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15.Property, plant, equipment and projects under constructions
Property, plant, equipments and projects under construction (Net)
Note
31 December
2017
31 December
2016
Property, plant, equipments and projects under construction (Net)
7 134 774
5 667 633
Deduct:-
Amounts under settlement of financial lease contracts
(28)
1 532 148
768 694
5 602 626
4 898 939
Lands &
buildings
Machinery
&
equipments
Vehicles ITinfra-
structures
&computers
Fixtures &
furniture
Leasehold
improve-
ments
Projectsunder
construction*
Total
Cost
Cost at 1 January 2016
2 360 254
729 137
787 823
124 947
204 069
19 365
289 231
4 514 826
Reclassification
-
(188)
-
-
188
-
-
-
Additions during the year
1 070 022
144 967
229 071
14 468
19 606
2 193
201 302
1 681 629
Transferred fromprojects under construction to PP&E and intan-
gible assets
195 053
49 376
-
1 048
26 774
-
(274 497)
(2 246)
Reclassification fromassets held for sale
314 759
-
-
-
-
-
-
314 759
Disposals during the year
(210 852)
(28 808) (117 800)
(133)
(10 993)
-
-
(368 586)
Effect of cost modification usingmodification factor
-
355 861
82 401
57 643
120 330
-
32 538
648 773
Effect of movements of exchange rates
236 772
24 088
16 875
4 945
56 483
3 104
4 302
346 569
Balance at 31December 2016
3 966 008
1 274 433
998 370
202 918
416 457
24 662
252 876
7 135 724
Cost at 1 Januaray 2017
3 966 008
1 274 433
998 370
202 918
416 457
24 662
252 876
7 135 724
Reclassification
(529)
4 303
-
160
(405)
(3 529)
-
-
Additionsduring theyear
1 384 350
326 196
331 876
15 043
47 278
3 416
374 462
2 482 621
Transferred fromprojectsunder construction toPP&Eand intangible
assets
(6527)
2 986
-
409
45 078
4 485
(82 113)
(22 628)
Disposals during the year
(374 221)
(58 994) (158 402)
(7 666)
(7 680)
-
-
(606 963)
Effect of cost modification usingmodification factor
-
(88 641)
(13 074)
(1 713)
(4 599)
-
(405)
(108 432)
Effect of movements of exchange rates
(20 937)
(1 356)
(922)
(197)
(1 837)
4
-
(25 245)
Balance at 31December 2017
4 961 198
1 458 927 1 157 848
208 954
494 292
29 038
544 820
8 855 077
Accumulated depreciation and impairment losses
Accumulated depreciation at 1 Januaray 2016
137 890
262 408
271 912
67 941
102 115
12 071
133
854 470
Depreciation during the year
48 847
69 395
149 171
20 791
26 559
3 170
-
317 933
Reclassification fromassets held for sale
1 615
-
-
-
-
-
-
1 615
Disposals during the year
(3 755)
(12 899)
(74 044)
(95)
(5 425)
-
-
(96 218)
Effect of accumulated depreciationmodification usingmodification
factor
-
164 986
56 359
42 104
67 074
-
-
330 523
Impairment during the year
-
-
-
-
-
-
2 788
2 788
Effect of movements of exchange rates
13 420
5 401
7 142
3 870
23 410
842
2 895
56 980
Accumulated depreciation at 31December 2016
198 017
489 291
410 540
134 611
213 733
16 083
5 816
1 468 091
Accumulated depreciation at 1 Januaray 2017
198 017
489 291
410 540
134 611
213 733
16 083
5 816
1 468 091
Reclassification
-
1 066
-
41
(769)
(338)
-
-
Depreciation during the period
59 714
113 145
176 922
30 810
41 164
3 262
-
425 017
Disposalsduring theperiod
(6 382)
(13 483)
(99 870)
(6 385)
(4 933)
-
-
(131 053)
Effect of accumulated depreciationmodification usingmodification
factor
-
(22 286)
(10 736)
(1 710)
(4 095)
-
-
(38 827)
Effect of movements of exchange rates
(1 040)
(275)
(496)
(173)
(837)
(104)
-
(2 925)
Accumulated depreciation at 31December 2017
250 309
567 458
476 360
157 194
244 263
18 903
5 816
1 720 303
Net carring Amount
At 1 January 2016
2 222 364
466 729
515 911
57 006
101 954
7 294
289 098
3 660 356
At 31December 2016
3 767 991
785 142
587 830
68 307
202 724
8 579
247 060
5 667 633
At 31December 2017
4 710 889
891 469
681 488
51 760
250 029
10 135
539 004
7 134 774
* Projects under construction represented in the cost of buildings, factories expansions and showrooms, which are being prepared and fixed for the group use
82 • 2017 ANNUAL REPORT
2017 ANNUAL REPORT • 83
GB Auto (S.A.E.)
Notes to the consolidated financial statements for the financial year ended December 31, 2017
(In the notes all amounts are shown in Thousand Egyptian Pounds unless otherwise stated)