Property, plant and equipment

Property, plant and equipment

The caption "Property, plant and equipment" does not include PPE assigned to infrastructure projects, which are carried in the caption "Investments in infrastructure projects".

Movements in Property, plant and equipment in the consolidated balance sheet during 2007 are as follows:

 Movements in Property, plant and equipment in the consolidated balance sheet during 2007

Scope changes and transfers

  • During 2007 the main transfers relate to the Services Division, Plant items totalling 118 million euro having been reclassified in Swissport, and to the Cespa Group, which has reclassified Other fixtures in the amount of 63 million euro.

Additions

  • As in the previous year, construction segment additions relate basically to the acquisition of specific site machinery by Ferrovial Agromán.
  • In the toll roads and car parks segment, additions are due basically to the capitalisation of new off-street car parks and the acquisition of machinery for on-street car parks.
  • In the services segment, additions relate to investments in waste treatment, landfills and machinery for the provision of municipal services.

Disposals

  • Disposals arise basically in the toll road and car park segment, comprising the write-off of fully-depreciated assets and the expiration of ORA and off-street car park contracts. Construction segment disposals relate to obsolete site machinery.

  Movements in Property, plant and equipment in the consolidated balance sheet during 2006

  • At 31 December 2007, property, plant and equipment include structures/facilities/machinery totalling 15.9 million euro acquired under finance leases (9.7 million euro at 31 December 2006).

  • Property, plant and equipment not used in operations is insignificant with respect to closing consolidated balances.

  • No impairment losses or reversals were recorded in 2007.

  • The Group has taken out insurance to cover possible risks affecting its property, plant and equipment and possible claims that could be brought in the normal course of business. The Group considers that the insurance policies provide adequate coverage for such risks. 

  • PPE in course of construction amounts to 56.6 million euro (22.6 million euro in 2006). This increase is due basically to the plant and machinery being assembled by the Cespa Group in the Services segment.

  • At 31 December 2007, no significant property, plant and equipment are subject to ownership restrictions or pledged to secure liabilities.