Repower – Annual Report 2020

15 Tangible assets

CHF thousand	Power plants	Grids	Assets under construction	Land and buildings	Other	Total

Gross values at 1 January 2019	994,857	771,481	81,522	71,731	55,738	1,975,329
Own costs capitalised	-	330	6,082	-	-	6,412
Additions	189	262	27,331	22	2,438	30,242
Disposals	-	–14,791	–52,897	–73	–445	–68,206
Disposals from changes in consolidation	-	-	-	-	–2,394	–2,394
Reclassifications between asset classes	8,630	18,034	–28,181	10	1,728	221
Effect of currency translation	–18,863	-	–499	–603	–872	–20,837
Gross values at 31 December 2019	984,813	775,316	33,358	71,087	56,193	1,920,767

Accumulated depreciation and value adjustments at 1 January 2019	–558,044	–451,476	–59,780	–33,697	–35,655	–1,138,652
Depreciation	–25,283	–17,229	-	–679	–4,129	–47,320
Impairments	-	-	–1,983	-	-	–1,983
Disposals	-	10,713	52,094	43	343	63,193
Disposals from changes in consolidation	-	-	-	-	2,019	2,019
Effect of currency translation	9,807	-	178	550	480	11,015
Accumulated depreciation and value adjustments at 31 December 2019	–573,520	–457,992	–9,491	–33,783	–36,942	–1,111,728
Net values at 31 December 2019	411,293	317,324	23,867	37,304	19,251	809,039
of which security pledged for debts						77,953

Gross values at 1 January 2020	984,813	775,316	33,358	71,087	56,193	1,920,767
Own costs capitalised	-	207	9,026	-	-	9,233
Additions	1,530	5,428	30,818	594	1,369	39,739
Additions from changes in consolidation	71,496	-	-	622	31	72,149
Subsidies received	-	-	–2,053	-	-	–2,053
Disposals	–1,652	–8,935	–17	–128	–318	–11,050
Reclassifications between asset classes	3,351	23,048	–26,698	837	337	875
Effect of currency translation	–1,425	-	6	–56	–105	–1,580
Gross values at 31 December 2020	1,058,113	795,064	44,440	72,956	57,507	2,028,080

Accumulated depreciation and value adjustments at 1 January 2020	–573,520	–457,992	–9,491	–33,783	–36,942	–1,111,728
Depreciation	–27,079	–17,431	-	–729	–3,706	–48,945
Disposals	1,502	7,901	-	29	120	9,552
Reclassifications between asset classes	–25	-	-	–305	-	–330
Effect of currency translation	1,082	-	22	65	50	1,219
Accumulated depreciation and value adjustments at 31 December 2020	–598,040	–467,522	–9,469	–34,723	–40,478	–1,150,232
Net values at 31 December 2020	460,073	327,542	34,971	38,233	17,029	877,848
of which security pledged for debts						99,843

Land and buildings connected with power generation and grid facilities are stated under power plants and grids.

The increase in the net values of tangible assets pledged as security for debts relates in particular to bank loan taken up in connection with the early redemption of financial leases.

The subsidies received stated are subsidies received in connection with the total renovation of Robbia power plant.

The impairment charge recognised in 2019 related to a payment to a supplier that was unable to meet its obligation. In this context use was made of a contract bond amounting to CHF 967 thousand. The income was recognised as other operating income (see Note 4).

Leased power plants

The net carrying amount of the generation assets held as part of the finance leasing agreement totalled CHF 22,938 thousand (previous year: CHF 41,057 thousand) at the closing date.

Total lease liabilities come to CHF 16,363 thousand (prior year: CHF 27,431 thousand).