ 000) 2010 2009
Business buildings 571 573
Plant and machinery 1,402 1,541
Equipment 156 176
Electronic office machines 893 1,019
Furniture and fixtures 248 273
Motor vehicles and transport vehicles 284 366
Leasehold improvements 10 10
Total depreciation of property, plant and equipment 3,564 3,958

No provisions were necessary during 2010.

There is no restriction on the availability or use of property, plant and equipment recognised in the financial statements.

Download center
Tools