Leasing contracts that mainly transfer the economic risk to Repower are recognised as finance leasing arrangements. All other leasing contracts are classified as operating leasing arrangements. Assets which are recognised in connection with a finance lease are depreciated in accordance with the guidelines explained under property, plant and equipment. If the depreciation period of the asset is greater than the length of the lease agreement, the asset is depreciated over the term of the leasing contract.
The total of the future minimum leasing payments for the period is:
Operating leasing arrangements
|Due within 1 year||3,963||4,200|
|Due in 1-5 years||5,542||5,528|
|Due after 5 years||8,127||3,389|
At the reporting date of the current financial year, the outstanding minimum lease payments consisted of TCHF 14,930 for property and buildings, TCHF 2,251 for motor vehicles and TCHF 451 for IT hardware. At the reporting date of the previous financial year, the outstanding minimum lease payments consisted of TCHF 9,345 for property and buildings, TCHF 2,547 for motor vehicles and TCHF 1,225 for IT hardware.
Lease expenses of TCHF 5,114 were recognised in the financial year under review. Lease expenses came to TCHF 4,987 the previous year.
Only in the case of motor vehicle leasing contracts is Repower required to pay a standard market surcharge if it uses the vehicles beyond the contractually agreed kilometre limit. In the case of leased IT hardware, the lease contains the option of extending the contract for up to two years.
Finance leasing arrangements
The finance leasing arrangements only cover motor vehicles. The lease liabilities are contained in financial liabilities. If Repower uses the vehicles beyond the agreed kilometre limit, it must pay a standard market surcharge.
|Sum of minimum lease payments|
|Due within 1 year||401||371|
|Due in 1-5 years||153||289|
|Due after 5 years||13||-|
|Liabilities for financial leasing||545||642|
|Present value of liabilities for financial leasing|
|Due within 1 year||392||358|
|Due in 1-5 years||142||284|
|Due after 5 years||11||-|