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DES - Online Annual Report 2007

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5. Other non-current assets

in € thousands 31.12.2007 31.12.2006
Other non-current assets 3,802 16,508
  3,802 16,508

The item essentially includes the present value for interest rate swaps of €3,718 thousand.

In connection with loans, Deutsche EuroShop AG has concluded interest rate hedges for hedge against increasing capital market interest. Their present value amounted to €2,563 thousand on the balance sheet date.

The item also includes the present value of a long-term option contract of €1,155 thousand, which our Polish property company concluded in 2006. This business will provide the company with annual cash flows of €207 thousand until 2016.

In the previous year, it essentially included letting costs paid in advance and capital contributions still to be paid.

Continue reading: 6. Trade receivables

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