Porsche 2007 Annual Report Download - page 162
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159
[19] Non-current and current trade receivables
The receivables from long-term construction contracts are calculated as follows:
The revenue from long-term construction contracts totals EUR 64,799 k (prior year:
EUR 51,522 k). Contracts and parts of contracts billed to customers are reported under trade
receivables. There were no significant bad debt allowances for the trade receivables disclosed.
Due to Porsche’s diversified customer structure, there is no concentration of risk in the
trade receivables. The maximum bad debt risk corresponds to the carrying amounts of
the net receivables. The fair values of the trade receivables essentially correspond to the
carrying amounts.
[20] Non-current and current receivables from financial services
The receivables from financial services contain receivables from customer and dealer financing
including installments due for payment of EUR 492,094 k (prior year: EUR 504,244 k) and
receivables from finance leases before valuation allowances of EUR 1,316,518 k (prior year:
EUR 1,317,088 k). Of these, receivables of EUR 35,511 k (prior year: EUR 39,818 k) were
impaired as of the balance sheet date. There was no significant concentration of risk in the
receivables from financial services. The maximum bad debt risk corresponds to the carrying
amounts of the net receivables.
EUR000 31/ 7/2008 31/ 7/2007
Receivables from long-term construction contracts 28,038 26,487
Trade receivables 239,416 239,421
267,454 265,908
thereof non-current 2,679 20,772
thereof current 264,775 245,136
EUR000 31/ 7/2008 31/ 7/2007
Costs of conversion including outcome of the long-term construction contracts 77,489 107,968
thereof services billed to customers – 16,514 – 77,231
Future receivables from long-term construction contracts
before advance payments received 60,975 30,737
Advance payments received – 32,937 – 4,250
28,038 26,487
EUR000 31/ 7/2008 31/ 7/2007
Receivables from financial services 1,773,101 1,781,514
thereof non-current 1,301,256 1,321,635
thereof current 471,845 459,879