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Annual Report Financial FY 2015

96 AUSTRIAN POST  ANNUAL REPORT 2015 corporate governance report MANAGEMENT REPORT service consolidated FINANCIAL STATEMENts notes 2015 financial year EUR m Note Property and buildings Technical plant and machinery Other equipment, furniture and fittings Payments received in advance and assets under construction Total Depreciation and impairment losses Balance at January 1, 2015 327.1 89.8 191.3 0.0 608.2 Additions (8.5) 42.4 14.9 55.6 0.5 113.5 Disposals 5.9 14.9 29.3 0.0 50.0 Reclassification as investment property (9.4) –6.4 0.0 0.0 0.0 –6.4 Reclassification to held for sale (9.10) –28.9 –12.8 –45.5 –0.5 –87.7 Balance at December 31, 2015 328.4 77.1 172.1 0.0 577.6 Carrying amount at January 1, 2015 363.7 71.3 151.2 11.6 597.7 Carrying amount at December 31, 2015 322.8 64.3 146.1 38.7 571.9 No external borrowing costs were capitalised in the 2015 financial year as in the previous year. Of the additions to payments received in advance and assets under construction of EUR 31.6m, a total of EUR 21.9m is for assets under construction relating to the new corporate headquarters of Austrian Post. Property, plant and equipment used as collateral amounted to EUR 1.3m at the end of 2015 (December 31, 2014: EUR 23.1m). The decline can be mainly attributed to the premature termination of a cross-border transaction in the 2015 financial year. Information relating to the reclassification of assets held for sale and liabilities classified as held for sale pursuant to IFRS 5 is provided under Note 9.10 Assets and liabilities held for sale. Cross Border Lease In the 2002 business year, Austrian Post completed a cross-border lease transaction with an American investor. Austrian Post granted this investor a 99 year right of use of the mail sorting facilities in Vienna, Graz, Salzburg and Innsbruck, in return for a grant payment of USD 117m. At the same time, a lease agreement was concluded, in which the right of use of these facilities was leased back to the company for a period of 24 years. Austrian Post assigned its obligation to pay the lease instalments to two payment undertakers. For this purpose, Austrian Post made payments to the payment undertakers (USD 108.3m) and derecognised the corresponding liabilities. For their part, the payment undertakers were committed to pay the corresponding amounts at the agreed upon dates on behalf of Austrian Post. Austrian Post was faced with the residual risk of a claim in the event of the insolvency of the payment undertakers. Austrian Post prematurely terminated the cross-border leasing transaction effective March 10, 2015. The outstanding payments were made by the payment undertaker, in which case the residual risk was eliminated. At the same time, the right of use was terminated. The full amount of the present value benefit resulting from the cross-border leasing transaction of Austrian Post was maintained. The remaining amount of EUR 3.3m recognised as of March 10, 2015 under deferred income was correspondingly recognised in the income statement as financial income. Balance at January 1, 2015327.189.8191.30.0608.2 Additions (8.5) 42.414.955.60.5113.5 Disposals 5.914.929.30.050.0 property (9.4) – –6.4 Balance at December 31, 2015328.477.1172.10.0577.6 January 1, 2015363.771.3151.211.6597.7 December 31, 2015322.864.3146.138.7571.9

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