Page 36 - Kitron Annual Report 2011

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Notes to the consolidated financial statements
36
Kitron annual report 2011
Carrying amount of the group’s loans in various currencies:
(Amounts in NOK 1000)
2011
2010
NOK
164 904
175 386
SEK
68 952
64 469
LTL
-
2 328
EURO
38 353
21 836
USD
4 791
14
CNY
21 755
-
Other
421
-
Total
299 176
264 033
The company’s financing agreements include covenants relating to such factors as the company’s equity and
earnings. The company complies with the covenants at 31 December 2011. Loans include NOK 299.2 million
(2010: 264.0 million) in secured commitments (bank loans and other secured loans).
Mortgages
(Amounts in NOK 1000)
2011
2010
Debt secured by mortgages
299 176
264 033
Carriying amount of assets provided as security:
(Amounts in NOK 1000)
2011
2010
Buildings and land
5 355
5 795
Machinery and equipment
81 902
70 490
Receivables
228 796
265 410
Inventory
327 838
247 988
Total
643 891
589 683
Debt secured by mortgages includes leasing liabilities for fixed assets treated for accounting purposes as finan-
cial leasing.The carrying amount of these fixed assets is included in the carrying amount of assets provided as
security. Of the mortgage debt in the consolidated accounts, the commitment related to leasing recognised in
the balance sheet amounted to NOK 48.7 million at 31 December 2011 (2010: NOK 48.1 million).
Conditions in the form of vendor’s fixed charge are moreover related to deliveries from Kitron’s suppliers of goods.
The group’s receivables recognised in the balance sheet are provided as security (factoring mortgage) for obli-
gations to DNB Finans.
The group’s main bankers and other guarantors had provided guarantees at 31 December for bank engage-
ment in Germany, leasing obligations and tax due but not paid. These totalled NOK 5.4 million, NOK 6.4 million
and NOK 13.5 million respectively for the group.