Impairment of property, plant and equipment
The current market conditions are characterised by rising electricity prices and stable gas prices, which resulted in improved framework conditions for the CCGT power plant in Timelkam.
The resulting optimistic appraisal of future cash inflow surpluses in the Energy Segment resulted in an upward revaluation of the CCGT power plant in Timelkam in an amount of EUR 6.6 million (31 March 2018: upward revaluation: EUR 5.0 million).
The recoverable amount (value in use) is EUR 52.2 million (30 September 2018: EUR 56.7 million). The maximum output of the power plants amounts to 422 MW, maximum district heating supply is 100 MW. Efficiency was estimated at 55.7%. Annual electricity generation was recognised at up to 1,785 GWh per year. The assumptions for the future electricity and gas prices are based, where available, on market data; if no market data were available, estimates were made based on market studies. Expenses for maintenance and repair were recognised according to maintenance plans and contracts. Other material expense items such as personnel costs, insurance and infrastructure costs are annually increased by an estimated increase rate. The discount rate is 4.9% (30 September 2018: 4.9%).
Impairment of investments
As of 31 March 2018, the share in the profits of Salzburg AG (recognised at equity) for energy, traffic and telecommunication in the amount of EUR 9.1 million was not recognised as this would have resulted in exceeding the value in use of EUR 153.5 million.