4. Accounting policies

4.1 Impairment of assets

Timelkam CCGT (combined cycle gas-turbine) power plant

Due to the current situation on the market, impairment testing was performed for the Timelkam CCGT power plant (Energy Segment). 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 1,528 GWh per year (previous year: 1,741 GWh). 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. The estimated electricity price is EUR 100 to EUR 253 /MWh (previous year: EUR 93 to EUR 196 /MWh). 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 5.5% for 2023 and 2024, and subsequently 5.6% (previous year: 5.8%). The planning horizon ends in the 2037/2038 fiscal year. Due to lower market expectations in particular, an impairment of EUR 13.0 million (previous year: impairment reversal of EUR 4.1 million) was recognised. The recoverable amount determined using the DCF method corresponds to the value in use in the amount of EUR 32.2 million (previous year: EUR 47.2 million). Fluctuations in cash flows of 20% resulted in a change of EUR 6.4 million in the recoverable amount. An increase in the interest rate by 0.5% results in a reduction of the recoverable amount by EUR 0.5 million.

Topics filter

Results for

    • No filters selected
    • No results