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10. Property, plant, and equipment

 

Land

Buildings

Machinery and equipment

Other fixed assets

Under construction

Total

1 January 2020

      

Acquisition prices

20.0

195.2

669.0

71.6

58.8

1,014.6

Cumulative depreciation/impairments

 

-81.6

-524.4

-40.4

 

-646.4

Book value

20.0

113.6

144.6

31.2

58.8

368.2

       

Movements

      

Capital expenditure

  

0.9

0.5

71.9

73.3

Divestments

   

-0.1

 

-0.1

Exchange rate differences

-1.8

-13.8

-10.1

-5.2

-7.4

-38.3

Depreciation

 

-6.4

-26.9

-4.4

 

-37.7

Impairment

 

-1.3

   

-1.3

Assets classified as held for sale

-3.9

-1.9

-2.9

  

-8.7

Other

 

1.2

61.4

-3.5

-59.1

 

Net movement in book value

-5.7

-22.2

22.4

-12.7

5.4

-12.8

       

31 December 2020

      

Acquisition prices

14.3

178.6

653.3

65.9

64.2

976.3

Cumulative depreciation/impairments

 

-87.2

-486.3

-47.4

 

-620.9

Book value

14.3

91.4

167.0

18.5

64.2

355.4

       

Movements

      

Capital expenditure

 

0.1

0.7

0.4

149.7

150.9

Divestments

  

-0.9

-0.1

 

-1.0

Exchange rate differences

 

1.6

4.0

0.2

1.9

7.7

Acquisition of group companies

  

0.3

0.2

 

0.5

Depreciation

 

-6.0

-30.1

-4.1

 

-40.2

Impairment

  

-2.0

  

-2.0

Assets classified as held for sale

-0.6

-0.5

   

-1.1

Other

0.6

11.2

45.9

0.7

-61.8

-3.4

Net movement in book value

 

6.4

17.9

-2.7

89.8

111.4

       

31 December 2021

      

Acquisition prices

14.3

189.8

707.0

63.6

154.0

1,128.7

Cumulative depreciation/impairments

 

-92.0

-522.1

-47.8

 

-661.9

Book value

14.3

97.8

184.9

15.8

154.0

466.8

Depreciation rates

 

2.5 - 4%

6.7-12.5%

20-50%

  

The 'Other' line item relates to transfers from Under construction to other categories within Property, plant, and equipment and transfers to Intangible fixed assets and Inventories.

The impairment recorded in 2021 relates to the FiberLive development. An impairment has been recorded of € 2.0 million, reported on the income statement line item 'Cost of sales'. Further, an impairment of € 19.6 million has been recorded on Intangible fixed assets related to the FiberLive development for which reference is made to Note 12.

For the Algae Ingredients business, management has identified triggers to reassess the valuation of tangible fixed assets because of developments in the WACC. The cash flow projections are derived from the financial and business plans for 2022 which have been approved by the Board of Management. The key assumptions in the cash flow projections are related to revenue projections, EBITDA developments, the rates used for discounting cash flows and the terminal growth rate. In 2021 no additional impairment loss or a reversal of an impairment was recognized.