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4. Non-current financial assets

Costs in € thousands Non-current financial assets
2006
Costs as of 1 January 109,455
Currency differences 0
Additions 4,889
Disposals 0
Reclassifications 0
Changes in consolidated Group -95,639
as of 31 December 18,705
   
Depreciation and amortisation/impairment losses and reversals as of 1 January 7,349
Currency differences 0
Additions  
Reversals of impairment losses 3,777
Disposals -754
as of 31 December 10,372
   
Carrying amount 1 January 116,804
Carrying amount 31 December 29,077
Costs in € thousands Non-current financial assets
2007
Costs as of 1 January 18,705
Currency differences 273
Additions 526
Disposals -543
Reclassifications 0
as of 31 December 18,961
   
Depreciation and amortisation/impairment losses and reversals as of 1 January 10,372
Currency differences 0
Additions 0
Reversals of impairment losses 3,518
Disposals 0
as of 31 december 13,890
   
Carrying amount 1 January 29,077
Carrying amount 31 December 32,851

The additions involve a capital increase in the case of Sechzehnte Alba Grundstücksgesellschaft mbH & Co. of €50 thousand, in which Deutsche EuroShop Verwaltungs GmbH has an interest.

Our Austrian real estate company, EKZ Eins Errichtungs- und Betriebs Ges.m.b.H. & Co OEG , Vienna, also acquired shares in EKZ Vier Errichtungs und Betriebs Ges. m.b.H., Vienna, for a purchase price of €21 thousand in July 2007.

The disposals include an equity repayment of the Polish property company, CASPIA Investments Sp. zo.o. to the shareholders of €543 thousand.

Sechzehnte Alba Grundstücksgesellschaft mbH & Co., EKZ Vier Errichtungs- und Betriebs Ges.m.b.H. and CASPIA Investments Sp. zo.o are not included in the consolidated financial statements for reasons of materiality.

Non-current financial assets contain investments that are not included in the consolidation but that are classified as available-for-sale in accordance with IAS 39 and recognised at their fair values. During the year under review, an impairment loss relating to Ilwro Joint Venture Sp. zo.o., Warsaw, was reversed in the amount of €3,518 thousand and recognised directly in equity. At the balance sheet date, the net carrying amount of the investment amounted to €28,092 thousand.

In addition, the ending balance contains the investment in City-Point Beteiligungs GmbH, Pöcking. The company’s activities are limited to acting as the general partner of City-Point Kassel KG, Pöcking. The net carrying amount is €13 thousand. The company has not been consolidated for reasons of materiality.



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