78
8.- PROPERTY, PLANT & EQUIPMENT
The breakdown and movements under this heading during 2014 and 2013 were as follows (€Thousand):
Balance
at
31/12/2012
Change in
scope of
consolidation
Currency
translation Additions Retirements Assignments
Balance
at
12/31/13
Change in
scope of
consolidation
(see note
2.5.4)
Currency
translation Additions Retirements
Assignments
Balance
at
31/12/2014
COST
Land and buildings 1,947,279 (109,072) (23,137)
5,479
(907)
(3)
1,819,639 (50,333)
(3,749) 14,206 (2,913)
(118,175) 1,658,675
Plant and machinery 796,859 (12,072)
(9,288)
3,313 (15,269)
(3)
763,540 (4,116)
776 38,136 (24,707)
(15,221) 758,408
Other fixtures, tools
and furniture
522,953 (26,982)
(4,362) 15,704 (25,004)
2,477 484,786 (214)
595
41,156 (28,742)
(27,061) 470,520
Other fixed assets
1,651
-
(41)
246
(598)
-
1,258
-
3
268
(44)
(1,143)
342
Assets under
construction
26,498 (234)
(161)
5,657
(88)
-
31,672
-
(129)
11,618 (133)
(25,016)
18,012
3,295,240 (148,360) (36,989) 30,399 (41,866)
2,471 3,100,895 (54,663) (2,504) 105,384 (56,539) (186,616) 2,905,957
CUMULATIVE DEPRECIATION
Buildings
(295,529)
9,791
4,109 (25,139)
438
-
(306,330) 7,668
(3,146) (22,354)
848
24,362 (298,952)
Plant and machinery (494,974)
5,160 4,808 (39,232)
15,221
2
(509,015)
3,623
1,162 (39,342) 19,806 12,755 (511,011)
Other fixtures, tools
and furniture
(425,384) 24,417
3,201
(25,169)
24,474
(434) (398,896)
196
101
(25,960) 23,293 15,588 (385,678)
Other fixed assets
(1,591)
-
-
(61)
600
-
(1,014)
-
(3)
(126)
42
761
(340)
(1,217,478) 39,368 12,157 (89,539)
40,731
(434) (1,215,255) 11,487 (1,886) (87,782) 43,989 53,466 (1,195,981)
Provisions
(220,067)
-
237
(2,261)
41,071
10,360 (170,660)
-
(13)
(7,939) 25,978 49,019 (103,616)
NET BOOK
VALUE
1,857,695
1,714,980
1,606,360
The “Translation differences” column reflects the effect of changes in the exchange rate used in the conversion of the different tangible fixed asset
items.
The most significant movements in this heading during the 2014 and 2013 were as follows:
i) The most significant additions under this heading, broken down by business units, were:
In Spain, the most significant additions in 2014 were related to the renovation of the hotels NH Collection Eurobuilding (€17.4 million), NH
Aránzazu (€3.79 million), NH Collection Abascal (€3.31 million), NH Iruña Park (€1.66 million), NH Gran Hotel (€0.86 million), NH Collection
Constanza (€0.82 million), NH Plaza de Armas (€0.72 million), NH Calderón (€0.60 million), and others.
In Benelux, the most significant additions in 2014 correspond to central services (€2.65 million), and renovations in the hotels NH Conference
Centre Koningshof (€1.81 million), NH Conference Centre Leeuwenhorst (€1.67 million), NH Schiphol Airport (€0.54 million) and NH Luxembourg
(€0.46 million).
In Germany, the renovation of the hotels NH Berlin Mitte (€2.4 million) and NH München am Ring (€1.8 million).
In Italy, the renovation of the hotels NH Milano Fiori (€2.43 million), NH Touring (€1.77 million), NH Madison (€1.56 million), NH Firenze (€1.23
million), NH Laguna Palace (€0.83 million), NH President Milano (€0.6 million), NH Vittorio Veneto Roma (€0.53 million), NH Ambasciatori
Torino (€0.49 million), NH Leonardo da Vinci Roma (€0.48 million), Nhow Milano (€0.46 million), NH Carlton Amsterdam (€0.41 million), and
others.
ii)The most significant asset retirements in 2014 were:
In Spain, abandonment of the hotels NH Palacio de Oriol (€2.11 million), NH Inglaterra (€1.49 million), NH Santander Parayas (€1.12 million) and
NH Orus (€0.51 million) and renovation of the hotels NH Collection Eurobuilding (€9.15 million), NH Aránzazu (€2.47 million), NH Collection
Abascal (€1.40 million), NH Iruña Park (€0.67 million), and others.
In Italy, renovation of the hotels NH Manin (€1.21 million), NH President Milano (€0.17 million), NH Vittorio Veneto Roma (€0.17 million), NH
Leonardo da Vinci Roma (€0.17 million), NH Ambasciatori Torino (€0.16 million), and others.
And, in Germany, mainly building work on the NH Berlin Potzdamer Platz (€0.74 million).
iii) Transfers mainly record the reclassification of all the assets of Sotogrande as available for sale (Note 9), for a net amount of €82.89 million.
At 31 December 2014, there were tangible fixed asset elements with a carrying amount of €686 million (€807.3 million in 2013) to guarantee several
mortgage loans (see Note 16).
The applied provisions include, on one hand, a balance of €0.14 million corresponding to the impairment balance associated with the hotels
abandoned over the year, and on the other, the impairment write-offs include €4,887 thousand due to the Group continuing to depreciate fixed
assets with allocated impairment.
REPORT ON THE CONSOLIDATED FINANCIAL STATEMENTS
